How much is that guitar in the window...worth? Part 1
January 26, 2008 at 01:32 PM
How much is that guitar in the window……..worth?
The ongoing debate on guitar values will never change. This is all do to supply and demand. If there is a want and/or a need for a certain guitar, and you are willing to pay the price, the vintage/used/collectable market will continue to thrive. I personally have watched the trends in the last 20 years, as well as participated as a collector, trader, buyer and seller. In the early 90s, many involved in this market were predicting the end. Again, in the mid to late ‘90s and as we journey towards the end of the first decade of the 2000. Things have shifted, however as far as an end, I don’t see one in sight. As I write this, the economy in the US is pretty much in the toilet. The housing market is dead. Each day the news is regarding an imminent recession. Are people still buying high ticket guitars? YES!
I keep a short leash on the industry trends. Before I used to live, eat, and breathe collectable guitars. I dabble from time to time and stay in touch with friends who are in the forefront of the biz. A friend of mine recently brokered a deal on a ’59 Gibson Les Paul Flame Top, which fetched somewhere in the neighborhood of $500,000. Yes, a half a million dollars! This wasn’t a celebrity owned guitar, just an all-stock version, in very good condition. Is that a lot of money? Yes! However, every time a guitar is offered at a certain price, and someone agrees to that price, the pole is raised and a new mark is set. Is that guitar really worth that much? NO! However since someone paid that much, it raises the value of all others. The same goes with Real Estate. Say you live in a neighborhood of 20 homes. The average home value is $200,000. Someone in your neighborhood puts their house up for $300,000; now everyone in your neighborhood is thinking they have a $300,000 home or they have a crazy neighbor. If that house sells for $300,000, that just raised the value of every home in that neighborhood and makes a genius out of the crazy neighbor. Same guidelines apply for guitars.
Again, it’s about supply and demand. Enough of that, let’s get back to guitars. Now for fun let’s take a look at the journey of a 1959 Gibson Les Paul Sunburst. All references to pricing are estimated. Many books have been published covering the history of the guitar. Essentially the three BIG years for the sunburst Les Paul, are 1958,1959,1960. All three years bring in the big, big dollar. All three have slight differences. Most collectors believe 1959 as being the ultimate edition. Check out “The Beauty of The ‘Burst” by Yasuhiko Iwande or “50 Years of the Gibson Les Paul” by Tony Bacon , 2 excellent resources. The shipping totals for 1958-1960 in Gibson Les Paul Standards , ballpark around1600 pieces. Of that 1600 , around 640 were shipped in 1959. Again , it’s about supply and demand. So here we go:
- 1959 Gibson Price List : Les Paul Standard $395
- 1961 Gibson Les Paul Standard is discontinued. The SG/Les Paul is introduced
- 1967 My friend purchased a 1959 Les Paul in 1967, he paid $750. He thought he got ripped off.
- 1970’s Prices varied from $1000-$2500
- 1980 $3500
- 1985 $5000
- 1987 $7500
- 1989 $10,000 – $12,000 (Thanks Slash!)
- 1991 $12,000 – $15,000
- 1995 $25,000 – $30,000 (cant’ possibly get any higher-right? WRONG!
- 1997 $50,000
- 1999 $75,000
- 2002 $100,000
- 2004 $225,000
- 2007 $500,000
- 2010 $??????
(*Disclaimer all of the prices are approx. As stated earlier I worked in and around vintage guitars from 1990-current. The numbers presented are my best recollections from the times and from conversations with my predecessors)
So with that brief history, where does that leave us? The obvious question is, “I want to buy a guitar and I don’t have half a million!” Next time we will examine your options.
~Johnny Rodriguez