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They are not 1911 pistols, but a modification of that design
with some internal changes and no grip safety.
They were military/police pistols used in the 1960's in South America and were refurbished and sold here as surplus years ago.
I have seen one for sale in the last few years at around $350 - $400. There are not many for sale - most who own them keep them.
Many who own them think they are really great carry pistols. They are well made and very good shooters and they have a lot of fans.

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I think that overall they have a decent reputation for function but, if the availability of parts doesn't scare you off then it's a viable pistol.

Take this a a grain of salt - I've never owned one.

A Sistema on the other hand...............
 

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Bboomer is right on...I had one and never could find certain parts for it...finally traded it for something I could fix. With the exception of the magazine, most parts were engineered specifically to bypass royalties Argentina would have to pay Colt. The firm that made it (HAFNASA[?])made motor vehicles and went out of business long ago. HAND
 
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