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Thread: Out of my league

  1. #26

    Default Re: Out of my league

    You have a Devastator? The thing that dreams are made of.....
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  2. #27
    Registered User Buck's Avatar
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    Default Re: Out of my league

    Quote Originally Posted by MikeZito View Post
    Unless I am mistaken, ANY musician who can afford a Loar can claim it as a business expense, and use it as a tax write-off . . . so, it can serve the triple purposes of being a player, investment and a financial business decision.
    Yes and no. It's a capital asset, and since it's not expected to depreciate there's no benefit there. If you took out a loan to buy one, then you can deduct the interest but not the principal. Any repair work would be a deductible expense. If you later sell at a loss, you can show that loss to offset other income. However, if you make money on it, then you'd pay capital gains tax on the increase.

    Long story short, it's not much of a winner in terms of taxes.
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  4. #28
    Registered User stevo58's Avatar
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    Default Re: Out of my league

    Quote Originally Posted by Br1ck View Post
    You have a Devastator? The thing that dreams are made of.....
    In the seventies, I not only had a Devastator, I had a first-run Exterminator. It was pretty player-grade, though - but it had tone to die for. I later traded it for a Firebird X. Stupid move.
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  6. #29
    Registered User Miltown's Avatar
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    Default Re: Out of my league

    Quote Originally Posted by Br1ck View Post
    There are plenty of people around to whom Loar prices represent disposable income
    <Removed by Moderator. Posting Guidelines>

    No need to ban mods, I keed, I keed.

    (Not really.)
    Last edited by MikeEdgerton; Aug-15-2019 at 6:32pm.

  7. #30
    Out of tune HappyPickin's Avatar
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    Default Re: Out of my league

    Quote Originally Posted by archerscreek View Post
    Did you get to play it? That would be such an awful tease if someone said, "Here, wanna hold my '24 Loar? Oh, but you can't play it." I'd have to at least play Old Joe Clark, haha.

    But then again, this reminds me of the question of whether or not it's a good idea to play an instrument that costs more than you or your wallet want to pay. It could solidify your happiness with what you already have, but it could also lead to a bad case of MAS.
    The strings were loosened so it wasn't ready to play. I did gently pick at it a little and had my picture made with it. I was surprised when he just handed it to me. I admit that I gave it a good sniff. It smelled like old furniture and tears. It was purchased by the current owner when Loars were at the height of their value.
    Out of tune and out of time.

  8. #31
    Registered User William Smith's Avatar
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    Default Re: Out of my league

    Quote Originally Posted by HappyPickin View Post
    The strings were loosened so it wasn't ready to play. I did gently pick at it a little and had my picture made with it. I was surprised when he just handed it to me. I admit that I gave it a good sniff. It smelled like old furniture and tears. It was purchased by the current owner when Loars were at the height of their value.
    So the Loar wasn't tuned to pitch? Is this someone who bought it for an investment I wonder? They paid the big price about in 08 or so huh? Too bad you couldn't tune it and play it! Didn't the owner want you to? Sorry I'm just very curious! It may have been this thread but I mentioned a few people I know of paid the super inflated price back then thinking they would go up more -they may very well but not for a loooong time I think as there are way too many great mandolins that people would rather spend their $ on and get something great for a fraction of the cost? One Loar F-5 I know of the owner has it at a shop for 250 for quite a few years now and the owner of the shop when I talked to him at a guitar show said he won't come down any as he paid that high price-he also said it won't sell and the owner is pretty bummed about it, he said you have to lower your price as they've went down big time, I guess he/she doesn't need the $ that bad or they would come down? I've even seen Gruhn come down on his Loars some by 50G+!

  9. #32
    Cafe Linux Mommy danb's Avatar
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    Default Re: Out of my league

    About 15 years ago (my my), I wrote this story about the experience of having time on a Loar:

    Loar Diary

    Have a look-see! As to what remains from that experience 15 years later..

    I definitely changed my pick technique at the time I had the Loar, and kept to it
    I'm much more careful about subtleties in tone from how I hold the instrument
    I am more prone to let notes ring out than I was before
    My taste in older Gibson oval-holed mandolins changed.. several I would have passed on ended up being ones I now treasure!
    The way I "test drive" mandolins changed pretty dramatically too


    Over time, I'd say I was pretty luck with 76547 as a "First Loar to Try". It's a really nice one. I've been quite fortunate to try others since then. There hasn't been one that I disliked, though there are definitely some that are really special and hit me on a different level. This one is still in my top 3, it just depends on "for what" !
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  11. #33
    Registered User William Smith's Avatar
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    Default Re: Out of my league

    I LOVE what the Virzi's do myself! The one's I've played and have sure aint no Tone Reducers!

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  13. #34
    Out of tune HappyPickin's Avatar
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    Default Re: Out of my league

    Quote Originally Posted by William Smith View Post
    So the Loar wasn't tuned to pitch? Is this someone who bought it for an investment I wonder? They paid the big price about in 08 or so huh? Too bad you couldn't tune it and play it! Didn't the owner want you to? Sorry I'm just very curious! It may have been this thread but I mentioned a few people I know of paid the super inflated price back then thinking they would go up more -they may very well but not for a loooong time I think as there are way too many great mandolins that people would rather spend their $ on and get something great for a fraction of the cost? One Loar F-5 I know of the owner has it at a shop for 250 for quite a few years now and the owner of the shop when I talked to him at a guitar show said he won't come down any as he paid that high price-he also said it won't sell and the owner is pretty bummed about it, he said you have to lower your price as they've went down big time, I guess he/she doesn't need the $ that bad or they would come down? I've even seen Gruhn come down on his Loars some by 50G+!
    I believe it was bought as an investment. I was shocked to have it handed to me. I definitely wasn't going to ask to tune it up and play it. It is in very good condition and I am sure it is playable though.
    Out of tune and out of time.

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