I had a similar experience at a small local auction with a 721. It was a 300 H&H magnum with the 26" barrel. Also had a 3X scope in a tip off mount on it. The old gentleman that had owned it packed grease into all the nooks and crannies before he passed away. It had dried and the bolt release was stuck forward. Anytime someone picked it up the bolt would slide out of the rifle. I wasn't sure what the problem was but I bid on it anyway. After a closer look an overnight soak in Hoppe's took care of the problem. If I recall correctly I paid the grand sum of $70 all in for it.
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