Craig,
You missed the real weak end of the market. Back when I got my Falcon 12 gauge (Uggy, imported here by American Imports, 1972 vintage) I routinely saw the dumped Spanish guns Kyrie is referring to in the $250-400 range. I won the auction for mine at $404, shipped. Mine wasn't dumped here, but, seller had to compete with a bunch that had been.
I won't speak to other peoples Uggies, or, to the broader scope of soft stuff in Spanish guns other than to say this: Mine is good, and would have been dragged there, kicking and screaming if it hadn't been (more on that in a second) and John, one of the regulars here, who has imported Arriettas for years said he never has had a problem.
Good enough from here.
I got mine for so cheap I sent it to Cole Haugh, a former importer and gunsmith for Uggy, for new poly on the stock, new recoil pad, strip and clean, and opening the chokes. Since the gun has disc set strikers, I got a spare set, and the tool to put them in. Cole told me he always annealed, re-heat treated, and tempered the guts of a gun he got in for a strip and clean. Cheap insurance, he told me. I never had the chance to find out if anything was soft. He did a little polishing to internals, bent the stock left, and sealed the stock up and returned it to me.
I'm really happy with the gun to this point. The Falcons were 3" chamber and proof, hidden third fastener non-ejectors, perfect for typical rainy day gun use. The gun, gunsmithing, and K & K case all came in less than $1200, and it is what I use as a traveler. Or, when hunting with someone's Lab, as they seem to step on the wrist of guns, or lift their legs and pee on guns, etc.
People seem to be asking $500-1K for the guns, now, no idea what they are getting for them. Not English best, granted, but, I wouldn't use it as much as I do if it were.



I've got a little tool box that can come along, with the spare strikers. Haven't needed it, yet.




Best,
Ted