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WHAT makes a vintage guitar Collectible?
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As with baseball cards, Barbie dolls and other collectibles, condition
is very important. Instruments in "excellent" condition are always worth more
than instruments in "average" condition.
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Guitars must meet several other criterias to be worth money.
One of the most important aspects is originality. Any modifications,
replaced parts or repairs, no matter how practical, will decrease the value
of a vintage guitar. Even replacing the original case or re-fretting the guitar
(the equivalent to replacing a car's tires) will decrease value.
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For example, a "beat-up" original finish guitar will always be worth much
more than a perfectly refinished one. Even if the new finish is done
professionally and looks perfect, it will be worth approximately half the
price of an original finish guitar. This is because once the original finish
is gone, there is simply no way to replace it. The materials, the procedures,
the patina will all be different on a refinished instruement. Also it
can be refinished many times
or done perfectly, but it is still "refinished" and will never be "original" again.
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Also I need to explain the term "mint", as it is constantly misrepresented.
"Mint" means as new, or in the same condition as if you purchased the item new today.
There is no such thing as "mint for its age". Either an item is mint (brand new
condition), or it's not.
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Another big thing that effects value is demand. The Fender electric mandolin,
although very rare, is not worth very much. The reason is demand, or "who
wants it?". If the instrument has limited popularity, for whatever reason,
it will appeal to a limited crowd. Hence it will not be worth as much as
a popular instrument.
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To a some extent, rarity has only limited connection to value.
For example, the Fender Telecaster is very valuable, even though
Fender made tens of thousands of them from 1950 to 1965 (Fender's most
collectable era). The reason is demand. Although the Tele is not rare
compared to their electric mandolin, it is a very popular
guitar. Hence it is worth considerably more than the
(much rarer) electric mandolin.
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To summarize, for a vintage guitar to be valuable there must be:
Demand for the model.
Originality (unmodified, no repairs).
Condition.
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WHAT is it Worth?
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The question I get asked constantly is, "what is it worth?". Usually I value
things based on what they are worth to me, not someone else.
Most times that equates to market value, but sometimes it's higher and
sometimes it's lower (depending on the vintage guitar).
Really the best way to determine what a guitar is worth is to
get some "cash offers" for the guitar. Ask around and see what
people would pay.
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are APPRAISALS worth anything?
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In my opinion, the answer to this is "no".
The recent trend in vintage guitar appraisals has been to
over appraise vintage guitars. "Why", you ask? This is
purely a business decision from the appraisal people.
Since most appraisals are done by vintage guitar dealers
who want to sell your vintage instrument, it is to their benefit
to appraise high (over-appraise). This especially applies to the larger vintage
guitar dealers in Nashville and New York
who do mostly consignment
sales (another scam in my opinion).
Since consignments involve little to no cost on the vintage
guitar dealer's part, appraising your guitar high and taking it
on consignment is advantageous to them. After all, if you are selling
a guitar, are you going to consign it to a dealer that gave you
the lowest appraisal? Heck no! That's why most dealers over-appraise
guitar values, to "set the hook" and get the guitar into their shop.
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Because of this, I feel appraisals are little more than a scam
(most dealers charge $30 or more for a formal appraisal).
If you want to know the true value of your vintage guitar, ask
a couple dealers, "what would you pay, cash, right now, for my guitar?"
This amount will be significantly less than the appraisal, but
is the true value of what price your vintage guitar will sell.
Yes of course the dealer will try and sell your vintage guitar for more than
they are offering (after all they are in business to make money).
But they have access to an international market and client
list that you and I don't have. And they may be willing to spend
the time (as much as years) selling your guitar "retail". My
opinion is, "so let them try"...
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when APPRAISALS were fair
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I remember back a fews years appraisals were legitimate.
When I was buying a vintage guitar from someone that was nervous
about its value, I would tell them to send $30 and a front and
back picture to a vintage guitar shop in Nashville for an appraisal
(we would usually split the cost of the appraisal). And the
appraisals were fair; I would pay near or at the appraised
value. But it didn't take a rocket scientist for the vintage guitar dealers
to realize what was happening; they would appraise the vintage guitar fairly
and it would get sold to someone else local to the guitar! Because of this, all
the vintage guitar dealers that do formal appraisals are
over-appraising guitar values. This makes the "local" deal look bad, and their
consignment scam look good.
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