I spent a great day at Elderly yesterday looking at possible upgrades. What a BLAST! I spent a solid 90 minutes trying various mandolins occupying a wall in the showroom. Then I looked to the right and saw another wall of mandolins. Heaven!
All in all I spent about 5 hours there (sure went by fast) While there I happened to meet another Cafe member, Rick Jones who is a builder, and we had a nice chat.
So the first wall had the lower-end mandos - some new and some used. Kentuckys, Eastmans and assorted others ranging from $225 to $1500. I found a couple I liked.
The other wall had the more expensive ones - Collings, Phoenix, Pomeroy, some old Gibsons (one had a bizarrely large pickguard that some genius decided to provide additional support for by putting a pin from the pickguard through the bridge!)
Anyway, I really liked the Phoenix neo-classical and the Pomeroy. These have exquisite craftmanship, beautiful woods, great sound, made in USA, etc. and prices in the low $3000s. The price difference between the low-end mandos and these is easily understandable.
But then there was the Collings with a price of $9000. I played it. It didn't feel, look, or sound $6000 better than the others - in fact the craftmanship didn't even seem as good to me.
Why is the Collings worth so much more? What explains the difference of $6000? Is it about leaving the realm of tangible value (patently better woods, finer craftmanship) and getting into some mystical realm of perceived value?
<span style='color:red'>Edited to add: This is not intended as a bash of Collings or Collings buyers. It is a sincere curiosity. The Collings just happened to be the expensive item on the wall</span>
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