COVID (Used) Price Madness

kewl kat

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I have been watching used prices carefully for the last year plus, especially for Hisorics/Reissues, and the inflationary spiral has been just nuts!

The same R8/R9 example I was considering in January, is now typically 1K more! Even new prices have crept up hundreds of dollars and on some models nearly that amount. Or more!

Bottom line I have put away my wallet. I can see already in the business realms I have knowledge in and about that all that glitters is not gold. There are a few examples I am still looking at, but have now put off any purchasing for a minimum of a year and a half or two.

I believe around that point there will be a gravy train of excellent used examples to be had. I am already holding off in buying anything new.

Just my opinion.
 
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efstop

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I bought several used guitars in the last year from my local Long & McQuade. Their pricing was always lower than anything on Reverb. Of course, they pay shit for trades.
 

mjross

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I have to agree in regard to prices lately! I watch prices pretty close and they have been getting out of hand. However, deals are still out there if you want to spend the time required to track them down. Just not as easy as it use to be!
 

kewl kat

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There will always be a gravy train of excellent used examples to be had, and prices keep going up.
Ya think, Tim? Hmmm....

Last I checked, just like real estate, a used guitar is only worth what the next fella is willing to pay.

When there's a lot of houses on the market prices drop. When there are fewer they go up. Same applies to guitars.

I am not selling any of the examples that I have. They were all well chosen used, other than a couple new ones only.

But if I were I would be considering doing so now, into the froth. YMMV
 
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DanD

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As new prices go up used prices follow.

It's been that way for every increase from Gibson.

There was a time when R6-R8s were between 2k-2.5k depending on condition.

Many of the used asking prices currently are out of touch. New R4s - R8s are still under 5k.

Makes it real hard to consider a used version at 4k...
 

kewl kat

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I have to agree in regard to prices lately! I watch prices pretty close and they have been getting out of hand. However, deals are still out there if you want to spend the time required to track them down. Just not as easy as it use to be!
Deals are always out there, depending on what is the norm is, at that place in time. And, if you are in a rush.

Like you, I have more than one to play, so I can afford to be patient. I see better deals down the road, so I'll just wait.
 

efstop

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I bought a used Junior Tribute DC for a lower price than anywhere else in Canada.
 

Shelkonnery

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I know what you mean.
The only reasonable deals are from people who actually need to sell.

Gibson is not doing it any favors either.
I don’t think it’s a coincidence this also happened while the Murphy Lab was stablished.

It opened up a whole new price range for new Gibsons - the luxury market.
 

JMP

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Keep an eagle eye on Craigslist and Facebook Marketplace. I’ve been surprised what’s come up for sale in the guitar and amp world locally. Be patient.
 

kewl kat

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Keep an eagle eye on Craigslist and Facebook Marketplace. I’ve been surprised what’s come up for sale in the guitar and amp world locally. Be patient.
Sounds like you found some deals. Care to share?

I have always preferred face to face transactions, but that seems to have fallen much out of favor in the internet age.

And, if you are buying on Facebook, if you don't like what you got, there is the ever present battle with Paypal. I'm out.

That is why Reverb has become so successful. Their business during Covid tripled! Similar can be said with GC and MF used sales. Their prices got jacked through the roof because of all the free money, and since they work by commission or used markup, they've all licked their chops.

I think the best use of patience will come with just holding off buying for a while, for me at least, waiting for the playing field to level off again.

Which it should, and I believe will, in the timeframe I discussed.
 
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JMP

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Sounds like you found some deals. Care to share?

I have always preferred face to face transactions, but that seems to have fallen much out of favor in the internet age.

And, if you are buying on Facebook, if you don't like what you got, there is the ever present battle with Paypal. I'm out.

That is why Reverb has become so successful. Their business during Covid tripled! Similar can be said with GC and MF used sales. Their prices got jacked through the roof because of all the free money, and since they work by commission or used markup, they've all licked their chops.

I think the best use of patience will come with just holding off buying for a while, for me at least, waiting for the playing field to level off again.

Which it should, and I believe will, in the timeframe I discussed.
I’d been casually looking for a Goldtop….a reissue, maybe a Standard, or an old Deluxe. A 2001 R7 appeared on the local Craigslist for a steal. I met the guy same day and bought the guitar- it’s a gem and I’m pumped to have it.
I posted a NGD about it if you wanna learn more.

The gear is out there and lots of folks don’t want to deal with eBay/Reverb/PayPal/shipping/grumpy people on the other side of the country who want a refund/etc….That said, the classifieds section of this here forum often has great stuff.
 

Ph03n1x

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I have seen the same thing happen in Australia with both houses and guitars. There are corporations buying up real estate now. Some of them are doing it for foreign buyers in places like China, Singapore etc. They just get an Aussie to be the head of the corporation and it doesn't appear as an overseas buyer. The locals just think that there is lots of domestic speculation and they all repeat the mantra that real estate always goes up.

Luckily there are no corporations buying up guitars for profit. The Japanese guitars have also gone up with COVID but recently have started to look a bit more realistic for pricing. The early days of lock downs certainly had an effect with multiple people taking up guitar or some other instrument. Those lockdowns are still happening in Sydney and Melbourne but at some point the effect is going to wear off and the lock downs will stop once they reach a certain % vaccinated.
 

_xxERICxx_

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Hi - Member for 5 years, first post here :)

I had to jump in on this one.... It seems that some you of you guys think that prices will begin to fall again? What are your predictions for Gibson's new guitars? It seems to me that Gibson are finding that they can be a bit ridiculous with prices and that people are willing to pay, repeatedly. Myself included if I'm being honest.

A little bird told me that Gibson USA is unable to fulfill their contracted orders and are shipping out something like 30 to 40 percent of their usual output for the remainder of 2021... but new high dollar CS/ML guitars are coming out seemingly monthly. In other words, Gibson is finding value in making less (in terms of numbers) for higher profits.

Maye it's been this way for years and I am just starting to pay attention after 30 years of buying Gibson guitars. ?
 

Ph03n1x

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Hi - Member for 5 years, first post here :)

I had to jump in on this one.... It seems that some you of you guys think that prices will begin to fall again? What are your predictions for Gibson's new guitars? It seems to me that Gibson are finding that they can be a bit ridiculous with prices and that people are willing to pay, repeatedly. Myself included if I'm being honest.

A little bird told me that Gibson USA is unable to fulfill their contracted orders and are shipping out something like 30 to 40 percent of their usual output for the remainder of 2021... but new high dollar CS/ML guitars are coming out seemingly monthly. In other words, Gibson is finding value in making less (in terms of numbers) for higher profits.

Maye it's been this way for years and I am just starting to pay attention after 30 years of buying Gibson guitars. ?
The OP was talking specifically about used prices. It is not only Gibsons that have gone up in the used market.
 

Zylo

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during lockdown, here in the uk, everybody all of a sudden wanted to get a pet, puppy prices went up the roof,
now that people are returning to work, dog shelters are overwhelmed by people who no longer want a pet! prices have collapsed, maybe it will be the same with guitars, many who bought one last year will probably be dumping then on the market now.....but then again who knows how things work these days, its a crazy world..
 

musicmaniac

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I don't see them coming down except the occasional steal you may get. It's the future and it sucks. :(
 

Shelkonnery

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I don't see them coming down either.

If we're making real estate comparisons, I think of it more like big international cities like New York, London, Paris, Tokyo, which have yet to see a decrease or considerable depreciation in their market (at least the past few decades).

Prices will only go back if this bubble bursts.
But it doesn't seem like it will happen soon.
 

Andrew1225

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Yeah I think I was pretty lucky with getting my
2019 R8 for 3000 dollars earlier this year.

Used prices are easily +1000~1500 what they were pre-covid.
 

derek1977

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Long and Mquade raised pricing on Gibson last week. Not impressed!
 


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