I’d keep the Eastie 505 of course. Value to me vs value-in-cash is like a 4-1 ratio.
I went through this about 15 years ago when broke after going back to school for a year. Didn’t sell any mandolins. I sold a Tak solid-body GZ300 (made a profit, and have regretted it) and an open-back banjo I built myself 25yrs earlier but never played anymore (went to someone who wanted it, that’s a plus, I am curious what its been up to and wouldnt mind meeting up for a few drinks and stories). I also put my long-beloved Martin 0-18 up for consignment, but recovered it after the other two sold. My family was mad at me that I even tried to sell it, it’s a lifer now.
So in my modest mando collection now, I’d deal out the Seagull S8 (I’m biding my time waiting for a good deal on a full-size oval-hole, can take or leave the Seagull although they are good value and a good travel-instrument), the Fender Mandostrat (worth more now than when new, and I never play it) and the old Regal I restored some time back (it’s OK but I just don’t like the sound or feel that much). And the Serenader tenor banjo. Possibly even its successor the Ludwig, if I could find a good shorter-scale 17-fret model. I would also let go either the Taylor Mini-GS or the Flambeau (Lowden-designed, great guitar but dreads are not for me anymore), I don’t need three acoustics. And probably the Yamaha hollow-body electric I guess, haven’t even seen it in years (it’s somewhere under the basement stairs). Total proceeds from all six (not counting the Ludwig) would be around two grand gross, maybe 1500 after consignment costs.
That would leave me with the Eastman, the P Cox flattop mandola, and the Trinity College octave. Which all get actively played, or would if the mandola wasn’t quarantined several provinces away. Along with two acoustics and the Cort headless bass, that would be a fairly rational working collection. (And leave some room for a couple new members.)
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