I may have missed something . . . but are we sure that's a Derby? At the same time they were selling the Derby, American Arms also marketed the Grulla No. 2. I can't tell which it might be from the photos, although my guess would be Derby because of the ST. A Grulla No. 2 would likely be worth at least twice the price of a Derby, but still well short of $7K.
Come to think of it, I've never seen a Derby with a take down lever, it could very well be a Grulla. Derbys also had 25" or 26" bbls, I can't remember seeing one with 28" bbls. With American Arms, who knows what they imported and what configurations for that matter. I very well may have misspoken on the Model. Still as you said, 7k sure is a lot for this piece.
Best,
Greg
