The value of ANY fiream is based on exact make, model, condition and originality. First, be sure that your revolver IS a Smith & Wesson, and not just in CALIBER 32 S&W. If it is a true Smith & Wesson revolver, values can range from about $75-$200, or more for rare specimens in excellent condition.
These were made by the Iver Johnson Company from 1910-1935. Your revolver is from around 1930.
what model, caliber. ????????
What model .38?
1912
1911
1910
2006
1871
Caliber should be on the barrel. SN's were not required until 1968
Early 1930s
Swiss 1920-1940
Impossible to answer without knowing the model and caliber.