The $10,000 Franklin

Kenneth Kotsay · From: Davie/Ft Lauderdale, Florida

So there's a 1984 D-10 Franklin for sale on the Steel Forum. I hope the seller does sell this Franklin for his asking price. Now if he's does, then what could my D-10 Franklin sell for?

I order it back in October 1998 and paid $4095.00.
It was born in 1999 at Mr. Paul Franklin's Sr. house. It's black mica, 8&5.

I consider it SEMI-NEW as of this date.

It sits in my closet along side my D-10 1981 Emmons Push Pull. I do take Frankie out for a spin around the living room for a day or two then back in the closet it goes.

My D-10 Zum & EMCI are the steels I now play all the time.

My Franklin has about 70 hours of playing, yes your read right, 70 hours of usage inside my home since 1999, that's for a total of 16 years.

For sale, no way it's going to a very special friend of mine upon my passing, FREE!!!!!!!.

Oh, one more thing, Thank you Mr. Franklin for selling me one of the best pedal steel guitars in the world.

So why not use it, well look at it this way, if in 1967 you purchased a Pontiac GTO, stick, tri-power etc and let it sit inside your garage, and only using it a few hundred miles a year, what condition would it be in today if you kept it in 'New' condition for over 48 years and how much would it be worth in today's market place of Collectors Classic Cars.

Go figure, no 2015 Chevy Corvette would be able to touch it price wise.

Back in 2014 at the Ft Lauderdale Classic Car Auction a 1967 Camaro with 5,000 mile on it sold for $150K.

There's no more 1967 GTOs & 1967 Camaros being made, and no more Franklin Pedal Steels being produced.

Can I say any more.

KEN

Larry Baker · From: Columbia, Mo. U.S.A.

Don't forget Ken, We've been friends for years...
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Patrick Layher · From: Buffalo WY, USA

And no more Zum's, and no more Emmons wrap arounds, and no more...

Jim Cohen · From: Philadelphia, PA

Multikords...
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Jerry Roller · From: Van Buren, Arkansas USA

I suppose no more Carters, MCIs, EMCIs............
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Lyle Dent · From: Little Rock ,Arkansas

Not to be critical but; we called those Vetts and untouched classic cars trailer queens that we rolled from the trailer to the show. If we treated all of the Strads and other great instruments like that precious few would hear their magical voice. I'm not saying to play it in smokey bars or on tour but at a steel show in front of people that would appreciate their exceptional quality.
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Henry Matthews · From: Texarkana, Ark USA

If I had it and liked the way it played and sounded, I would play it, I don't care how shiny it is.
Hummm, how many Franklins are in closets?
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Henry Matthews

D-10 Magnum, 8 &5, dark rose color
D-10 1974 Emmons cut tail, fat back,rosewood, 8&5
Nashville 112 amp, Fishman Loudbox Performer amp, Hilton pedal, Goodrich pedal,BJS bar, Kyser picks, Live steel Strings. No effects, doodads or stomp boxes.

Keith Currie · From: Shellbrook, Saskatchewan, Canada

I play mine ever time I can, and I plan to, I didnt buy it to look at for sure.

Jerome Hawkes · From: Fayetteville, North Carolina, USA

not to bust up the party...but some hard cold reflection here...
i cant say i agree with the Franklin steels being "investment" grade situations. right now, they happen to be commanding decent prices - what they will be in 10 years is only speculation. if you paid $4100 in 1998...that was 17 years ago...that it sat in a closet and you could get $10k for it today is probably less than an average mutual fund return over that period....only takes a 6% average yearly return to beat it. that is hardly the returns to jump up and down & base future prices over.

i think the demographics of the steel guitar world have the vast majority of current players now in the 60-70 year old range. they are in a position to buy $6000 steels and $3000 amps and whatever else is out there. this is great for the community. but 10 years from now, who will be left to buy? and if steel guitar continues to decline at the pace it has over the last 10-20 years...there will be way more used steels than players wanting them. you can see the same thing with the vintage baseball card market (or old Ford model A's, stamps, coins..etc)- eventually no one will be left to care about it.

lets not discount the hard cold fact that the younger steel players arent making any money gigging and all of them are looking for paying gigs of any kind and dropping $10K+ on an instrument doesnt look like a wise move. the fact these same players will one day drop $30K isnt going to happen...unless lawyers, dentists and hedge fund managers pick up the steel...which is unlikely. of course runaway inflation and the cost of building a new steel could hit $10K and then they would be a deal.

I think someone who can sell a Franklin today for $10K+ better jump on it.
coming from a business angle - i just dont see having people lined up at the door with $15K wanting a Franklin and Paul Sr locking the doors...for that kind of $$$. i know he wants to retire, and enjoy his golden years, but its known that he has had some help for a while doing the heavy assembly work, which is completely understandable. I dont see how this setup couldnt continue for the near future - esp with said folks lined up with $15K cash burning holes in their pockets. odd to me but i'm sure there is a just reason.

i'm not attempting to bash the price people are willing to pay for steels - i think as many others, PPs are way undervalued at $3-4K...i recall many thinking 10 years ago they would be in the $8-10k range by now
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'65 Sho-Bud D-10 Permanent • '54 Fender Dual-8 • Clinesmith T-8 • '38 Ric Bakelite • '92 Emmons D-10 Legrande II

Bob Hoffnar · From: Austin, Tx

Jerome,' The median age of steel players on the forum is in the baby boomer age group. There are plenty of younger players out there touring and making money.

Most working players don't spend much time here. In my circle of steel playing friends maybe one in ten will occasionally post on the forum.
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Bob

Bob Hoffnar · From: Austin, Tx

As price and availability go there are under 150 Franklins out there total. There are 10 to 20 times as many Emmons guitars.
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Bob

Don R Brown · From: Rochester, New York, USA

NOT playing your Franklin so you can pass down a little-used steel when you die is like not having sex with your wife to save her for her next husband.

Mark van Allen · From: Watkinsville, Ga. USA

Good one, Donâ€¦ Although it sounds like a solid friendship indeed. I hope he's not hurrying you out the door, Kenneth!

I remember reading a short story in Omni Magazine about a future where Les Pauls were revered as a kind of Stradivarius of 6 strings, and when an owner died a committee reviewed auditions and essays to decide who the next owner would be for life. Part of the point was in getting a valued instrument in the hands of a "deserving" musician, for the overall benefit of society.
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Alan Bidmade · From: Newcastle upon Tyne UK

Ken - we have been friends for years...
I'd be honoured to receive your Franklin - drop me a PM so I can give you my current address. (PS I hope you are well...) Devil

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Henry Matthews · From: Texarkana, Ark USA

Lets see now, a steel priced at $10,000 plus and some people say that's a ridiculous price to ask and then someone gets on here and says, your not asking enough, I wouldn't take that for mine. Hummmm, something don't sound right!!!
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Henry Matthews

D-10 Magnum, 8 &5, dark rose color
D-10 1974 Emmons cut tail, fat back,rosewood, 8&5
Nashville 112 amp, Fishman Loudbox Performer amp, Hilton pedal, Goodrich pedal,BJS bar, Kyser picks, Live steel Strings. No effects, doodads or stomp boxes.

Jerome Hawkes · From: Fayetteville, North Carolina, USA

i don't really see $10K as all that outrageous a price for a professional/premium instrument. the good thing is you don't have to have one - plenty of options out there.
my post was more along the lines of don't think present demand means in 10-20 years one left in a closet will bring anywhere near as much as a classic muscle car...i'm sure they won't lose value & will equal inflation over time. its certainly better than stuffing money in the mattress for 20 years.
demand always trumps supply - you can look at vintage Fender guitars...they made way more 50's tele's than Fender Duals, but one is $40K and the other is $800.

I think we are so use to buying things that depreciate over time that its nice to have something go up in value. nothing wrong with that at all.
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'65 Sho-Bud D-10 Permanent • '54 Fender Dual-8 • Clinesmith T-8 • '38 Ric Bakelite • '92 Emmons D-10 Legrande II

John De Maille · From: On a Mountain in Upstate Halcottsville, N.Y.

As it's been said that, beauty is in the eye of the beholder, if someone really wants something, they'll pay for it no matter what. The ideal scenario is the seller gets his high price and the buyer buys at his low price. That, of course, doesn't always work out, though and both parties either get what they want or accept a lesser deal. More realistic in real world terms, I think. Is an old " anything" really worth an astronomical price? Again, it depends on the buyer. I own several expensive things like cars, guitars and guns. I wanted them, so, I paid the market value for them. Did I set the market value? No! But, I contributed to it when I purchased the items. If and when I sell my things in years to come will they be worth more? I don't know. I do know that I'll try to get the highest price I can for them. Hopefully, somebody will deem them collectors pieces and purchase them. It depends on how they see them. If they don't sell at a high price, then, at least I'll know that I've gotten fun from using them and enjoying them. Making money from classic or last run items isn't a bad thing, it happens all the time. If the seller gets 10 grand for his Franklin, more power to him, if not, then , the market won't bear it. He'll either sell it lower or wait for an uptick in prices. Only time will tell. We all want to come out winners, don't we? Personally, I'd like to buy at a lower price, which, would seem more realistic to me, but I'm not selling it.

Kenneth Kotsay · From: Davie/Ft Lauderdale, Florida

WOW, DO I have lots to reply to.

First off I had no idea Paul Sr. is no longer producing steels. I saw a post about 2 months ago about a Franklin selling on the Forum for $8k. I thought that was strange since at the time, I considered new Franklins must be selling for around 6K. I didn't investigate any further on this matter. By the way, I am correct, Paul Sr stopped his production? Will Paul Jr take over?

Also there's a price correction, I left out a $500 deposit I sent to Paul in October 1998. So the total was $4595.00. At the time I received my new Franklin in September 1999 I also owned a new Zum D-10 purchased in 1998 & a D-10 Emmons P/P that was purchased in January 1982 in Yonkers NY for $2,100.00.

I intended too use the Zum as my home practice steel and use the Franklin as my band gigging steel. I was playing in a C&W band here in the Ft Lauderdale area. Shortly after the arrival of the Franklin my band broke up. I did get to use the Franklin on one gig.

About a year later I joined another band but things started to change very quickly down here regarding Country Music. Clubs started to close, bands folded left & right and DJs & Karaoke took over. The bands that remained only consisted of 3 or 4 players, economics started to rule. Thus with 3 steels in the house I left the Zum out for practice. Both the Franklin & Emmons sat in the closet. Then in 2002 I purchased a D-10 EMCI which was almost in brand new condition. It was produced sometime in 1984-86 and purchased by a musician who gave up playing it after about a month. The EMCI is one steel I will not part with, it could be going with me to my grave, no it's not going to be another FREE-BE. Maybe my wife will use it as a flower pot after I'm gone, better yet with over 40 years of collecting pedal steel guitars & stuff she could have one heck of a yard sale.

My Emmons I might want to sell, it's in good condition, needs cleaning up. I'll leave that for another day.

And yes, my bestest loyalest & trust worthy buddy for over 18 years will get to keep my Franklin upon my passing which could anywhere from tomorrow till 15 years from now, and yes It will be kept in the closet only taken out on rare occasions.

The Zum is one great steel, I been playing it since 1998, it continues to work fine, never failing me, I'm talking at least 1 hour per day some time longer, 7 days a week since 1998. Do the math per years.

Any more steels in the near future, not for now, I have another major hobby, it's a 1962 Chevy Impala Convertible 327 Powerglide, (not a frame off, but in excellent condition) this is my retirement toy for now. 1967 here I come.

Kenneth Kotsay · From: Davie/Ft Lauderdale, Florida

BOB H. Very interesting on the Emmons, what is the production run to date?

I see P/P are selling above what they originally sold for. My 1981 P/P was purchased new for $2100.00.

I guess I could get at least $2500+ for it, it's in good condition.

PS - Do you miss the Big Apple? I sure don't, we have summertime in Florida in January, no white stuff to shovel.

KEN

Kenneth Kotsay · From: Davie/Ft Lauderdale, Florida

DON BROWN you forgot to mention, Viagra, two boxes will be placed in the inside the case along with the Franklin, hopefully someday my buddy will find a use for them.

KEN

Kenneth Kotsay · From: Davie/Ft Lauderdale, Florida

ALLEN BIDMAN o.k you'll be placed on the list, if my buddy goes before I do you'll be #2.75 on the list.

KEN

Kenneth Kotsay · From: Davie/Ft Lauderdale, Florida

JERRY ROLLINS You forgot to mention Sho-Bud.

It's a shame that these pedal steel producers are gone, how come no one has come forward in re-starting at least one of these pedal steel companies? Carter had good production runs, cheap in price also. There has to be some investor out here willing to lay the cash out.

Will MSA be the next, what's up with Zum. Both excellent steel producers. Now don't tell me the pedal steel market is drying up. Back in 1968-70 pedal steels where out of range for lots of musicians, wages where not high, cost of living too was a tuffy.

But today you see kids driving BMWs, big SUVs, $36k Camaros, flying off to Europe, carrying 3 cellphone, sneakers that cost $150 a pair.

There's money out here.

Thanks for your post.

KEN

Jerry Roller · From: Van Buren, Arkansas USA

Kenneth, I'm not too sure about Sho Bud. Gene Haugh who was the last of the Sho Bud builders I am aware of is not far from me in or near Magazine, AR and I'm not sure a new Sho Bud is out of the question. I really don't know. I'm sure he has everything he would need to build one.
Jerry
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Dean Holman · From: Branson MO

My problem with owning a Franklin would be the fear of something happening to it or it getting damaged accidentally or even possibly stolen. So as a player that plays for a living, buying a 12 grand plus Franklin would be kinda risky. Some of you guys who have older Franklins or bought them when they were 3 to 5 grand only have that much invested which is still a lot of money at that time, it's still a huge difference from paying the 12 grand or more price tag and taking the risks of owning one to use all the time. On the other hand, paying that kind of money for a Franklin to just sit in a closet doesn't make much sense to me either. Why pay that for something your not going to use or enjoy unless you just have it set up at home. I guess my point is that it would be kinda scary to own a Franklin especially considering it's value and you have today's prices invested in one. I'm by no means saying anything bad or disrespectful about Franklins, only a point of view.

Jerry Horch · From: Alva, Florida, USA

Maybe Paul will start building steels.....a small,lightweight,compact size guitar...."The Junior "
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