First of all, M-12s are just wonderful guns...its hard to believe that even the Y models are close to 50 years old. There are 2 reasons to own a M-12...one is to shoot, you can't find a better pump shotgun. The second is to collect them...collexting them is great fun, and extremely interesting, and you don't have to be rich to collect a few. The history, the variations, etc. the books by Madis, Riffle, and more make the M-12 a great hobby, even if you don't own one. The problem is that VERY rare guns are sold or for sale at very high prices, and everybody that is not really familiar the guns thinks every M-12 is worth a small fortune. Thats when you get the dishonest and in some cases just ignorant sellers....I follow the internet auction/for sale sites, and it is unbelievable what sellers, in many cases gun dealers, will say. As far as 28ga M-12s are concerned, they are way beyond my price range as far as collecting, but I would not hesitate to get one of the Jap versions to shoot/hunt with...JMHO...WC