Has anyone else noticed the prices on Guitars?

[Winston Psmith]

I don't know if this is just in the D.C. area, but I've noticed that the prices on used Guitars have gone way up, since the pandemic.

 

I regularly scan Reverb , to see what's at my FLUMS - that's how I found the Mandobird, and the Infinite Jets. It's a great store, with good folks, and a lot of my gear came from there, which gives me some good points of comparison . . .

 

A few years back, I got a used Ovation Custom Legend, in good shape, in the original case, for under $400, at my FLUMS; the other day, in the same store, I saw a beat-to-hell used Legend, with some really worrisome cracks in the top, for nearly $600, no case? My used Cherry Red 2003 SG Special was $550, around the same time: now, it would cost me more like $1,100.

 

Looking at other used Guitars that I knew, and had been keeping track of, I saw much the same pattern; nearly everything had gone up in price.

 

I still see reasonable prices, even the occasional bargain, on effects and Electronic gear, which are the only other things I keep track of. I haven't really kept up on the Electric Bass market, so I'm not sure if the same thing is happening there.

 

Outside of thrift stores, pawnshops, and yard sales, where there are always bargains, is anyone seeing the price of Guitars and gear going up where you live? Has anyone talked themselves out of getting a new/used Guitar recently, because of the prices? On the flip side, has anyone sold any gear recently, because the market value had gone up? I'm really wondering what's going to happen next . . .

[desertbluesman]

It is a good thing that I am not after new guitars, I have 3 in the house and have sold 4 or 5 in the recent past, (too bad I sold them before the price hikes😅)

[Larryz]

I buy 90% of my guitars new, so I'm not much help on used guitar prices.  I would check back in a month or so and see how many of those recent used guitars have sold at those high prices.  Bargains usually sell very fast and the last time I tried to buy a used Gibson ES-175, it was sold by the time I made the call on the same day it came on the market.  I settled for a new Epiphone ES-175 for 1/4 the price of a new Gibson (i.e. $1,000 vs, $4,000).  It came set up with US made Gibson 57 humbuckers, upgraded 500k pots, caps, etc., as a "Premium" model so no mods were necessary, and it keeps up with the Gibson. The used Gibson 175 I missed out and kick myself in the ass on, went for $1,600.  😎

[KuruPrionz]

I've bought and sold guitars for decades. It's pretty rare that I buy a new guitar, not sure I even own one at the moment. 

Yes, prices are moving upwards. That's good if you are selling and bad if you are buying. So it goes.

[Sharkman]

The Epiphone 1959 Les Paul Standard that I bought last August for $799 from Musicians Friend is now $849.

[ElmerJFudd]

I’ve also noticed how long it takes for the guitar I thought was in stock to actually arrive and have a tracking number.  The new normal.  

[surfergirl]

My mother paid $500.(blemished) for my Deluxe Player Strat in 2011, they are between $625. and $815. on reverb today 

[Dannyalcatraz]

I’ve seen a few models I like go up in price…but others dropping, too.

[Winston Psmith]

Thanks, everyone, for responding. I can't say I'm happy to see that this is happening to all of us . . .

 

I look for used gear for a few reasons, the main one being that I generally can't, or won't, pay the prices for new gear. Depreciation has been my friend, in that regard. Used gear also tends to hold its value, or even go up in value, which is part of what we're seeing now.

 

While this might seem like an opportune time to sell off any unwanted gear, selling or trading gear to finance other gear is likely to be a losing proposition. I saw a used Epiphone G-400 going for more than I paid for my used Gibson, at the same store where I bought the Gibson. I'll stick with what I've got, and be glad that I got it when I did.

[Shamanzarek]

I find it hard to believe many of the items on Reverb and eBay are actually selling at those inflated listed prices. I often list equivalent items at half the price on CL and FB Marketplace and it still takes forever to sell. Only on a really choice item can I hold firm on my already low asking price.

[Mark Schmieder]

I have been too busy to post anything for sale, but do have a lot to post, and wish I had time to do so before any earth-shattering events scare people away from spending money. What I have noticed is that recent used gear is selling for more than it cost new. This is a GREAT time to be selling stuff! If you can find buyers, of course. Not sure it'll hold up to the improvements in supply chain recently, or if those changes are sustainable, given the world upheavals.

[Caevan O’Shite]

On 3/4/2022 at 9:02 AM, Winston Psmith said:

I don't know if this is just in the D.C. area, but I've noticed that the prices on used Guitars have gone way up, since the pandemic.

 

I regularly scan Reverb , to see what's at my FLUMS - that's how I found the Mandobird, and the Infinite Jets. It's a great store, with good folks, and a lot of my gear came from there, which gives me some good points of comparison . . .

Looking at other used Guitars that I knew, and had been keeping track of, I saw much the same pattern; nearly everything had gone up in price.

I saw a used Epiphone G-400 going for more than I paid for my used Gibson, at the same store where I bought the Gibson.

It was a buyer's market, then became a boom year or two for sales of new and also used guitars and related gear- and then became a seller's market...

 

13 hours ago, Shamanzarek said:

I find it hard to believe many of the items on Reverb and eBay are actually selling at those inflated listed prices. I often list equivalent items at half the price on CL and FB Marketplace and it still takes forever to sell. Only on a really choice item can I hold firm on my already low asking price.

[and then became a seller's market... ]  ...or did it?

I had noticed that in general, 'the going rate' seemed to have gone up. And that often, things started gathering dust at those prices, or a little haggling might take place. This has been most evident on Reverb and the like.

Nosing around at a local musical instrument store, I noticed that many used as well as new guitars seemed to have prices roughly fifty, a hundred, or two-hundred dollars higher than what I would have expected- though this particular store has generally high-balled most things pretty routinely.

[Winston Psmith]

13 hours ago, Shamanzarek said:

I find it hard to believe many of the items on Reverb and eBay are actually selling at those inflated listed prices. I often list equivalent items at half the price on CL and FB Marketplace and it still takes forever to sell. Only on a really choice item can I hold firm on my already low asking price.

I know that some Reverb and Ebay prices are just absurd, but I've only been looking at the Reverb listings for my FLUMS, because it's easier than driving out there to browse. The prices they're posting are really the prices they're asking, and because I check in nearly every day, I've seen a lot of Guitars moving out at those prices.

[Jon Levy]

The economics are unavoidable. Musical instruments have seen a significant spike in demand during the pandemic, while supply of new instruments has been constricted due to factory shutdowns, shipping delays and scarcity of components. Because the supply of new instruments is constricted, prices have gone up. Plus, buyers have turned to looking for used instruments and those prices have been driven upward as well. I have a feeling it's going to take a pretty long time for supply chains to recover to pre-pandemic levels, alas.

 

On a side note, I probably would've lost my mind during the pandemic if I hadn't been able to play guitar. I never appreciated the healing power of music as much as I have during the past two years. I'm guessing that plenty of other people on this forum feel the same way!

[Larryz]

With or without the Pandemic, I have to play a little guitar every day or I'm not a happy camper... 😎  

[desertbluesman]

10 hours ago, Larryz said:

With or without the Pandemic, I have to play a little guitar every day or I'm not a happy camper... 😎  

Yep. Even though I have no pro playing out plans, It is still a wonderful pastime. I play an hour or more every day.

 

Without that, I would be like a ship without a sail.

[Winston Psmith]

I have a "Lockdown" Guitar, a Taylor 110CE that I brought home on Friday, March 13th, 2020: that was the day the world really pretty well shut down for our household. Most of the Spring and Summer of 2020, whenever I wasn't out working, I sat in my backyard with that Guitar.

 

Funny thing, it was one of the very few affordable Taylor models - the 110E, without the Cutaway, is still available, for around $800 - and I don't really see many of them for sale on Reverb or Ebay? I guess I was just lucky to find it when I did . . .

[wraub]

I look at local listings a lot and I see a lot of fluctuation, but mostly see things sit for long at prices that never change, or deals that vanish right away. I've bought three Strats in the last year and paid under $500 for all three, including one acquired yesterday. Still some deals out there. 

[RABid]

Everything has gone up. The chip shortage has not affected guitars, but it has contributed to wild prices on some synths, rack gear and digital effects.

[Mark Schmieder]

Wood prices have skyrocketed; that's the main cause.

[Winston Psmith]

10 hours ago, Mark Schmieder said:

Wood prices have skyrocketed; that's the main cause.

 

I'm sure shipping costs have gone up, as well, with the price of gas, and a shortage of workers. Supply chain issues are cutting into the availability of raw materials of all kinds. That still wouldn't account for the major price bump in used Guitars, unless it's an aggressive example of "what the market will bear" pricing.

[surfergirl]

The price of everything is going up, and supplies are short. We were informed this week that they may cut production to 4 days per week. Foam, fiberglass and resin have all sky rocketed in price and are in short supply.

[Mark Schmieder]

Used instrument prices go up alongside new instruments, as it's the gap between new and old that often influences buying decisions.

[marcusoasis]

Yeah, I've felt it too. Hopefully it won't continue but I doubt it with the cost of living crisis kicking in as well.

[skipclone 1]

My situation is more about getting things I don't have-unfortunately. I got the guitars I have so I wouldn't think there was one I should have instead-so far that's worked perfectly. No interest in selling. 

[wraub]

Lately I've been thinking about selling off some gear, as I have stuff that's largely unused. An incentive is that pretty much everything I have I got used, and it's all gone up in price since.

However, the fact is that I already have it because do use it occasionally, and the prices now to replace it would be prohibitive. So I keep the stuff I have, and pretty much don't buy anything anymore, as I really have no gear that I need.

I do buy replacement parts and things for repairs/upgrades, and those seem to have gone up in price too.

[Larryz]

+1 I'm not in the market for buying and I know I should sell a lot of my stuff at the prices these days.  Just can't seem to part with anything and I'm just too lazy to get into the seller's market  LoL!  😎

[desertbluesman]

I have been trying to sell off some gear locally. Both on Craigslist and Nextdoor dot com. So far no bites. The body of the ad below. (not for sale by mail/shipping or for anything but cash in person in my gated community). Some of it was bought for my analog studio, mid 1980's.

 

Various musical items, Guitar, Samson Mixer, MIDI keyboard, Amp modeler, Recording Studio Desk all for $845.00, priced individually in ad below.

Evolution MK-149 MIDI keyboard - $75
Home recording studio desk - $85
Digitech RP155 - $50
Evolution MK-149 MIDI keyboard - $85
Ibanez RG 321 MH in Blue with hardshell case - $400
Rolls MIDI Buddy $75.
Samson MPL 1502 Audio Mixing Board-$75

[KuruPrionz]

I've bought 2 guitars recently for $100 each. They are both worth a bit more than that. 

The Epiphone AJ is a tool, I'm working on a solo acoustic/vocals set and plan to use it as my main acoustic gigger. 

Bringing a nicer, more expensive guitar just adds stress to the situation. 

 

It's hard to get too riled up about a $100 guitar, I can relax on breaks and/or let others sit in without worry. 

But yeah, the local craigslist has plenty of very expensive guitars to choose from, they don't seem to move very quickly but they do sell eventually. 

[p90jr]

One big thing, since Reverb was mentioned here... Etsy bought Reverb, and then had to figure out how to make it actually be profitable (like most apps/websites, it operated in the Red for years just to attract and build up users and make itself attractive to a bigger firm looking to buy it out, then that firm has to figure out HOW to make money with it) so they had to raise the fees for selling... and that gets built into prices. But also, the price of everything else drives everything up... actual brick and mortar retail shops are paying more for rent and electricity and the inevitable shift to online shopping habits means they aren't selling the little "counter candy (ricks, strings, tuners, pick holders, even soft drinks... whatever else that is a mindless grab for physical customers that represents steady profit for them based on what they pay for it)" and that increasing lack of income gets folded into the price of what they are managing to sell... also, a recent change in law makes any seller have to declare and pay taxes on items sold online for above $600, I think, so that factors into pricing structure from people just selling their own gear.

I've picked up a couple of guitars and other bits of gear over the past 2 years for cheaper than they should've been, because of the shutdown... because that's the only way I really bother to buy any gear. Otherwise, I don't really need that 23rd guitar or 11th amp or 187th effects pedal... I don't buy "brand new" music gear anything unless its on sale for a good discount, otherwise I let someone else take the depreciation that happens instantly.

So yeah, guitars have gotten more expensive. But do any of us really NEED more of them at the moment?

The guys I know who trade in that vintage guitar market paying tens of thousands of dollars for golden age instruments are actually finding "deals" now, they say, because they're finding very motivated sellers who need to move stuff to offset loses in other areas.