An Aging Mando Hoarder - When to sell?

[MandoHog]

What do you do with your mandos when none of your children care about them? When is the right time to cash in on the mandolins that you have collected as an investment (if ever)? Read the musings of "An Aging Mando Hoarder" at our new blog post here: www.roundmountainsounds.com/blog

[JeffD]

If I sell my mandolins I will make more money than it cost to buy them, and I will make a whole lot less money than if I had invested that amount even not so aggressively.

As you describe, my family has little (as in no) interest in my mandolins.

So what I have decided is to just enjoy the potatoes out of them until I can't anymore, and then sell them on the café classifieds (or its future incarnation). If there is even one potato left to enjoy, I will keep them and enjoy it.

[f5joe]

My friend died within a week of a serious illness diagnosis. He left tons of instruments for the estate to liquidate. It is NOT a pretty sight nor a lot of fun to deal with.

I have a few nice mandos. My wife/children know their value and where/who to trust to sell them.

[MikeEdgerton]

Interesting question. I have a friend who had a boyfriend that passed away after a long illness. He left her a 60's Gibson SG and amp and told her it was worth about 10 times what it actually was. He told her to take it to. She didn't get a number offered anywhere near what the late boyfriend said it was worth. I got pictures and shopped it to some of the larger vintage dealers and got her what the real value was. I didn't want to or offer to buy it, I just gave her the letters with the information on them. She held it for a few years and has finally decided to sell it to somebody I know not who. If you're going to tell your family what your instruments are worth make sure the number is realistic. We all tend to over value things.

[Jeff Mando]

Another option--my friend was buried with his electric guitar, right there with him in the casket--so, you CAN take 'em with you!

[OldGus]

Get a new family... life is about loss, but we move on. Get out of Arkansas and never go back...

[Upis Land]

I think you answered your question in your blog. Grandkids, great grandkids, nieces, nephews. Even if the kids don't seem to care about the mandolins now, perhaps they will treasure them as memories enough to keep them around until the mandolin playing heir becomes apparent. These things often skip a generation.

[allenhopkins]

I have what some might consider an obscene number of acoustic instruments. Now I'm well into my seventies (well, over a year), and my plan is, when I find I can no longer play at an acceptable level, and am no longer getting the same enjoyment out of my collection -- to offer my two sons their pick of whatever they'd like to have, which will probably be fewer than a dozen instruments.

The rest will be offered for sale through a couple of local guys -- Dave Stutzman and John Bernunzio -- with whom I've dealt over the years, and who know the vintage market and have enough contacts to get my "horde" out to interested musicians and collectors. Then all these wonderful instruments will get played by a new generation of pickers, and will continue to give pleasure to musicians and listeners -- for generations after my passing, I hope.

Hey, if I'm still on the Cafe´when that occurs, I'll give a heads-up to anyone who might be interested. There are too many, and too big a variety (from Autoharps to zithers, and many stops in between!) for me to sell 'em myself.

[Jeff Mando]

As far as price goes, and we've discussed this before, it takes a LONG time to sell a collection of instruments for top retail prices. Months, if not years. A broker selling these for your family will take 20-30 percent for their efforts. The other option is to "wholesale" them to a broker or store as a group, again for less than you probably paid for them, the potential profit being the motivation for someone to buy them all as a collection.

I mention this to help somebody who is not in the "biz", such as a widow. We've seen this on eBay, the widow remembers her husband paid $5000 for it and she wants $5000 and she won't take a penny less....in the real world, it doesn't usually work that way. At least in my experience. (unless it is a Gil he bought back in 1988)

[Ellen T]

I just have one low-price but nice mandolin (Kentucky KM-150), so there is no financial consideration. If no one in my family wants it, I want it given away to some kid who is interested in music but can't afford to buy an instrument.

[GreenMTBoy]

For my small collection ,only a half dozen instruments I have left a bill of sale in the case compartment for in the event I die suddenly .
I trust my wife and or sons can figure out what to do with them . In this day and age you can find the value of most everything pretty quickly by google or ebay searches.
The right time to cash them in is when you need the money .

[Willie Poole]

I am like Allen, When I can no longer play where I enjoy it I will put them up for sale on consignment OR set up a stand at a bluegrass festival and try selling them like that....I do have one that I will never sell and it will be passed down to my family members for ages, I guess one day it will be sold but not by me...

As far as dieing with all of the still around who cares what will become of them? It just won`t matter...

[red7flag]

When I stop playing an instrument, I will look into selling it. Before I contact any dealer, I will check the classified for the price of like instruments. Then, I will call a dealer that I respect like Walter Carter and get their opinion. They will usually base the price on past sales of similar instruments and the condition of the instrument being sold. Remember that they will take a commission fee, but often can get more than I would selling myself. For me personally, selling instruments is a very frustrating process, so I prefer going the consignment method.

[Isaac Revard]

Another option--my friend was buried with his electric guitar, right there with him in the casket--so, you CAN take 'em with you!

I think is is a great idea. Another one might be to give them away to young mandolin artists who couldn't afford a nice instrument otherwise? Might get the snot played out of them for a few more decades?

[Austin Bob]

I'm only 60, and if it weren't for tinnitus, I feel I could play for a good while longer. But none of us really knows how much longer we have left, and we should all make plans.

My wishes are for one of my prized mandos to go to a musical mentor of mine, who is younger and hopefully will be able to enjoy it for a while.

I've named a couple of other musician friends whom I trust to advise my wife in the disposal of the rest.

But in reality, instruments are really no different than any of the rest of the stuff we accumulate throughout the years. It's only worth what someone is willing to pay at the time it is offered for sale. Sentimental value means nothing, as does actual price paid.

[Paul Busman]

If you're not playing them, sell 'em. Someone should be playing them, rather than having them sit around in their cases.