I love selling and buying on Reverb.com. Ive gotten fair prices, and I don’t think I will ever let a store sell my gear again because they charge high rates. However, buying a guitar sight unseen is a little crazy, and shipping cost as a seller is expensive.
Great video. It’s not just a good primer for the guitar market in general, but also covers simple economics. This video applies to all things supply-and-demand. Good job.
I have to agree with Steve on this. People do get very emotionally attached to their "PERCEIVED" value of their gear. Reverb is a haven for this especially in the vintage market. I am a proud owner of a vintage Gibby LP Custom (1975). When I was shopping for the one I now own, I made several REASONABLE offers on other guitars. Most were priced in the mid to upper $4k's which on a Norlin era Gibson is RIDICULOUS. Most recent sales on eBay and Reverb were in the $2800-$3800 range. The sellers asked me why I was giving lowball offers. I explained to them in a very nice way what the actual selling prices are vs asking price, and what I offered was fair market value. Now, I don't mind paying a fair market value for a vintage or any other instrument, but I'll be damned if you're gonna take me to the cleaners! Great video Robert, it's great to see somebody out there trying to educate the general public on what's real especially in our hobby/lifestyle. A little research and education goes A LONG way! Thanks man, and keep up the good work!
Thanks Dave! I couldn’t agree more. People on Reverb are asking astronomical prices for their gear, and it’s always been that way for some reason. A lot of people think that a used guitar is “going for” $XXX when all they’ve seen are asking prices. I felt the world needed some education on this. Thanks again for your kind words!
You are spot on Robert. The world does need an education. ESPECIALLY Reverb sellers. I can't blame a guy for wanting to make a dollar or two, but some of those prices... OUCH! I look at 'Verb, and even eBay, and prices are just all over the place on used gear, not just vintage. People just need to come back down to the really real world when it comes to actual resell prices and their perceived resell value.
Used American Special and Highway 1 Strats in great shape can be had on Craigslist for around $600 routinely where I reside. Basic used MIM Strats are are about $250 to $300 and are a hard sell. Great video!!
True. It wasn’t all that long ago, though; that the Special and Highway 1 Strats were around $400-500 used and the American Standards were around $700 used. Ah, the good ol’ days... Glad you enjoyed the video!
Brilliant video. The only other aspect I can think of is when a manufacture changes factory ( usually resulting in quality loss ) that models Associated with another factory become more desirable. The original Jap strats ( which were said to be much better than the USA ones ) Hold there prices well. Some epiphone models vary in value due to where there made.👍
Hi Robert,this video was great.And your absolutely right on with your assessment of the used market! Its like used cars,or new ones,as soon as you leave the store your guitar starts losing money.Trading and selling guitars for over 40 yes you learn one or two things.hahaha, and by the way check your autofocus,didn't get a clear video till about 3/4 in.Good video ,no matter.Have a good one bud.Peace
I've found a few really good deals at yard sales. Most times I must ask if they have any guitars for sale because they normally are not displayed. I made a really good deal on an Ovation Guitar, that had belonged to a family member who had passed several years ago. I bought the guitar for $75.00, with no case. I found a used Ovation hard shell case on eBay for $100.00. I bought it. Cleaned and polished the guitar. Replaced with top value strings and tuned it. It played really nice and was set up properly. Required minimal adjustments. Sold less than 2 weeks later for $600.00. I was happy. There are deals out there. Letting them go, or selling them is the most difficult.
Robert i have a one of a kind joe strummer bass tele with active Jazz pick ups with 2 vol and 2 two Tones and a joe strummer garage flat black worn look thanks Robert !!!!! And i love the tone and one of a kind look that i had custom made for me !!!
The old MIM Standard Series was discontinued a couple of months after being around for over 20 years and was replaced with the Player Series, which are the ones selling in the $650 range. But Fender upgraded A LOT of features on the new Player series from the old MIM Standards. Take inflation into account and the Player guitars really aren’t much more than the Standards used to be, but are MUCH better guitars. The used market has also come up on the American Standard Series Strats. I haven’t seen one sell for $650 in several years now unless it’s an old 90’s model (the necks sucked on those) or one that’s been beat to death.
Great video, people get very emotional about the value of their guitars and gear and hopefully this video will help resolve some of that. I would suggest if you are concerned about resale value stick with the major brands like Fender, Gibson, Martin or Taylor in guitars, they tend to hold more of their value than all the other guitars. Also, avoid the fad products (i.e. guitars like Jackson), when the fad goes away the resale value drops like a rock. Also remember that if you sell it to a wholesale buyer (i.e. Guitar Center, Sam Ash, pawn shop) you won't get anywhere near the market value since they need to resell it and make a profit. Thanks for the video, keep up the good work!!!
Steve, I hear ya. From what I've discovered, when you take your guitar to a reseller (i.e. Guitar Center, Sam Ash, local Mom & Pop) they'll offer you about 50%-60% of resell value. Example: My 2013 American Standard, new was $1300, I bought it used for $750 2 years ago from GC. I could take it back in and they'd offer me likely about $450 for it today which is 60% of resell. Then they could price it for $750-$850 and get in that ballpark figure for it all day long. It's just how that works. Pawn shops are a bit worse, they typically offer about 33%-45% of resell, then price it for $1000.
Hey DaveR, perfect example, if I wanted to sell any of my gear, I would use Reverb/EBAY for that exact reason even though it is such a hassle. Walking away from $300 is hard to do because I am just being lazy. I like Reverb a little better than EBAY, but no doubt it is still a hassle. I would actually buy more on Reverb if people were not so difficult to deal with. Good guitars like G&L, Framus, Heritage all depreciate like crazy, the only way to really buy those guitars is used, you can get a really sweet deal.
Steve, For sure. When I bought my Gibby, I bought it on Reverb. The transaction wasn't as smooth as I would have liked, but it worked out well enough in the end. I am definitely more in the camp of buying on Reverb over eBay. Not that eBay is bad, or anything, it's just Reverb is more of a haven for us musical types and GASsers(Guitar/Gear Acquisition Syndrome). Some good deals can be found on either platform, and even on Craigslist, however, at least with Reverb and eBay the buyer and seller have more protections.
I'm sure you remember on Superbowl Sunday a friend of mine wanted to sell me a Schecter PT Diamond Series guitar. My friend said to me now that it's out of the box and has been played,it's now considered a used guitar. Him and his wife took it to Guitar Center and they were going to buy it for $175.00. They took it to a pawn shop they would buy it for $125.00. This friend was going to sell it to me for what the pawn shop was offering. I know it's sounds to good to pass up,but I'm glad I did.I looked on Guitar Centers web site and they are all used and range anywhere from $150.00 to $300.00. But what really sucks about selling a used guitar is this. The seller gets very little for it while the store sells it to the buyer for double the price.
Nobody holds a gun to anybody forcing them to sell it to a reseller. Resellers like GC and pawn shops have to make a profit on it. If somebody wants full market value for their gear, they’ve gotta be willing to do the legwork required to find a buyer and sell it on their own.
I bought one a while ago, saw this one on sale and bought another. I've played a Gibson Les Paul for decades and these are inexpensive and really slay. I'll have a stable of them if I can keep finding them near me for 300-400
Great video and good advice. I will check ebay completed listings to help determine value. People have guitars sitting out there forever at ridiculous prices.
Apologies for the F'ed-up "strike-thru" on previous post?...NO idea how/why that occurred & I don't have time/knowledge to fix it rite now...sorry! LoL
Another great video! I have been telling people the same thing as you did. I have to Mexican Strat and used I paid $300 bucks and I dumped a lot into it. I am never selling it but you know it might be worth $250 after I made it my guitar. The my guitar thing is a money pit. Thank you!
I have purchased several used guitars over the years. I don't mind paying a reasonable price but I have seen people wanting more than retail because they think their stuff appreciates in value. Some prices I have seen makes me think these people believe their stuff is made of gold. And don't mod a guitar then try to sell it to me and try to get your money out of the aftermarket stuff. I only buy stock stuff unless the deal is too good to pass up, which rarely ever happens.
Not really. I’ve NEVER seen a USA Gretsch sell for that low. Especially since they weren’t in production in the U.S. for so many years, other than the occasional Custom Shop model.
Excellent video! As someone who buys, trades and sells gear often I have learned this the hard way over the years but I'm constantly running into people who don't understand why they can't get $550 for the Epi Standard Pro and 15 watt Line6 amp they paid $700 for a few months earlier. One thing I would add is value to the buyer. Someone was looking to trade a 2015 Gibson Trad Pro 3 for a Strat plus cash. I had a 2014 Am Strat so I msged him. When we met he loved the strat and said he would just trade even if I wanted. The strat was mint but so was the LP. I noted that the LP was worth more but his response was, not to him. He said he simply couldn't play it well, especially at the higher frets so basically it was just sitting there while this would give him something he could actually play and wanted. I had got the strat used at GC a couple of years earlier. They had mis marked it so I had picked it up for $650 (the Asst Mgr freaked when he handed me the matching case that still had the original receipt from 3 months earlier for $1400. So in many ways I picked up a LP that usually runs about ~$1450 used for $650. But I know the new owner of the Strat is happy and I'm very happy, I love the Trad Pro. In that case it wasn't really the actual value as much as it was the perceived value to the buyer and seller.
Marb's Music: That is how trades should work. You did very well sir! GC is the one that made that deal work out for the better for you monetarily. Both parties are happy, and no one felt in the least bit slighted. Plus you did the right thing by offering some cast to boot. I couldn't agree more about your first comment though. I will say this, I will never buy another new guitar, due to the depreciation. There's a million used out there that can be bought for about 55-60% or less of new prices, and then you don't take the hit if you plan to resell. The biggest caveat of that is like Robert talked about in the video, that is very limited and numbered runs/editions. Those have a much higher potential to hold value, and in some cases appreciate.
Hey Robert! I dig your channel. I also have a YT channel on guitars and I appreciate the way you lay things out. Good stuff. PS...I have a friend that was flipping Analog man pedals years back...exactly the way you described it. Keep it up brother.
You forgot the wife wants me to sell it price. That's where people post gear for sale for more than new advertised price because their wife wants them to sell that junk! Great job trying to explain "why" to some of the knothead sellers out there. You need to do a video explaing a Squire or Epiphone is not a Fender or Gibson. Even though I would rather have an Epiphone.
It’s difficult to predict, but in my experience Rickenbackers tend to do pretty well on the used and vintage markets. (Rickenbacker is actually a nightmare of a company to deal with for both dealers and customers, so a lot of people feel that the used market is the way to go on those.) As far as those guitars increasing in value, currently I’d say the chances of that happening are pretty good, but it’s not going to happen overnight, or even anywhere near it. Like I said, it’s difficult to predict what will be important as far as value on the used and vintage markets in another 25-30 years. My advice is to do what I do: hang on to everything for dear life! LOL
I have a 9 to 18 month wait on the Ric 381/12v69 Fireglo. I ordered last May & have no idea on my order's progress. What I do know, is that it will be brand new out of the factory. My Impoter will be taking 15%, which is better than the 50% you have to pay in retail in this country. But that's the distribution structure here.
Loved this video...New Sub...My own experience with the "guitar market" supports everything you said in this video. I am going back now, to watch the previous vid's you referenced at the beginning. I am curious , if you have any experience or knowledge regarding these various, "House Brands" (for example "Harley Benton" from Thommann MusicHaus in Germany)...After seeing hundreds of youtube vids, & playing a buddies LP Std knock-off that he brought over to show me & have me look over...& I was STUNNED at the overall quality... -(caveat: I KNOW they are not ALL this good, but,Gibson doesn't have exactly 100% "cust. satisfaction" rating on QC either) ...-after playing & loving it...I bought a Harley B. "Vintage Series" LP copy, w/ Wilkinson PAF's (really pretty good P'ups too) a REAL solid-Maple capped, supposed to be a veneer AAAA -SOLID capped (turns out, somehow mine is NOT a veneer! I checked both holes when I pulled the P'ups, & totally re-wired w/CTS pots etc. ..., w/all Wilkinson branded bridge/hardware (China made --obviously-...but, whose shit ISN'T made in China?) ...But, this thing is a SET-neck, solid mahogany, yada,yada,yada, virtually identical to a USA Les P....DELIVERED to FLA for $210 ! -that is including the $35 shipping cost!! WTF?!?! How can they DO that? Paying employees less money cant be ALL there is to this low-ass price...I did a fret-job (didnt REALLY require a full-on fret-job, but I "build" parts-casters & work on & flip/trade guitars for friends & fam & for my own use as a hobby, & this is one I will NEVER sell anyway....."Xavier" is another, similar brand..."Greg Bennet" is another brand as well...Just curious about this stuff....almost NO guitars -other than "custom-shop"- are actually MADE in USA...Many are either "assembled in USA" or "set-up in USA" (i.e. Schecter...another GREAT instrument as far as Cost/Benefit goes...I have a "made in Korea" Schecter from the early 2000's period that plays as good as ANY guitar --including various "custom-shop" -- that I have personally ever held in my hands...& I paid $300/used -& put 5-6 hours of my own work, plus another $150 in locking tuners & roller-bridge into it...Sorry to ramble, but IMHO the long & short is...If you HAVE the tools (not much tools needed) & have the skills/desire/WILLINGNESS to put a half-dozen hours of work into them? There are some FANTASTIC "affordable" guitars around these days (I wont say, "cheap" cause that sounds too negative)...Compared to the late 70's / early 80's, when I picked up a guitar??!! It is DEFINITELY a "Buyers Market" nowadays...A $150 Squier Bullet series is an incredible instrument compared to what the same $$ would buy you back in 1980....Thanks again! Keep em coming, Robert! Best Regards...S.F.
Thank you so much for the kind words! Glad you enjoyed the video. I haven’t played one of the Harley Benton guitars yet, but I am very curious to try them out because I’ve heard nothing but great things about them. I love Schecters, even the import models. Since you’re new to my channel you might not be aware of this, but the vast majority of my pedals demos are done with a Schecter SLS Blackjack, which is a $900 or so guitar made in South Korea.
I can find almost nothing re: my Schecter, it is a Bolt-neck.... (w/a Fender-style neck-plate on back- which says, "Schecter Diamond Series- 1840 Valpreda St, Burbank, CA" on it) ...most Schecters -to my knowledge- which isn't much-- but usually the ones I've seen don't have a neck-plate on back of the body? - Do they? at least as far as I know, they don't) ....anyway, it says, "Schecter, Diamond Series" on Head-stock, & on the truss-rod cover it says "Gryphon". All I have been able to find on them is that they were "Guitar Center Special's " i.e. only available thru GC . Strat-shaped, arch-top, w/flamed veneer (I am assuming its veneer) ..finish is Transparent Black/Grey, w/"Duncan designed" HB P'ups -w/coil-split on single-tone knob & Grover (China) hardware...WHATEVER the details of this particular model, it plays like a friggin DREAM...& I bought it used in 2012, (still has a sticker on the back that says, "Set-up to play by Schecter USA " & signed by "inspector #10" ...Best of ALL? I only paid +/- $250 shipped to my front door! I am going back to watch all ur older vids now...Thanks so much man!...cya!
i always agree with you my friend 9 out of 10 times weekly and that is is a pretty good track record my friend and if were running a baseball team our record would be 900 we would win 9 out of 10 times and everybody and there mother would want us to run there teams why cause for every 10 players we have 9 out of 10 would be winners Think about it ??
Guitar center used is good and bad it’s good for buying especially online since you can search all the guitar center stores for a used piece of gear and it will be shipped to your closest store a lot of times they sell used gear with upgrades like new parts pickups ect if you can identify in a picture or 2 if your lucky or call them and ask the specta directly selling items to them is a pain they give you 40% if what it’s worth,Example I had a fuzz that was 200 brand new I used it 4 times new it wasn’t for me and wanted to trade it in for another pedal even tho I got it off reverb they offered me $40 I took it so I could get another pedal but I know I could have gotten a better deal if I sold privately but it would have sat. Next time I went in there a week later they had it in the display for $180 It was brand new in box if there was tape on the box closing it you would think it was brand new never used point being id much rather take the loss and get what I really wanted and needed than wait a year to sell a pedal a lucky web surfer would have came across and might be intrested bottom line don’t sell to guitar center if you want a fair price but if u need quick cash and don’t have time then go to guitarcenter in the other hand if you need gear..... buy from guitar center used for a better deal haha Reverbs the place for me but it’s been getting saturated lately , they only way to sell used on reverb anymore is to come in the lowest of there’s 30 identical charvels in diffrent colors used say that are say from the same plane model year ect is to come in 50 bux less and cut th shipping costs you might not get the price you wanted for t but you’ll sell it so much faster I’ve seen some guitars up there for a year private sellers won’t budge, and in the end have to come to terms with it and cut there loses now they just spent a year trying to save 50-70 bux and still get over 650.i cut the cost and get rid of it as fast as I can when it’s sitting it’s not getting you any new gear of what you really want .
While I agree that mods do not NECESSARILY add value, things like having Texas specials would increase value to a lot of people. If you put Fralin or Lollars in there anybody who knows anything would pay a bit extra, granted not the full cost of the mod. Now putting all black plastic and changing the hardware to gold would be a better example of mods that would only increase value to very specific people, IMO
Brandon, What I find most important in that whole modded situation as a "collector" and hobbyist is that all of the original parts should be included in the purchase. I would likely pay some extra, PROVIDED no new holes were drilled/routed (first new hole drilled kills resell for the most part). That way, I could return the guitar to a stock configuration. Then I could sell the extra parts, or use those parts in another guitar. Which is why I like buying things like "partscasters" because they can be had for beans to begin with, and who cares what you do to it after it's in your hands! It's not a vintage guitar, or expensive production guitar that you're gonna loose your shirt on because you changed this or relic'ed that to make it your own.
Still a vague example. Putting Texas Specials into a Mexican Strat might enable that guitar to fetch a bit more on the used market. Putting Texas Specials into a USA Yngwie Malmsteen Signature Strat, not so much.
...obviously. You were talking about a standard mim strat. It is relative. I would just draw a line between aesthetic/playability modifications vs electronic. I would take a texas special loaded mim over a standard mim all day, even if I wanted mim. You can flip those pickups and buy yourself standard mim ones with money left over
I would agree. I just find a texas special in a mim as a modification where you wouldn't get more money back as an odd example. If I wanted a Am Standard strat and they put a floyd rose trem in it now that is a mod that not everyone (or the majority of people) would pay extra for IMO
I think the big point here really is: In general mods do NOT generally increase a guitar's resell value. There are exceptions to that rule. But, it is a GOOD general rule of thumb. Replace the stock pickups out of ANY vintage guitar and see what happens to the value. Replace the stock pickups out of just about any upper mid and high end guitar and see what happens. Drill some holes in guitars for changing tuners or bridges and see if you can still fetch top dollar on the used market. Add a Bixby to a Tele, or Les Paul that didn't come with one from the factory and watch the value plummet. Changing electronics in a low to mid range guitar, while it may make it sound like sweet Jesus to you, likely isn't going to fetch the full amount paid for the mod on the market. Like a friend of mine used to say, "You know that little white speck on top of chicken crap? Well, that's chicken crap too! Ain't it?" Moral of the story, whatever you start out with, you'll still end up with it, no matter what you really do to it. If it's a MIM Strat, no matter what you do, it's still a MIM Strat, and will only realistically command market price of a MIM Strat.
A fender dealer told me that at the point where money changes hands between buyer and seller the guitar automatically drops 40% value. True? I don't know
Unless the seller has a return policy with a full refund, I’d say that’s pretty accurate. A new American Strat right now is about $1200-1300, but used they sell for about $700-750 all over the place, even the 2017 models.
The biggest problem I have with guitar center is there uneducated employees they often try to sway ppl away from what they are looking for to get gear that pays them commission if you return it it’s not gonna take there commission away I feel like most of them should be selling used cars when the employee I charge of the drum department knows more about guitars and bass/ keyboards/Pa than anyone in the store , even the manager there doin g somthing wrong.
That’s great, but what does any of this have to do with this video? Not only that, but tell me something genius: what makes you think that a GC employee still gets his/her commission on something they sell even if they return it? I was a longtime GC employee (I was actually a manager for 6 years), and you’re not even CLOSE to being correct. If you buy something from Guitar Center and return it, even at another store, the employee who sold that something to you takes the hit on his/her paycheck. And I don’t know what store you’re shopping at, but before you criticize their employees’ knowledge - or anyone else’s, for that matter - a good long look in the mirror might do you some good first.
ebay is not a reliable barometer of pricing on any item including guitars. An auction price can only determine what a single individual who may be caught up in the moment will pay. One person with more money than sense is not an accurate measure of the real market and that market varies from state to state and city to city. I do not believe using ebay or even suggesting using ebay for a way to determine value is helpful but instead wishful. Once any item has been purchased it is used and the value will drop and sometimes drop dramatically and I agree.
So, a collection of COMPLETED TRANSACTIONS - i.e. what an individual or several individuals ACTUALLY paid - for an item, regardless of the circumstances, “is not a reliable barometer of pricing”? What is more accurate than that? As far as the used gear market goes, differences in pricing from one market to the next quit being a thing over a decade ago because of the Internet. All markets now have the same access to the same resources to acquire such information.
you asked for comments and i commented sir. an auction format is not a accurate barometer due to the fact some people have a much more disposable income depending on the market in which they live. any particular item in the ebay format can and will fluctuate too much to really set a true market price. some get carried away and spend much more on an item in an auction than the actual value. if an item is advertised in the area where i live will sell for much less than a market with a different cost of living. i am not trying to say that you opinion is ACTUALLY wrong just that the item is not worth as much from area to area. Not all transactions for a similar item are even close to the same and can vary greatly from auction to auction. ebay prices are accurate in that format but there are many more factors to examine. i respect your opinions and ask the same in return.
Robert, thanks for the comments. I appreciate the common sense point of view. I would also be interested in hearing your comments on a couple of other related topics. First, how are geographic markets different? My personal observation is that smaller markets mean smaller prices but wondering what your thoughts are. Second, you touch on vintage gear a little bit but what are your thoughts on "vintage" gear versus "old" gear. It seems like there are some misconceptions about what vintage really means. I suppose that people can categorize their gear however they want but I see a lot of gear being advertised as vintage but in all reality it is just old.
Thank you so much for the kind words, it really means a lot to me! Glad to hear you enjoyed the video. I don’t see a lot of difference in pricing of used gear between various geographic markets anymore, thanks to the Internet, and eBay specifically. At least not in the U.S. There used to be quite a bit of variance from one market to the next. For example, I’m in the Indianapolis area. While this certainly is NOT a small market, the cost of living here is actually one of - if not THE - lowest in the country. So buying a used guitar was relative to everything else in this area. Drive a couple of hours north to Chicago - the third largest market with one of the HIGHEST costs of living in the country - and that same used guitar hanging on a shop wall up there would sell for quite a bit more. eBay leveled the playing field for everybody. Nowadays, that same used MIM Strat is worth about $300 whether your in Indianapolis, Chicago, New York, L.A., Paducah, Tennessee, Beaumont, Texas, or anywhere else. The reason for this is because, again, is because all of those markets now use the same resource to research what people are PAYING for a piece of used gear. As far as vintage gear goes, as it relates to the M.I. market, a good rule of thumb that a lot of people go buy to define the term “vintage” is anything 25 years old or older, OR in some cases, a piece of gear that is worth more now than it was when it was new. (Or obviously, in many cases, both of these things.) One thing to be aware of is that “vintage” does NOT necessarily mean “rare”, and it does NOT necessarily mean “collectible”. A 1959 Gibson Les Paul Standard obviously is all of these things. A 1975 Fender Silverface Twin Reverb is certainly old enough and might even be worth more than they were when they were new, but they’re anything BUT rare. You can buy them for $700-800 if you look hard enough. Something like that, or something like a really beat up or heavily modified Fender Mustang from the late 60’s are pretty easy to find, and they’re usually sought after by players looking for vintage tone or vintage feel but not the price tag. Those people want to PLAY them. Other examples of newer pieces of gear would be things like a PRS Dragon or an ESP Jeff Hanneman Signature S & Key (both guitars from the 90’s) that are not quite that old, but are worth more now than they used to be and do have some collectibility. I also mentioned in an earlier comment that, while they’re suddenly worth more now than they were when they were new, a Line 6 Echo Park Delay pedal is NOT the kind of thing we’re talking about here. (Those things are EVERYWHERE.) I may do a video specifically about vintage gear in the future after this one dies down a little bit because I’ve already gotten this question a few times. Thanks again for commenting. Hope this helps!
Great video and true to the point. Most people don't get it and the thing they don't get is depreciation. Selling gear you have to shut off the emotional attachment to it, because you can't sell sentimental, unless of course its a vintage 59 les paul, then you can sell sentimental lol
Yes, but the problem with selling a ‘59 Les Paul is 1) finding somebody who actually HAS that kind of cash, and 2) if you can’t find that somebody, then you have to rely on a reseller like a retail shop or a high-end auction house and either way you go you’re gonna take a pretty serious hit on it. The odds of selling a high-end vintage piece like that for full market value are extremely slim. Thanks as always for supporting my channel the way that you have, it really does mean a lot to me!
I have taken a hits on a few guitars over the years, but what I look at is how much use I got out of it. Most of the time if it sets and collects dust, I will pass it on to another musician for a reasonable price.I have been fortunate to be a regular gigging musician for quite a few years which makes getting gear a little easier money wise. Glad to support your channel, keep it going!
I agree 99.99999% with you. I usually buy MIM strats for $200-300 lightly used with a hard shell case off of let go, offer up or Craigslist.
I love selling and buying on Reverb.com. Ive gotten fair prices, and I don’t think I will ever let a store sell my gear again because they charge high rates. However, buying a guitar sight unseen is a little crazy, and shipping cost as a seller is expensive.
Great video. It’s not just a good primer for the guitar market in general, but also covers simple economics. This video applies to all things supply-and-demand. Good job.
Thanks man! Glad you enjoyed it!
Excellent video: honest and accurate.
Thanks man! Glad you enjoyed it. ;)
I have to agree with Steve on this. People do get very emotionally attached to their "PERCEIVED" value of their gear. Reverb is a haven for this especially in the vintage market. I am a proud owner of a vintage Gibby LP Custom (1975). When I was shopping for the one I now own, I made several REASONABLE offers on other guitars. Most were priced in the mid to upper $4k's which on a Norlin era Gibson is RIDICULOUS. Most recent sales on eBay and Reverb were in the $2800-$3800 range. The sellers asked me why I was giving lowball offers. I explained to them in a very nice way what the actual selling prices are vs asking price, and what I offered was fair market value. Now, I don't mind paying a fair market value for a vintage or any other instrument, but I'll be damned if you're gonna take me to the cleaners! Great video Robert, it's great to see somebody out there trying to educate the general public on what's real especially in our hobby/lifestyle. A little research and education goes A LONG way! Thanks man, and keep up the good work!
Thanks Dave! I couldn’t agree more. People on Reverb are asking astronomical prices for their gear, and it’s always been that way for some reason. A lot of people think that a used guitar is “going for” $XXX when all they’ve seen are asking prices. I felt the world needed some education on this. Thanks again for your kind words!
You are spot on Robert. The world does need an education. ESPECIALLY Reverb sellers. I can't blame a guy for wanting to make a dollar or two, but some of those prices... OUCH! I look at 'Verb, and even eBay, and prices are just all over the place on used gear, not just vintage. People just need to come back down to the really real world when it comes to actual resell prices and their perceived resell value.
Used American Special and Highway 1 Strats in great shape can be had on Craigslist for around $600 routinely where I reside. Basic used MIM Strats are are about $250 to $300 and are a hard sell. Great video!!
True. It wasn’t all that long ago, though; that the Special and Highway 1 Strats were around $400-500 used and the American Standards were around $700 used. Ah, the good ol’ days...
Glad you enjoyed the video!
Good video. These are the hard facts that some people just don't understand.
Thanks for this video Robert! It really helps a lot of people out ;) Cheers dude!
My pleasure! Glad you enjoyed it. ;)
@@RobertWJackson I always enjoy ur content cheers
Thanks man!
Your videos get better and better. keep it up !
Thanks man! Glad you think so, it means a lot to hear somebody say it. :)
Brilliant video. The only other aspect I can think of is when a manufacture changes factory ( usually resulting in quality loss ) that models
Associated with another factory become more desirable. The original Jap strats ( which were said to be much better than the USA ones )
Hold there prices well. Some epiphone models vary in value due to where there made.👍
Glad you enjoyed the video. Yes, that’s a good point!
Hi Robert,this video was great.And your absolutely right on with your assessment of the used market! Its like used cars,or new ones,as soon as you leave the store your guitar starts losing money.Trading and selling guitars for over 40 yes you learn one or two things.hahaha, and by the way check your autofocus,didn't get a clear video till about 3/4 in.Good video ,no matter.Have a good one bud.Peace
It's really great to have you on the show tonight Bob. How are you doing?
Bitchin'
Cheech and Chong... AWESOME!!! love the name!
DaveR Yeah , my friend looks like Cheech,and I look like Chong.But I love those movies.So I took the moniker for the memories.👍
Thanks Bob! As always, I greatly appreciate your feedback!
I've found a few really good deals at yard sales. Most times I must ask if they have any guitars for sale because they normally are not displayed. I made a really good deal on an Ovation Guitar, that had belonged to a family member who had passed several years ago. I bought the guitar for $75.00, with no case. I found a used Ovation hard shell case on eBay for $100.00. I bought it. Cleaned and polished the guitar. Replaced with top value strings and tuned it. It played really nice and was set up properly. Required minimal adjustments. Sold less than 2 weeks later for $600.00. I was happy. There are deals out there. Letting them go, or selling them is the most difficult.
Nice!
Robert i have a one of a kind joe strummer bass tele with active Jazz pick ups with 2 vol and 2 two Tones and a joe strummer garage flat black worn look thanks Robert !!!!! And i love the tone and one of a kind look that i had custom made for me !!!
Nice!
New MIM Strats are now around $650 and up. You can get a nice used USA Strat for that.
The old MIM Standard Series was discontinued a couple of months after being around for over 20 years and was replaced with the Player Series, which are the ones selling in the $650 range. But Fender upgraded A LOT of features on the new Player series from the old MIM Standards. Take inflation into account and the Player guitars really aren’t much more than the Standards used to be, but are MUCH better guitars. The used market has also come up on the American Standard Series Strats. I haven’t seen one sell for $650 in several years now unless it’s an old 90’s model (the necks sucked on those) or one that’s been beat to death.
Great video, people get very emotional about the value of their guitars and gear and hopefully this video will help resolve some of that. I would suggest if you are concerned about resale value stick with the major brands like Fender, Gibson, Martin or Taylor in guitars, they tend to hold more of their value than all the other guitars. Also, avoid the fad products (i.e. guitars like Jackson), when the fad goes away the resale value drops like a rock. Also remember that if you sell it to a wholesale buyer (i.e. Guitar Center, Sam Ash, pawn shop) you won't get anywhere near the market value since they need to resell it and make a profit. Thanks for the video, keep up the good work!!!
Thanks man! Glad you enjoyed it!
Steve,
I hear ya. From what I've discovered, when you take your guitar to a reseller (i.e. Guitar Center, Sam Ash, local Mom & Pop) they'll offer you about 50%-60% of resell value. Example: My 2013 American Standard, new was $1300, I bought it used for $750 2 years ago from GC. I could take it back in and they'd offer me likely about $450 for it today which is 60% of resell. Then they could price it for $750-$850 and get in that ballpark figure for it all day long. It's just how that works. Pawn shops are a bit worse, they typically offer about 33%-45% of resell, then price it for $1000.
Hey DaveR, perfect example, if I wanted to sell any of my gear, I would use Reverb/EBAY for that exact reason even though it is such a hassle. Walking away from $300 is hard to do because I am just being lazy. I like Reverb a little better than EBAY, but no doubt it is still a hassle. I would actually buy more on Reverb if people were not so difficult to deal with. Good guitars like G&L, Framus, Heritage all depreciate like crazy, the only way to really buy those guitars is used, you can get a really sweet deal.
Steve,
For sure. When I bought my Gibby, I bought it on Reverb. The transaction wasn't as smooth as I would have liked, but it worked out well enough in the end. I am definitely more in the camp of buying on Reverb over eBay. Not that eBay is bad, or anything, it's just Reverb is more of a haven for us musical types and GASsers(Guitar/Gear Acquisition Syndrome). Some good deals can be found on either platform, and even on Craigslist, however, at least with Reverb and eBay the buyer and seller have more protections.
I'm sure you remember on Superbowl Sunday a friend of mine wanted to sell me a Schecter PT Diamond Series guitar. My friend said to me now that it's out of the box and has been played,it's now considered a used guitar. Him and his wife took it to Guitar Center and they were going to buy it for $175.00. They took it to a pawn shop they would buy it for $125.00. This friend was going to sell it to me for what the pawn shop was offering. I know it's sounds to good to pass up,but I'm glad I did.I looked on Guitar Centers web site and they are all used and range anywhere from $150.00 to $300.00. But what really sucks about selling a used guitar is this. The seller gets very little for it while the store sells it to the buyer for double the price.
Nobody holds a gun to anybody forcing them to sell it to a reseller. Resellers like GC and pawn shops have to make a profit on it. If somebody wants full market value for their gear, they’ve gotta be willing to do the legwork required to find a buyer and sell it on their own.
@@RobertWJackson Hold your fire! We don't need a gun here!
🤣🤣🤣🤣🤣
Works pretty good. I just nabbed another 2016 LTD ec 1000 Vintage black with emgs for 400 bucks.
Nice!
Robert's Guitar Dungeon came with a gator hardcase as well. I'm trying to get my buying done before the income tax price hikes.
Yeah, I don’t blame you there.
I bought one a while ago, saw this one on sale and bought another. I've played a Gibson Les Paul for decades and these are inexpensive and really slay. I'll have a stable of them if I can keep finding them near me for 300-400
Great video and good advice. I will check ebay completed listings to help determine value. People have guitars sitting out there forever at ridiculous prices.
Thanks, glad you enjoyed it! That’s actually one of the main reasons why I decided to do this video.
Spot On!
Apologies for the F'ed-up "strike-thru" on previous post?...NO idea how/why that occurred & I don't have time/knowledge to fix it rite now...sorry! LoL
As the sign, that we used to place above the cash register says: 90 days, the same as 3 months!
Great information thank you.
My pleasure! Hope it helps. ;)
Another great video! I have been telling people the same thing as you did. I have to Mexican Strat and used I paid $300 bucks and I dumped a lot into it. I am never selling it but you know it might be worth $250 after I made it my guitar. The my guitar thing is a money pit. Thank you!
My pleasure!
Robert's Guitar Dungeon I bet it is just that!
I have purchased several used guitars over the years. I don't mind paying a reasonable price but I have seen people wanting more than retail because they think their stuff appreciates in value. Some prices I have seen makes me think these people believe their stuff is made of gold.
And don't mod a guitar then try to sell it to me and try to get your money out of the aftermarket stuff. I only buy stock stuff unless the deal is too good to pass up, which rarely ever happens.
There aren’t nearly as many people out there who understand any of this. It drives me crazy.
Remember back a few years, when American made Gretsch guitars were retail dogmeat! Meaning well under $500 retail!
Not really. I’ve NEVER seen a USA Gretsch sell for that low. Especially since they weren’t in production in the U.S. for so many years, other than the occasional Custom Shop model.
@@RobertWJackson They wouldn't move in 1980.
Hollowbodies and semi-hollowbodies in general didn’t sell real well in the 80’s, though.
Even back in the day music gear resale drops half price as soon as you walk out the door with it.
Hey Robert! Great video! Cool channel!
Thanks man! Glad you enjoyed it!
Excellent video! As someone who buys, trades and sells gear often I have learned this the hard way over the years but I'm constantly running into people who don't understand why they can't get $550 for the Epi Standard Pro and 15 watt Line6 amp they paid $700 for a few months earlier.
One thing I would add is value to the buyer. Someone was looking to trade a 2015 Gibson Trad Pro 3 for a Strat plus cash. I had a 2014 Am Strat so I msged him. When we met he loved the strat and said he would just trade even if I wanted. The strat was mint but so was the LP. I noted that the LP was worth more but his response was, not to him. He said he simply couldn't play it well, especially at the higher frets so basically it was just sitting there while this would give him something he could actually play and wanted. I had got the strat used at GC a couple of years earlier. They had mis marked it so I had picked it up for $650 (the Asst Mgr freaked when he handed me the matching case that still had the original receipt from 3 months earlier for $1400. So in many ways I picked up a LP that usually runs about ~$1450 used for $650. But I know the new owner of the Strat is happy and I'm very happy, I love the Trad Pro. In that case it wasn't really the actual value as much as it was the perceived value to the buyer and seller.
Marb's Music: That is how trades should work. You did very well sir! GC is the one that made that deal work out for the better for you monetarily. Both parties are happy, and no one felt in the least bit slighted. Plus you did the right thing by offering some cast to boot.
I couldn't agree more about your first comment though. I will say this, I will never buy another new guitar, due to the depreciation. There's a million used out there that can be bought for about 55-60% or less of new prices, and then you don't take the hit if you plan to resell. The biggest caveat of that is like Robert talked about in the video, that is very limited and numbered runs/editions. Those have a much higher potential to hold value, and in some cases appreciate.
That’s true. Like I said, a used piece of gear is only worth what somebody is willing to pay for it.
what you're saying sure makes sense. no arguments from me.
Hey Robert! I dig your channel. I also have a YT channel on guitars and I appreciate the way you lay things out. Good stuff. PS...I have a friend that was flipping Analog man pedals years back...exactly the way you described it.
Keep it up brother.
Thanks man! Glad to hear you’re enjoying my videos. What’s your channel link?
its the same as my name (Whip's Cheap Guitars).
Cool, I’ll check it out!
Is that a Yamaha G 100 head on your right hand side if so I have one of those things very cool
You forgot the wife wants me to sell it price. That's where people post gear for sale for more than new advertised price because their wife wants them to sell that junk! Great job trying to explain "why" to some of the knothead sellers out there. You need to do a video explaing a Squire or Epiphone is not a Fender or Gibson. Even though I would rather have an Epiphone.
LOL I may do that, actually!
This is a good video. Thumbs up.
Thanks man! Glad you enjoyed it!
Does my Rickenbacker 350v63 gain value? Or, when I get it, will my Rickenbacker 381/12v69 increase in value???
It’s difficult to predict, but in my experience Rickenbackers tend to do pretty well on the used and vintage markets. (Rickenbacker is actually a nightmare of a company to deal with for both dealers and customers, so a lot of people feel that the used market is the way to go on those.) As far as those guitars increasing in value, currently I’d say the chances of that happening are pretty good, but it’s not going to happen overnight, or even anywhere near it. Like I said, it’s difficult to predict what will be important as far as value on the used and vintage markets in another 25-30 years. My advice is to do what I do: hang on to everything for dear life! LOL
ThankYou Very Much For That; Appreciate Your Reply. I Will Hang On To Them! Happy New Year From Masterton, NewZealand.
I have a 9 to 18 month wait on the Ric 381/12v69 Fireglo. I ordered last May & have no idea on my order's progress. What I do know, is that it will be brand new out of the factory. My Impoter will be taking 15%, which is better than the 50% you have to pay in retail in this country. But that's the distribution structure here.
Guitars and Harleys, want most back at point of sale? Never modify from factory.
Loved this video...New Sub...My own experience with the "guitar market" supports everything you said in this video. I am going back now, to watch the previous vid's you referenced at the beginning. I am curious , if you have any experience or knowledge regarding these various, "House Brands" (for example "Harley Benton" from Thommann MusicHaus in Germany)...After seeing hundreds of youtube vids, & playing a buddies LP Std knock-off that he brought over to show me & have me look over...& I was STUNNED at the overall quality... -(caveat: I KNOW they are not ALL this good, but,Gibson doesn't have exactly 100% "cust. satisfaction" rating on QC either) ...-after playing & loving it...I bought a Harley B. "Vintage Series" LP copy, w/ Wilkinson PAF's (really pretty good P'ups too) a REAL solid-Maple capped, supposed to be a veneer AAAA -SOLID capped (turns out, somehow mine is NOT a veneer! I checked both holes when I pulled the P'ups, & totally re-wired w/CTS pots etc. ..., w/all Wilkinson branded bridge/hardware (China made --obviously-...but, whose shit ISN'T made in China?) ...But, this thing is a SET-neck, solid mahogany, yada,yada,yada, virtually identical to a USA Les P....DELIVERED to FLA for $210 ! -that is including the $35 shipping cost!! WTF?!?! How can they DO that? Paying employees less money cant be ALL there is to this low-ass price...I did a fret-job (didnt REALLY require a full-on fret-job, but I "build" parts-casters & work on & flip/trade guitars for friends & fam & for my own use as a hobby, & this is one I will NEVER sell anyway....."Xavier" is another, similar brand..."Greg Bennet" is another brand as well...Just curious about this stuff....almost NO guitars -other than "custom-shop"- are actually MADE in USA...Many are either "assembled in USA" or "set-up in USA" (i.e. Schecter...another GREAT instrument as far as Cost/Benefit goes...I have a "made in Korea" Schecter from the early 2000's period that plays as good as ANY guitar --including various "custom-shop" -- that I have personally ever held in my hands...& I paid $300/used -& put 5-6 hours of my own work, plus another $150 in locking tuners & roller-bridge into it...Sorry to ramble, but IMHO the long & short is...If you HAVE the tools (not much tools needed) & have the skills/desire/WILLINGNESS to put a half-dozen hours of work into them? There are some FANTASTIC "affordable" guitars around these days (I wont say, "cheap" cause that sounds too negative)...Compared to the late 70's / early 80's, when I picked up a guitar??!! It is DEFINITELY a "Buyers Market" nowadays...A $150 Squier Bullet series is an incredible instrument compared to what the same $$ would buy you back in 1980....Thanks again! Keep em coming, Robert! Best Regards...S.F.
Thank you so much for the kind words! Glad you enjoyed the video. I haven’t played one of the Harley Benton guitars yet, but I am very curious to try them out because I’ve heard nothing but great things about them. I love Schecters, even the import models. Since you’re new to my channel you might not be aware of this, but the vast majority of my pedals demos are done with a Schecter SLS Blackjack, which is a $900 or so guitar made in South Korea.
I can find almost nothing re: my Schecter, it is a Bolt-neck.... (w/a Fender-style neck-plate on back- which says, "Schecter Diamond Series- 1840 Valpreda St, Burbank, CA" on it) ...most Schecters -to my knowledge- which isn't much-- but usually the ones I've seen don't have a neck-plate on back of the body? - Do they? at least as far as I know, they don't) ....anyway, it says, "Schecter, Diamond Series" on Head-stock, & on the truss-rod cover it says "Gryphon". All I have been able to find on them is that they were "Guitar Center Special's " i.e. only available thru GC . Strat-shaped, arch-top, w/flamed veneer (I am assuming its veneer) ..finish is Transparent Black/Grey, w/"Duncan designed" HB P'ups -w/coil-split on single-tone knob & Grover (China) hardware...WHATEVER the details of this particular model, it plays like a friggin DREAM...& I bought it used in 2012, (still has a sticker on the back that says, "Set-up to play by Schecter USA " & signed by "inspector #10" ...Best of ALL? I only paid +/- $250 shipped to my front door! I am going back to watch all ur older vids now...Thanks so much man!...cya!
Sounds like an old Schecter Gryphon. Good affordable guitars. ;)
guitar prices have gone insane
Cool dude you look like the Pawn Star guy :-)
Ive actually sold gc used gear for more than what i paid for it on more than 1 occasion
It’s definitely no unheard of. In that instance, everybody makes money!
Great happy new year
i always agree with you my friend 9 out of 10 times weekly and that is is a pretty good track record my friend and if were running a baseball team our record would be 900 we would win 9 out of 10 times and everybody and there mother would want us to run there teams why cause for every 10 players we have 9 out of 10 would be winners Think about it ??
Right you are! LOL So are you saying you want to go in on a baseball franchise together?
Guitar center used is good and bad it’s good for buying especially online since you can search all the guitar center stores for a used piece of gear and it will be shipped to your closest store a lot of times they sell used gear with upgrades like new parts pickups ect if you can identify in a picture or 2 if your lucky or call them and ask the specta directly selling items to them is a pain they give you 40% if what it’s worth,Example I had a fuzz that was 200 brand new I used it 4 times new it wasn’t for me and wanted to trade it in for another pedal even tho I got it off reverb they offered me $40 I took it so I could get another pedal but I know I could have gotten a better deal if I sold privately but it would have sat. Next time I went in there a week later they had it in the display for $180 It was brand new in box if there was tape on the box closing it you would think it was brand new never used point being id much rather take the loss and get what I really wanted and needed than wait a year to sell a pedal a lucky web surfer would have came across and might be intrested bottom line don’t sell to guitar center if you want a fair price but if u need quick cash and don’t have time then go to guitarcenter in the other hand if you need gear..... buy from guitar center used for a better deal haha
Reverbs the place for me but it’s been getting saturated lately , they only way to sell used on reverb anymore is to come in the lowest of there’s 30 identical charvels in diffrent colors used say that are say from the same plane model year ect is to come in 50 bux less and cut th shipping costs you might not get the price you wanted for t but you’ll sell it so much faster I’ve seen some guitars up there for a year private sellers won’t budge, and in the end have to come to terms with it and cut there loses now they just spent a year trying to save 50-70 bux and still get over 650.i cut the cost and get rid of it as fast as I can when it’s sitting it’s not getting you any new gear of what you really want .
While I agree that mods do not NECESSARILY add value, things like having Texas specials would increase value to a lot of people. If you put Fralin or Lollars in there anybody who knows anything would pay a bit extra, granted not the full cost of the mod. Now putting all black plastic and changing the hardware to gold would be a better example of mods that would only increase value to very specific people, IMO
Brandon,
What I find most important in that whole modded situation as a "collector" and hobbyist is that all of the original parts should be included in the purchase. I would likely pay some extra, PROVIDED no new holes were drilled/routed (first new hole drilled kills resell for the most part). That way, I could return the guitar to a stock configuration. Then I could sell the extra parts, or use those parts in another guitar. Which is why I like buying things like "partscasters" because they can be had for beans to begin with, and who cares what you do to it after it's in your hands! It's not a vintage guitar, or expensive production guitar that you're gonna loose your shirt on because you changed this or relic'ed that to make it your own.
Still a vague example. Putting Texas Specials into a Mexican Strat might enable that guitar to fetch a bit more on the used market. Putting Texas Specials into a USA Yngwie Malmsteen Signature Strat, not so much.
...obviously. You were talking about a standard mim strat. It is relative. I would just draw a line between aesthetic/playability modifications vs electronic. I would take a texas special loaded mim over a standard mim all day, even if I wanted mim. You can flip those pickups and buy yourself standard mim ones with money left over
I would agree. I just find a texas special in a mim as a modification where you wouldn't get more money back as an odd example. If I wanted a Am Standard strat and they put a floyd rose trem in it now that is a mod that not everyone (or the majority of people) would pay extra for IMO
I think the big point here really is: In general mods do NOT generally increase a guitar's resell value. There are exceptions to that rule. But, it is a GOOD general rule of thumb. Replace the stock pickups out of ANY vintage guitar and see what happens to the value. Replace the stock pickups out of just about any upper mid and high end guitar and see what happens. Drill some holes in guitars for changing tuners or bridges and see if you can still fetch top dollar on the used market. Add a Bixby to a Tele, or Les Paul that didn't come with one from the factory and watch the value plummet. Changing electronics in a low to mid range guitar, while it may make it sound like sweet Jesus to you, likely isn't going to fetch the full amount paid for the mod on the market. Like a friend of mine used to say, "You know that little white speck on top of chicken crap? Well, that's chicken crap too! Ain't it?" Moral of the story, whatever you start out with, you'll still end up with it, no matter what you really do to it. If it's a MIM Strat, no matter what you do, it's still a MIM Strat, and will only realistically command market price of a MIM Strat.
A fender dealer told me that at the point where money changes hands between buyer and seller the guitar automatically drops 40% value. True? I don't know
Unless the seller has a return policy with a full refund, I’d say that’s pretty accurate. A new American Strat right now is about $1200-1300, but used they sell for about $700-750 all over the place, even the 2017 models.
Excellent!!!!!
No surprises.
The biggest problem I have with guitar center is there uneducated employees they often try to sway ppl away from what they are looking for to get gear that pays them commission if you return it it’s not gonna take there commission away I feel like most of them should be selling used cars when the employee I charge of the drum department knows more about guitars and bass/ keyboards/Pa than anyone in the store , even the manager there doin g somthing wrong.
That’s great, but what does any of this have to do with this video? Not only that, but tell me something genius: what makes you think that a GC employee still gets his/her commission on something they sell even if they return it? I was a longtime GC employee (I was actually a manager for 6 years), and you’re not even CLOSE to being correct. If you buy something from Guitar Center and return it, even at another store, the employee who sold that something to you takes the hit on his/her paycheck. And I don’t know what store you’re shopping at, but before you criticize their employees’ knowledge - or anyone else’s, for that matter - a good long look in the mirror might do you some good first.
You and Rick - separated at birth?
Dunno. Maybe??? We’ve got the same haircut. LOL
ebay is not a reliable barometer of pricing on any item including guitars. An auction price can only determine what a single individual who may be caught up in the moment will pay. One person with more money than sense is not an accurate measure of the real market and that market varies from state to state and city to city. I do not believe using ebay or even suggesting using ebay for a way to determine value is helpful but instead wishful. Once any item has been purchased it is used and the value will drop and sometimes drop dramatically and I agree.
So, a collection of COMPLETED TRANSACTIONS - i.e. what an individual or several individuals ACTUALLY paid - for an item, regardless of the circumstances, “is not a reliable barometer of pricing”? What is more accurate than that? As far as the used gear market goes, differences in pricing from one market to the next quit being a thing over a decade ago because of the Internet. All markets now have the same access to the same resources to acquire such information.
you asked for comments and i commented sir. an auction format is not a accurate barometer due to the fact some people have a much more disposable income depending on the market in which they live. any particular item in the ebay format can and will fluctuate too much to really set a true market price. some get carried away and spend much more on an item in an auction than the actual value. if an item is advertised in the area where i live will sell for much less than a market with a different cost of living. i am not trying to say that you opinion is ACTUALLY wrong just that the item is not worth as much from area to area. Not all transactions for a similar item are even close to the same and can vary greatly from auction to auction. ebay prices are accurate in that format but there are many more factors to examine. i respect your opinions and ask the same in return.
Robert, thanks for the comments. I appreciate the common sense point of view. I would also be interested in hearing your comments on a couple of other related topics.
First, how are geographic markets different? My personal observation is that smaller markets mean smaller prices but wondering what your thoughts are.
Second, you touch on vintage gear a little bit but what are your thoughts on "vintage" gear versus "old" gear. It seems like there are some misconceptions about what vintage really means. I suppose that people can categorize their gear however they want but I see a lot of gear being advertised as vintage but in all reality it is just old.
Thank you so much for the kind words, it really means a lot to me! Glad to hear you enjoyed the video.
I don’t see a lot of difference in pricing of used gear between various geographic markets anymore, thanks to the Internet, and eBay specifically. At least not in the U.S. There used to be quite a bit of variance from one market to the next. For example, I’m in the Indianapolis area. While this certainly is NOT a small market, the cost of living here is actually one of - if not THE - lowest in the country. So buying a used guitar was relative to everything else in this area. Drive a couple of hours north to Chicago - the third largest market with one of the HIGHEST costs of living in the country - and that same used guitar hanging on a shop wall up there would sell for quite a bit more. eBay leveled the playing field for everybody. Nowadays, that same used MIM Strat is worth about $300 whether your in Indianapolis, Chicago, New York, L.A., Paducah, Tennessee, Beaumont, Texas, or anywhere else. The reason for this is because, again, is because all of those markets now use the same resource to research what people are PAYING for a piece of used gear.
As far as vintage gear goes, as it relates to the M.I. market, a good rule of thumb that a lot of people go buy to define the term “vintage” is anything 25 years old or older, OR in some cases, a piece of gear that is worth more now than it was when it was new. (Or obviously, in many cases, both of these things.) One thing to be aware of is that “vintage” does NOT necessarily mean “rare”, and it does NOT necessarily mean “collectible”. A 1959 Gibson Les Paul Standard obviously is all of these things. A 1975 Fender Silverface Twin Reverb is certainly old enough and might even be worth more than they were when they were new, but they’re anything BUT rare. You can buy them for $700-800 if you look hard enough. Something like that, or something like a really beat up or heavily modified Fender Mustang from the late 60’s are pretty easy to find, and they’re usually sought after by players looking for vintage tone or vintage feel but not the price tag. Those people want to PLAY them. Other examples of newer pieces of gear would be things like a PRS Dragon or an ESP Jeff Hanneman Signature S & Key (both guitars from the 90’s) that are not quite that old, but are worth more now than they used to be and do have some collectibility. I also mentioned in an earlier comment that, while they’re suddenly worth more now than they were when they were new, a Line 6 Echo Park Delay pedal is NOT the kind of thing we’re talking about here. (Those things are EVERYWHERE.)
I may do a video specifically about vintage gear in the future after this one dies down a little bit because I’ve already gotten this question a few times. Thanks again for commenting. Hope this helps!
Great video and true to the point. Most people don't get it and the thing they don't get is depreciation. Selling gear you have to shut off the emotional attachment to it, because you can't sell sentimental, unless of course its a vintage 59 les paul, then you can sell sentimental lol
Yes, but the problem with selling a ‘59 Les Paul is 1) finding somebody who actually HAS that kind of cash, and 2) if you can’t find that somebody, then you have to rely on a reseller like a retail shop or a high-end auction house and either way you go you’re gonna take a pretty serious hit on it. The odds of selling a high-end vintage piece like that for full market value are extremely slim. Thanks as always for supporting my channel the way that you have, it really does mean a lot to me!
I have taken a hits on a few guitars over the years, but what I look at is how much use I got out of it. Most of the time if it sets and collects dust, I will pass it on to another musician for a reasonable price.I have been fortunate to be a regular gigging musician for quite a few years which makes getting gear a little easier money wise. Glad to support your channel, keep it going!
Good vid as usual thanks Robert .Always appreciated.