Question for the experts

[Guitarzandstuff]

I may have a shot at an early 69 Custom with all 68 specs. It’s the most I have ever spent on a guitar and would have to let go of some very nice, non vintage guitars. The price is good, maybe a little better than market value. Mostly original but with period correct pickups, knobs and tuners that are not factory original. (No extra holes tho). Original paint, no breaks etc.

My question: Will this guitar hold its value? It’s not cheap by any means but fairly priced for me. I welcome all answers, either way!

 

[Leee]

You will never need to worry about a price collapse on 50 year-old Les Pauls.
They will always have some value.

My only concern would be a small and shrinking pool of potential buyers in a niche market.

We would all love to see pics of it.

 

[DelawareGold]

LINK:

http://www.latesixtieslespauls.com/

Depends on the serial number, and which neck tenon it has.
As long as your not moving your "A List" guitars it could be
a great move, but you don't own many "B List" guitars.
I would want to know How Early in 69 it was made.
1969 was absolutely a transition year.
Good luck, Frank.

 

[DelawareGold]

Giving this a little more thought...
Send a DM to Eric Ernest, and ask for his opinion.
If nothing else, he will tell you the pit falls to avoid.

 

[Guitarzandstuff]

LINK:

http://www.latesixtieslespauls.com/

Depends on the serial number, and which neck tenon it has.
As long as your not moving your "A List" guitars it could be
a great move, but you don't own many "B List" guitars.
I would want to know How Early in 69 it was made.
1969 was absolutely a transition year.
Good luck, Frank.

Thanks Artie. This has pots dated to 52 week of 68. Long tenon, one piece neck, no made in USA or volute. Body is one piece, non pancake. Gonna take to the guy tomorrow and if we make a deal, I will post some pics.

 

[Guitarzandstuff]

You will never need to worry about a price collapse on 50 year-old Les Pauls.
They will always have some value.

My only concern would be a small and shrinking pool of potential buyers in a niche market.

We would all love to see pics of it.

I will certainly post pics if we strike a deal….

 

[DelawareGold]

Let me know when and where you are playing out.

And how is the Joker?

 

[Guitarzandstuff]

Let me know when and where you are playing out.

And how is the Joker?

I will..: and he’s good. Same old smartass!

So this 69 may cost me some heavy pieces. He’s not budging on price which again is decent but we’ll see. Wants me to take a ride up and play it longer that I did (basically just held it and strummed a few chords)

 

[DelawareGold]

Any chance you could get a photo of the control cavity?

 

[MT0rr03]

I may have a shot at an early 69 Custom with all 68 specs. It’s the most I have ever spent on a guitar and would have to let go of some very nice, non vintage guitars. The price is good, maybe a little better than market value. Mostly original but with period correct pickups, knobs and tuners that are not factory original. (No extra holes tho). Original paint, no breaks etc.

My question: Will this guitar hold its value? It’s not cheap by any means but fairly priced for me. I welcome all answers, either way!

It depends on how long a market for such guitars lasts. The Baby Boomers, who were the population of players that coveted the guitars played by their heroes are moving on and are limiting those kinds of purchases and even selling what they have. Unless a guitar is truly a classic, like a 50's Gibson or Pre-CBS Fender, they aren't really much of an investment.

That said, your guitar is only worth what the market is willing to pay. It may hold the price or lose money as "value" is in the eye of the prospective buyer. Buy it because you like the way it plays and sounds, not because you think it's going to increase in value.

Buy your ticket and take your ride!

 

[Guitarzandstuff]

Any chance you could get a photo of the control cavity?

50s Bumblebees in there now but black beauty’s are included.

 

[Jimmi]

I will..: and he’s good. Same old smartass!

So this 69 may cost me some heavy pieces. He’s not budging on price which again is decent but we’ll see. Wants me to take a ride up and play it longer that I did (basically just held it and strummed a few chords)

This is my opinion. I have looked at getting an early ‘69 custom last year. I wouldn’t pay what looks like top dollar asking price. The prices haven’t changed that much over the course of the last couple years unlike virtually all 50s guitars. They have a niche for sure and really the last of the guitars that have vintage cred but they just don’t seem to go up in value like a 50s guitars…that is from an investment point of view. For example when I priced them in the 2010s they could be bought for around $8-10k for a 3pc neck, 1 pc body (which seems sort of the ave 69 custom configuration)in ave condition you can find those now in the mid teens maybe upper if really clean if you look around. I bought a p90 gold top for $13.5k those are now mid $40sk.

From a player point of view, they can be an alternative to the more expensive 59s guitars that haven hitting out of reach for many. There are some differences but some of those are good. I have never really loved the 3 pickup configuration and 50s 2 pickup HB customs are fairly rare. They can be had without breaks for reasonable prices. Some famous players had them. If the guitar really speaks to you then you aren’t selling it anyway. Just make sure you don’t over pay and you will be fine. Would buy a ‘68-69 custom over a $20k or even a 10k reissue.

 

[Guitarzandstuff]

The price is in the low 20s and can make a lot of that up in trades/consignments. Full 1968 specs, I pc neck and body. no volute, long tenon. no dot in the logo etc, Truthfully, now having a few vintage guitars (nothing crazy), I’m thinking downsizing and having a few vintage keepers along with my 4 high end replicas would be a good thing. I do need to sit down with this guitar and give it a sold workout though.

 

[DelawareGold]

It has the correct cavity route for the 1968 specification.

 

[ljr]

I envy you. I would love to sit down with that guitar, plug it in and really play it for awhile. I had a’71 and a ‘77 Custom. Although Norlin era, I really liked those two guitars. A ‘68 or early ‘69 would be very cool in my book, as long as it’s not a dog.

 

[Liam]

If you are planning to keep for a decent length of time, nothing to worry about. My first "vintage" purchase was a '55 LP Junior in 2008, in "beat but sweet" original condition. I paid WAY too much for it at the time ($6000 US), and could have felt pretty sore about that after the markets crashed. It was probably worth $3500 on a good day in 2011 when people had the confidence to start buying and selling vintage guitars again. You can definitely lose in the short, even medium term.

But here's the thing. That guitar is a "magic wand", light, resonant peach of a Junior that will be among the last few I'd ever sell. When the market started moving again in 2011, rather than bemoaning my loss of value, I bought a couple more old Juniors in better condition. A '57 for $3500, and a '59 for $4500.

A lot has happened in between times, and I've found myself needing to thin the herd a bit just for the sake of space. (I think 38 of them, but I kept getting distracted by the guitars while trying to count them. I think 13 Les Pauls, but I get especially distracted by those.)

The $3500 '57 Junior ended up on the list of guitars I had to part with. It is currently on commission sale with a very good UK vintage dealer for £9,950 (that's about $13,000 US).

If you buy a guitar you love, and you keep it, I don't think you'll ever lose. Yes, the Boomers are dying off, but plenty of Gen X guitar heroes and fans left. Gen Y definitely don't have universally poor taste in music and instruments. Most importantly, there are more people being produced every day, but there is a limited pool of 50's Gibsons, and 60's Gibsons of specific interest.

My main worry now is how slowly I'll need to sell off guitars that I don't really have space for. In some cases I'll be making enough that I'll need to declare them for UK capital gains tax if selling more than 2 or 3 a year.

 

[Guitarzandstuff]

So I did the deal today. Got to sit and play it for an hour or so and really bonded with it. The neck is chunky with a very mild V shape. Surprised me. Guitar is on layaway and he knocked another 2k off the price just because…. Serial number falls if the “early series” based on the site above.

 

[DelawareGold]

Congrats, Frank!
You're on a roll, Brother.
Play it in good health.

 

[TrueVintageGuitar]

Congrats OP on the purchase! It looks like a really nice vintage Les Paul Custom from a fantastic time period for Gibson.

My question: Will this guitar hold its value?

This is a great question that I hear a lot. I will echo what another commenter has said that I agree with: vintage Gibson Les Pauls will absolutely hold their value as long as your timeline for owning it is at least ~5 years. There are no guarantees about its value in the short run, but over the long term, vintage Gibson values always go up and to the right!