Ridiculous Reverb vintage guitar asking prices - why?!

[LAPlayer]

Originally Posted by Talk2Me

...... Items that have been listed for a long time are ripe for messages to the seller to see if they'll budge after all that time (though see sentence 1 of my reply).

I agree. I rarely purchase online but when I see something I want, and I believe it is overpriced, I contact the seller with an offer and clearly explain why I believe it is overpriced. I always do my research on all known sales for that model, year range and condition. Generally I'll get them down to where I want it, or we compromise fairly for both, or I go away.

[TheGITM]

I don't even bother negotiating. I decide what I'm willing to pay, and when I make the offer I will just say something like "I have $xxx to spend right now. I know that is less than you are asking, and I understand if you decide to pass and wait for a higher offer. I just like the guitar and this what I have to spend."

If they reply and pass/decline, then I just tell them I understand and hope they get what they are asking. I usually even say something like "It's a great guitar. I think if you wait you might get it."

The last time I made that kind of offer it was on a new listing and the guy replied, asking if I'd wait until the end of the day so he could see if any other offers came in. I said that was fine, but that I had other offers out there and if one of them popped I'd have to be out as a buyer since I only had $xxx to spend. He replied and accepted my offer. A bird in the hand, I suppose...

I don't buy a lot, and I only buy within driving distance so I can see the guitar before finalizing the deal. So far, all have been great transactions.

[rmp]

Originally Posted by jimmy bookout

You mean like this?

https://reverb.com/item/14099655-the...-acoustic-bass

!! and only 700 bucks for shipping !!

[Osage]

Originally Posted by rollypolly

Is it because they think it'll drive up the average value scale that Reverb provides? Do they actually sell these guitars for 3x the realistic price?

It's just a shame as when I'm shopping for a guitar, there are only about 3-4 listings with reasonable prices and the rest are literally 2-4x that. Most have been listed for months or years.

I'm talking specifically about vintage Gibson and Martins.

What gives?

Top tier vintage Martin and Gibson guitars command a very high price and while they can sit for a while, they typically sell. Watch how fast some insanely high priced guitars sell from a store like Retrofret. If you get their updates it's amazing how many guitars sell almost as soon as they're listed. And those are the ones that make it out into public listings.

[Arapaho G]

Asking price doesn't mean selling price. I've seen the same thing in the classifieds on this forum.

[Moldstar]

Originally Posted by Talk2Me

Many sellers are deluded as to what their instrument is worth. Others are just trying to get as much as possible. Then there's the combination of the 2 factors. Items that have been listed for a long time are ripe for messages to the seller to see if they'll budge after all that time (though see sentence 1 of my reply).

This is the truth.

[Bowie]

They are casting a line with a big hook, because it costs them nothing to list. It's the same reason people buy lottery tickets.

As far as people being delusional goes, there's a lot less of that than people want to think. Back when ebay charged you to list something you saw FAR few instances of blatant overpricing. When things are free to list, some people with lots of extra time try to hook the big fish. And, there are impulsive buyers for whom money is not an issue, who do buy wildly overpriced items sometimes.

[CharlieBman]

People can charge whatever they want. Is it really an issue? Just do your research and if you feel a guitar is over-priced...don't buy it. You many have to look at the price, but no one is forcing you to pay it. I certainly don't think there is any conspiracy going on.

[TJNies]

Originally Posted by rollypolly

Is it because they think it'll drive up the average value scale that Reverb provides? Do they actually sell these guitars for 3x the realistic price?

It's just a shame as when I'm shopping for a guitar, there are only about 3-4 listings with reasonable prices and the rest are literally 2-4x that. Most have been listed for months or years.

I'm talking specifically about vintage Gibson and Martins.

What gives?

Can you provide an example? Martin vintage prices have risen significantly for guitars in the preferred era(s), with mostly original finish / bridge / bridge plate etc.

But I have seen a number of listings for far-less desirable eras of models with full refins, replaced components for ridiculous prices. But I guess a dreamer can dream...

[Charlie Bernstein]

Reverb's value scale is based on selling prices, not asking prices.

I recently paid a ridiculous amount for a guitar on Reverb because it was a guitar I wanted at a time I could afford it and didn't want it to go to someone else.

No crime is asking a lot. The worst that'll happen is you won't get it. Sellers who aren't in a hurry for cash usually ask for more than they actually want. Whether any of us bite is up to us.

[Rev Roy]

[sinistral]

Originally Posted by Osage

Top tier vintage Martin and Gibson guitars command a very high price and while they can sit for a while, they typically sell. Watch how fast some insanely high priced guitars sell from a store like Retrofret. If you get their updates it's amazing how many guitars sell almost as soon as they're listed. And those are the ones that make it out into public listings.

And therein lies the rub. If one lists a guitar for $125,000 and it sells in an instant, it makes one wonder if the price could have been higher. I put a dozen or so guitars up for sale on consignment a couple of months ago, and three sold within days. I kick myself for not asking $500 more for each of those guitars—I probably would’ve gotten it.

[seannx]

One way to think of this is to separate vintage guitars for collectors that are more rare and/or are in the best cosmetic and original condition, from “player grade” ones showing lots of wear, with repaired cracks, etc. I got my 1950 Martin 00-18 six years ago, which looks like it’s had a rough life, plus a few well repaired cracks, and sounds amazing, for less than a new one would have cost. Comparable ones on Reverb are listed for about twice what I paid, but still under 5k. While I had often read posts about how nice vintage guitars could sound here on the AGF, it wasn’t until the first strum with mine that I understood what could be possible. Later that year I played a 1946 or so 00-28 on consignment at a local store. Unlike the great condition of the neck on my guitar, there was excessive, deep wear between some of the lower frets, it didn’t sound so great compared to mine, and the high e buzzed. It belonged to the collection of a well known collector, and the “reduced” price was over $20K.
IMO no one who wanted one that age and condition to actually play and enjoy would get it, but it would appeal to a collector, who would be fine with the price.

[stephenT]

You can only sell an item once
Price isn't just one thing
There's a buyer out there for most everything
Everything is negotiable

[A Scot in Otley]

Originally Posted by jimmy bookout

You mean like this?

https://reverb.com/item/14099655-the...-acoustic-bass

Brilliant! Who wouldn't pay a premium for the power to make the Earth vibrate, and exploding notes.

When you play this bass you can literally feel the earth vibrate and your stomach rumble. It reaches so inside with its power and then takes you anywhere with its long low frequency and crisp notes. Each seems to bloom just outside the bass with a small explosion.