I picked up a High Standard 1911 compact new in the box for only 350 but to a tiny scratch on the slide.
So far the results are not nearly as well as with the new Smith I also purchased. It failed to feed nearly every other shot for the first 20 or so. Now with 150 shots through it it still sticks about once every third magazine. Since it is getting better I'm going to give it 200 more shots before I get concerned. This is an all steel 1911 that could use a little more break in than I am used to.
For such a cheap gun the fit and finish is very good and has many custom features. And just so you know this version of High Standard is made in the Philippines by Armscorp. Same gun as a Rock Island or Citadel. If any problems persist it has a lifetime warranty that they stand behind very well.