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Thread: $270,000 Loyd Loar on Facebook markeplace

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    Registered User jim simpson's Avatar
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    Default $270,000 Loyd Loar on Facebook markeplace

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    Default Re: $270,000 Loyd Loar on Facebook markeplace

    Condition: Used, like new.

    Doesn't this seem a little like trying to sell a house, at full price or with a substantial markup, at a yard sale?

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    Default Re: $270,000 Loyd Loar on Facebook markeplace

    Quote Originally Posted by Marty Jacobson View Post
    Condition: Used, like new.

    Doesn't this seem a little like trying to sell a house, at full price or with a substantial markup, at a yard sale?

    And it's signed and dated 1924 but made in 22? Really?
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    Registered User William Smith's Avatar
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    Default Re: $270,000 Loyd Loar on Facebook markeplace

    That price is just so wrong! In my opinion anyway. Sorry to say that'll NOT sell. I'm really thinking I paid a great price for my Dec.1st 24 Loar with Virzi after seeing that price, heck check out the price drop on them at Gruhn's?

  5. #5

    Default Re: $270,000 Loyd Loar on Facebook markeplace

    It might be a certain strategy on the part of the seller. Who knows? Rather than try to market it at conventional vintage dealers and such -- he might be trying to attract a buyer (with a lot of money!) who is not part of that world, but might know that Loars are played by famous people, etc. Much in the same way that Sotheby's can get more than market by selling to there own select clientele. In fact, I have a collector friend, who often buys at auction houses because he believes he can trust the provenance and that the items he buys are "vetted" and therefore better. He also doesn't mind paying $5,000 for a $2700 guitar. Not sure if Facebook is the best place to market a Loar, but they get a lot of views.

    On a smaller scale, I have used a similar marketing technique to sell stuff on eBay to get better than market price even on common items. Let's say you have a used made in Mexico Fender Strat for sale -- you will probably find 300 of them for sale today at $300-350. I'll list mine as a "Cool Mississippi Juke Joint Blues Guitar Found In A Pawn Shop!" I'll put mine up for $450 or $500 and sell it. I won't even put Fender Strat in the title. Just a strategy to make mine stand out from the competition.

    Who knows? It might work!

    I've always said that "select" Loars and Les Pauls Bursts are be being sold on private markets independent of "known markets and the going rate." I asked one well-known vintage dealer if he thought a Les Paul would ever bring a million dollars? He replied, "what makes you think it hasn't already happened?"

    Food for thought.....

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    MandoHog MandoHog's Avatar
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    Default Re: $270,000 Loyd Loar on Facebook markeplace

    I agree, it is a healthy over price....unless they it includes that snappy afghan in the deal.

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    Default Re: $270,000 Loyd Loar on Facebook markeplace

    ”Gold tailpiece and tuners”. Well, there’s the explanation right there! It’s one of those ultra rare versions not only hand made by good old Lloyd himself, but also has the super ultra rare SOLID gold hardware!

    Note: Price FIRM. Sheesh. In light of that I don’t think Jeff’s theory about “select clientele” holds water. Unless he’s trying to sell it in Japan. The Japanese are nuts about vintage American made instruments. Have you ever noticed that they routinely are billing to pay up to twice market value, or even more, for vintage Strats and Les Pauls? Of course, it seems like if that’s the seller’s plan, there’s a better way to do it than Facebook Marketplace.
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    Default Re: $270,000 Loyd Loar on Facebook markeplace

    Remember- there were only 8 to 12 made.

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    Registered User William Smith's Avatar
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    Default Re: $270,000 Loyd Loar on Facebook markeplace

    I don't know anyone that's paying 200+ for a Loar, maybe if it was an artist owned Loar but prices sure are not what they were 10 years ago or so, on vintage F-5's and old Gibson mando's in general seem to be down, I'm not up on my vintage guitars like I was but are people dropping the big bucks say on a 37 D-28 bone or pre-war D-18's etc... There are so many great builders now that with the choices most younger players will go for that over a Loar because the sound is there and for a fraction of the cost for a Loar. I think anymore with old F-5's its a small niche market? But if they go too low in price they'll be snapped up then the prices will go up again?

  11. #10

    Default Re: $270,000 Loyd Loar on Facebook markeplace

    Maybe I'm giving a guy who managed to get his hands on a Loar too much credit for thinking of a clever way to market it. Playing "dumb" might be such a strategy?

    Or, maybe he doesn't need the money and is just testing the waters -- "if I can get such and such, I might let it go.........?"

    OTOH, if he were asking too little, nobody would criticize the seller -- they would simply buy it!

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    Default Re: $270,000 Loyd Loar on Facebook markeplace

    It is a fern Loar....... not many of those. Still doesn't add up.

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    Default Re: $270,000 Loyd Loar on Facebook markeplace

    Quote Originally Posted by SternART View Post
    It is a fern Loar....... not many of those.
    perhaps only 8 to 12 made?

  14. #13

    Default Re: $270,000 Loyd Loar on Facebook markeplace

    Maybe the person's spouse told them they needed to sell it.

    The reply might have been, "Ok honey, I'll put it up for sale right now," but cleverly without any discussion of what a proper selling price would be.

    Sometimes things are overpriced because the seller really doesn't want anyone to buy the item.

    I've known numerous people who employ that type of strategy with various collectibles including classic cars, for instance.

    That way, if confronted about their ever-growing collection, they can say, "Well I've had this item up for sale for a year now, but most people don't have the money to buy high-quality stuff anymore, so we'll just have to wait for the right buyer to come along and it will sell eventually."

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    Mando-Accumulator Jim Garber's Avatar
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    Default Re: $270,000 Loyd Loar on Facebook markeplace

    I am not sure that anyone ever paid that high a price even at the peak. Is that true? Did one sell at auction for over $250,000?
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    Registered User John Rosett's Avatar
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    Default Re: $270,000 Loyd Loar on Facebook markeplace

    It's listed in the mandolin archive, #76546.
    "it's not in bad taste, if it's funny" - john waters

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    Registered User Timbofood's Avatar
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    Default Re: $270,000 Loyd Loar on Facebook markeplace

    I smell something funny...
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    Registered User William Smith's Avatar
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    Default Re: $270,000 Loyd Loar on Facebook markeplace

    I'm sure when prices were up some people paid 200-250K, actually I know of a few that paid high prices, I believe Chris Thile paid that and when I picked up my Loar I was talking to the owner of a shop that has a nice 23 for sale but its priced high as he told me the owner was into it real deep. One I was looking at was at 200K and not much wiggle room as the seller also said he was in pretty deep, and I wasn't going to go that high for one well financially I couldn't as I didn't want no debt. I think if one has the $ and wants the Loar they want they can and will pay a high price. I think it comes down to the individual and something is only worth what someone will pay for it. I'm sure with any of them they may say they want, say 150-200+ but with $/check/transfer in hand they'll go down in price substantially if they need to sell for whatever reason....Happy picking.

  20. #18

    Default Re: $270,000 Loyd Loar on Facebook markeplace

    Quote Originally Posted by William Smith View Post
    I'm sure when prices were up some people paid 200-250K, actually I know of a few that paid high prices, I believe Chris Thile paid that and when I picked up my Loar I was talking to the owner of a shop that has a nice 23 for sale but its priced high as he told me the owner was into it real deep. One I was looking at was at 200K and not much wiggle room as the seller also said he was in pretty deep, and I wasn't going to go that high for one well financially I couldn't as I didn't want no debt. I think if one has the $ and wants the Loar they want they can and will pay a high price. I think it comes down to the individual and something is only worth what someone will pay for it. I'm sure with any of them they may say they want, say 150-200+ but with $/check/transfer in hand they'll go down in price substantially if they need to sell for whatever reason....Happy picking.
    This is why we don't buy instruments as investments, kids.

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    Default Re: $270,000 Loyd Loar on Facebook markeplace

    Quote Originally Posted by Marty Jacobson View Post
    This is why we don't buy instruments as investments, kids.
    Not at the present time, no.

    A dearly departed picker friend ordered 2 Gilchrist Model 5 mandolins back in the day for, as he put it, his 'retirement account'. That, then, was a prudent move.

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    Registered User Buck's Avatar
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    Default Re: $270,000 Loyd Loar on Facebook markeplace

    When you want to understand a for sale listing, I find it's useful to learn a bit about the seller. Under their name on Facebook I found this...

    "Love expo markers, crayons, chairs that spin, oh and vodka."
    Last edited by Buck; Apr-13-2019 at 7:02pm.
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    Default Re: $270,000 Loyd Loar on Facebook markeplace

    Quote Originally Posted by Buck View Post
    When you want to understand a for sale listing, I find it's useful to learn a bit about the seller. Under their name on Facebook I found this...

    "Love expo markers, crayons, chairs that spin, oh and vodka."
    Yes, and previously she was selling mulch and topsoil. I guess if one was going to spend that kind of money they would want to see the mandolin in person. I suspect this might not be a real listing but hey, I got suckered into buying a $30.00 mandolin from Wal-Mart. What do I know?
    "Bargain instruments are no bargains if you can't play them". These are the words of J. Garber.

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    Some Ability - No Talent MikeZito's Avatar
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    Default Re: $270,000 Loyd Loar on Facebook markeplace

    Oh wow - it just so happens that I had $300,000 set aside for a gold hardware 1922 Loar that was signed in 1924 . . . but I really wanted one in a light sunburst color . . .

    Oh well - maybe next time.

    [sigh]

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    Registered User Ranald's Avatar
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    Default Re: $270,000 Loyd Loar on Facebook markeplace

    $270,000?
    For that much money, I could make a downpayment on a fixer-upper bachelor apartment in Toronto for my daughter!
    Robert Johnson's mother, describing blues musicians:
    "I never did have no trouble with him until he got big enough to be round with bigger boys and off from home. Then he used to follow all these harp blowers, mandoleen (sic) and guitar players."
    Lomax, Alan, The Land where The Blues Began, NY: Pantheon, 1993, p.14.

  30. #24

    Default Re: $270,000 Loyd Loar on Facebook markeplace

    Quote Originally Posted by Ranald View Post
    $270,000?
    For that much money, I could make a downpayment on a fixer-upper bachelor apartment in Toronto for my daughter!
    Downpayment?......sounds expensive.......you need to move to Mississippi, where the livin' is easy!

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    Registered User Ranald's Avatar
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    Default Re: $270,000 Loyd Loar on Facebook markeplace

    Toronto's housing prices are ridiculous. I was fortunate to move there in my youth in 1971 when a week and a half's work at little more than minimum wage paid for a month's rent, utilities, and groceries. Now, houses that cost twenty-five or thirty thousand in the early 70's, sell for, literally, millions of dollars. I live in Ottawa, which is cheaper, but still expensive, so I'll be passing on that $270,000 mandolin. To be fair, Canadian and northern US houses are built to different standards, due to the cold climate, which may explain tens of thousands of dollars difference in price but not hundreds of thousands. I'd decided to move back home to rural Nova Scotia, where the livin' is also easy and housing relatively cheap, but with chronic health problems and having had a medical crisis while down east last summer, I've decided there's a lot to be said for big city living, with plenty of medical services close by. Anyway, I won't really consider $200,000+ instruments until I find that my Godin A mandolin and my Lil Wonder banjolin, both puchased for under $1,000, are limiting me.
    Robert Johnson's mother, describing blues musicians:
    "I never did have no trouble with him until he got big enough to be round with bigger boys and off from home. Then he used to follow all these harp blowers, mandoleen (sic) and guitar players."
    Lomax, Alan, The Land where The Blues Began, NY: Pantheon, 1993, p.14.

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