Remember original purchase price of 1970-80's LP's?

[blackangus1]

Specifically I was trying to find what people actually paid for a new LP Custom from 1978-1983 at the store. There is MSRP of some, but of course not realistic as not sold at MSRP.

This comes from a discussion on inflation with a few people. The range on Ebay for used Les Paul Customs in this era is around $2000-3500 on average.

A newer LP Custom could be had for $3800 over the past few years at a guitar store. The MSRP $5700-ish.

If you used a "dollar-worth" comparison of buying a:

$3800 guitar today in 2013
That same guitar should have cost $977.00 in 1978 at a store brand new.

A $3800 guitar today should have been $1500 in 1983 dollars.


Is this close or were they more/less?

 

[C Squared]

I remember seeing standards for $800-$1200 new depending on store and color.

 

[blackangus1]

Around $1200 is what I was guessing. This guy was making a scene at Guitar Center over a $3000 Standard, saying he would never ever pay that kind of money for a guitar. Then in the same time stated he only paid around a thousand for Standard back in 79.

I was thinking he DID pay the equivalent but doesn't get it.

 

[bobswinea]

Around $1200 is what I was guessing. This guy was making a scene at Guitar Center over a $3000 Standard, saying he would never ever pay that kind of money for a guitar. Then in the same time stated he only paid around a thousand for Standard back in 79.

I was thinking he DID pay the equivalent but doesn't get it.

He/she obviously didn't pay attention in Econ 101 about inflation

 

[splatter]

I bought a brand new LPC in 1980 or 81 and I think it was about $850 out the door.

Side note the guitar that broke the $1000 barrier (at least the popular guitar that was in most stores ) was the jackson RR . Not sure when it came out but I think it was around 84. I remember talking to the salesman at a music store and both of us were saying "theres no way I'm paying that for a guitar "

 

[jaik]

this thread prompted me to pull this old ad out of my guitar case and scan it.
I saw this in the paper in 1992, that 1957 Les Paul Special is still my favorite guitar

I think you guys might get a kick out of the inventory and prices.

 

[MineGoes211]

That was a lot of money back now!

 

[blackangus1]

It's hard not to live in the moment and think it costs a lot now or if current inflation holds true, they will be selling for $12,000 in 2048.

Not to hijack my own thread...

But I've been looking on and off for a LPC Silverburst. There are some new ones left around for $3300-3800 and the originals seem to be going for the same price. New ones are new electronics and should be problem free, old ones are vintage.

 

[GuitarRUSH]

$699 for a LP Custom or $1069 for a '65 ES-335 would be nice...

 

[RichBrew]

I bought a new Standard in 1978, for £399.

RichBrew

 

[voggin]

I bought a new Standard in 1978, for £399.

RichBrew

What was the pound worth then in USD?

 

[Breakrite]

I traded a 1972 Les Paul Recording (Pawn Shop purchase for $250 in 1974) and $500 cash for a new 1978 Les Paul Pro in Temple, Texas. Purchase cash price was right at $700 dollars.

 

[voggin]

I can only talk in Canadian funds, but I have a vague memory that circa 1979-80 a Les Paul Deluxe was around 999 and a standard 1099. I was 11-12, and remember thinking, "Holy Shit! A thousand dollars!" I seem to remember as well that a Yamaha SBG 2 or 3000 was, like, a hundred bucks less, and the "in the know" crowd at the music store were all saying how much better they were than Gibsons, etc.,etc.

I also recall that fenders weren't that much cheaper than Gibsons in those days, so either Gibson's have gone up a lot or Fenders didn't keep up with inflation. But there were duties and things on imported guitars in those days before free trade and NAFTA, which were around 9%. I used to go to Montana with my parents and be amazed at the prices of new USA stuff, even with the currency difference.

I know, not a helpful post, but a cruise down memory lane before it's all gone...

 

[MikeZito]

It was somewhere around 1979 when I remember seeing a magazine ad for Peavey Guitars. They were touting that the MSRP for a Les Paul was over $1,000, and the price for a Strat was in the mid-$950 range . . . buy Peavey's were about half the cost.

 

[blackangus1]

What was the pound worth then in USD?

I Googled the pound inflation and 399 is equal to 1700 today. Conversion should be close to USD inflation at 4x's +.

 

[voggin]

It was somewhere around 1979 when I remember seeing a magazine ad for Peavey Guitars. They were touting that the MSRP for a Les Paul was over $1,000, and the price for a Strat was in the mid-$950 range . . . buy Peavey's were about half the cost.

I also don't think the MSRP/real prices were as different in those days as they are now. List prices were more like MAP now.

 

[EDS1275]

Bought a cherry burst LP Standard at Manny's around '76 give or take. $420.

There was always something like 50% off list

Ah, those were the days. One Strat model, two Tele, three LP's.

 

[paulgibson]

I remember being in a bar with my buddy about 1976-77 when in walked a guy with shoulder-length hair, a black cowboy hat, and six inch platform shoes. He was known in the bar as "Captain Qualude" for obvious reasons. Anyway, he was selling a '68 or 69 les Paul standard but stated that he would rather trade for lemon 714's or the other brand which I can't remember. He ended up going outside with someone for what seemed like a very long time but when he finally did come back into the bar, he ordered a beer and started slurring his words and was passed out like in 20minutes so I'm assuming he scored, and someone got an eight or nine year old standard. I always wondered how many ludes he got for that les Paul.


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[SteveC]

I paid $650, out the door, for my brand-new 1981 LPC, at Cintioli's Music in Philadelphia. It still remains one of the best LP's that I have ever played!

Bill of Sale:

 

[js1516]

My Les Paul Custom went for $667.75 in December of 1984