The 27 in a dash 1 version is rare, and everyone seems nuts about the 3.5" barrels, so yes, you have a rare bird on your hands that is easily worth over $1k if its in good condition. Don't bother looking at the Blue Book on this one, as these 3.5" 27s have a cult following, and the fact that its a dash 1 makes it all the more desirable to a certified S&W nut (of which I'm one!)
