Why do people think their LP's are worth so much?

[bajasdogs]

I have been buying and selling PlayTapes on ebay for a lot of years! I seen the market go through highs and lows and recently it has bounced back. Funny thing is them rare Beatles PlayTapes are still down while common ordinary tapes are up! I'm the premire go to person on the web and this year I started setting prices according to rareness or on what people want. After I have watched many try to drive the price up and the time I have in I have learned how to set fair market value. Fair market value is what any given person is willing to pay on any given day! LOL!!! I'm turning a 400% profit on Items I list and sell! It's pretty cool! Same goes with guitars! If your willing to pay for it I'll sell it to you! But of course I'm stupid and only mark shit up $100.00 or $200.00 and people leave here thinking they ripped me off! I don't know what's worse them thinking they ripped me off or me thinking I ripped off the original seller! But it hurts everytime them damn buyers leave with that fricken shit eating grin!!! LOL Like the guy who bought that $2,000 custom shop NOS Fender off me for $1.650.00 last week that I only payed $1,500.00 a year ago! I kept the custom shop picks and the five way switch + I loaded that near mint thing full of pick marks!! LOL He think's he stole that bitch from me! I think he needs a swift kick in the ass for thinking he pulled one over on me! LOL next time I'll charge him more!

 

[Kamen_Kaiju]

Why does Gibson think a Custom Shop with a signature on it is worth $12,000. ?

they're worth what people are willing to pay for them.

 

[Ace1432]

because people still seem to think that in this day and age, you can re-sell a guitar and make 'good' profit.

unless it is a vintage piece, you are generally always going to take a hit on the price.

 

[RedSkwirrell]

Any guitar is only worth what someone will pay for it.

 

[Tone deaf]

It's a good question. For everyone else, they are off their rockers. For my guitars, well, the fact that the they were mine and that I played them really drives the value, especially from a collectors point of view.

 

[LeftyF2003]

Maybe they look at the list price?

 

[battra]

Beg to differ.

"things last as long as Les Pauls....hence...not valuable" THen why is a 59' LP worth so much? Or any early , heck any 60s LP?

First, if there is a market for something, a demand, then there is value. IF there are people willing to pay X for Lionel Train Set B, then there is Value X.

More to the point, there are a LOT of model train enthusiasts and collectors. And as a general rule,most earn a decent income. MANY of the collectors collect Lionel. SOME sets are worth serious cash. It all depends on how many were produced AND bought, aka out in the world. Yes, some sets are worth little more than their adjusted for inflation used price back when. But, it's not true for all.

We're nitpicking but allow me...step by step.

59's are worth so much because few of them were made and they have more intrinsic value, i.e. the sound. Moreso, there is also a large deal of perceived value in the 59 Les Paul. Hence the R9's and the very high priced VOS aged reissues.

As for Market, there is no market for a run of the mill Lionel Train set, at least not to the point that they are no more valuable than a current Lionel train set. There is no more demand for the 1965 version of the standard Lionel Train set than there is the 2013 Train set. (I did sell them for quite some time.) If Lionel released a retread of a set from the 60's, 50's, etc, it wouldn't be worth thrice as much as the standard set, because there's no intrinsic or perceived value to increase the price that much.

See, I sold model trains. I dealt with the general public in the most popular model train store in St. Louis at the time. I know whom the collectors are and what kind of incomes they have.

90% of the collectors in this day and age do NOT purchase Lionel Trains.

They either use HO or N gauge due to the realism involved. O2 and O gauge trains are cartoonish, much like G gauge trains. HO is the most bang for the buck, though lacking the turn radius realism of the N gauge trains, and are about 10 times more realistic than Lionel. Especially if one wants modern trains, or even diesel engines. Not much there in O gauge and the three rail track will turn off most model train enthusiasts quickly.

No, as for the incomes, most train collectors (save the nutbars like my friends dad who BOUGHT a boxcar to join a boxcar owners club and the one guy who bought a great deal of Chicago Northwestern merchandise from me as he had just purchased a CNW boxcar) are not well to do people.

They buy HO, where you can get a fabulous engine for $65 or a car for $5. Lionel is much, much more expensive.

A few collectors collect Lionel. A couple sets are worth serious cash.

Correct, most sets aren't worth anymore than the current sets, and just because your set is old, it doesn't mean it's worth a damned thing. Kind of like Les Pauls.

There are 30 year old plus Les Pauls that are only worth $2000 now....

I hope now you see my point.

 

[NRBQ]

because people still seem to think that in this day and age, you can re-sell a guitar and make 'good' profit.

unless it is a vintage piece, you are generally always going to take a hit on the price.

That depends on what you were able to buy the guitar for on the secondary market. It's the same thing as a car dealership, if they can take a trade in for the right price, they can make a profit when they sell it. I am always keeping my eye out for a bargain to flip and although they don't come around too often if you're smart you can flip at a profit most if not all the time. I do it not to make a profit so much as to reduce the cost of the guitars I want to keep, which makes owning a LP or American Strat much less burdensome.

 

[michaelinokc]

I think extreme prices are driven by either the desire to make a huge profit from an unsuspecting fool or the desire for an unsuspecting fool to get his money back after spending too much.

 

[Shawn Lutz]

Because they smoke crack. I saw a 2000 desert burst Classic Std with a price tag of $2500.00....you can buy some super sweet Lesters in that range...I scored a 57 RI last week

I don't know why people don't check market prices before listing a price. Forget whatever you paid for the thing, it is only worth what someone else is willing to pay. Scour eBay for guitars like yours that SOLD, not what other crack heads have theirs listed at

 

[geezberry]

1991 Gibson SG Special One Owner Yellowed White Played Very Little | eBay .......

 

[Shogun]

^ maybe he wrote a 0 to much?

 

[GibsonMarshallGuy]

1991 Gibson SG Special One Owner Yellowed White Played Very Little | eBay .......

Holy shit!! That's funny!!

 

[Shadowplayer]

because there is this great new thing out there called crack

 

[GibsonMarshallGuy]

Because they smoke crack. I saw a 2000 desert burst Classic Std with a price tag of $2500.00....you can buy some super sweet Lesters in that range...I scored a 57 RI last week

I don't know why people don't check market prices before listing a price. Forget whatever you paid for the thing, it is only worth what someone else is willing to pay. Scour eBay for guitars like yours that SOLD, not what other crack heads have theirs listed at

eBay is not the best place for a deal, unfortunately. Too many fees on the sellers, basically you'll end up buying used at new prices. I find the classifieds here in the forum to be a great place for finding good deals, and local ads as well...

 

[entresz]

I have a 1979 Mercedes S class. I consider it to be priceless in terms of value, but realistically I'd be likely to get around $5000 for it. I think guitars are in some respects similar; the value we place on the instrument is different to the actual monetary value. I don't think that's a bad thing, it's just the way buying and selling works.

 

[geezberry]

eBay is not the best place for a deal, unfortunately. Too many fees on the sellers, basically you'll end up buying used at new prices. I find the classifieds here in the forum to be a great place for finding good deals, and local ads as well...

I can attest to this. I used to do serious business with ebay. Sold over $40,000 last year selling various gear but with the seller's fees and paypal commissions, it's really tough to make anything. You pretty much have to sell stuff at 15% more than you wanna pocket which puts the price at an unattractive level for buyers. Now they have a new policy for buyers which gives them 45 days after they receive the item to return it with no seller recourse. I had 2 Historics returned to me after 40+ days of the buyers using them with unsubstantiated claims, even after receiving positive feedback for the sale!

They even started charging commission on shipping charges! You can only guess how much i've sold on ebay this year. (less than $1500)

 

[GibsonMarshallGuy]

I can attest to this. I used to do serious business with ebay. Sold over $40,000 last year selling various gear but with the seller's fees and paypal commissions, it's really tough to make anything. You pretty much have to sell stuff at 15% more than you wanna pocket which puts the price at an unattractive level for buyers. Now they have a new policy for buyers which gives them 45 days after they receive the item to return it with no seller recourse.

I used to sell on ebay too, too much opportunity to lose money there. Screw that! That's why I get very slightly annoyed when people quote values based on eBay prices, as if its religion. Some people don't understand that you got to really LOOK for a good deal not just on eBay..

 

[old mark]

if you look at his other auctions you will see he's some kind of antique dealer or thrift store. He has NO CLUE!!!

Yes, he has a lot of transactions...but he probably has no knowledge of guitars or their at times occult pricing. When I was buying junk and selling antiques, I had to learn a lot about a lot of things in order to be able to buy things that I KNEW i could sell for a good profit...but no one can know everything about everything.
And, I certainly agree about selling on eBay - they do not care about small sellers, and there are items that just do not sell for enough to make it worth selling them...like books.

mark

 

[paulgibson]

I think the more important question is, why does GIBSON think their guitars are worth so much?

Actually, Gibson guitars are not worth their price. People pay the money though just to own a Gibson guitar. Its more of a status thing but that's how it goes with a lot of things other than guitars.



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