Buying a Gibson Loar

[j. condino]

I'd definitely rather have Bruce's place on Orcas Island than an old mandolin!

[mrmando]

Bruce may be crazy, but not crazy enough to trade his house for a Loar.

I think.

[Timbofood]

If you want it, can wait for eighty years to realize profit, just buy one!
Once again the "Tuco" theorem applies
"If you're going to shoot, shoot! Don't talk about it"
Say good night Gracie.
I'm not advocating the purchase one way or the other.
Happy Valentine's Day!

[Spruce]

Bruce may be crazy, but not crazy enough to trade his house for a Loar.

Shhhhh...

I dunno. It seems to me that the investment potential on those has passed it's time. Top of the pyramid.

I do believe I've heard this before...

[f5loar]

It's like the question you ask your broker as to when to buy a certain stock. You usually get the answer "yesterday, so today is not too late". If you can't handle the ride, don't jump on. I've enjoyed my ride and will until the day I die and then it will be someone's else problem as to how much profit I did or did not make after the IRS get's their cut. With the enjoyment and sheer pleasure it's brought me all these years, I'll be happy to smile down from heaven with a break even!

[f5loar]

In fact, Monroe did own real estate outside of Nashville. And his F5 helped him earn back what he invested in it, plus a little bit extra.

Correct you are! Monroe along with many of the Opry legends like Acuff, Minnie Pearl, etc. did buy up the land that was to become Opryland in 1974, so they all did very well on their early investments in the Nashville area.

[f5loar]

Thats strange, I've bought an old F-7 Gibson from him and everything was great, this was 15 years ago, maybe he's changed? Or busy, Call him on the phone? Good Luck.

I have known and done deals with Tony for over 40 years and never had a problem. However I do live fairly close to him so getting the chance to pick before you buy does help. I've heard of Loar buyers buying a plane ticket to pick it up in person and then fly back with 2 seats for the safety of traveling with the Loar.

[Ivan Kelsall]

Having just read the book - "The Music of Bill Monroe" with all it's extra info., it seems that BM has a ranch down in Texas as well.
It was while he was down there that he became aquainted with some place called 'Daingerfield' ??,
Ivan

[NursingDaBlues]

Big bucks I know 165K range ... At this stage in my life I can actually afford it... just convincing the other half it is a good investment ... as I approach the retirement age thinking what the heck,
maybe go for it.... Have any of you Loar owners any advise? Most recently I have been to Carrter and Gruhns checking some out.

Admittedly, I have not read through the entire thread, so I don’t know if I’m repeating what others may have said. However, “investment” does not always represent a speculative venture with the hopes of a monetary return greater than what was initially put in. Frequently a Return On Investment may be an intangible benefit or benefits. For example, I may choose to “invest” in a tuxedo rather than rent one because I plan to attend Mardi Gras Balls over the coming years and a good classic tuxedo doesn’t go out of style. Another example is a friend who recently “invested” a goodly sum of money and time in restoring a 1955 Chevy because he finds great enjoyment and relaxation in restoring old vehicles; he knows he will never get out what he put in, but that’s not his intent.

Now let’s say that I was the original poster. Having a LL could offer an immense amount of pleasure and enjoyment that far exceed any monetary expectations. I know that there are many luthiers who produce exquisite instruments, but few have the mystique of a Loar. I know that I’m nowhere near the same league as Chris Thile or Mike Marshall, so why would I want to alter a LL for it to play or sound “better?” I lean toward being a purist and tend to not want to alter an instrument for any reason. So, if it were me, I’d want a LL just as close to factory original as I could get it. And then play it, and soak up all of its tradition and heritage and history, and enjoy it beyond any monetary measure.

So for the original poster, that individual just needs to answer some tough questions:
1. Would it give you joy in owning one?
2. Would it give you a thrill to have a certain amount of bragging rights in owning such a rare, highly sought after mandolin?
3. Would it represent some type of “achievement” in your life where you have the financial independence that allows you to reward yourself with something indicative of what you love to do?
4. Would buying one put you in a financial hardship – now or in the future?
5. Would you have to secure a loan to get one?
6. Could getting one jeopardize your retirement?
7. Could getting one jeopardize your relationship with your “other half?”
8. Would you not play it because you’re afraid of damaging it?
9. Would the only reason to purchase it is to impress others?

If you answered “yes” to questions 1 through 3, and “no” to questions 4 through 9, get a Loar. If not, then don’t.

[Jeff Mando]

Good points made by NursingDaBlues! I think this might be the heart of the "Loar" discussion, that is, we all want an instrument that is above our "pay grade" don't we? It is just human nature to want better. Most of us can afford something in the under $500 category, some of us can afford a $1000 mandolin, a few more of us can do $2-5K, and as we go up in price it becomes more of a spectator sport for most of us. To be blunt, a married person with a mortgage, family, and bills with $200K in a retirement account CANNOT afford a Loar. IMHO, you would need much more of a cushion to make such a purchase. If you are worth a million or two, sure, get ya a cool toy, in that regard a Loar is no different than a boat or a fancy car -- might actually hold its value better (or at least some of its value)!!! A gray area is when a guy bought a Loar 30 years ago when he was single for X amount, more than likely a tiny fraction of what people ask today, managed to hang onto it, but now has a family and mortgage and really could use the cash flow for life's expenses........in my way of thinking, in this situation even though you have relatively little money invested, it is still costing you $175K to keep it, if you follow my thinking, because the money could be used for other things that make life nicer --again, thinking TOTALLY as a middle-class person, which I am. (at least, on a good day!)

[JeffD]

Big bucks I know 165K range ... At this stage in my life I can actually afford it... just convincing the other half it is a good investment ... as I approach the retirement age thinking what the heck,
maybe go for it.... Have any of you Loar owners any advise? Most recently I have been to Carrter and Gruhns checking some out.

Reading all the comments - most of my thoughts have been expressed.

I can say, for me, that I wouldn't want the burden of ownership, as a privately owned instrument. The amount of worry and care I would have to take would offset the fun of the playing (and bragging).

I would sooner spend the money and get five or six $20,000+ wonderful mandolins, from name makers, and enjoy the potatoes out of them, knowing that I am not risking all of mandolin history with every possible ding.

There are many many better more secure ways to invest the money. Its not a good investment.

I think that a signed Loar would be one of those possessions that owned me.

Now, I might think about a business wherein I owned the instrument, and leased it out to world class performers who wanted to record with it or play a concert, but didn't have the money to own one. Considering insurance and other expenses their may not be a whole lot of money in such an enterprise, but in addition to owning the instrument I sure would meet a lot of cool people.


I also know from personal experience that it really sucks to come through hard work over long time to a place where one is able to achieve a life long dream, and find that the hard work and maturity achieved over that time have given the perspective and insight that perhaps the dream isn't (and never was) all it was expected to be.

[Charlieshafer]

I also know from personal experience that it really sucks to come through hard work over long time to a place where one is able to achieve a life long dream, and find that the hard work and maturity achieved over that time have given the perspective and insight that perhaps the dream isn't (and never was) all it was expected to be.

Big time nail on the head enlightenment. I had a filmmaker friend who always wanted to meet Hitchock. When opportunity came up, it wasn't a pleasant encounter. I'm with Jeff, here. You finally get it, but...

[dhergert]

It's hard to miss so this may be old news... But there's a signed Loar on consignment from Elderly in the Cafe' classifieds this afternoon. $135K. Drool.

As discussed a lot here, probably not a good investment tool, but I'm sure it would be fun as long as you're determined to play it and enjoy it for all its worth...

If I were in the income bracket to consider this without being fiscally stupid, I'd plan to take good care of it, but I'd also expect to play around $35K worth out of it for the rest of my life, then my family can sell it for around $100K and not feel bad at all about it, realizing what fun I had with it.

Hey, we can dream...



(NFI)

[barry]

I've gotta pipe in here.
There was a time, when I was feeling a little too liquid for my own good, and I flirted with the idea of getting one. I get it. They're really cool. Forget about the whole discussion about better or worse than a modern instrument. They're historic, collectible, and cool.
Anyway, about the time I was giving it some consideration, a friend of mine had one (of his multiple Loars) develop a seam separation which needed to be repaired by one of the handful of guys that you would really want to properly repair your Loar.
Then it occurred to me. If that were my instrument, I might not have a night's sleep until my mandolin was safely repaired. Given the short list of go-to guys, that could be months, or longer.
That snapped me to the realization that there was a difference between "having the money to buy it" and "being able to afford it". If you think you'll worry about it, stay out of the game.
The fact that the original poster is seeking counsel from this forum, suggests that several top-tier modern instruments may give him more true enjoyment.

[dhergert]

Well, I forgot to mention. In my Loar dream, I'd have a Gil as a backup/beach/beater mandolin.

[John Soper]

C'mon guys & gals, we only rent them anyway. I'm in the if I could, I would camp. But I won't at this time...

I just know that if I bought one it would be Exhibit #1 in my divorce hearings...

[DataNick]

...I'm in the if I could, I would camp. But I won't at this time...

I just know that if I bought one it would be Exhibit #1 in my divorce hearings...

Ha!

Careful, you do know about self-fullfilled prophecy don't you?

[Jeff Mando]

It's hard to miss so this may be old news... But there's a signed Loar on consignment from Elderly in the Cafe' classifieds this afternoon. $135K. Drool.

They seem to be popping up everywhere. Maybe it's time to liquidate, rather than invest........as my buddy would say about the vintage guitar world, there are more 1959 Les Paul's for sale today than there were in 1959.......

[JeffD]

I also know from personal experience that it really sucks to come through hard work over long time to a place where one is able to achieve a life long dream, and find that the hard work and maturity achieved over that time have given the perspective and insight that perhaps the dream isn't (and never was) all it was expected to be.

Big time nail on the head enlightenment....

I have this other theory that such a realization is really really hard. Much easier to say the spouse won't allow, than to say there is no real romance in the world.

Whether or not its true that the spouse won't allow.

Maybe I am reading too many "Fairy Tales for the Disillusioned".

[Spruce]

They seem to be popping up everywhere. Maybe it's time to liquidate, rather than invest........

Which is exactly the time to buy...

[Upis Land]

I have this other theory that such a realization is really really hard. Much easier to say the spouse won't allow, than to say there is no real romance in the world.

Whether or not its true that the spouse won't allow.

Maybe I am reading too many "Fairy Tales for the Disillusioned".

Whether or not there is romance in your world is going to be dependent on your attitude. But if you have worked hard all your life in hopes of realizing a future dream, then maybe your dreams and romance are stuck in the future. While misplaced dreams may disappoint, a habit of expectation of good may see good things consistently flowing into experience. (including the right musical instruments to enjoy)

[JAK]

What would Warren Buffet do?

[mandroid]

Buy the Holding company that owns the Gibson brand manufacturing company..


What would Jimmy Buffet do?

[dhergert]

They seem to be popping up everywhere. Maybe it's time to liquidate, rather than invest........as my buddy would say about the vintage guitar world, there are more 1959 Les Paul's for sale today than there were in 1959.......

Yup, we actually have a similar saying in the vintage banjo world... Seemingly valuable vintage banjos are notoriously easy to modify into existence.

I really like the fact that vintage mandolins are not as easy as vintage banjos to "modify into existence". To a large extent, we can thank the dove-tail joint for that.

[Hendrik Ahrend]

They seem to be popping up everywhere.

Not much "popping" in that case, the one at Elderly's has been available there for about ten years.