I've been looking for a really nice P38 to add to my WWII collection for a while now, and one of my favorite local haunts tempted me today. I knew it was going to be good when the guy who runs the store (a real good ol' boy) got this smile on his face and a gleam in his eye when he went into the back room to "get something to show me"

What he came back with was a very nice condition AC 42 43 Walther P38. All matching numbers, no import markings, appears to be a Vet bring back. I would estimate the finish at 90% or so. Bakelite grips in very nice condition, no cracks or chips. Very sharp rifling and a generally nice bore, albeit it could stand to see the business end of some Hoppes soaked swabs. All proof markings are intact. The pistol has two marked magazines with it.

Here's where it gets really good: it also has a brown leather holster in very good to excellent condition. The white stitching is intact and has not been polished over. The leather has a high gloss finish over most of its surface with the expected wear here and there. What makes this rig extremely unusual (to me at least) is that it also comes with a brown leather belt that has what I believe to be a RAD buckle like this a Luftwaffe belt buckle.

The belt is in very good condition with the original keeper, and the buckle itself doesn't look messed with at all. On the reverse, the Vet had written his name and hometown along with what seems to be a list of the places that he had been while in theater. Some of the writing is faded and impossible to read, but it was Pete <Something> from Texas. I forget the town although it was legible. La Sala...something. Not sure if the writing and history written on the back of the belt adds to or detracts from the value, but to me it's a neat piece of history.

He's asking $1,650 for everything which seems fair to maybe a little high to me. These are not an area of particular experise for me and I would be grateful for any input. I do know that prices on P38s vary wildly depending on condition, matching numbers etc. Would $1,500 in cold hard cash be a fair offer for the whole lot?

ETA: Added pics. $1,550 cash would get it done.

Assuming everything is all original, my gut tells me that the $1650 figure is a pretty good deal.

A P38 and holster in that condition would be about 1300-1400 roughly at a gun show around here. now, keep in mind what the price on the tag at the gun shows say, isnt always what it sells for.  

If you are comfortable with 1500 to get the belt / buckle / signed history behind it maybe thats not too bad of a price. honestly if it were me I would feel more comfortable around 1400. but the 1942 P38s arent as common and easy to come by as the 1943s and 1944s seem to be. ( I own 2 AC 43 P38s )

Those were the two big things I was factoring into this.  OP, is there any written provenance or anything that the seller has from the previous owner?

Unfortunately not, just the pistol, holster, belt, and mags. Also I erred in my description as it's an AC over 43, not a 42. Pics added in OP. Starting to think this a little on the pricey side. The belt is throwing me a bit as it's hard to put a value on it. I can find them online for anything from $150 up to $300+ with the Luftwaffe buckle.

I bought an AC 43 in similar condition for 675(its worth more, I got a deal) about a year ago OP, Hard shell holsters go for between 200-250 in excellent conditiion. I would guestimate that the pistol and holster are worth about a grand so you have to decide if the belt is worth 500$ to you.

No way it's worth that for a 43.  I wouldn't touch it for over 1200.

Yeah, I think I've reluctantly arrived at that conclusion too. It's a nice piece, but just not $1,550 nice. Oh well! The nice thing about C&Rs is there's always something else around the corner

Ive got that pistols twin brother, which I paid ~750 for two years ago, ( through trading I got it for less technically )  without a holster or belt.

I got a bit excited when you said '42, but to me 43's are everywhere.

WANT....  Jealous.