Value of this 1961 Les Paul SG?

Discussion in 'Vintage SG' started by andy.glines, Oct 29, 2009.

  1. andy.glines

    andy.glines Junior Member

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    Hello everyone,

    I've never used this forum before but i've been trying to find a relative value for my grandfathers Gibson. He bought the guitar in 1969 for $100 in northern South Dakota. He played it some but then it was in his closet til he let me play on it when I was in highschool in 2000-2004. When I first had it appraised, the dealer told me $4k. and my grandpa was ecstatic! I've had other estimates up to $50k!!!

    I know it's not worth 50,000 but i'm really trying to find the real value so we can sell it. He is old and I don't play it and he would like to let somebody appreciate it.

    Here are some pictures:

    Image hosting, free photo sharing & video sharing at Photobucket

    It has original PAF's and i had new strings put on it.

    Next question is: How do i go about selling it? i don't want to sell it to a dealer so they can get their profit so i would like to go straight to a collector but don't know how.

    ANY HELP WOULD BE APPRECIATED!!!

    Thanks,
    Andy
     
  2. dennistruckdriver

    dennistruckdriver V.I.P. Member

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  3. NateM

    NateM Senior Member

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    What an awesome guitar! The market is kind of rough for vintage SGs right now so I might wait for a while before I would sell it. This site has a couple of guitars posted that might help you in getting an idea. They have a 1961 SG on page 2 that looks a lot like yours going for 20k.

    GIBSON LES PAUL CUSTOM (1961) - Elderly Instruments

    -Nate
     
  4. 767400

    767400 Senior Member

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  5. PapaSquash

    PapaSquash Senior Member

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    If it were mine I'd keep it. And learn how to play.

    In fact, I'm doing just that now. I'll pass it from Grandpa to one of the Granddaughters one day.
     
  6. diceman

    diceman V.I.P. Member

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    Definitely a keeper! Very nice.
     
  7. Greg's Guitars

    Greg's Guitars Senior Member

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    1961 SG Special ( if this is what this is ) books at 9K retail
     
  8. LPSGME

    LPSGME Senior Member

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    In today's market you are probably looking in the $10K area, plus or minus.

    Here's a recent eBay ad for one;
    Gibson 1961 sg - eBay (item 190341008117 end time Oct-20-09 19:11:19 PDT)

    Up close it looks like your's has been knocked around some [so you'll likely take a hit on that] but it at least there haven't been any neck or headstock repairs as many often have.

    You can always try an auction with a reserve price. But you'll need to unscrew the pickups and take some good photos of their covers and particularly their bottoms. Be careful to not accidently scrape the "patent applied for" label. If the covers look like they have never been unsoldered then you should leave them untouched. If your grandfather got it in '69 then it's extremely unlikely that they were ever tampered with. But a buyer will need some good photos of those pickups; also show inside the control cavity under the rear plate.

    Take some good photos of the neck and frets. I think the standard SG also [along with the Custom] had 'Fretless Wonder' frets. Hopefully they are not too worn because they are extremely low to start with.

    The better you show these things the more likely someone will buy.
     
  9. rockstar232007

    rockstar232007 Senior Member

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    Try again Junior (if in fact you ARE young).

    My Uncle's '61 SG (in WAYYY worse condition than that!) was recently appraised [by George Gruhn] for $17,500-$25,000. The worst part is, he ONLY paid $1,200 for it...in 2007! (LONG story).
     
  10. LPSGME

    LPSGME Senior Member

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    No way. The only Les Paul SG that might bring that anywhere near that kind of price is a MINT '61 SG Custom.

    If you had clicked on the ebay link I listed in my post, you will see a '61 SG that didn't sell for $9,000.]
    http://cgi.ebay.com/Gibson-1961-sg_W0QQitemZ190341008117
     
  11. xguitardevilx

    xguitardevilx Senior Member

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    I'd say 12k-15k not in the 20k price range though.
     
  12. geochem1st

    geochem1st V.I.P. Member

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    Thats an SG Standard, I have a 61 SG Special... they came with P90's only.
     
  13. mmcquain

    mmcquain V.I.P. Member

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    I just sold one of these 61 SG Standards last month to a forum member. I won't say the specific price but I will say that LPSGME's estimate of $10K sounds right to me (give or take) if the guitar doesn't have any neck or headstock repairs. The one I sold had a solid (but not pretty) neck repair and I took a price hit because of that. Otherwise it did have the original PAFs, case, etc. PM or email me offline if you want anymore info. Here's a couple of pics for comparison:

    [​IMG]

    [​IMG]
     
  14. Dolebludger

    Dolebludger Premium Member

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    I've got one of these that is almost mint. A bit fewer finish blemishes that the one in the OP, correctly marked volume and tone knobs, and the original pup selector lever cover. We have a very good luthier in my community, who consulted some reference books as to my guitar's value. Apparently they have "valuation books" on guitars just like the NADA and Kelley Blue Book on cars.

    He came up with a value of between $20K and $25K. HOWEVER, he also said that the economic recession had negatively impacted the prices buyers pay for collectors' guitars. In this economy, he said to expect about $15K. He advised that I hold onto it until the economy improves. He also said that the guitar will turn 50 years old in less than two years, and that may bump up the value.

    I'm keeping mine until at least 2011, and see what they are selling for then.

    Also, I note that the neck joint on the specific guitar shown directly above is much different than mine. My neck smoothly blends into the body with no notches of the bottom or sides of the joint. If they are both '61s (and I know mine is as I bought it new the day after Thanksgiving, 1961) I am curious about this difference.
     
  15. geochem1st

    geochem1st V.I.P. Member

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    I have a 61 SG Special that has a smooth neck joint as you describe.
     
  16. Dolebludger

    Dolebludger Premium Member

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    Further, where did that metal plate behind the front strap button come from? My '61 SG LP Standard doesn't have any such thing. There is one on ebay that is more beat up than the one in the pic and WAY more beat up than mine for $15K but no bids. As I mentioned above, the vintage collectors' market for guitars has virtually collapsed. Since my first post on this thread, I have talked to some other experts who said that a few years ago, these in good condition and no mods did sell in the $2K to $25K range, but now they are more in the $10K to $15K range.
     
  17. SG Lou

    SG Lou Senior Member

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    That neck plate was added to beef up the neck joint from an earlier break.
    That plate isn't original to the guitar.
     
  18. lioncool

    lioncool Junior Member

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    I own a Les Paul Junior 62 (SG shape) and a 65 SG special and I really think those guitars will never find their equal, time is on their side. Yes it is !

    Your guitar is a beauty, keep it !
     
  19. Cookie-boy

    Cookie-boy Senior Member

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    Great advice!:thumb:
     
  20. Big Red

    Big Red Senior Member

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    Bear in mind that the OP guitar is an SG/LP Standard, not a Special, and if it has original PAFs these are worth several thousand dollars on their own!
     

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