Great Opportunity, Need Advice

[Jeff Mando]

duplicate post

[allenhopkins]

...It's def. not a Loar.

But it is a pretty nice Gibson A, in apparent good shape with the original case. It truly is a "great opportunity," and you're under no obligation to pay "dealer price" for it. If the owner sold it to a dealer, he/she would get wholesale price, and the dealer would mark it up and sell it at retail; no chicanery there, that's what dealers do, how they stay in business.

So if you offer "wholesale price," or significantly less than the, say, $1.4K or so a dealer might list it at, you're not insulting or cheating the owners. And, the owners, in a way, approached you, asked about a price, indicated a willingness to sell.

I would be candid, find some other A's being listed and their prices, and discuss with the owners what price they might expect; perhaps they could sell the mandolin privately for "retail," but that would involve listing it somewhere, being available to show it, negotiating with potential buyers. You already have a personal connection with the owners.

I would say, "Mandolins like this are being listed for $X-$1.5X; I'm willing to give you $0.7X, contingent on the instrument's passing a pro inspection." Perhaps then, some negotiation, maybe a deal.

An instrument like this -- again, assuming structural soundness and playability -- is too nice to pass up, IMHO. Opportunities like this don't come along too often; carpe diem, I say.

[Capt. E]

If you can get it for under 1K, you have done well.

[fatt-dad]

did you ask her what she wants for it? I'd agree that it's a $1K instrument, maybe $1,500 at a shop or consignment sale? If she really doesn't have any idea, I'd offer her $700 bucks and see what she thinks. She may say, "That's a lot!" Maybe even come off that if she really wants to see it in church making music again? Who knows. I'd also agree not to bite on a number like $200 bucks, 'cause that's too low. If the tuners don't work so well, it's an easy fix to just buy Stew-Mac restoration tuners for an easy swap. The wide neck makes these pretty stable even without the adjustable truss rod. My A3 has been very stable over the 30 years I've owned it.

I love the Thomastik heavy strings on my A3, but used J-74s also.

Good luck and enjoy these wonderful instruments!

f-d

[Timbofood]

fatt-dad is making a very reasonable point, too low and the seller who knows little about this (admittedly) will end up feeling short ended. See what she thinks is fair after you offer her some of the thoughts here. $1400, seems the top end, $700 the bottom. I'd offer $850-$900 see what her reaction is. Just a suggestion.
Kind of an echo of Allen's concept.
Be reasonable and as fair as you can afford.

[pops1]

Wonder what happened? If he got it. No need to know the price, just wondering.

[MandolinCat]

Hi! I'm back and Pops1, I'll tell you what happened! I took the mandolin down to a shop I know that deals heavily in vintage instruments. He took one look at it and told me (before I opened the case) "Oh, you've got a Gibson there." So--original case, all original parts, perfect condition. He said in his shop he would not list it for less than $1800, which he admitted was very high for a deal between friends. He felt like a fair price between friends would be around $1300 because of the fact that it essentially needs no work done except maybe a setup. I was prepared to offer as high as $1100, and I have talked frankly with the family (who I love and trust completely so I'm not worried about anyone cheating here) and told them I'd think about it. I want right of first refusal and may purchase it this summer. That's a chunk of change for a stay at home mom to purchase something that I simply want and don't need. I do think it would be a really fun collector's item, but I think an instrument should be played. A ton. Don't know if I would. Then there's this: I'd like to save my pennies for a brand-new weber octave. Hmmm...what to do?

[T.D.Nydn]

if you really want it, but don't need it,,it is a case of the MAS "I wants"...will you actually play it? Save your money for what you really want....

[pops1]

Seeing as you are close to the family maybe they would let you make payments so it's not such a hard hit all at once. Good luck.

[JeffD]

I'm sorry, but the history and memories of the instrument are non-transferable. Even if they don't want it, they do. I mean, unless they really need the money. It's a family heirloom. Crap, I hate to sound like such a, I don't know, sentimentalist or whatever. Must be the cabin fever.

If you decide to buy it, see if the seller can find a picture of his grandfather playing it, that you can copy and keep in the case, to stay with the instrument.

[Jeff Mando]

That vintage shop didn't do you any favors with that estimate. True, many shops will consign an instrument at a high price and "wait for the right buyer" but I think the values given here by the Cafe members are more accurate as to what things actually sell for, such as eBay's Completed Items. $700-900 is retail, and I'm not fond of paying retail. It's not really rare, many of these were made. I guess if it is the nicest one in the world, perfectly mint, and it does have a pedigree.....maybe $1100-1300 isn't ridiculous, but it is high. My point being, if you want to pay full retail -- you can shop anywhere and have your choice of many old Gibsons. The beauty of the situation you're in is that you have no competition and should be able to get it well UNDER the going rate. Just my 2 cents, based on years of horse trading........

[allenhopkins]

...I took the mandolin down to a shop I know that deals heavily in vintage instruments...He said in his shop he would not list it for less than $1800...He felt like a fair price between friends would be around $1300 because of the fact that it essentially needs no work done except maybe a setup...Hmmm...what to do?

Remind me never to shop at that dealer! I'd say $1.8K is way beyond what I'd pay for a Gibson A in good condition. The lower "between friends" price he quoted, is close to the top of what I'd expect to pay. For example look at these prices at Carter Vintage Guitars, a place no one has described as a "discount" dealer.

Your $1.1K price was eminently fair. As to whether you should buy it -- if you're not sure you're going to play it -- that's up to you. You will have a good trade-in to offer if you do buy the Gibson, however.

[Ken Waltham]

That vintage shop didn't do you any favors with that estimate. True, many shops will consign an instrument at a high price and "wait for the right buyer" but I think the values given here by the Cafe members are more accurate as to what things actually sell for, such as eBay's Completed Items. $700-900 is retail, and I'm not fond of paying retail. It's not really rare, many of these were made. I guess if it is the nicest one in the world, perfectly mint, and it does have a pedigree.....maybe $1100-1300 isn't ridiculous, but it is high. My point being, if you want to pay full retail -- you can shop anywhere and have your choice of many old Gibsons. The beauty of the situation you're in is that you have no competition and should be able to get it well UNDER the going rate. Just my 2 cents, based on years of horse trading........

Yep, what Jeff says. $700.00 and you should keep it and play it. It will be a wonderful mandolin.