Why are so many Loars for sale?

[bootinz]

I count at least 6 (plus one 'dola and one '27 Fern) for sale from stringed instrument dealers and one for sale in the Cafe classifieds. That doesn't count any that might be for sale privately.
Is it the recession? Are these just not great sounding mandolins? None of them seem to be selling. And the asking prices range widely.
I know this has all been discussed before but I can't remember this many for sale at one time!

[Flowerpot]

I don't know for sure, but it might be the same reason that people are selling stocks and gold. Right now, times are hard, credit is tight, and cash is king.

[Glassweb]

I don't know for sure, but it might be the same reason that people are selling stocks and gold. Right now, times are hard, credit is tight, and cash is king.

I can't speak for the sellers, but I believe many folks are looking to fatten up their bank accounts right about now...

[Eddie Sheehy]

I guess some see a Loar s their nest-egg to back up their 401K.... and the 401K's lost about 40% value so far this month.... time to csh the backup nest-egg.... unfortunately they are not selling. Now is a time to buy mandos not sell them. Prices are way down even on the medium to low-priced mandos. Martin Style B's are going for under $800. Last year, Style A's were fetching a grand.

[jim_n_virginia]

It's the poor economy I suspect. The one person I know who is selling theirs would really rather not sell it but.....

it's equivalent to cashing a long held CD or fund.

[TomTyrrell]

One thing that brought some out of the closet was Elderly's listing of the "new" Loar in Denver. When somebody who has had one for quite a while sees the $225K price tag they start thinking maybe it is time to sell that old mandolin and buy a better house. I haven't seen any lately that were priced low enough to cause a person who hadn't been looking for one to buy it.

I can't personally recall any long period of time when you couldn't find a Loar-signed F5 if you wanted one and had the money. It seems like there was always at least one dealer who knew of one that was available even if they didn't have it in their shop.

[Glassweb]

I'm curious to know how the market for high-end violins (Strads etc...) has been affected by the current world economic "crisis"... anyone out there have some insight on this?

[f5loar]

I have personally picked on just about all these for sale and it's not because of the sound. While some do have the Virzi they still have that "loar" sound if everyone can agree on what that is. And I know from talking with other collectors that Loars have privately changed hands in the $240K range. I would just called it the personal "trickle down" effect in the current economic conditions. You sell the house, you sell the cars, your wife files for divorce and then you get rid of the Loar and in that order.
Then you can pay for the lawyers, bill collectors and hopefully have enough left over for an insurance policy for your funneral expenses cause your
ex-wife ain't going to see to it you have a decent burial now.

[JEStanek]

How are you Loar owners treating your wives/husbands? You might have bigger problems than needing to sell a collectable.

Jamie

[Tom C]

As I heard Mike Marshall once say... "They are more expensive than they should be."
That said, in my current position, I could use $200K more than a nice mando.

[mandolooter]

As I heard Mike Marshall once say... "They are more expensive than they should be."

I wouldn't argue with that statement but the buyers market decides the price not I.
I want a Nugget A is all....hahaha!

[JeffD]

Maybe there is a perception that the market price for Loar's is going to go down, so sell them now. Self fulfilling prophecy in some ways.

I think its hard to judge a trend from a handfull of examples.

[Weagle]

I think if someone wants a mandolin like that and can afford it, the mandolin is sold. Unfortunately, I do not travel in those circles and would have a hard time coming up with the money and if I did; I wonder if I would part with the money to own one.

I would like to have that Gibson F5 Peter Mix has for sale buuuut I have to sell some stuff first.

Life truly is an adventure.

Weagle

[Mark Seale]

Even at Gruhn's where there are 3 F5's and 1 Mandola, the price range is fairly wide. It's an interesting time in the market.

[Links]

Let's face it, even people who can afford Loars now realize that when the economy is tanking that they probably will not have to pay a premium price. For those Loar owners who are in great financial shape and will never "need" to sale should have no worries. For those that have leveraged the farm to buy one may have a problem. Those that bought them many years ago will still be in good shape.

It's funny that when things are going great, practically everyone agrees that you do not buy high dollar instrument as an investment but "because you love them" (I suscribe to that theory). However, when the economy starts to tank, almost everyone who has high dollar instruments insists that they are great investments and will hold their value. I think they are wrong - but hope like heck that they arn't!!!!!!!!!!!!!!!!!!

[JeffD]

Let's face it,

I don't see that six examples of a particular nich antique musical instrument that only a specialist would know is valuable are seen for sale - that you can conclude anything about the economy.

The other day my friend who runs a music store said he just sold four high end brand new pianos in a week. He tells me that is a record for his little store.

I dunno.

[John Flynn]

I'm curious to know how the market for high-end violins (Strads etc...) has been affected by the current world economic "crisis"... anyone out there have some insight on this?

This is not a complete answer, but a piece of the puzzle. A guy I know is a bassist for a major symphony and his wife is the second chair violinist. He told me that most of the really high-end string instruments in symphonies are not owned by the people who play them, but by investors, predominately Japanese. They "place" the instruments with top players, with the idea that having the instruments played by big names will increase the value. I don't think you have that dynamic with Loars, so it would be a different ball game. Sometimes investments in things with intrinsic value, like musical instruments, can increase in tough times, because investors are looking for alternatives to "paper" investments, which are not doing as well.

[loardreamer]

I don't understand why you can buy one at one store for around 150k and then at another store the price is closer to 250k i could understand it better if the one for 250 was mint but that is not the case.

[Timbofood]

Any bunch of you want to form a consortium and have me be the player? I'd be happy to oblige!

[Glassweb]

I don't understand why you can buy one at one store for around 150k and then at another store the price is closer to 250k i could understand it better if the one for 250 was mint but that is not the case.

who's asking $250K for a Loar? i must have missed that one! but in any case, an asking price and a sale price are two different things... i'm not really aware of any recent "public" Loar sales...

[JEStanek]

Some Loars are more valued than others, for instance one from the same date as WSM's may fetch a good bit more than one from some other date. The presence of a virzi could impact sale price. I'm f a r from a Loar expert but this is what I've learned on this site over the years.

Jamie

[Glassweb]

Some Loars are more valued than others, for instance one from the same date as WSM's may fetch a good bit more than one from some other date. The presence of a virzi could impact sale price. I'm f a r from a Loar expert but this is what I've learned on this site over the years.

Jamie

true enough... a mint, sidebound July 9th Loar would fetch a considerably higher price than say, a mint Feb 18th Loar with a Virzi... regardless of which mandolin was better sounding, had prettier woods etc... that's just the nature of the Loar market...

[loardreamer]

who's asking $250K for a Loar? i must have missed that one! but in any case, an asking price and a sale price are two different things... i'm not really aware of any recent "public" Loar sales...

Greg boyd has one they have since reduced the price to $222,400 and it is a july 9th but the price was around 250k before they reduced it. While you can find a loar at gruhns for close to a hundred grand lower

[f5loar]

One at Gruhn's has a refinished back, the other is a '24 with Virzi and is in VG- condition hence the lower prices there. The last really nice Loar changed hands privately at $240,000. I know of several that could easily fetch over the $250,000 mark should they come to market. I've not heard of one over that lately. You see the same price structure in vintage cars.

[f5loar]

Also noticed the one at Boyds while is a July 9th, same date as WSM it is not a side bound like WSM which in the Loar world is not the same. That would explain it being less and reduced at this time. Also it's not near mint either.
You might ask why binding could effect the price some $25,000. Let's compare it to a '57 Chevy with the original stock V8 vs. the same '57 Chevy with original 6 cylinder. Big difference there in price if both Chevy's in same condition. Call it sheer luck of the draw on that sunny day in January of 1945 in Florida but WSM picked a pretty good one from a pretty good batch of Loars from 1923. He never felt the need to find a better one.