Collectors heading this way?

Tom Quinn · Posted 27 Jun 2006 7:53 pm

Pedal steel guitars have a history that parallels the rise of American combo pop music. You can see old band pictures from the 50s, 60s, 70s, 80s -- up until today with a steel on the bandstand.

Guitars of the same era have taken a quantum leap in pricing over the past two years. A '57 Strat that cost 10 grand a few years ago is now going for 35 large and up. Even the humble Les Paul Junior is five figures these days. And a '59 sunburst? At the Tokyo Guitar show last week, I talked to an American collector who said that 400,000 dollars is no longer out of reach for a well-flamed instrument.

Older Sho-Buds have had a bit of a bump lately, and most vintage Emmons D-10s are over three grand. But this is peanuts compared to guitars, electric basses and even vintage drums.

Sooner or later, someone is going to figure out that old steels are worth some potentially big bucks -- they aren't making them anymore, and I don't want to get into the new vs. old thing -- this is about collecting... :- )

So? Old amps, steels, pedal steels... are we gonna see a big jump in price? Let's hear your opinion!

And if you have a 50s Telecaster for under 500 bucks, please let me know... -L-

Tq

[This message was edited by Tom Quinn on 27 June 2006 at 08:54 PM.]

James Lombard · From: Wisconsin, USA

I don't believe we'll see a large bump in the price of vintage Pedal guitars, anytime soon, due to the fact that they are presently a niche instrument, and largely unknown to the segment of the public that is stupid enough to pay 400K for a '59 anything. Pre-war D-45's of which only 91 were made fetch 160K, and may be worth it. Even Bigsby steels are only now approaching five figures.I saw the same thing occour with Antique Motorcycles. Even turnkey reproductions of extremely rare bikes are getting prices akin to original models. Until someone really breaks out and makes the steel something that's seen and heard widely in the mainstream of music, probably R&R,the desire to own or collect vintage steels will be confined to the small fraternity of us who know the
heritage of these instruments. I have a '55 Precision Bass that is my only Bass, and I use it when I do a Bass gig. Sure it's old, and probably worth a lot of money, but it's a tool, to be used for what Leo designed it for..to make music. When someone paid that 400K for that Les Paul, it forever set the price for all succeding sales of Les Paul's of that vintage. so it goes.. Regards, JL

Mickey McGee · From: Phoenix,Az

Guys don't rule anything out at this point in time-I just went to the levis online store to buy some jeans well,orig.501's 1955 style are $325.00 per pair-NO JOKE!

Jim Walker · From: Headland, AL

Vintage? Rare? Flamed?

Does this Qualify?

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Clark Custom D10 8&5
Fender Steel King
B-bender Telecaster
Line 6 Flextone II Plus
www.jimwalkeronline.com
My Space

Per Berner · From: Skovde, Sweden

I won't be surprised if old steel prices take a deep dive in the future, for a number of reasons:

- The vast majority of players (and especially multiple steel owners) seem to be 60- or 70-something today, and sometime within the next 15-20 years they will all give up playing or perhaps even pop their clogs, flooding the market with old steel guitars, with very few prospective buyers. Let's face it, we are a dying breed!

- 20 years from now, very few people will know how to work on all those old ZB's, p/p's, cable Fenders and early 'Buds.

- If an instrument is not usable in modern music, not many will want one. There may not be much of an audience for steel sounds in 15-20-30 years time, and steels that are difficult to keep in tune and weigh a ton won't find many fans then. On the other hand, an old Strat or Les Paul still works just fine in any style of music... at least until guitars go out of style totally. Which CAN happen, and then I wouldn't want to be sitting with a closet full of 100k+ vintage Gibsons...

- Look at classic cars. Selling a 20's-40's standard model of any brand is becoming difficult, since the people who have money to spend on classic cars are 40-60 and only want the cars they lusted for in their late teens. Sooner than you think cars of the fifties and sixties may go out of fashion too, being replaced by newer oldies.

Historically important and/or exceptional examples will always find a market, that is generally true for cars and guitars alike, but IMHO, most old steels will struggle to keep their value over the next decades. I hope I'm wrong, but I don't think so.

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´75 Emmons p/p D10 8+4, ca '72 AWH Custom D10 8+3, Hybrid Zum coming soon, Peavey Nashville 1000

Bobby Lee · From: Cloverdale, California, USA

A. J. Schobert · From: Cincinnati, Ohio,

I wouldn't buy a PSG as an investment tool, nor would I buy a standard guitar, to me it is a little risky, first you have to have the right intstrument, and then have the right person willing to pay top dollar it harder than peaple think, I'm doing very well with stocks. Now I know you don't want to make this a new vrs. old thing tom, but I would take my 3grand and get a new steel.

A. J. Schobert · From: Cincinnati, Ohio,

I do wish that I didn't throw out my old star-wars toys!!

chas smith R.I.P. · From: Encino, CA, USA

Until steel guitars are considered to have social non-conformist bad-boy attributes, like rock n roll, hotrods, Harley Davidson, etc. I doubt they will get the really big bucks.

I could make an argument that the rock n roll "spirit" that has degenerated into the marketable commodity that rock (and country music) has become is so conformist and predictable that the instruments that were used in the beginning, when it had "life" in it, are now "sacred objects".

From my experience, the steel guitar generates responses of awe and respect, more "this guy is different" than, "he's a rebel" ( Confederates not included).

Fred Einspruch · From: Alaska

In my experience, any good quality, name brand musical instrument will go up in value. There are only so many Sho-Buds maded. Some of these have been destroyed.

I bought an LDG a few years ago for $1250.
I bet it would not last five minutes on the instruments for sale board here at that price.

High quality, made in the USA musical instruments ALWAYS go up in value over time.
For example if the newly rich chinese ever get into PSG watch out. Should you invest your retirement assets in vintage PSGs? Probably not. But if you are interested in playing one, its probasbly a great investment.

That vintage 60s tele that I used to own, yep regret selling that one, along with the 60s Jazzmaster and that old Gibson L6s.
Still have the 72 Les Paul that I paid $650 for, probably worth triple that now.

High quality vintage instruments do not decrease in value. And vintage amps do not do do badly either

Donny Hinson · From: Glen Burnie, Md. U.S.A.

Eric West · From: Portland, Oregon, USA, R.I.P.

I'm holding out for 25 grand for my MSA Red Baron.

Patiently.

EJL

John McGann · From: Boston, Massachusetts, USA * R.I.P.

Eric, can I have some of that spray-on Cryogenic when yer done? I wanna be around to collect, too...

Lefty · From: Grayson, Ga.

Its a finicky market. I believe when Sheryl Crowe did a video with her guitarist playing a maple maverick the price of one on Ebay went up about 4 or 500.00.
The Mike Bloomfield 59 Sunburst Les Paul Super Session syndrome, for those who remember that.
They might not be the best investment, but I love having them around (my 2 anyway).
I have been tempted to buy a couple of right handers, even though there is no way I could play one, just because they are works of art IMO.
Lefty

Gene Jones · From: Oklahoma City, OK USA, (deceased)

I sold my Edsel for $100.00 just to get rid of it....and then a few years later it was a "collector" car. I tried to buy it back and the owner laughed at me!

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www.genejones.com

Roger Edgington · From: San Antonio, Texas USA

Gee. Maybe I'll really have a retirement someday afterall. Maybe I should invest in more steels while they're cheap. Think my wife will go for it?

Roger Edgington · From: San Antonio, Texas USA

Gene, I sold a glass top ford for $100

Keith Poteat · From: North Carolina, USA

A car dealer in our town had a 55 Chevy Nomad crushed because he couldn't sell it!

Gary Shepherd · From: Fox, Oklahoma, USA

I had a Trump acoustic guitar from Walmart when I was starting out. Maybe I should have kept it for an investment. It was well-made. Well, it was made anyway.

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Gary Shepherd

Carter D-10

www.16tracks.com

Marlin Smoot · From: Kansas

I don't claim to be an expert, with that in mind here are some things to consider in PSG pricing:

You have about 5 to 6 thousand members on the Fourm. There are maybe, another couple of thousand that visit the site. With that in consideration whatever the actual numbers are, there are a lot more pedal steel players than the numbers mentioned. There are a lot more Pedal Steel guitars than there are players too.

You have a captive crowd here that specilize in pedal and non-pedal guitars so the pricing will most times be listed on the forum higher than someone selling in your local area. Knowledge is a powerful thing.

There are always deals availiable if you can wait for it to come your way.

Ebay ruined the art of the good deal, now days people who see something listed on ebay or perhaps on this forum at a high price may think their guitar is worth the same without considerations such as condition, set up, levers, etc...

Sadly, the pedal steel guitar is not as featured in modern country music which may also lower the demand. A lot of bands don't carry a steel player because their thinking may be; it is considered a luxury thus perhaps lowering the demand yet again.

Also because steel players seemingly are hard to find for a lot of country bands, and the lack of throngs of the younger set learning to play it, may also lower the demand.

There may be a glut of steel guitars in the future and when supply goes up, demand goes down but we'll have to wait on the future to know that. There will always be people who know the value of a guitar, but getting someone to pay that price may take a little longer.

I've seen guitars owned by pedal steel celebritys go for the same pricing as non-celebrity owned guitars. I've seen people list a guitar and then a few days later lower the price on the forum.

When you look at some of todays steel guitar makers, they only have a few people in their shop and this could be the reason many players wait up to or over a year to get a new pedal steel. When a person wants something, in todays society, they want it now, they're conditiond to having instant gradification. we are a fast society. Fast food, microwave ovens, instant rice, buy now pay later etc...
Having to wait over a year may not be in the best interest of the consumer wanting something now...like a pedal steel thus the desire may go to something else.

Steel guitar companys also don't do much to promote the instrument outside of the pedal steel guitar world. Perhaps they don't need to...or really want to because of their small opperations and they are happy selling all they can turn out even if the production numbers are low.

Carter guitars do a good job at mass advertising...at least they have a Carter Starter in Musicians Friend catalog and trying to expand their base.

I have to agree with a few others, unless something really special happens like a personality such as an Eric Clapton type plays pedal steel in modern music or the music industry brings the steel out front in the mix again...used pedal steel guitars may only see slight increases in pricing over longer periods of time. They may not appear to have the "cool factor" as a 6 string around a stars neck...

Another thing to consider is; the American guitar prices were driven up by the guys in Japan coming over here buying as many as they could at guitar shows. Now prime examples are hard to find and when you do, cha-ching, BIG money. If a market like that started in on pedal steels, the price would go to the top of the instrument food chain. That's not going to happen anytime soon.

As long as the Pedal Steel guitar has been around...I still get people asking "what is that thing"?

I would like it if the PSG would become a higher profile instrument in modern music. Without question it would help the PSG community but we may have a long wait along with increasing values.

Charles Curtis · Posted 29 Jun 2006 2:11 pm

Which of the two instruments is the easiest to play, carry etc. How many years does it take a musician to be proficient, or "good" as known in the trade with a psg? I think the psg will be around for years to come but just how many will pay the price to become real good with it? I was just listening to a CD, produced by Bobby Flores, featuring Christine Mims and there is some "killer C6" but how many guys can play like that? I think that the larger market for 6 string guitars will always be there with more buyers for the "unique" rare guitars. I could be wrong but I too can appreciate what the market value for a 40 year old psg has been. When I buy a psg it's strictly to play it myself.

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