I looked it over and the finish is a nice blue, not reblued and not the older bright blue. All the roll marks look right & crisp with sharp edges. The magazine is original - two tone, marked colt .32 on the bottom plate as is the walnut grips with Colt medallions. The barrel is bright, no pitting. All the small parts look right. Is there something else I should be looking for? BTW :The dealer guarantees it to be 100% original or money back. Can't beat that.
But I like them a lot. I have one older refinished one that I use for a back up gun, and sometimes as even a primary. Additionally I have one made in the fourties that I think is all original. Currently I am looking at another one circa 1919 that is very clean, Probably in the same condition range as the one you are looking at. The price that you quote seems a little high to me. But you have to ask yourself. How much do you like the gun? How long will it be before you see another one in this condition?
Assuming that we maintain control of our government. These guns will never go down in value. Your money, your choice.
It looks absolutely identical to my 1927-vintage .380 M1908. If you like it then buy it. They're such fun to have and shoot you won't be disappointed. Just make sure everything works properly (such as the safeties), the bore is excellent, and the mag is in good shape with no split feed lips (a common problem). Finding replacement magazines is going to be your biggest challenge. Originals in great shape are very hard to find, and when found they often sell for as much as $100 a pop.
I do not think that you will regret your decision to buy it. If you ever decide to carry it for a backup protection gun. Check out the Buffalo bore ammo for it. The ammo seems like a pretty good show stopper for caliber size. It functions very reliably in mine. Additionally these guns were engineered pretty heavy and I do not see wearing it out with this ammo. It may not be a gun that you want to fire 1000 rounds a week out of. But you will have a lot of fun with it. I have never been able to do any real accurate shooting with small pistols. These are different.
Place a loaded magazine, (It is not a clip!) in the gun. Rack the slide and this should strip the top round out of the magazine and chamber it. put the manual safety on and then drop the magazine out. Top off the magazine, reinsert it and you should be ready to go.
They are not in as good a shape as yours but they are a lot of fun to shoot. These guns are not only great shooters but they have a lot of panache. The picture is lousy I know. But the unrefinished one is in a lot better shape than it looks. The other one is a great backup gun.