COVID (Used) Price Madness

kewl kat

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My suggestion is unless it is a mis-marked deal, or the guy needs it for his mortgage, put the brakes on and hold off buying. I truly believe you will be very happy and glad that you did. If you have one or two (or more), like most of us do anyway.

Next up, now that the free money spigot is running dry (imagine 900 Billion - almost a Trillion dollars, just given to businesses as forgivable loans), not to mention rent relief, handout after stimulus handout, well, we all get the picture. They pumped up an economy that would have been near-depression, and all the issues are still there: Ex: 40% of small businesses went belly up.

What follows next is not going to be pretty. Unemployment is going to get out of hand, and, you guessed it, people are going to have to sell their disposable luxury items, like guitars, to pay their bills just to live. Save your pennies and shillings because there will be deals aplenty. I cannot imagine it being more than a couple years, and you won't need to be in any big rush.

We will see then just how the high end Gibson market is holding up. My guess is, if Gibson keeps their prices raised, like the new one coming up, there will be some sad faces with pink slips in Nashville. I'm not wishing that for anyone. But...We C.
 

mjross

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My suggestion is unless it is a mis-marked deal, or the guy needs it for his mortgage, put the brakes on and hold off buying. I truly believe you will be very happy and glad that you did. If you have one or two (or more), like most of us do anyway.

Next up, now that the free money spigot is running dry (imagine 900 Billion - almost a Trillion dollars, just given to businesses as forgivable loans), not to mention rent relief, handout after stimulus handout, well, we all get the picture. They pumped up an economy that would have been near-depression, and all the issues are still there: Ex: 40% of small businesses went belly up.

What follows next is not going to be pretty. Unemployment is going to get out of hand, and, you guessed it, people are going to have to sell their disposable luxury items, like guitars, to pay their bills just to live. Save your pennies and shillings because there will be deals aplenty. I cannot imagine it being more than a couple years, and you won't need to be in any big rush.

We will see then just how the high end Gibson market is holding up. My guess is, if Gibson keeps their prices raised, like the new one coming up, there will be some sad faces with pink slips in Nashville. I'm not wishing that for anyone. But...We C.
This will not phase people with money! They will keep jumping on the high end good stuff just because they can. It’s just another thing to them, I see it every day. I know people that have amazing collections and don’t really even play, it’s just fun!
 
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mudface

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As far as new Gibsons go, I think I'm out. The blues lawyers can have them. I'm not buying a guitar that costs more than a decent used car. $7000 for wood, lacquer, glue, crude electronics, and some hardware just isn't worth it.

In 1983 i bought a 1970 Camaro Z/28 for $1100.....it was a very clean one owner car. Same year i bought a Gibson Leo's Limited Edition reissue Standard....$1200. I wish i kept both.
 

Kossfinger

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Gibson raises prices every year. They outpace anyone’s wages. It’s definitely at a point where I’m not considering buying anything period. The used market is insane, and goes up every time you look.
Vote with your wallet, and stop paying for increases.
R9 sales have been flat for decades. All of a sudden it’s different? You can keep the lab coat. I’m not ponying up for 10k Korina v’s, and the rest of the madness. I’m wondering how many of us are doing gigs, that justify paying these prices ??
 

mjross

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Gibson raises prices every year. They outpace anyone’s wages. It’s definitely at a point where I’m not considering buying anything period. The used market is insane, and goes up every time you look.
Vote with your wallet, and stop paying for increases.
R9 sales have been flat for decades. All of a sudden it’s different? You can keep the lab coat. I’m not ponying up for 10k Korina v’s, and the rest of the madness. I’m wondering how many of us are doing gigs, that justify paying these prices ??
Hey, those 10K guitars went pretty fast, pre orders now! There are people out there that have the cash and will pay the amazingly high prices. I checked them out at a couple dealers and was told they did not have to deal on them. Thus, Gibson will continue to make and sell them. They would not make these guitars if people were not going to buy them. I’m sure their marketing people research this pretty well. I‘m hoping to find one they are blowing out but that will never happen. Remember the days of Gibson blow out sales! Those were the days.

I’ve been playing guitar for 55+ years and believe me, I NEVER thought I’d see prices where they are at the moment, new or used. What I’m finding, if you see something you like and want, buy it now. Some of the prices I saw last week have increased this week, some changed the same day! Everybody is trying to take advantage of this mess.
 
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Rogueaverage616

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I dont know man, last December, i bought a 2016 Gibson Custom Shop SG Standard Historic with the Maestro vibrola, for $2300, in mint condition, just a couple light scratches around the ABR-1 adjustment wheels, from a persons fingernail hitting and turning against the guitars top during adjustment.No fret wear at all.That guitar was originally $4800, so i felt i got it for a steal.
 

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mjross

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I dont know man, last December, i bought a 2016 Gibson Custom Shop SG Standard Historic with the Maestro vibrola, for $2300, in mint condition, just a couple light scratches around the ABR-1 adjustment wheels, from a persons fingernail hitting and turning against the guitars top during adjustment.No fret wear at all.That guitar was originally $4800, so i felt i got it for a steal.
OR, the seller didn’t know what they had! Nonetheless, great score. Your score is the exception NOT the rule these days!
 

ManicPete

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Took me a year to get a price I was happy to pay on a CS LP Junior that I really wanted here in Europe. Prices on Reverb are absolutely crazy. Much better to just buy new but even those prices are ridiculous now as well. Certain big stores in the UK and the mainland are still getting some stock but it'll be another couple of years before things go back to normal. If they ever go back to normal.
 

kewl kat

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OR, the seller didn’t know what they had! Nonetheless, great score.
I have been still keenly keeping an eye on the market, and all I see is upward mobility. For now...(gak)!

After looking at images of your '63's, I had kept my hankering for a '61 in check, but then one popped up that was too good to pass up, and the one I really was most desirous of too. And yes, for today's prices it was very under-marked and then some. In mint condition, with the plastic still on the guard.

I did some checking looking at CME's and even GC and their prices, even for a '61, which I have seen marked down compared to other years, were all roofed. Fortunately, I got this one, a 2018, with the MHS pickups I decided I also really do favor (I now have MHS and MHS II in models), for about half new with no tax.

That certainly took care of the gas for a while, and now I am going to patiently wait for what turns up. Patience is a virtue, and, it will be a while...
 

mjross

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I have been still keenly keeping an eye on the market, and all I see is upward mobility. For now...(gak)!

After looking at images of your '63's, I had kept my hankering for a '61 in check, but then one popped up that was too good to pass up, and the one I really was most desirous of too. And yes, for today's prices it was very under-marked and then some. In mint condition, with the plastic still on the guard.

I did some checking looking at CME's and even GC and their prices, even for a '61, which I have seen marked down compared to other years, were all roofed. Fortunately, I got this one, a 2018, with the MHS pickups I decided I also really do favor (I now have MHS and MHS II in models), for about half new with no tax.

That certainly took care of the gas for a while, and now I am going to patiently wait for what turns up. Patience is a virtue, and, it will be a while...
Good for you sir! Glad to hear that you found a decent deal! Deals are out there but you have to do your research!
 

hellzington

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My suggestion is unless it is a mis-marked deal, or the guy needs it for his mortgage, put the brakes on and hold off buying. I truly believe you will be very happy and glad that you did. If you have one or two (or more), like most of us do anyway.

Next up, now that the free money spigot is running dry (imagine 900 Billion - almost a Trillion dollars, just given to businesses as forgivable loans), not to mention rent relief, handout after stimulus handout, well, we all get the picture. They pumped up an economy that would have been near-depression, and all the issues are still there: Ex: 40% of small businesses went belly up.

What follows next is not going to be pretty. Unemployment is going to get out of hand, and, you guessed it, people are going to have to sell their disposable luxury items, like guitars, to pay their bills just to live. Save your pennies and shillings because there will be deals aplenty. I cannot imagine it being more than a couple years, and you won't need to be in any big rush.

We will see then just how the high end Gibson market is holding up. My guess is, if Gibson keeps their prices raised, like the new one coming up, there will be some sad faces with pink slips in Nashville. I'm not wishing that for anyone. But...We C.

This will not phase people with money! They will keep jumping on the high end good stuff just because they can. It’s just another thing to them, I see it every day. I know people that have amazing collections and don’t really even play, it’s just fun!

@mjross - Your response beat me to the punch. Rich people are not affected by the economy in the way @kewl kat is speculating they are, and it is rich people who are buying to $10k guitars. I know because I am one of them. I will never need to sell gear to pay my bills and neither will 95% of other people who are buying $5-10k guitars.

The market on these is not going to decrease due to supply and demand. It might decrease due to Boomers dying or just generally getting older. It might decrease due to Covid winding down and the market slowing. But it isn't going to be this "Eat The Rich" economic meltdown situation where rich people suddenly have to liquidate their luxury goods in order to pay their mortgage and you'll be able to take advantage.

The cruel, hard reality is that the pre-covid days of $1200 JCM 800's, $750 American Standard Strats, and $2500 Les Paul Customs are long gone. No one is going to sell you a JCM 800 they bought during the pandemic for $2300 for $1200 just because "that's the reasonable price," and even if demand is reduced, no one except the impulsive, foolish, and financially irresponsible are going to soak that kind of a loss.
 

kewl kat

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Rich people are not affected by the economy
I know because I am one of them

Glad to hear that you are in the 1% Club, and obviously very proud of it.
Not sure what that is, but from your guitar list I believe I have you beat.
And, I never said anything about "Eat the Rich", whatever that is, LOL.
Bookmark this thread, and lets return to this topic in a couple years, OK.
 

hellzington

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Glad to hear that you are in the 1% Club and obvously very proud of it.
Not sure what that is, but from your guitar list I believe I have you beat.
And, I never said anything about "Eat the Rich", whatever that is, Lol.
Bookmark this thread, and lets return to this topic in a couple years.

Cheers :cheers:

Glad to hear that you are in the 1% Club, and obviously very proud of it.
Not sure what that is, but from your guitar list I believe I have you beat.
And, I never said anything about "Eat the Rich", whatever that is, LOL.
Bookmark this thread, and lets return to this topic in a couple years, OK.

I did not say rich people are not affected by the economy. I said they are not affected by the economy in the way that you think they are. You started this thread with a rant about how people will be selling their $5-10k R8's/R9's at a steep discount in a few years. I'm saying I don't think that is true because the people who are buying and selling those guitars aren't as negatively impacted by the economic swings you're describing. I validated that with a personal statement to give weight and credibility to my comment.

I'm certainly not in the 1%, but I am almost 40 with a very well paying job, no wife, and no kids. So yeah, I have plenty of disposable income and anyone else who has a similar level of disposable income (i.e., people who are buying $5-10k guitars) will never need to, as you put it, "going to have to sell their disposable luxury items, like guitars, to pay their bills just to live." All I am saying is that if you are waiting around for that day to come, as you suggest, you had better not hold your breath.

Also, for what it's worth, if you have more guitars and gear than I do, then you're right up there with me buddy.

Cheers to you as well.
 

mudface

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Since the early '80s i was told Les Pauls are grandpa guitars and nobody wants those anymore. It's Kramer and Charvel with Floyds and Kahlers with super hot pups.....that's the future. I was constantly told i paid too much for my Gibsons and they will be sold for a dime a dozen on the used market in a few years.

I said the same thing to all of them......it's my guitar.....what do i care what they are worth in the future. Still don't. I managed to buy a few more since then. Hard times or not....they are staying with me. I'll sell the kids first. Too late now though, the kids ain't worth nothing.

:)
 

kewl kat

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I said the same thing to all of them......it's my guitar.....what do i care what they are worth in the future. Still don't. I managed to buy a few more since then. Hard times or not....they are staying with me. I'll sell the kids first. Too late now though, the kids ain't worth nothing.

Yeah, not selling any of mine anytime soon either. It would be too expensive to replace them, LOL! I once said if my house doubled in price, I would sell it. Well, it has now tripled, and not selling now either. And now I own more than one, and not selling any of them!

The point I was making was that economics go in cycles. Right now we are in the most nutsy-cuckoo cycle the world has ever seen. C'mon, free money? I have worked my whole life and have never seen such a thing.

Wait a few years and there will be a glut of cars, the supply chains will have normalized, and all the cash from the money spigot will have already been spent. And yes, the tight market in used guitars will have loosened up too. There will be more of them. And prices will adjust.
 

TheWhigs

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Yeah, not selling any of mine anytime soon either. It would be too expensive to replace them, LOL! I once said if my house doubled in price, I would sell it. Well, it has now tripled, and not selling now either. And now I own more than one, and not selling any of them!

I'm basically in the same boat..LOL!

All of my wife's and my personal belongings are going to our kids. We're happy to pass it to them.
 

mudface

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Yeah, not selling any of mine anytime soon either. It would be too expensive to replace them, LOL! I once said if my house doubled in price, I would sell it. Well, it has now tripled, and not selling now either. And now I own more than one, and not selling any of them!

The point I was making was that economics go in cycles. Right now we are in the most nutsy-cuckoo cycle the world has ever seen. C'mon, free money? I have worked my whole life and have never seen such a thing.

Wait a few years and there will be a glut of cars, the supply chains will have normalized, and all the cash from the money spigot will have already been spent. And yes, the tight market in used guitars will have loosened up too. There will be more of them. And prices will adjust.

Yup...our house is free and clear....no car payments...except insurance and such like taxes and fees and utilities and medical and maintenance and damn i spend a lot of money.....and that's before i get to eat.

You gotta be money smart early in life...... and that is hard to learn for some folks.
 

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