The many variations of this No.3 model are far too complicated for me to puzzle out, except that I thought the "reissue" marking pertained to the Turkish & Jap export models. Photos are good enough to reveal that condition leaves a lot to be desired, meaning value is going to suffer considerably. Can't even tell if it was originally nickeled or blued, but maybe owner can clarify that.
Welcome to the forums from the Wiregrass! You have a .44 Russian 2nd Model (Old Russian Model) that was a commercial version of the Turkish contract which had a serial number range of 1 to 9000 and was stamped "reissue." The barrel has been cut down from 7" and it may have been refinished in nickel. It is difficult to gauge what it is worth without better pictures and some idea of how well the action works.
Correction *: I went back and looked in the S&W standard catalog. It appears you have a 3rd model Russian because of the large thumb screw on the top strap. Here’s a picture to show you what I mean. The gun in the auction is mint and a different version. Honestly I’m surprised bidding is just over 2k, I see asking prices for similar guns to the one in the auction anywhere from 3k to close to 10k for high condition ones. That just goes to show that asking price can be very different from actual value. However since condition is everything with antiques price drops DRAMATICALLY depending on condition. Here’s a picture of my first Russian I just got a couple weeks ago for $250 bucks. It’s also got a cut barrel like yours (yours is missing the front sight too). It’s too bad it looks like they only took an inch or two but the damage is done. There should be a “finger tang” too on the trigger guard. It also depends on what works and what doesn’t on your gun. If you are interested in selling it I’d maybe be interested in buying it. I’ve restored the one I bought and I’d be happy to find another project. However I know the one I just got is worth way more to me just to have. I wouldn’t sell mine for less than a thousand, just love the gun.