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Thread: Loar LM-520...Is this a good price?

  1. #1
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    Default Loar LM-520...Is this a good price?

    Had a Loar LM-520 come up in my local pawn shop. Looks in good shape. They offered $375 plus a Guardian case.

    Is this a good buy assuming nothing is wrong with the instrument?

    Thanks all! Just started playing so still learning.

  2. #2
    Registered User Willem's Avatar
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    Default Re: Loar LM-520...Is this a good price?

    That is a decent price assuming it is in good shape; even better considering the case. They go for $600 new, so you are about 60% of that. I would just make sure it is set up.

  3. #3
    Play on FredK's Avatar
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    Default Re: Loar LM-520...Is this a good price?

    Agreed that $375 is a good price if there's nothing wrong with it. TMS, a Cafe sponsor, has them listed new at $599 which is a good price. I got one about 2 years ago from them, set up very well, and enjoyed it ever since.
    Last edited by FredK; Jan-22-2019 at 5:12pm. Reason: corrected typo
    "If your memories exceed your dreams, you have begun to die." - Anonymous

  4. #4

    Default Re: Loar LM-520...Is this a good price?

    Assuming no issues, that is a good price.
    Robert Fear
    http://www.folkmusician.com

    "Education is when you read the fine print; experience is what you get when you don't.
    " - Pete Seeger

  5. #5

    Default Re: Loar LM-520...Is this a good price?

    Good price.

    $599 for the mando.
    $50-$100 for a case.
    $100-$150 for a good setup.

    If the mandolin is setup (and it likely is for that model) then you're set.

    Just keep in mind, might want to run a long look over the whole mandolin. A number of damage points can be hidden until examined closely.

  6. #6

    Default Re: Loar LM-520...Is this a good price?

    Pawn shop, you say???? 50 or so years ago when I was a teenager, I told my grandfather about a guitar I saw at a pawn shop for such and such price. He said, the old "pawn shop tradition" or superstition was that they had to make a sale with the first person who walked in the door on Monday morning or the whole week would be jinxed -- the implication being they would take a ridiculously low offer and be fine with it. Anyway, it worked.....and I always keep that in mind when pawn shopping!

    FWIW, I just checked eBay's completed sales for a Loar 520 and several have sold in the past month for $250-350.......you might print that page and have it in your back pocket when you make your $250 offer next Monday. And, again FWIW, the "old school" pawn shops still like cash over credit card purchases....and if you're really a good negotiator you might get them to "throw in the tax." Keep in mind the pawn shop has ZERO sentimental attachment to the mandolin, its sale only represents a way for them to get back the cash they loaned out on a defaulted loan. I guarantee at $250 they are still making money.....

    Good luck!

  7. #7
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    Default Re: Loar LM-520...Is this a good price?

    Thanks to all for advice. I popped on the 520. Took it to my mando teacher and he said it looked fine. And that even with setup and such I'm money ahead The price was decent so I can't complain.

    A $50 set up and a $75 scallop on the tongue and we will good to go. Gives me something to learn on and play for a long while.

    Even with the old strings it has a good sound. I'm quite pleased.

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