On 10/28/2008 I purchased a new and unfired factory original S&W Model 27-2 357 magnum, 8 3/8", pinned & recessed revolver, with the original two piece blue box with matching end label as well as the original documents and the original cleaning kit still factory sealed in the plastic bag for $755.00. I payed 6% tax in state as well as $25.00 shipping and $35.00 for a transfer. Total cost...$860.00, which I think is a bit high. In my opinion $1150.00 is WAY high.
Early 27's and pre-27's were nominally available in 4", but rarely, if ever, are seen. A 4" S-serialed 27 would be worth that and more if indeed in perfect, unmolested, complete and unfired condition.
However in the late N-range, around N-800,000 or so there was a surge in 4" 27 Production, I suppose as a consolation to us as buyers who were about to loose the 4" 28. These guns are numerous and there seem to be alot of them around in Nickel. If your example is one of these, the value stated is roughly twice what it would be worth to me.
"Newish Target Stocks" would be a tip off to me that this gun has ben screwed with.