Vintage Guitar Vault

Professor Thump · June 20, 2009

Some of you may know that I am a bit of a guitar nut. I prefer to refer to myself as a guitar collector but you be the judge. All I know is that any stock I have owned in the last year has dropped from 30 -200% in value. My "good" collectable guitars on the other hand have dropped by 30% at the most and I believe some have gained value! Picking the right ones is the key. You can spend a lot of money on cool guitars that won't ever appreciate.

Knowledge is king…

In my early days of garage bands I bought one or two new guitars that may not be much more today than when I bought them. One of my first and second "good" acoustics were Fender guitars. They have great necks and a reasonable tone. The craftsmanship is near perfect but they are made in Japan and the market hasn’t focused much on Japanese guitars. So my 12 string Fender is almost mint condition yet it worth about what I paid for it in the early 80’s or less. On the other hand I traded in a Fender P bass for this beauty which I paid $400 dollars. That guitar today may be worth $2000 even though the condition was 7 at the time. Go figure, but there is a key to investing in guitars. Pick the picks… limited editions, rare colors and models used by the stars in the 50-70’s. That is part of my rule. But to simplify it buy the following:

Early Martin Acoustic Dreadnaughts 40-70’s

Gibson Les Paul 52 – 60’s

Fender Telecasters 51-60’s

Sheryl was just a bonus in this picture.

Fender Strat 54 – 60’s

Gibson ES-335 58 – 60’s

There are others such as early Gibson Explorers, LP Jr’s and Fender models, but this is the general rule.

Another unique model that I have been banking on is Paul Reed Smith 85-89 prior to the neck heel increase. The PRS is pictured on the left. These are shooting stars in my mind but less vintage than the others. The other guitar pictured is a Les Paul from Gibson. This particular one is a late issue Premium Plus. As I have mentioned pre 1970's LP's are almost unaffordable for most musicians.

Other Collectors

There are some serious collectors out there with money. I have a friend named Eric who invest for a group. He stores his best stock in a vault that is controlled for humidity and temperature. I am a little jealous but he shares his stories of his greatest finds regularly, which helps me get through my limited ability to purchase. Eric is a salesman so he has the ability to travel regularly, buy, sell and network. He goes to at least 30 stores per month, usually twice that many. He has been on a buying spree for the last several months because prices have dropped and "good" finds are surfacing as collectors free up cash. He bought probably 50 guitars a month or so ago. One of his favorites of late was a 53 Telecaster that he bought at a good price. He said this guitar is the holy grail for sound. I haven’t heard it but I would bet it is. The thing that makes it work for Eric is that he buys only the best condition guitars and the rarest of birds.

I bought a 67 Gretsch Country Gentleman from him last fall. This baby is mint… Imperial tuners and a 9 / 10 condition. I will probably sell this guitar when the time is right but it is a time vault for beauty. No other guitar sounds like the Gretsch for some of the Beatles songs.

New Guitar Magazines

There are signs of the time that guitar collecting is becoming more serious. There are several new magazines that focus only on the finer guitars with investments in mind. Three Magazines that come to mind are: Premier Guitar, Vintage Guitar, and Guitar Aficionado.

An article in the Aficionado shows 5 blue chip guitars. This tripped my interest. The five guitars are:

58 Gibson Explorer Value: $500-700K (2009 & 2007 estimates)

31 Martin D-45 Value: $120-150K

59 Les Paul Standard Value: $400-550K

51 Fender No-Caster Value: $0.95-130K

54 Fender Stratocaster Value $100-130K

I don’t now why the Martin list higher than the Les Paul since it isn’t worth as much. I suspect it is because EVERYONE can use a Martin and only some people play an electric LP. So the risk is lower that it will go up. At one time I only played acoustics so I can understand this.

An interesting model was the Gibson Moderne which never made it to production.

I will talk further on the ins and outs of guitar collecting in the days to come…

JL Sargent · June 20, 2009

Thats really interesting stuff and thought I might share a few guitars I have owned and played. A 1930s Gibson L5 comes to mind. That was a sweet one. I owned a '72 Strat for many years and presently own a D' Angelico L-5 sized jazz model. I used to hunt em myself and found a couple of prizes over the years. I found a Gibson SG once while in the military for $100, but nothing valued at the price points mentioned above. My favorite to play I got for my 15th B'day in 1978. Its a DY57 Alvarez Yairi signed by the man himself. I play it for my acoustic needs. I have a 91' Jackson Soloist (shark fin inlays) that I should just sell. Its near mint and I hate to play it because I'm afraid I might scratch it. I must say though, Its a great axe for playing along with ZZ top on the "guitar player" computer software.

As a player I do not stay with the guitar over time. I can put it down for periods of many months. As one might imagine this has really hurt my playing ability. To be honest, watching guitar superstarts on Youtube hasn't inspired me one bit. Check out Monte Montgomery's "little wing" on there. He is playing a Yairi on that one. Alas, I realize I do not have that set of guitar tools.

bigrfish · June 20, 2009

I do it too. I buy a guitar and work with it until I get it like I like it...currently have a Strat, early-mid 80's that started life as a Texas Special, retained the neck pickup from that set, moved it to the middle position, and put in a Holy Grail humbucker set in the neck position, set up with push-pull pots to split coils, so I can either play it single coil or humbucking, same with the bridge set, which is a Jeff Beck . Both these are Seymour Duncan. Similarly I have a good platform in a late-80's Epiphone Sheraton, retrofitted with a set of Tom Holmes humbuckers, set to split both just like the strat. Tom Holmes built guitars for Bo Diddley, Albert King, made 17 for Billy Gibbons, makes all the parts and does the gold(or nickel) plating in his shop, and does the hand-scatter bobbin winding...some serious mojo in those pickups. Finally the demand for his pickups got so good that he had to quit building guitars, but he has gone the other way now, preferring to get back to custom building whole guitars, and if he builds you a set of pickups now it will set you back some pretty serious money for new pickups, but they are pretty serious pieces. They beat any PAF you could find or name in musicality. Pianistic tone, especially in the bass registers. Incredible technology. I have a Mexican Tele I retroed with G&L pickups with an extra big magnet hung on the back and adjustable pole-pieces.....puts out hot like a P-90 and is a very interesting interpretation of the signature Telecaster vibe. On blues and old-school R&B these guitars are like pure gold. I have tweaked the actions ad nauseum, and they all play like an absolute dream. For acoustic, I use a Taylor that is the perfect recording guitar. I have used it on both strummed rhythm and slide parts and could not imagine anything better for what my ears want to hear recorded and played back.

I write gospel music that is not quite ready for primetime church time, if that makes any particular sense. These guitars can be heard in songs on my MySpace music page, at http://www.myspace.com/bigrfishdoc

I am glad to have the chance to share, and make no apologies for my spiritual position and beliefs; likewise, I don't beat anybody over the head about whatever they happen to believe or not believe. It's out there to take or leave, and I'll still like you and love you and treat you like a first-rate individual whether you like it or not. None of that changes any of the technical or artistic aspects of the playing and recording. Like Louis Armstrong said, there's only two kinds of music, good music and bad music. I hope I have fallen down on the good side!!

All the best to everybody as they pursue that tone in their heads!!!

Chuck (Doc) Snow

Professor Thump · June 22, 2009

Here is the 67 Gretsch Country Gentleman that I mentioned in the previous post. This baby is in excellant condition for being over 40 years old. On top of the condition this guitar came with Imperial tuners. This style tuner is very rare for a CG

The appearance of a crack on the headstock is actually the glue joint. This neck is a two piece neck thus the seam.

Professor Thump · June 22, 2009

Here is a beautiful 2002 Gibson Les Paul Premium Plus. Alnico pickups and a nice flame maple top. I thought you might like this guitar with the backdrop Hard Rock / Klipsch poster.

Professor Thump · June 22, 2009

Here are a couple of winners. The guitar on the right is a Fender Custom Strat in a holoflake finish. The birdseye neck is as dotted as I have ever seen. Ironically this guitar sounds more like a Telecaster. Probably due to the dense birdseye neck.

The guitar on the left is a 1987 Paul Reed Smith Custom with a 10 top if they would have rated the tops this early in production. This is the third year of production for PRS guitars.

Professor Thump · July 1, 2009

Sister guitars from sister years. PRS Custom on the left is a 1987 vintage with a T and B set of pickups and a flamie Maple top. The guitar on the right is a PRS Standard from 1986, which was the second year of production for this guitar. This is a solid Mahogany body. Both include the "sweet switch".

Which do you think is worth more? Time will tell...

Professor Thump · July 1, 2009

This is the money shot for me... literally.

Professor Thump · July 1, 2009

So this is a chart that shows the value of a 1959 Gibson Les Paul Standard from 1977 - 2007. The value has gone from $2000 to $250,000. If you were lucky enough to have found one in this period and smart enough to have bought it you are a wise and noble collector. This is stellar compared to the numerous investors who have bought into General Motors stock. In 2008 you would have said that this was a blue chip standard that was safer than gold.

Professor Thump · July 1, 2009

http://www.marketfolly.com/2008/11/guitar-hedge-fund.html

Interesting article on a guitar hedge fund from 2008...30% ROI? The author shouldn't be so surprised...

Professor Thump · July 1, 2009

Getting the Axe: Guitar Collecting Can Rock Your Investment Portfolio

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Written by drbob on Sep-30-08 12:12am

From: bestguitaronline.com

Chief Executive, The, Nov, 2005 by Mac Randall

Anyone who’s ever heard a Jimi Hendrix solo knows that guitars can produce fantastic sounds, and anyone who’s ever ogled the curves of a Fender Stratocaster will tell you they’re mighty stylish as well. But the instrument’s appeal goes well beyond its visual or sonic charm, its practicality or even its ties to musical history–it can also be a highly prized collectible. Certain vintage models are often regarded as investments, much like antique chairs or Impressionist paintings. Perhaps this is why so many people who start out with a youthful passion for playing end up happy victims of what Walter Becker of the rock band Steely Dan once drolly referred to as “GAS: Guitar Acquisition Syndrome.”

Look among the ranks of those who’ve caught this particular bug, and you’ll find a surprising number of chief executives, most of whom aren’t professional musicians but all of whom grew up with rock music and are now helping to drive the vintage market upwards. Take Microsoft co-founder Paul Allen, for example; his collection includes the white 1968 Stratocaster that Jimi Hendrix played at Woodstock in August 1969. Bought from an Italian disk jockey for $1.3 million, that guitar is now the centerpiece of the Allen-funded Experience Music Project, a Seattle rock ‘n’ roll museum and historical foundation that opened in 2000.

Allen may be America’s best-known executive guitar collector, but there are lots more. Frank De Fina, president of Panasonic Systems Solutions Company of America, conservatively estimates that his collection is “in the dozens.” Its highlights include a 1939 Martin D-18 acoustic and three electric models lusted after by collectors worldwide: a 1953 Fender Esquire, a 1956 Fender Stratocaster and a 1959 Gibson Les Paul. With such a large number of treasures on hand, storage became an issue. So a few years back, De Fina bought a bank vault to house his collection. “Bank vaults are more readily available than many kinds of vintage guitars,” he quips, “and they’re a lot cheaper, too.”

Tom Simons, president and creative director of Partners & Simons, a Boston marketing firm, doesn’t have as extensive a collection as De Fina, and regards himself as “a guitar accumulator” rather than a collector. Still, the dozen instruments that he’s accumulated would probably strike most people as extravagant. One of them, a Danelectro Bellzouki electric 12-string from the mid-’60s, is described by its owner as “not playable but fun to look at.” Comments like this, by the way, are a sure sign that GAS has taken hold.

Henry Juszkiewicz’s early interest in playing and collecting guitars was so strong that he ended up buying a guitar company; since 1986, he’s been the CEO of Gibson, makers of the legendary Les Paul, among many others. His collection now numbers “around 40,” mainly Gibson prototypes, including two models designed by country great Chet Atkins. Juszkiewicz confesses that he owns guitars besides Gibsons–”I can’t be a one-brand guy,” he admits–but in deference to his position, he won’t reveal what they are.

Diamonds in the Rough

Why has guitar collecting become such a popular pursuit for these and so many other chief executives? Most just love the instrument, for the way it looks, sounds and feels. Many also love it for what it represents: their youth. “There’s a little bit of the outlaw in the electric guitar,” marketer Simons says. “What’s more, CEOs are the business world’s version of rock stars, and a climate-controlled closet humidor full of vintage instruments is a link back to a time when they were able to practice the occasional bad behaviors without repercussions. Those guitars are reminders of when the good times really rolled.”

Of course, there are other, perhaps more shrewd, reasons. “Look at a guitar that sells for $12,000,” says Gibson’s Juszkiewicz, “then look at a diamond that sells for the same amount of money. It’s this little stone. There’s no craftsmanship, there’s no history, and it does nothing. There are a lot of diamonds being sold out there, and yet I would posit that the guitar is of more legitimate value. The reality is that in our marketplace, the investment quality of instruments is pretty phenomenal.”

He’s not joking. In the last few years, the prices of vintage guitars have skyrocketed. The most extreme case is that of the Gibson Cherry Sunburst Les Paul. Approximately 1,700 of these guitars were made between 1958 and 1960 before the line was discontinued due to lack of popularity. Their original list price was under $300; as recently as five years ago, you could find one for $45,000. Today, they’re selling for $250,000. And Stan Jay, president of leading vintage guitar dealer Mandolin Brothers in Staten Island, N.Y., wagers that a mint-condition “Burst” could fetch $300,000 before this year is over.

Other high-ticket items are Martin acoustic guitars made before World War II and so-called “pre-CBS” Fender electric guitars, made before CBS bought the company in 1965. “The rate of appreciation for those models in the last year has been the fastest I’ve ever seen.” says George Gruhn, owner of Gruhn Guitars in Nashville, author of Gruhn’s Guide to Vintage Guitars, and generally acknowledged as one of the world’s foremost guitar authorities. “Some of them have jumped as much as 75 percent.” And though Gruhn is as shocked as anyone by these price hikes, he doubts that the bubble will burst in any lasting way: “I haven’t seen any guitars drop in value and never get back, and I’ve been doing this for 42 years.”

If you don’t quite have the bucks for a vintage Martin, Gibson or Fender but still would like to get into guitars as an investment, rest assured that there are many other options. Both Jay and Gruhn note that the market for archtop semi-acoustic guitars, principally used by jazz players, is significantly undervalued at the moment: D’Angelico, D’Aquisto and Stromberg are the most highly respected brands in this area.

Professor Thump · July 3, 2009

Collectors show off their gear for Premier Guitar Magazine.

This is a great set of axes and amps, some of which are quite vintage. The question I always have is how will an original vintage

investment compare to a "re-issue" which in many cases is in much better condition.

In 20 years will you care?

From L to R: '62 Gibson Les Paul SG (Historic Shop re-issue), Fender MIM '50 Classic Stratocaster re-issue, '59 Gibson Les Paul flame

-top (Historic Shop re-issue), 2001 Fender American Standard Telecaster, 1977 Gibson Les Paul Standard (my "touring guitar").

From L to R: Custom-built '63 hardtail Strat, Custom-built '65 hardtail Strat, CIJ '65 Strat re-issue (modded), MIM Classic '50s re-issue

Strat (modded), Custom-built Jeff Beck Strat clone.

"After years of dissatisfaction with off-the-rack Stratocasters I decided to assemble my own, using parts combinations not generally seen

with regular Fender production guitars. Some pieces came from Mexico while others hail from Japan. Stage situations dictated a change

to noiseless pickups, thus all are equipped with either DiMarzio Virtual Vintage or Fender SCNs with S-1 switching. The trem-equipped

guitarsall feature steel blocks for maximum sustain and tuning stability while the hardware is of the vintage-style variety. Ash bodies with

the traditional S/S/S routing were selected for their sonic properties, mated to vintage-spec necks. I liken the Fender Strat to the ’69 Chevy

Camaro – easy to build, easy to hot-rod, and a joy to drive."

Custom-modded Fender Deluxe Reverb re-issue: hot-rodded chassis, larger blonde/wheatstraw furniture, 15-inch JBL D-130F speaker.

Custom cabinetry by John Hinsdale, aka "The Cab Guy." I call this amp my "Spankmaster Reverb."

"A late '67 Fender 'drip edge' Bandmaster: dead-stock, matched set, one-owner (I'm the second)."

Who needs a singer, anyways?

"Some years back on the eve of an important audition for a house band gig, our lead singer found himself jailed on a drunk and

disorderly charge. The night before his arrest our mixing board had crashed and burned during rehearsal. What to do – pay the bail or

buy a new PA? We opted for the new board re-arranged our demo set that afternoon and – to our collective surprise – got the job. Our

front man never forgave us and went on to a lucrative solo career in the food service industry."

"My 'Fillmore' rig: a 1978 vintage Fender Twin Reverb with factory 'orange basket' JBL D-120F speakers, with a '65 re-issue version

(also equipped with JBLs).

Both amps poised on a pair of vintage Fender Bandmaster cabs for the ultimate in festival/outdoor stage projection."

"The porch weasel from hell: Fender Stage 100 DSP with matching DT112 extension cab. Not quite as toneful as a Fender with

vacuum tubes, but this little critter is capable of causing seismic events and eats Crate half-stacks for lunch!"

http://www.premierguitar.com/Magazine/Issue/2008/Sep/Premier_Collector_6_Custom_Built_Strats_and_Fender_Tube_Amps.aspx http://www.premierguitar.com/Stream/StreamImage.aspx?Image_ID=9BADDEE7-515D-4839-98EA-55C30E1F116D&Image_Type=image'>

Professor Thump · July 3, 2009

This is another beautiful collection with some real thought to the value and collecting in pairs. Nice job Robby Z!

Name: Robby Z
Years played: 40
Home turf: SF Bay Area
Current/former bands: Shane Dwight Band ( Have also played with Marshall Tucker Band, Brad Gillis of NightRanger, Coco Montoya and many others)
Website: RobbyZ.com
First guitar: 1966 Sears Silvertone9
Favorite guitar: 1966 Fender Stratocaster, also Fender (John Cruz) Masterbuilt Strat
Favorite amp: 1967 Fender Pro Reverb
Favorite effect: Original Ibanez TS-9 Tube Screamer
Favorite strings: Ernie Ball
Favorite cable: Monster
What’s your philosophy on tone? Do everything you can to find the exact tone you crave. And that tone might -- and should -- vary from song to song.

"I have collected tons of guitars over the years and currently own over 300 vintage guitars -- everything from fifties Strats and Teles, to 1959 Sparkle Top Goyas, to forties and fifties Gibson archtops. My main love at this time are sixties Custom Color Jaguars and Jazzmasters."

StreamImage.aspx?Image_ID=9BADDEE7-515D-

'65 Jaguar and '64 Jazzmaster, both Sea Foam Green and in pristine condition

"I purchased both of these guitars basically from the original owners, and both have pictures of the original owners playing them 40-some years ago and recently. I love guitars that you know the entire history of...especially Sea Foam Green ones."

'54, '55, '56 and '57 Stratocasters - 100% original and in pristine condition

"I love these Strats -- especially because I paid so little for them 20 or more years ago."

'64 Fiesta Red Jaguar, '65 Fiesta Red Jazzmaster and '62 Fiesta Red Stratocaster

Some really cool vintage guitars I keep hanging on display

A whole bunch of Gibsons hanging on my wall (mostly hollowbody and archtops) from the fifties and sixties

Performing live. Robbie on far left, Shane Dwight on far right

"After a few years of playing at the Winter NAMM show in Los Angeles for the Fender Custom Shop, John Cruz came to me and said “Hey, why don’t you let me make you a guitar?” John had just been promoted to Master Builder for Fender. So he and I sat down and agreed on the specs (basically a black Strat with gold hardware, green guard, sixties pickups) and about six months later he sent it to me. It was beautiful. He even surprised me by putting abalone inlay on the 12 fret saying Robby Z. On the back of the headstock it says “Custom Built for Robby Z,” along with John’s Masterbuilt stamp. The guitar was so awesome I didn’t want to play it at gigs, but a year later John saw me performing in LA with my ’66 Strat and said “Hey, where’s my guitar?” So from that day on I use it at almost every show."

http://www.premierguitar.com/Magazine/Issue/2008/Sep/Premier_Collector_8_Vintage_Strats_and_Custom_Colors.aspx

Professor Thump · July 3, 2009

Premier Collector #12: Vintage Grails & Boutique Beauties

Name: Scott Bradoka

Years played: 30+

Home turf: Lehigh Valley, PA

Current/former bands: I’ve been treading water in a sea of obscurity for the past 15 years under my own name.

Website: ScottBradoka.com

First guitar: My first ‘real’ guitar was a borrowed Martin acoustic from my cousin. When that went back, I got a Phoenix Electra Strat style electric.

Favorite guitar: I currently own 120+ guitars, many of which are featured in my new hardcover book, My Collection. My main guitar is my 1956 Les Paul. It has been with me on every gig since 2001. It’s well worn, but feels like home.

Favorite amp: My 1963 Vox AC30 is my go-to amp, though I used a Suhr Badger and Zinky pretty much on the new tracks of my latest 2CD/DVD release, Everything.

Favorite effect: A touch of delay. Live I use a Line 6 Echo Pro.

Favorite strings: 10-46

Favorite cable: Monster cable

Other gear in my stash:
I have a huge collection of guitars and amps. As stated above, over 120 guitars and currently over 25 amps. I have a number of old Gibson amps from the 1950s, a few Vox AC30s from the 1960s, a killer 1968 50 watt Marshall, along with some great new amps like a Zinky, Suhr and 65 Amps SoHo. My guitar collection focuses on 1950s and 1960s Fender, Gibson, and Gretsch guitars, though I do have some recent models plus oddball pieces.

Give us the back story on an item in your gear stash that you’ve sent a photo of: The black 1958 Fender Stratocaster was purchased from Eric Johnson. Eric originally purchased it in 1976 and it was stolen from him in 1982. In a Guitar Player interview he stated it was the best Strat he had ever owned. He eventually got the guitar back in 2006. I purchased it from him in Nov ’08. Out of the 15-20 Strats I own, it is definitely THE one.

Share a gear or gig story with Premier Guitar readers:
One of the coolest moments I have had was when we were opening dates for Jeff Beck in Germany back in ’06. The first date was Berlin. We were playing this old castle… full-on wall around it with a moat. The dressing room setup was a large area just partitioned off by velvet curtains. While I was sitting in my area changing strings, Jeff Beck was right on the other side of the curtain practicing for much of the afternoon. It was a pretty surreal afternoon for me.

What’s your philosophy on tone?
It really is in the hands. For better or worse, after a few minutes with a guitar and amp, it’s going to sound like me. Of course certain gear will enhance the sound or inspire better performance, but it will still be a variation of ‘your’ tone.

Scott's Collection can be seen at:

http://www.premierguitar.com/Magazine/Issue/2009/Jun/Premier_Collector_12_Vintage_Grails_Boutique_Beauties.aspx

Professor Thump · August 12, 2009

After the fall...

This article suggests that values have dropped by 30% from 2007. You can see the article here in this free digital copy of Premier Guitar.

http://digital.premierguitar.com/premierguitar/200908_1/?u1=texterity

Professor Thump · August 14, 2009

Collecting

Vintage Guitars Worth The Money

Zachary Fuhrer, 08.06.09, 07:30 PM EDT

Along with the stock market, prices of iconic axes have dropped as well. Now is the time to snap up the instruments associated with legendary performances.

In Depth: Vintage Guitars Worth The Money

At midnight on Sunday, Aug. 17, 1969, Jimi Hendrix should have been plugging in his white Fender Stratocaster in front of a crowd of 500,000 at Max Yasgur's farm in Bethel, N.Y. His performance, meant to close out the three-day Woodstock festival, didn't start until 8:30 a.m. on Aug. 18. By that point, more than 300,000 concert-goers were trekking down the New York State Thruway.

They missed Hendrix's interpretation of "The Star-Spangled Banner," which still resonates as one of the most important musical performances of the 20th century. The 1968 Olympic White Strat that Hendrix played that morning currently sits in Paul Allen's Experience Music Project/Science Fiction Museum and Hall of Fame, after the Microsoft ( MSFT - news - people ) co-founder spent an estimated $2 million to acquire it.

In Depth: Guitars As Investments

Those with slightly less buying power than Allen were every bit as inspired, as thousands of enthusiasts began seeking out vintage Fender Stratocasters in the 1970s. A late-'60s Strat, originally worth a couple hundred bucks, could be sold for as much as $30,000 more recently, according to Harvey Moltz of Rainbow Guitars, an Arizona-based vintage and modern instrument dealership that opened in 1975. For the past 35 years, collectors with cash have invested in 1950s and '60s electric guitars, with some items, such as a '60s Gibson Les Paul Jr., appreciating by as much as 500% after six months of ownership.

Currently, however, the vintage guitar market is down, alongside stock prices--which means opportunity for those eager to get in the game.

"Now, the baby boomers that bought the guitars are selling them back," says Moltz. With prices dropping as much as 40%, Moltz finds himself stocking his storage room with vintage guitars for the first time in 30 years. But Moltz doesn't buy just any old guitar. Besides being in mint condition (with original parts, electronics and paint), the guitars must be tied to an artist or event that resonates in the modern popular conscience.

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That sometimes means stocking up on 1980s ESP guitars, like those played by Metallica. While such guitars hold value now, particularly with today's wealthy who loved metal in their youth, the value of shred-friendly guitars is likely to fade as the collectors themselves age. But Woodstock- and other classic-rock-associated guitars are likely to increase in value yet again. This is due in part to a slew of musical releases and merchandising efforts put forth by Warner Bros. and event founders Joel Rosenman and Michael Lang in preparation for the 40th anniversary of the Woodstock festival.

Even with prices currently more affordable than in the past, with a '56 Gibson P-90 Les Paul Gold Top dropping from $80,000 in 2007 to as little as $35,000 now, be cautious with your cash: A year's difference in a guitar's manufacturing date can affect the value dramatically. After the Beatles' 1965 North American tour, electric guitar production increased astronomically, and manufacturers often cut corners to meet demand.

Specific guitars with a connection to history, however, have a better chance at holding their value. Jefferson Airplane's Jorma Kaukonen, for example, was known for his early '60s Gibson ES-345, a jazz guitar with a stereo output and a varitone, a device that hollows out the guitar's sound in the mid-range.

"The neck pickup would have had my fuzz tone doohicky, and the bridge pickup would have the VOX cry baby [wah wah pedal]," says Kaukonen. While he usually played a red ES-345, at Woodstock he opted for a mid-'60s Black ES-345, a much rarer find due to its color. Red or black, however, use of the guitar resulted in a haunting lead on "White Rabbit."

While some guitars may increase in value over time, few instruments will exhibit the long-term value or prestige that Woodstock instruments will, despite their current (relatively) low prices.

Says Woodstock creator Michael Lang, "It was the right message at the right time, and the right sensibility."

In Depth: Guitars As Investments

Professor Thump · May 2, 2010

In case you are not keeping up in the blogs I have been writing, here is an Index of the key links for Rock n Roll Gig Gear and Backstage behavior:

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Getting the Axe: Guitar Collecting Can Rock Your Investment Portfolio

Chief Executive, The, Nov, 2005 by Mac Randall

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Collecting

Vintage Guitars Worth The Money

Along with the stock market, prices of iconic axes have dropped as well. Now is the time to snap up the instruments associated with legendary performances.

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