Vintage Les Paul Gibson goes for US$140,000

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BarkellWH

Posts: 3458
Joined: Jul. 12 2009
From: Washington, DC

Vintage Les Paul Gibson goes for US$...

For those on the Foro who are interested in vintage electric guitars. The September 22, 2014 Washington Post has an article about a 1960 Gibson, Les Paul model, "Sunburst" electric that was bought new for US$320 in 1960 and just recently was put up at auction and went for US$140,000. The article states that prior to the financial meltdown of 2008, mint condition Les Paul Sunbursts were going for close to US$400,000! (It appears that there was a vintage guitar "bubble" every bit as out of control as the housing bubble.) I never played electrics, but wish I had bought one back then and kept it in its case as an investment.

Bill

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And the end of the fight is a tombstone white,
With the name of the late deceased,
And the epitaph drear, "A fool lies here,
Who tried to hustle the East."

--Rudyard Kipling

REPORT THIS POST AS INAPPROPRIATE | Date Sep. 22 2014 13:18:04

Ruphus

Posts: 3782
Joined: Nov. 18 2010

RE: Vintage Les Paul Gibson goes for... (in reply to BarkellWH)

In the AG forum we had lots of threads about insane vintage pricing.
In my opionion it has only to do with the sick social gap that is all inflating further.

Only a few years ago I mentioned on the foro a number of billionaires at around 400 at that time who are now amounting at far over 2000 heads.

Think of their entourage alone, now hundreds of thousands of people for who, money drops in totally irrational proportions and who literally don´t know how to deposit affluent funds.

That is how comes that completely arbitrary criterions are being made up to allocate value to objects like factory-made guitars from decades ago.
Before that we had / are having still "modern art", swatch watches, sneakers and many other of mediocre products suddenly elevated to collectors´ value merely for the new rich to get targets to invest utterly affluent budgets on.

Anyone here who don´t know how to pay their rent despite of fulltime jobs?
Just keep on accepting the cool aid of alleged fairness and democracy out there.

Cheers,

Ruphus

REPORT THIS POST AS INAPPROPRIATE | Date Sep. 22 2014 19:32:56

estebanana

Posts: 9351
Joined: Oct. 16 2009

RE: Vintage Les Paul Gibson goes for... (in reply to BarkellWH)

It's good the price came down to 140K, it means the economy is getting more stable.

Alan Greenspan former US Fed bank chairman had an indicator to track consumer confidence called the Underwear Index. It tracked when people bought underwear more than outer wear. The theory was that when people bought underwear they were spending more money than when only buying outer wear, because you don't ( normally) see underwear worn to show affluence or that you are making good money. So in tough times people tended to get along with the same old underwear waiting until they sensed a good economy to purchase undergarments.

So I take the sales of a Les Paul at less than bubble value to be an indicator of improving economy.

I would call it the 'Less is More Paul Index'.

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REPORT THIS POST AS INAPPROPRIATE | Date Sep. 23 2014 6:54:29

tri7/5

Posts: 570
Joined: May 5 2012

RE: Vintage Les Paul Gibson goes for... (in reply to BarkellWH)

'59 Sunbursts are considered holy grail in the vintage market and are usually valued at around 250k. Considering this was a '60 the price was likely a little bit less because of it. I have seen one '59 burst in person, at a museum exhibit. It was dead mint and all original. I'm sure it's rare to find such a specimen that hasn't been modded and beat up.

REPORT THIS POST AS INAPPROPRIATE | Date Sep. 23 2014 12:32:39

estebanana

Posts: 9351
Joined: Oct. 16 2009

RE: Vintage Les Paul Gibson goes for... (in reply to BarkellWH)

They are beautiful instruments and iconic. In a sense they are a bit of cultural patrimony to the US and musicians alike.

The vintage market, what a crazy thing. You know one of the reasons these things are so expensive is that once an object develops enough cultural value the price can go up far in excess of what we assign as in line with the objects cultural value. It's kind of a double edged sword; the value increases because those who can afford to pay such high prices will have the option of donating the object to a museum. The high price means a higher tax write off. Which is fine with me as long as I get to study the original Sunburst Les Paul.

The other wonderful result of these instruments going for prices out of reach of most musicians is that it means the contemporary builders market becomes more solid. If you can't afford 250K for a Sunburst, you can have someone make one for you that will look a play just like one for a lot less, Paul.

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REPORT THIS POST AS INAPPROPRIATE | Date Sep. 23 2014 13:00:41

orsonw

Posts: 1934
Joined: Jul. 4 2009
From: London

Vintage Les Paul Gibson goes for mor... (in reply to BarkellWH)

According to this, Peter Green's 1959 Les Paul recently sold for more than $1 million.

http://www.richtonemusic.co.uk/news/rich_tone_music_and_the_holy_grail.asp

REPORT THIS POST AS INAPPROPRIATE | Date Sep. 26 2014 18:19:01

Leñador

Posts: 5237
Joined: Jun. 8 2012
From: Los Angeles

RE: Vintage Les Paul Gibson goes for... (in reply to BarkellWH)

quote:

The vintage market, what a crazy thing. You know one of the reasons these things are so expensive is that once an object develops enough cultural value the price can go up far in excess of what we assign as in line with the objects cultural value.

Like the Dutch tulip bubble lol

There's a lot of junk Les Pauls out there too because Gibson knows they can just play off the name now. I've actually never even played a nice one. I know there's tons of nice ones out there but there's waaaay more junky "jr's" and Eps.
I hated fenders too until I finally got to play a nice one, changed my opinion around entirely, but again there's tons of junky strats out there.

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REPORT THIS POST AS INAPPROPRIATE | Date Sep. 26 2014 19:42:57

Paul Magnussen

Posts: 1805
Joined: Nov. 8 2010
From: London (living in the Bay Area)

RE: Vintage Les Paul Gibson goes for... (in reply to Leñador)

quote:

there's tons of junky strats out there.

How does one differentiate a junky Strat from a good one?

I ask as an utter ignoramus.

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REPORT THIS POST AS INAPPROPRIATE | Date Sep. 27 2014 18:15:57

Escribano

Posts: 6415
Joined: Jul. 6 2003
From: England, living in Italy

RE: Vintage Les Paul Gibson goes for... (in reply to Paul Magnussen)

quote:

How does one differentiate a junky Strat from a good one?

A good Strat just feels right and you should get some very different sounds from the pickup selection. It is the silkiest, "go to" electric guitar. I love my Mexican Strat since I changed the pickups to Bar Knuckles (the ceramic Mex. pups were insipid), put in a steel tremelo block and Fender vintage springs. Difficult to explain, but you will know after trying a few. However, the Bare Knuckles cost more than the guitar

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REPORT THIS POST AS INAPPROPRIATE | Date Sep. 27 2014 19:45:28

Leñador

Posts: 5237
Joined: Jun. 8 2012
From: Los Angeles

RE: Vintage Les Paul Gibson goes for... (in reply to Paul Magnussen)

Escribanos right. A good strat feels good, meaty, and even almost sounds nice without an amp. A junky strat feels like balsa wood and sounds like a bag of nickels.

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REPORT THIS POST AS INAPPROPRIATE | Date Sep. 27 2014 20:01:25

BarkellWH

Posts: 3458
Joined: Jul. 12 2009
From: Washington, DC

RE: Vintage Les Paul Gibson goes for... (in reply to Leñador)

quote:

sounds like a bag of nickels.

Great descriptive phrase, Lenador. If I get a chance to use it I will do so, and promise to attribute it to you.

Bill

_____________________________

And the end of the fight is a tombstone white,
With the name of the late deceased,
And the epitaph drear, "A fool lies here,
Who tried to hustle the East."

--Rudyard Kipling

REPORT THIS POST AS INAPPROPRIATE | Date Sep. 27 2014 20:11:38