Ever find a Loar at a flea market? [Archive]

Loren Bailey

Jun-14-2004, 8:09pm

I obtained my mando (a Breedlove) by reselling a Dobro brand resonator uke. My Grandmother bought the uke at a garage sale for $2. She gave it to me and a year later I finally had some one appraise it. I sold it for $1000 and used the profit for my mando. My grandmother, who has one arm, gets tickled every time she thinks of that uke sitting in her closet.

LB

Jun-14-2004, 8:12pm

I heard of a loar being had at an estate auction for cheap money. Somewhere in the Northeast I believe it was

sunburst

Jun-14-2004, 9:45pm

The tough part here is "first hand knowledge".
Charles Johnson has a Loar that turned up in a pawn shop somewhere near Culpeper VA. That's second hand knowledge.

fatt-dad

Jun-15-2004, 6:48am

My 1919 A3 White-face came from an old preacher's attic - it needed repair and we settled on $75.00. (I have since put over $500 into it.)

My Gibson L-00 (guitar) came from an estate that my father in law settled. It sat in his flea market in Florida and then ended up mine. I think he had $40 or $50 on it.

Somewhere there remains good deals to find. This is what drives MAS - ha.

f-d

danman

Jun-15-2004, 8:42am

My guitar player found a 1951 Martin D28 at at yard sale. It was in 3 pieces. He paid $100.00 for it, had it repaired and it sounds fantastic. I found a fiddle made by John Selby of Toledo, Ohio. Dated 1916. I paid $70.00. It plays and sounds great.. It was appraised at 1500.00 this past year. Just luck and people not knowing what they own.

Jim Garber

Jun-15-2004, 9:06am

Closest I ever came:

I was taking lessons from Roy Smeck (yes the one on all the Harmony instruments and the instrution books) back in the mid 1980s. One day Roy told me that a student of his had a mandolin that she might want to sell. He told me to bring the case from the next room. Old rectangular (uh oh I said). I opened it up and saw an F5 and then saw the Loar label.

At that point Roy said, what do you think it is worth -- a thousand? I shook my head. Two thousand? I told him to give me the seller's number. At that point I think Loars were about $10-12000. Of course, all the way home I was racking my brains trying to figure out how I could drain all my savings accounts etc. I realized that I didn't have much in that way, maybe $3000 or so. When I spoke to here she said that she wasn't really selling it but just seeing what it was worth and it belonged to her dad who inherited it from her grandfather who was the concertmaster of the Newark NJ Mandolin Orchestra. I think he bought it new. She knew it was a valuabel instrument since a number of folks over the years had hassled her dad about it.

Anyway, my brush with greatness...

Jim Garber

Jun-15-2004, 9:10am

it's not a mandolin, but my guitar (1946 gibson southern jumbo) was found at a yard sale by a friend of mine about ten years ago for $100. it's pretty beat up, but it's the best sounding acoustic guitar i've ever played.
# # # # # # # # # # # # # # # # # # # # john
Funny.... I also found my Southern Jumbo ca. 1950 at a flea market prob 15 years ago but I paid $325. it is still my favorite guitar.

Jim

Hondo

Jun-15-2004, 9:23am

Not a mando, but I once paid 20 cents for a book that I later sold for $800. Wish I had a few more of those to finance my next mando...

JD Cowles

Jun-15-2004, 9:24am

when i was in college i saw an old f mando at a yard sale. at that time i played a little guitar and knew nothing about mandolins. it was $60, and that was a lot of money then, so after much (not enough) thought, i left it there. i'll never know what it was http://www.mandolincafe.net/iB_html/non-cgi/emoticons/mad.gif

MANDOLINMYSTER

Jun-15-2004, 9:44am

Years ago I went to a yard sale and saw a little hardshell case. It was a 1920's Martin uke, didn't really have a need for a uke or didn't really know much about them, but for $35.00 I decieded to buy it. On my way to pay the guy I saw another Martin uke...koa wood I might add, for $25.00 with #case. I picked that one up as well. The guy said oh you want both, how about $50.00 for the pair. Years later I relized the true value of these little boogers. That was a good day.

Staramouche

Jun-15-2004, 10:02am

My folks go "saleing" every Saturday in Florida and scooped up a mando for $35, no case and really old strings. A little research proved it to be a 90+ year old Vega cylinder-back. The fret bars needed sanding and I got her a new bridge (and strings) and now she sings so nice! I've told my folks to keep their Saturday ritual and call me with any more musical finds!

~~~~~~~~~~~~~~~Joe

Blind_Cowboy

Jun-15-2004, 10:06am

The only things I ever found was a trumpet case for $2 that now houses my harmonicas. A briefcase for $1 that now houses my pedals (guitar), a 8' industrial shelf unit that I dug out of the trash that now houses my studio equipment, a Bose passive sub woofer (trash) that had a bad connection, 2-19" monitors (trash) that had (A. bad connecter-B. blown capacitor on the power circuit) that allowed me to have a dual monitor studio, a 1950's Hohner Marine Band Harp that I won on E-Bay for $2, and a couple of other odds and ends that have been salvaged.

I'm always amazed at what people will throw away. I just keep waiting for that one moment when i'll see a guitar neck sticking out of the trash can and find that the owner threw away that old Gibson because the strings were all old and broke.

Bob A

Jun-15-2004, 10:12am

I've bought books from yardsales for a buck that were worth 1-200. Got a Greek baglama off ebay for 66.00; it's worth several hundred. A Gibson LG2 from 1950 for 100+100 in repairs - still ugly, but a wonderful instrument.

On the other end of the scale, got maybe the world's cleanest A2Z for 1750. A Martin 018K (Spanish) with the loveliest flamed koa I've ever seen for 1200, years ago. Both from dealers. Time alone has increased their values two- to four-fold. And too many others that are just holding their own, but I get to play them all I want.

A Loar-signed L5 walked into a guitar shop hereabouts, and the little old lady walked out with several hunderd bucks; the dealer still has it in his collection. In Rochester a Loar F5 walked into a local music store, was referred to a local vintage dealer; everyone walked away with wads of cash in their pockets, except the lucky soul who got to walk with the Loar. (Had to walk; couldn't afford the gas any more).

So what's a bargain? The Loar I saw at a guitar show for 25 grand eight or ten years ago? I didn't think so at the time.

Darryl Wolfe

Jun-15-2004, 10:22am

I've had far better luck with electrics..for some reason the nice mandos have never turned up for me. #I did trade a guy a new Kentucky KM1500 for a '61 Gretsch White Falcon and a 1915 A mando. #I did buy a '63 Jazz bass for 300 in a pawn shop..and I did buy a '61 Strat for $200 out of the newspaper..and a 62 Precision bass for $200 out of the paper. But, when it came down to buying Loars...I've had to pay $6000 for my first one, $7500, $9000 and finally $7800 for the one I have now. Ah shucks

Tom C

Jun-15-2004, 10:30am

I was in Mandolin Bros when a man walked in with 2 instruments. A martin Uke and a Gibson Banjo. He had just bought a house and he said he had 3 ukes and 3 banjos (all the same) that he found in the attic. I'd say that's a nice present after shelling out all that $ for a home.

Fred_Murtz

Jun-15-2004, 12:53pm

My mom called me a few years back saying she had found, "this little guitar at an estate sale and since it said GIBSON on it and it was only $5" she bought it. I drove over to her house very fast to find a 1955 Gibson BR9 lap steel in mint condition in the original case.

A co-worker who lived in south Texas said one year everyone in his little town had to converge at a small farm to get well water after a hurricane had messed up their local water supply. He and the farmer got to talking and the farmer told him he had a guitar "out in the barn" that he'd sell for $75. My friend initially thought it must be a peice of junk, but went back a couple weeks later and came home with a 1959 Gibson Les Paul Gold Top for $75!!!!!

A teacher of a computer class I took recently said her husband played in bands around Tennessee and Kentucky. While in a small town in Kentucky he was conversing with the locals about any pawn shops that had instruments. One good ol' boy said he had a guitar he wasn't using. He said he was tired and going home to sleep, but he gave this guy directions to his house, said he'd put the guitar out on the woodstack, and if he liked it, just leave a check for $100 under the door. The guitar player pulls up later that night to find a mint condition 1963 Fender Telecaster in the original case sitting on the woodstack. He slipped the $100 under the door and sped home.

straight-a

Jun-15-2004, 1:47pm

Back in the early sixties, my dad was playing music and when he was loading up to leave, he found a J-45 Gibson in his back seat. He and my uncle went around trying to find the owner but no one claimed it. I still have it, in fact, I learned to play on it. It's an early forties model.

johnwilson

Jun-15-2004, 2:31pm

Living in New Mexico a while back a friend salvaged 000-28 in near mint shape from a pawn shop for $70. I gladly paid him $700. I do wonder where it had been since 1934!

f5joe

Jun-15-2004, 2:37pm

I have a Loar under my bed. I look at it occasionally. It's a beautiful picture. http://www.mandolincafe.net/iB_html/non-cgi/emoticons/wow.gif

KenR

Jun-15-2004, 3:50pm

I brought a collectible shotgun to an auctioneer acquaintance who was interested in buying it. He was preparing for an auction in his barn at the time. Across the room I saw a mandolin case with a "bump" sitting on a desk. I flew across the room and found a 1922 Gibson F4. Sold the gun and bought the F4 for $1800. Also found a 1914 Gibson L-1 at a flea market. Might as well mention the Pollman banjo mandoline in mint condition at an antique show. Off subject but still interesting is the antique fishing reel I bought at a flea market for $150 and later sold for $5000. Only in America. By the way, had to sell most of the above to buy my new Gilchrist! - Ken

Rroyd

Jun-15-2004, 3:58pm

I picked up a 1934 PB 3 flathead b***jo some years back from the original owner, who wanted $110 and a ride to the local bar for payment. The neck had broken off at the heel, and had been reattached with two giant screws, right down through the fingerboard. Since I wanted to convert it to an RB, the neck was no big deal. I guess that was my good buy.

sbarnes

Jun-15-2004, 5:28pm

might as well chime in w/my bargain story.....although not mando:
bought a late 50's/early 60's (still don't know for sure - gotta check that serial #) gibson hummingbird w/hardshell case for $50 - out of the newspaper want ads.....
almost didn't call but did and asked is this a real gibson or some knock off - the owner said well i don't know nothing 'bout gui-tars but it says gibson on it....
last $50 i had but i've still got it too.....

Jim Garber

Jun-15-2004, 5:42pm

Well... so far, no Loars in any of these stories...

I guess the way it all works for me is that, yes, I get the bargains at times because I am [I]always[/I looking. On the other hand, I have also paid full price, retail even for those instruments I lusted after and had to have there and then. Of course, after a few years even that high price seemed to be a bargain. Hey, you can't really lose, sort of...

Jim

rhetoric

Jun-15-2004, 6:08pm

I bought a small, beautifully ornate, chestnut, fully operational pump organ at an auction tonite for 10 American dollars! Cool!

CF5

Jun-15-2004, 6:13pm

I have a couple of "finds" that I've been the lucky one on. I found a 1941 Gibson F5 in a pawn
shop just after I got interested in the mandolin. The way the guy in the shop jumped at my
offer of $600.oo I was kicking myself for not offering less,and although it's not a Loar I'm not
complaining. It's an incredibly wonderful sounding and playing mandolin and I've had it up against some of the finest around.
The other one I found as a wall hanging in someone's home. It's a fine 1916 Gibson F4. She'd got it at a garage sale years earlier for $1.00 . It had been in her kid's toy box for years and although it was a little marked up, with a little work from my neighbourhood luthier, it's turned into a wonderful player and a thing of beauty. She knew it wasn't junk, but nobody played, and that's the way it stayed until I gave her $250.00 and an old bowl back that I had kicking around for it.
I figure I've used up pretty much all the mando luck one person is allowed in this life. I have quite a few other mandos as well, but these all came to me by the normal means ($$$$$$$) The F5 is far and away my favorite and the one I mainly use.

mandoJeremy

Jun-15-2004, 6:16pm

I recently purchased a 92 American Strat for $85.00 from a thrift store and sold it on Ebay for $560.00. Also helped a lady sell her 1932 L-00 that she had bought in a thrift store last year for $25.00 with the original case. It was in mint condition! I sold it for her to a friend for $1,000.00 and he sold it for $1,700.00. I also got a $100.00 finders fee just for walking up the street. I really wanted the guitar but the poor musician's disease had settled in.

Rroyd

Jun-15-2004, 11:43pm

Well, there is the one Loar acquision that took place after a Hammond organ sales rep commented to a Northwest music store manager who was polishing the finish on a new guitar before putting it on display that he had a "funny looking little instrument" at home in his closet that had a finish just like that of the new guitar. #It had belonged to his mother-in-law, and he didn't know anything about it. #They decided that it was some sort of F-style mandolin from his description, and the store manager mentioned Lloyd Loar's name because of his interest in L5 guitars.
In a few days the manager received a call from the sales rep, who had remembered their conversation and had looked at the instrument in his closet after returning to his Bay Area home, and saw the signed label with the aforementioned name. #He had it appraised, and was told that it was worth $800-$1000, as at the time a new one was $695. #He ended up selling it several months later for the lesser amount to an aquaintance of the music store manager, who had an F4 on approval that a hobbyist had less than perfectly converted to an F5. # When the store manager saw the conversion, he said it was an OK instrument, but that he knew where there was a better one that might be available. # Turned out that he was right on both counts. #When the sales rep met the buyer, he commented that his mother-in-law had owned a matched pair, and that the other one was with another family member in Ohio. #The instrument was in mint original condition, and #the original hanging price tag was still in the case. #The purchaser regretted in later years that he had not tried to arrange to purchase the other instrument, or at least made an attempt to find out just what and where the other one was. #But then there's that 20/20 hindsight. #Anyway, not a real bargain at the time, but then there has been that appreciation over the years.

levin4now

Jun-16-2004, 5:18am

This topic has been bandied about before and someone described their experience doing some work (carpentry? electric? plumbing? in a guy's house. They discussed music and the homeowner offered him his old Gibson A real cheap.

Nothing like hearing a second hand story told vaguely is there? http://www.mandolincafe.net/iB_html/non-cgi/emoticons/smile.gif

John Rosett

Jun-16-2004, 6:54am

when i lived in olympia, wa in the 80's, i really plundered this one pawn shop. in one year, i bought a 50's danelectro guitar ($10), a 60's fender mustang bass ($25), and a '63 epiphone rivera ($100). that same year, i bought a 1932 dobro for $80 at a yard sale.
on the downside, i bought an old fiddle at a junk store for $5. there were two bows in the case. i traded one to a friend for a set of mando strings and ten bucks. he took it to a violin shop in seattle where they gave him $2500 for it.
john

Darryl Wolfe

Jun-16-2004, 7:05am

It's pretty hard to top Tut Taylor's story about the Griffith A5 and F5. Long story, but essentially he got the 2 Loar instruments and all kinds of old Gibson catalogs and pictures from the decendants of Wm Griffith's Atlanta School of Music. These finds used to be fairly easy by tracking down the whereabouts of people depicted in the old Gibson catalogs

mandowannabe

Jun-16-2004, 10:55am

About 9 years ago I was visiting my brother in Atlanta and I told him I was looking for a mandolin. #He asked me what they looked like and I described the two basic shapes and promptly forgot about it thinking he would never recognize a good one if he saw it. #A few days after returning to Arkansas where I live, I recieved a call from my brother and he said, "I found you a mandolin." #I asked what kind and he said "its got The Gibson written on it." #The hear on my neck stood up and I asked about the shape. #He described an A model shape and told me the condition. #To make a long story short, It wsas a 23 "snake head" Gibson that he had bought at an estate sale for $175.00. #He shipped it to me the next week and I have treasured it since. #It is just as sweet as everyone says. #What a brother to pass up making a killing on the find. #G.B.

Rroyd

Jun-16-2004, 10:54pm

Hopefully the newer edited version won't seem so vague. http://www.mandolincafe.net/iB_html/non-cgi/emoticons/biggrin.gif

owardlaw

Mar-31-2017, 12:57pm

A loar was just found at the san jose flea market! And is being sold at a local music shop for $200,000.

mrmando

Mar-31-2017, 1:04pm

OK. Does the local music shop have a name? Does it have a website? How'd you find out about this? Any news articles you can share?

I think the days of anyone paying $200K for a Loar are behind us. Not to say that they won't come around again, but that number simply doesn't reflect the current market.

If you Google "mandolin san jose flea market," the most interesting thing you'll find is this:

http://www.retroist.com/2014/01/16/flea-market-finds-the-space-case/

Jeff Mando

Mar-31-2017, 1:16pm

If you found one at a flea market, you could "wholesale" it for $100K and still come out just fine..............:cool:

FLATROCK HILL

Mar-31-2017, 1:19pm

First thought (of course): I wonder if this is the one Spruce eluded to in another thread.

Second thought: I'll bet owardlaw means that it is for sale at that price. Not that it is actually being sold at that price.

After that, I'm pretty much thoughtless.

Tobin

Mar-31-2017, 1:21pm

First thought: I wonder if this is the one Spruce eluded to in another thread.

Has to be. There's no way two of them were recently found at flea markets. No way, San Jose!

FLATROCK HILL

Mar-31-2017, 1:24pm

No way, San Jose!

Good one!

Mandolin Cafe

Mar-31-2017, 1:26pm

I heard this story awhile back. Don't believe it. I think it's an urban legend that a lot of you bought into.

But if it is true and we can prove it, I'd *love* to out the person that bought it unless they paid fair price.

EDIT: yes, we'd out someone just for being idiot enough to admit they screwed someone. Just because it's a flea market doesn't mean it's not an honest owned business. Your mileage may vary, perfectly aware some of you would do the same. There's right and wrong. I'm totally comfortable with what is right.

Mike Stewart

Mar-31-2017, 1:26pm

A loar was just found at the san jose flea market! And is being sold at a local music shop for $200,000.

Link or it didn't happen. Because Google seems to know nothing about it.

MontanaMatt

Mar-31-2017, 1:27pm

I had a student decide he didn't like the sound of his fiddle. It was too dark and throaty for his taste. He had acquired it for free from an abandoned storage unit find. He gave it to me in trade for 10 lessons. It's 1887 from San Francisco, and ultra awesome. I tried to talk him out of it, but he insisted. It's my favorite of my collection, and only one I can play now.

mrmando

Mar-31-2017, 1:36pm

First thought (of course): I wonder if this is the one Spruce eluded to in another thread.

Here's that other thread. Spruce usually knows what he's talking about.
https://www.mandolincafe.com/forum/showthread.php?130965-Anyone-know-the-history-of-Loar-price-changes

FLATROCK HILL

Mar-31-2017, 1:42pm

I heard this story awhile back. Don't believe it. I think it's an urban legend that a lot of you bought into...

...Spruce usually knows what he's talking about.

:popcorn:

mrmando

Mar-31-2017, 1:47pm

But if it is true and we can prove it, I'd *love* to out the person that bought it unless they paid fair price.

Well, I guess that guarantees we won't hear from the buyer. But I hope we can at least find out which guitar shop is selling it.

In the San Jose area, Gryphon would be the logical choice, but there is no Loar listed on the Gryphon website.

MikeEdgerton

Mar-31-2017, 1:50pm

https://www.mandolincafe.com/forum/showthread.php?130965-Anyone-know-the-history-of-Loar-price-changes&p=1563159&viewfull=1#post1563159

Now I'm curious. I must not hang at the right flea markets.

FLATROCK HILL

Mar-31-2017, 1:54pm

NursingDaBlues

Mar-31-2017, 2:05pm

The only LL at Steve Swan Guitars indicates that it is sold; don't know when or for how much.

http://www.steveswanguitars.com/guitars/mandolin-family/

FLATROCK HILL

Mar-31-2017, 2:12pm

The only LL at Steve Swan Guitars indicates that is sold; don't when or for how much.

http://www.steveswanguitars.com/guitars/mandolin-family/

That's the 'Schultz Loar' I think. Probably not the 'Flea Market Loar'.

mrmando

Mar-31-2017, 2:16pm

The only LL at Steve Swan Guitars indicates that is sold; don't when or for how much.
http://www.steveswanguitars.com/guitars/mandolin-family/
76547 is the "Schultz Loar"; it's from here in the Pacific Northwest. No one sold it at a flea market. The original owners' heirs did their homework and got in touch with knowledgeable experts, including Scott here at the Cafe. I'm sure they got a fair price for it.

bennyb

Mar-31-2017, 2:27pm

Hmmm, well it's April 1 on the other side of the timeline

Mandolin Cafe

Mar-31-2017, 2:35pm

76547 is the "Schultz Loar"; it's from here in the Pacific Northwest. No one sold it at a flea market. The original owners' heirs did their homework and got in touch with knowledgeable experts, including Scott here at the Cafe. I'm sure they got a fair price for it.

Actually, when Jack contacted me a long, long time ago--I still have the email--I told him he needed to call me and be sitting down when we talked. He really didn't know much about what it was worth, only that it was apparently more than he'd known for the years it had been in his possession. There's a whole lot more to this story. Too bad, I'm probably not going to share the whole story about it and the guy that bought it will appreciate that.

Mandolin Cafe

Mar-31-2017, 2:38pm

Spruce

Mar-31-2017, 3:00pm

Link or it didn't happen. Because Google seems to know nothing about it.

Well, I guess it didn't happen... ;)

:popcorn:

FLATROCK HILL

Mar-31-2017, 3:00pm

And I do know who the buyer/seller of the supposed flea market Loar is. Sorry, if I wanted to name them I would. I asked the person that contacted me awhile back if they had any proof. They didn't. Sorry that some of you are bothered by my opinion. God forbid, an opinion on the internet.

Hey Scott, I'm not bothered by your opinion. I'm just curious as to what price would have been fair, assuming that this scenario actually took place. Should the buyer have paid the seller enough so that he/she could reasonably expect to make a 50% profit in the eventual sale? 25%? 10%? And unless the buyer has a pretty deep pool of funds from which to dip, that 'fair price' paid to the seller would have to wait until the (eventual current market) sale. There are a lot of things to consider here before throwing stones.

Reading your last few posts, it seems obvious that you know some facts about this matter that the rest of us don't know. Maybe you have good reasons for thinking the buyer should be "outed"; reasons that I'm not aware of.

In any case, whatever your opinion, I'm not picturing you sitting at your desk with a handful of ball bearings..."Ahh but the strawberries. That's where I had them."

Tobin

Mar-31-2017, 3:06pm

So who gets to make the judgement as to "fair price"?

Fair price is whatever the seller is willing to take for it, and that has been the rule for thousands of years - quite literally since the invention of money. A buyer has no obligation, legal,ethical, moral, or otherwise, to educate the seller on market value if the seller has opted not to bother to find out for himself.

It would be one thing if the seller already had an idea about market value based on condition and the seller tried to deceive him somehow (like by telling him it's a fake or exaggerating the devaluation for condition). Con artistry, or fleecing the proverbial old lady is indeed reprehensible. But if the seller doesn't know that what he has is valuable and has offered to sell it at a price he is comfortable with, I don't see any moral impetus to botch the deal by telling him it is valuable. If that were the case, anybody who ever got a below-market "deal" on something would be immoral. And that would be ridiculous. Whether the difference is $10 or $150,000 doesn't change the morality aspect of it.

Now that's not to say that empathy for a fellow human being doesn't come into play. It is certainly admirable to refuse to take advantage of a seller's ignorance, and to help him out by telling him what he really has, especially if it's obvious that it would be life-changing for him. I'd like to think that most of us would do that. But if the buyer chose to go ahead and pay the seller what he was asking, with both parties walking away happy over it, I wouldn't see it as cause for public shaming.

Spruce

Mar-31-2017, 3:09pm

But if the buyer chose to go ahead and pay the seller what he was asking, with both parties walking away happy over it, I wouldn't see it as cause for public shaming.

Especially if both parties didn't have a clue what kind of ukulele it was... ;)

Willie Poole

Mar-31-2017, 3:47pm

I have a feeling that we will get an April Fools post here some time tomorrow....

Willie

Mandolin Cafe

Mar-31-2017, 5:41pm

Lets see. Is this all correct so far?

- We don't have a serial number for the Loar
- We don't know if it's documented or not
- We are discussing something that has only been rumored
- We don't know the flea market in question
- The seller is some unnamed store representing someone no one knows
- Even my name is heresay with no proof
- It's all based on something someone claimed on the internet, which of course, makes it true

And some of you wish to debate it all. Good luck with that. I have better things to do than waste my time. If someone wants to prove all this, it'll certainly be of interest then. I read an email, received some information, asked for proof and got none.

Jeff Mando

Apr-01-2017, 7:43am

I'm guessing at the gold forum they probably ask, "has anyone ever found a bucket of gold coins at a yard sale?" :disbelief:

OTOH, rare vintage cars are found in barns untouched for years on a fairly regular basis. And, of course, is great human interest and makes news in old car circles.....:cool:

NursingDaBlues

Apr-01-2017, 9:50am

I guess I'm stuck on "fair price." IMHO a fair price is always between the buyer and seller. But there are always two sides to a story. If such a tale were true, then I guess several scenarios are possible.

1. If it was a photograph of a LL, the buyer got fleeced. If it was a photo signed by Lloyd Loar and Bill Monroe and the photo was nicely framed, then maybe it was a good deal.

2. If it was an actual instrument and neither the buyer nor the seller knew anything about what it was, then whatever price was struck was a good price if both went away satisfied.

3. Let's say it was an actual LL and both the buyer and seller knew it. Let's also say the seller was desperate for money. You can't buy food or pay the mortgage with something that has a value of X dollars. And these days LL's aren't immediate sellers at whatever perceived value one may place on it. And who knows what other unsuccessful sales avenues the seller may have attempted. If the seller needed money and decided that was the amount he/she could live with, then so be it.

4. Then maybe the seller didn't know what he/she had but the buyer did. Is it incumbent on the buyer to educate the seller? This is a tough one, but I believe that most forum members would try. Of course there are a lot of people out there who would keep mum and grab it, if not try to fleece a few more dollars off. But once again if the seller is satisfied then who are we to say otherwise?

5. If it was an unhappy wife getting back at a husband for whatever reason by selling off items that he prized "over her" then all's fair in love and war.

YMMV