The outlook for used gear in 2024 - Used Guitar Apocalypse?

Non-vintage used guitars may be in for a price reduction, here is my observations as a guitar store owner and the reasons why.

[@MattTee1975]

Noticing this on Craigslist. Tons of gear, all the same things have been listed for over a year, and every seller is saying, "I know what I have, no lowball offers!"

[@houseofshred3725]

"Sorry, bucko. Your dinged up 6506+ ain't worth $1,500 anymore."

[@GarysGuitarsUSA]

It clogs up the market for sure.

[@slackers_unite]

Honestly, when there are these new low cost brands making guitars as good or better than the quality of the Squires and Epiphones of the world, those used guitars will sit on FB MP and eBay and Reverb til they rot.

[@stahliwood8755]

I ordered a firefly strat for 189 bucks it had a bone nut,locking tuners, nice canada roasted flame maple neck. I put lollars in it, a new jack. It's one of the best guitars i own ​@slackers_unite

[@slackers_unite]

@stahliwood8755 I bought the IYV-350 for under $200. That thing plays, sounds, and looks incredible. I'm not touring the world so I can't see paying a couple of grand for a guitar that I play a few times a week.

[@tmoss89]

God bless u for telling the truth brother .

[@TheMoneyMakingMentor]

I like your shop. Looks old school.

[@charlie-obrien]

It looks like the guitar shop I frequent. Good used selection and off beat brands hanging on the wall.

[@marksaulnier2222]

Market corrections are necessary. Don't want rhe hair cut? Stick to the original plan, love it and play it!

[@santosmadrigal3702]

My observation is there is an endless supply of 59 Les Pauls .Hmmmmm .

[@thomaslthomas1506]

Truth. I don't collect stuff. about the only time I sell a guitar is when I get a guitar stolen flying thru Newark .....Then I get a new guitar. Go figure.

[@dekalbes335]

That's right ! .....and the Sun will shine again. Hang in there be patient.

[@snoopywalker1881]

Play what you love

[@mollirodhaet7224]

This is my mantra. I have owned up to 200 instruments at a time, now down in the 30 range. I love everything but a couple special purpose things I guess I kept for weird romantic notion.

[@Grap3_S0da]

People are so silly if you buy an instrument just keep it. I have never viewed my instruments as an investment or something

[@maykolllopez1585]

You see I have a wife, and a lot of pedals… so I have to have a rotating door of pedals. As for guitars I only sell if I’m upgrading, tube amps don’t get sold.

[@joeshoe6184]

That's great for you, but remember, it takes all kinds to make the world go round...

[@Nattydaddie]

That’s a ridiculous thing to say.

[@user-pk2lu6qn6v]

There was a time of yard sales and thrift stores, now everyone is intoxicated with antiques and collectables. I'm looking forward to the guitar apocalypse, it's a restoration of sanity. Perhaps people can enjoy inexpensive things someday again. In the end a rare beany baby is still a stuffed animal.

[@Scynthescizor]

Yep, and no-value-add resellers/scalpers ruin everything, keeping artificial scarcity.

[@danyreese2052]

Reminds me of sneakers

[@adrianmcgrath1984]

Sadly the days of bargains are over. Pawn shops, consignment stores, estate purchasers etc. can check whatever it is they have on the internet and assume a price they think they should be getting. And it's not helped by people who will snap anything up if they think they can flip it for a few bucks.

[@Taeodoestech]

@@adrianmcgrath1984the reseller market is way out of hand

[@maidenthe80sla]

Speaking of thrift stores! I scored the other day and picked up a Harley Benton Vertical 2x12 Cabinet with Celestion V30s that was tagged at $49.99. That would be the less than the cost to ship the cabinet. Thomann has them listed at $259, plus $80 for shipping. Buying guitars and gear used or with excellent discounts has saved me a lot of money over the years.

[@katielowen]

You remind me of my friend Todd that passed away. He was one of my most supportive and helpful friends and had a really laid back /welcoming vibe like you have 🙏

[@LoveOneAnotherHeSaid]

I agree. The same price shifts are happening in many consumer long-term products. Music gear is always difficult because people are foolish buyers.

[@deaterk]

Love One - people are *emotional buyers. ✌🏼🤟🏼

[@brushstroke3733]

​@@mablesfatalfable6021I've had my Les Paul since 1991 and have always loved it. It's rock solid and plays and sounds great. But if I was buying another one now, I'd probably get a Heritage.

[@ShannonRamos]

No matter foolish people are the current economy and number of job layoffs are no joke. My home-owners insurance went up 200% last year.

[@bryanfinkell9022]

​@@ShannonRamosWho did you vote for ?

[@mikekrause910]

​@@deaterksame thing

[@StillLivinginthewoods]

I went into guitar center in early 2021 with some gear to sell, expecting to walk out with around $400-$500, and then walked out with $1000. I went back to the same guitar center late last year with some more stuff to sell, again expecting to get around $400. They wouldn't even buy most of it. Knowing that it's more difficult to sell used stuff nowadays, has forced me to stop buying as much new stuff,..so it's probably for the best anyway.

[@ericheine2414]

When the economy is tough and you need money is the hardest time to get money for an instrument. Unless it's a really cool vintage item. They always bring money. 97,000 strats on sale- right now on the internet.

[@mchammer1836]

🤪🤪🤪

[@ToLiveistoDie]

Guitar center is doing financing on used gear. That tells me all I need to know. It's gonna get ugly out there.

[@capnjames]

@@ToLiveistoDieGC is pretty trash but thankfully they horribly undervalue gear that was cheap to begin with. I got a half decent stereo delay mini pedal with tap tempo for $20 yesterday after wandering into a GC. It’s not exactly fancy but between Reverb, Aliexpress, Amazon , and eBay it seems to retail for $45-$91 and the only forum post I can find on it say it sucks, so I’m assuming guitar center probably gave someone $10 for it. Most of the settings DO kinda suck and there’s no way I would have bought this piece of gear if it was $50, but I tried it in the store. it has various effects+a delay and 2 different mix knobs so there’s some sweet spots in there. I Can get an experimental vibe going and stack it with other delays and make it sound wonky and In my book that means it does what it needs to do 👊 I think the rise of half decent inexpensive gear in general has probably affected a lot of what we’re seeing with the market.

[@robertcarey3383]

I bought a Gibson SG new with case in 1984 for $299.00 at Guitar Center....how much do you think it is worth now.

[@JS-nf1sn]

Exactly. I don't know why everyone thought it would go on forever. It's a great time to keep the guitars you own and enjoy them. A year from now it will be a great time to buy the guitar you've been wanting if you can afford it. Compared to other hobbies, guitar playing/music is still really affordable.

[@Guitarrulez]

A year ? 😂😂😂😂 lol Dude youre in for a hard wake up all.

[@charlesbolton8471]

@@Guitarrulez Every year is THE year to buy the guitar you’ve been wanting. I guess you missed the most important part of his comment, “…if you can afford it.”

Guitars deteriorate unless they are stored in a humidified environment. In dry AZ where I live it really does destroy them.

[@ultrajayme]

The utter BS that happens year after year with ski/snowboarding passes is a great example of "go f*** yourself." So yes playing guitar and other instruments can be more cost effective. Until you get into the world of synthesizers.

[@musicman6610]

I call the diff the “rental charge” and divide by the time I owned it. Some gear I rented for $200 a year…pretty good.

[@TheWeathermanJR]

I rented a Les Paul custom for 3 years for a total of $17. Not bad at all.

[@BarronVonSchnoot]

I do the same thing. I also equate each hour of play to $1. So, if I buy a guitar for $1000, play it for 300 hours, then sell it for $700, I feel like I broke even.

[@rockerbuck967]

These are all great points. The biggest one is "Well, this is worth X amount!" People need to get that out of their heads ASAP. The store owner I buy from once told me "The minute you buy a new guitar and walk out the door with it, it's pretty much "used."" Worth is in the eye of the player. It has to be THAT special to get back what you paid for it. And if you gigged with it - guitar or amp - it's been around - so it's used. This is why I'm SO careful with what I buy, and that I'm really sure I really need this item. I spend as much time as I can with the product at the store, and go over it with a fine tooth comb, and if there's anything gives me the jitters, I put it back. I've known the guy I buy from for years, and while he's a great guy, in the end he's a store owner first, and a friend second. As far as Guitar Center is concerned, they're known for selling factory "factory seconds," so I stay out of there if I can avoid it. I just don't trust them enough, and the sales people know next to nothing other than "Push sales." This gentleman here - I'd buy from him for sure.

[@motomarmot6544]

What do you mean about factory seconds?

[@neilburton6121]

To be fair I have bought and sold guutars(private) for 40 years and never made money on any of them,lost a lot in some cases and lost a little on some....but never made.....

[@kellmerWF52]

@@neilburton6121 yep same here

[@audiophileman7047]

The potential for a Used Guitar Apocalypse doesn't faze me at all. I bought all of my guitars to keep. I don't plan on selling any of them any time soon. This could be a great time to buy the resonator guitar I've been wanting for a long time. 🎸🎸🎸

[@bluesdawg8014]

I've been playing for decades and been collecting the same time period. I bought 3 Dobro resonators, I'm a Blues Player so I figured it would be cool. I got bored with the guitars and sold them all. It's a great sound but just not usable 100% of the time. Play on

[@sted123456789]

Exactly. A good time to buy. It's all like trading stocks and shares, buy when the trend is to sell and vice versa.

[@audiophileman7047]

I love the sound of a resonator, and the blues is what I strive to play. I'd get one resonator and would definitely play it, because I love songs that use it. I would play it a lot, especially with a slide. 🎶🎶🎶@@bluesdawg8014

[@audiophileman7047]

Yes, it's the "buy low and sell high" strategy. The not so easy part is knowing just exactly when to buy and sell. That takes some thought, but we're entering a soft economy right now. The prices could be even better in 2025. 👍👍👍 @@sted123456789

[@gregoryporch8395]

Amen. I've lived on a low budget with high motivation. I bought my Jackson the last time I worked a 50-hour week. I "get what I pay for" every time I get an hour to surf the fret board. The next guitars I buy will be for my kid

[@glencooper1091]

I appreciate your perspective on this and I totally agree.

[@burnindownthehouse]

Good video. I started playing guitar 28 years ago. I still play every day. I always reminded myself of just how much guitars depreciate. Always keep them if you can, even if you're in a financial bind. So when I bought my first brand new decent guitar in 1997, a Gibson Les Paul Studio Lite, I told myself, "You're keeping this... forever. And you're going to like it." And until this very day after 28 years of play, I kept it and I liked it. Same thing goes for my Fender Custom Shop American Standard Strat. I bought it new a decade ago and I kept it and I liked it. So my best advice to younger musicians out there is to buy a high quality new guitar and hold on to it. You'll be happy you did.

[@nervotica7991]

Problem is: Even the cheap guitars are high quality nowadays compared to a few decades ago...

[@philosopherofkaos8829]

@@tylerhawksmoor9601But you’re missing his point. He kept one piece of gear for literally 28 years. And at the end of the day a guitar is a guitar. I have been doing the same thing. KEEPING the stuff I have longer and just playing those rather than shelling out for new guitar and new gear every year. Because whether it’s on my Jackson Pro Series Dinky or my LTD Alexi Ripped I’m still jamming to children of bodom. But as I’ve started to hold onto them longer I can afford down the road a really nice BIG purchase and still keep the things I’ve been jamming on for 2/3 years. (I’ve been playing for 25 years myself) if I could go back I wish I just hung onto the GOOD stuff I had longer and just ripped on that rather than constantly buying and selling buying and selling new guitar or gear while still ripping on the same songs. Less is more and eventually less becomes a killer awesome purchase.

[@tylerhawksmoor9601]

I didn't miss his point at all, I just don't think he ever really made one in the first place. you're preaching to the choir my man- I still play my first guitar as my no.1, a PRS SE I got for $600 12 years ago.@@philosopherofkaos8829

[@richconroy5559]

I literally had to sell every bit of my gear in 2010 or I would have gone homeless. I've never truly recovered and I've never played again

[@brunito531]

Thanks for the video. It's the same over here in Switzerland - we have been in business for decades, but the market situation changes...

[@AB-wy7dr]

Really good summary I thought. Best of luck and hope your shop thrives.

[@TheTickingClocks]

Very genuine and sincere commentary. Got to appreciate that. - Manny of The Ticking Clocks

[@goldog2816]

Thanks for keeping it real, I'm glad you made it clear we are just beginning the slide if you really need the money take what you can get now otherwise you'll be waiting for the next cycle which may be a few years, it's already started across several markets, I just walked into a Mini-Mart today and seen 3 and 4 dollar prices on the smallest sized snacks and candy bars for everything in the store, it just gave me an overwhelming feeling we are ready for a big price adjustment, the Only people telling you otherwise have something to sell, good luck ............

[@StreaminFreedom]

Thanks great to hear the perspective of some who is seeing the volume you see.

[@Raquibo]

The kind of KZbin commentary that's informative and down to earth, much appreciated.

[@tomasodriziola]

Also extremely self serving.

[@bks252]

Great info. Thanks for sharing this perspective from a business owner.

[@tomasotomaso4936]

I love your frank, plain way of saying what’s what, not claiming to be anything more or less than the simple truth as you see it in your store. I thank you, man! Keep on doing exactly what you are doing.

[@MarkCook-tl8po]

That was useful for me to hear. I'm getting rid of my Mesa Boogie ,22 today. Thank you.

[@juliankirby9880]

Just sold all my extra stuff to guitar center, got more than I expected, they have like 15 used red double cut semi hollows of varying size, brand, and price point all on the wall. Next to that. Same thing for Strat shaped guitars. Then another line of Les Paul shaped things. Then another of pointy strats. All used. At every price point from beginner Amazon brands to gibsons fenders and Gretschs. They got used practice amps from Amazon bundles for 20 bucks all the way to boutique vintage replica stuff just on the floor. Fender rumbles in all wattages just stacked on top of each other. Oranges too. And Marshalls and fenders too.

[@brightworldmusic2114]

Sounds like I wouldn’t be able to choose at that shop !

[@juliankirby9880]

Same. thank goodness I was not going in to buy! I would have been overwhelmed trying to choose something @@brightworldmusic2114

[@JohnHorneGuitar]

Back in the 80s when I first started playing guitar a lot of sales people told me and my parents that buying a guitar was an investment and instrument would only appreciate in price. I’m sure that was true with certain older instruments, but what a sales technique!

[@Official_KC]

That's interesting because I feel like the 80s is seen as the least desirable decade for guitars these days. I might be wrong though. There's obviously tons of 60s and 70s high selling ones, but there's some Japanese 2000s ones out there too. I don't see much for the 80s, but maybe in certain genres its popular and sought after

[@pmscalisi]

Those guys should be sued 😂

[@duanedorow3981]

Thank you for sharing your insights and observations. The guitar market has so many angles that hearing from an experienced shop owner is very interesting. You're serving so many customer types! From my naive perspective I wonder what the big inventory boost of entry-level guitars from 2020-2023 will do. I am part of the population that this commentary speaks to. I bought a new Gretsch Jim Dandy from a local independent shop, for my daughter(mostly me). And then 3 months later bought a used guitar from GuitarCenter. I'm enjoying the used guitar and making music. - reminding myself I will stop at local shop first for immediate needs and talk to them as I hopefully grow in my playing. Thank you again.

[@shawnhutchings5931]

I completely agree with you. Your video is right on. I check used prices on gear all the time and the prices that people are asking for their beat up (=used like new in their eyes) is ridiculous! I see it all the time. People are so outta touch with their asking price. I see this all the time, especially with old music technology. Like drum machines, 4 tracks, old Roland gear. They’re asking, most times, what you could buy it for new back in the day. They slap the word ‘vintage’ on it and expect full asking price. Again, so out of touch with reality. But that seems par for the course these daze!

[@matthewrowles6881]

It must change by location cause in my area guitars are stupid stupid cheap, all over marketplace and they sit for 6 months with no buyers at near giveaways. I just bought a super clean mid 90s Ibanez EX350 for $80 and a couple days later picked up 3 8inch practice amps all 3 for $30.

[@theliesisire7485]

It's not just the sellers. It's the buyers too and not just with instruments but with everything; People don't want to pay a fair price either. Everything has to be given away for virtually nothing. Even with cheapest of items. Try to sell something for 5 euros and no one is interested. Give it away for free and someone is at your door within 30minutes to pick it up.

[@bricebowlin8834]

That's because of eBay and reverb and such. I swear. It's got all the instrument markets jacked. Everyone say well this is what they're selling for. most times they're not smart enough to toggle the filter to already sold items and what they're looking at is asking prices

[@thebenefactor6744]

Used gear never used to go for more than 60% of what you paid for it. What are these people smoking, thinking they can get 90%?

[@sted123456789]

It all depends on how much a person paid for something. If you buy at the right price there will always be profit in an item no matter what it is. I've traded maybe 100+ guitars in the past 2 decades. I've lost on maybe 3 or 4 in total. Some I have made 300% on and I'm not talking cheap items. I tend to buy stuff that is limited run though. If I thought I was going to return 60% of a used item I bought I'd never buy another guitar again. I have to point out that I don't buy to sell, I buy as a collector but my tastes change. I may get into Strat's and buy a few, next I'm back into LP's etc etc. I move pieces to fund new purchases. Back to your point, so if a person expects to return 60% of their outlay, what about the resale price when that buyer sells? Does it drop again? Not always. When an item becomes cheap enough a trader will always buy to sell at a profit anyway.

[@leebarbier5257]

Part of it is... have you talked to people who say "Anything that's 20 years old is vintage, dude!!!"

[@thebamfordman]

Sold my Strat for 100% of the new price second hand. About 10 years old.

[@markstevenson6635]

Inflation and demand both effect resale price. Seen any inflation lately? Yes, BUT oversupply trumps it.

[@TheHesseJames]

When people buy a five years old guitar from me that I bought new they get a much better instrument than it was at day one.

[@markallen381]

It's funny, I looked at this video and said "Hey, this place looks familiar". Yup, in Portsmouth, New Hampshire.

[@dvs6121]

Good advice and a timely video. Thanks Mark.

[@ZELENKAPB]

All of this is so true. Every word. Thank you so much for posting this video, I hope it restores some sanity to a lot of people.

[@karlevans1961]

This isn’t just guitars, the bicycle industry is imploding too, and the same can be seen in outdoor/camping gear. I imagine many recreational industries are having this issue as folks took up more hobbies in the pandemic, so supply went up at a time that they weren’t able to scale up manufacturing. Now not only is there too much supply from over ordering, but a lot of those folks that thought they were going to pick up a new hobby are putting it down.

[@asdf9890]

Yep, I’m also a mountain biker, since the 90s. My bike got stolen right before the pandemic and it took me a year to find another.

[@user-vk3lk1zf3g]

The used equipment market is wild in my area at the moment. I bought a used Peavy 400-watt bass amp for less than $200, I also bought a 40-watt Marshall guitar tube amp for less than $350. I like it because this is equipment that I would otherwise not have access to in any other timeline!

[@brushstroke3733]

Sounds like I need to start shopping!

[@peony519]

​@@brushstroke3733 that's what I'm thinking

[@matthewrowles6881]

Where I live it's a f ED ng frenzy guitar stuff is insanely cheap and all over for sale.

[@user-vk3lk1zf3g]

@JustJ-gs3rx Yeah a lot of people seem to think they dictate the value of a commodity and not the market. Those people are in for a hard shock in these times. Honestly I don't care what the literati says, we're probably in a recession in the United States and to raise capital people will get rid of things they don't need. It is a buyers market not a seller's market.

[@shlebmo]

Yeah but some of those Marshall amp are garbage. In fact, many amps that they sell nowadays of garbage you have to really look to buy something in quality that will last that are built with little printed circuit boards are not quality and the market was flooded

[@GuitarTraveller]

What great coaching for anyone wanting to understand what's really involved in MI retail - big picture and store-specific. Brick and mortar guitar shops are a music-culture treasure. Keep up the great work, Mark.

[@Luthiart]

I think it was easy enough to intuit that the banner guitar sales during the lock downs would ultimately result in a future glut in the used guitar market. Impulse purchases tend to lose their shine before too long. Especially when there's work and learning involved.

[@ShannonRamos]

It's like how all the neon colors, spandex, and cocaine must have hypnotized 80's shredders into thinking the vintage Fender and Gibson gear was old hat. I watched a G.E. Smith video where he talked about how abundant and cheap the vintage stuff was in the 80s, really wish I wasnt a toddler then.

[@stephenfewell6088]

Reverb is the problem - insane prices

[@sted123456789]

I agree to some degree, however some sellers don't "need" to sell so they list at top prices. At the end of the day it only takes one buyer to make a sale. Just b/c one seller has an item listed at top price doesn't mean other potential sellers have to advertise at the same price. It all depends on how badly some need to sell, I've seen some bargains on there too. The past decade has seen prices go a bit silly though.

[@23kyd49]

This guy is spot on. People bought foolishly and if they bought foolishly, they’re probably going to be foolish about the price they can sell. There’s something dumb as shit about posting a guitar near or about what someone can buy new. What are you going to do? Expect to lose 35% right off the top as soon as you purchase a guitar. I’ve done really well on Reverb. Not lately though. I won’t buy new gear anymore. The depreciation is worse than a car.

[@chrisclassical7]

as a seller on reverb i have the right to list an item for what i want. as a buyer on reverb you have the right to buy or not buy as you choose. the problem you see with reverrb is that the guitars you want haven't reduced to your pricepoint. so now reverb could just as easily say stephen is the problem, he is looking for insane deals.

[@chrisclassical7]

@@23kyd49 if someone is only into gear for a few grand there is really no pressure to sell. the bargain hunter is looking for the occasional listing that is priced to sell fast, that takes a lot of work.

[@Ruefus]

Reverb is not the problem. They don’t determine prices. The sellers set the price and the buyers decide if they want to pay it. You can ask whatever you want. Whether or not it sells is the market’s decision.

[@MarkBarna1]

I've picked up a few boutique guitars for major discounts on Reverb in recent months. If you know what you want and track the market, the deals are out there as people get desperate or fed up and just want to sell -- even really, really nice guitars that would be $1,500 more otherwise. I did have trouble selling one of my guitars on Reverb and ended up off-loading it to Guitar Center to avoid all the Reverb fees. So, yes, buyer's market, not a seller's.

[@littlesnarf]

Totally. I'm not even in the market for a guitar. I barely play my 3 electrics. But when I go on Facebook Marketplace it's like "wow, cheap". Part of it is that I'm older, have cash to spare. I'll admit that. The prices really have dropped, though. This guy dropped the price on this custom Jazzmaster (early 80's body) that has been on Marketplace for what seems like well over a year. If he lowers it again I might buy it. It's the same for bikes. I'm shocked people aren't buying some of the bikes I see. Perect bombproof commuters/touring rigs. The only reason I haven't bought them is they aren't local.

[@Tonnsfabrication]

We're in an inflationary depression, everything that you need will become more exspensive and everthing that you own becomes worth less. Everyone and thier brother will be flooding the market with the same items trying to overcome the same inflation all at the same time.

[@leebarbier5257]

I disagree... the guitar market just got way out of hand when everybody was shut in and I can't believe corporate honchos thought that was the new normal... but they did!

[@ShannonRamos]

@@leebarbier5257 Dude from the pawn shop sez different and that there are so many people with expensive items they are willing to sell for really cheap that the pawn shops collectively can't buy it all.

[@ShannonRamos]

Word. It's already started.

[@Tonnsfabrication]

@@ShannonRamos They're ( US government) pumping in one trillion dollars every one hundred days to keep this thing together. Its not going to be long and it will be a trillion a day. The reset is here, people are going to feel it in more places than at the grocery store and the gas pump. We'll need to keep at least one guitar to play the blues at that point.

[@stuartmoore6310]

​@@leebarbier5257they typically only look at the next quarter or so trying to ride a trend or get ahead of it.

[@dancotterman1267]

By the way, very good information well done and much appreciated. Thanks for the overview state of the union of guitars. Rock on!

[@epicproportionsmediaproduc6697]

Guitarmageddon has a better ring to it.

[@milotin2755]

Pre COVID I never had any issues selling used guitar's post COVID it's almost impossible unless you put them at a crazy cheap price

[@alexraia1377]

Really depends on the guitar though… it does seem like everyone is selling things and less interested in buying. But if you put a vintage guitar up for sale you’ll sell it quick.

[@stevec.1802]

Excellent topic, Gary. valuable information you won’t learn out of a book or in class. Asking price and selling price are important to understand and comprehend. Know when to hold em and know when to fold em.

[@arthuralzamora7331]

Nice - thanks for the video. I’m converting my 5 ton to a dumper also - I went for the hoist already mounted to a frame.

[@roytube10]

great video and topics. nice to hear a real shop owner talk about reality.

[@petercontarino646]

Excellent video. He has just described the market realities of virtually every collectible.

[@kellmerWF52]

Collecting, Unless your are really rich. is a suckers game, I mean look at beanie babies

[@ralex3697]

Recession going on, need to wait for better times

[@MayorMcCheese2000]

NAILED IT! I appreciate your candor good sir!

[@mikepretorius6350]

Sound advice told like it is, cheers and all the best with the business 👍

[@nickdryad]

There are two solution to this problem. We need more guitar bands and more venues.

[@gregoryporch8395]

People expecting to get their money back should be expecting to get their songs written after playing the thing.

[@JohnFlynn-zh4mk]

maybe more people who want off the internet?

[@Mojoman57]

I'm digging it. My LMS sells most used pedals for $99. They are nearly always mint.

[@clyderichardson6475]

Thanks! Helpful information for us.

[@JayRCela]

This is an excellent video, thanks for your clear explanation.

[@Santaheckler]

I do some personal buy/sell and what I do sometimes to get my money out of something that’s hard to sell is trade it (trade in value is always better than cash) for something that’s much easier to sell (even if ya have to put a little cash on it)…then try not to make those purchases too often. 😆👍

[@ratwynd]

I buy it to play it mostly. Once in a while will buy as an investment if it is stupid cheap and easily resalable in any market (think Gibson or other desirable USA made).. But I still want to be able to play it as well. Have made many trades, mostly with the idea of "Improving the Herd" and have worked up to much nicer stuff (Did a no-cash trade for a new Martin D35 a few years ago, traded a Fender and a Gibson, 2 for 1. Will NEVER sell the D35 as long as I can play it, she keeps getting better). Trades + cash will always get the best deals. No sales tax usually on the trade in value either, if part cash. I love local shops like this.

[@jerrypalmer3534]

Unfortunately , as times get inevitably harder, guitars will be really really inexpensive...Buy it because you love it, Buy it to play it !!

[@alexraia1377]

Nope. Prices will likely go down or level off… I think if you look at the trends, less people are playing guitar every year. I work at a music retail store, and I can tell you our biggest customers are not young family’s looking for instruments for their kids, it’s old guys who are retired. It’s a good thing for guitarists because gear will inevitably getter cheaper with less demand for it.

[@jerrypalmer3534]

Don't agree..I also worked in a music store during 9-11 and it took years to get back..And truthfully, it was never the same..Tjere is an over abundance of guitars right now, to many I think..I hope you are right but I don't think so,,@@alexraia1377

[@alexraia1377]

an over abundance of guitars if anything would decrease prices! That's at least how most things go, big supply = lower prices@@jerrypalmer3534

[@ShannonRamos]

@@jerrypalmer3534 Interesting info about the post 9/11 economy. When billionaires are selling billions in equities and building luxury bunkers what do you think they know that we do not?

[@jerrypalmer3534]

@@ShannonRamos I think if anyone is paying attention, they know what is going on if they will take their heads out of the sand......

[@user-wt8tm2jw9p]

Nice to see guitar related videos made by someone who really knows what he is talking about delivered with candor and honesty.

[@JohnKeyser]

Very enlightening. Thank you for your honest opinion.

[@shoer5151]

So true !

[@hoganshideout]

Please bring the live show back with Gary in the original format.

[@allstopblue5717]

Thanks for the honesty

[@extrememike]

Great insights! Thanks for sharing.

[@jamesmarkham7489]

I casually buy and sell gear. I find that the most common models are taking large price hits but if you find more uncommon stuff you can still sell for at or more than you paid.

[@AssabetStrings-xw3ms]

40% of my market is over 55. Less that 10% 25-34. The demographics are driving used instruments into the market as well as everything in the video while the market is shrinking. The boomers are on their way out. Asian reserve capacity is huge. Unless your instrument is vintage & collectable, it's likely to be a write-off.

[@PcBguitarLibrary]

It boggles my mind why guitar stores only sell guitars considering how many different types of stringed instruments exist in the world,, the death of rock music, the new multi ethnic demographics, immigration and younger generations being exposed to all genre of music. If Guitar Center sold Ouds and Sitars and Chinese zithers, violins,banjos, mandolins, harps, classical strings, Persian instruments , etc etc Id buy those, But I ain't buying another damn guitar

[@kellmerWF52]

@@PcBguitarLibrary I liked the old shops, they sold guitars and other instruments, albums, music books, pot paraphernalia, posters, etc, you have to be diverse to make money, small ticket items can pay the rent, and big ticket albums can be gravy. you can't just sale one thing anymore

[@TJames69]

Thanks for the boots on the ground perspective.

[@kaymeddings4162]

A long listen, and worth every moment! Sound sense!

[@6lu5ky86]

10 minutes is long? Might wanna loosen up your schedule a bit.

[@ToddChaddingtonEsq]

the exact same thing happened with the cycling industry. i make my purchases for life so i'm not fussed, but lots of shops closing and brands going bust.

[@joeMW284]

I bought a Squire Strat last weekend for $40, put 62-13 strings on it and set it up to B standard. Having a blast riffing on it. It's a great time to buy a cheap guitar to try setups you always wanted to but were too cheap/broke to actually do it.

[@brushstroke3733]

Played a Squire Tele at a guitar center about a year ago. It was $160 new (maybe even $140) and much better than I expected. I considered buying it, but I don't have room in my apartment to keep it. If I see one for $40, I'll have to find somewhere to stash it.

[@hardlines2635]

I’ve had a squire strat for years, upgraded to a fender, after a week I returned the fender, bought a gold reissue squire and after a few tweaks I’m well happy with it, people can be guitar snobs, I was one.

[@matthewrowles6881]

I just got a mid 90s Ibanez Ex350 last week for $80. Barely a scratch on it

[@brightworldmusic2114]

I’ve had fun lately finding and trying cheap diamonds in the rough. So many odd string combos you can try.

[@victotronics]

Nice summary. Seems like I bought last week at the right time, and I should not hurry getting rid of the instrument I don't need any more.

[@clayton56tube]

when I was starting out (80's) the rule of thumb was to ask half the price of new for a used instrument. And I bought used for half of retail. Later I was amazed that on Ebay I often got 2/3 the price of new, or sometimes more than new if it was something unique. Recently I was moving and listed a MIM telecaster for half what I paid and the buyer was thrilled.

[@lynguist]

same with bicycles, but at least here in germany i cannot see any noticeable price reduction at the moment.ebay is overflowing with stuff, but the prices people are asking for are insane.

[@fixedgear37]

Because any good deals sell instantly. So the high price stuff just languishes and make people think prices are insane. “It’s selling for $x” no, it’s for sale for $x if it was selling for that it wouldn’t be there.

[@cnilecnile6748]

As a small builder, making only 3-4 guitars per year, this glut has hurt me to the point where I don't even list anything for sale any more. My Reverb store is, and has been, empty for a couple of years now. And it's because of inflation, and high fees. I can't pay 675 bucks to turn out a guitar that I'm trying to sell for 450. And I'm NOT going to "pass on costs to the consumer", because my target customer is working bar band players that need an American guitar for an Asian price point. I guess it doesn't matter, because the bar gigs are gone anyway, and what few are left are paying sub-80's rates.

[@brushstroke3733]

Boy howdy. The live music scene is dwindling and drying up, and the Asian guitars are catching up in quality thanks to CNC machines. Still, you could probably sell four guitars a year if you just raised your price to boutique prices. People want to pay a lot for things - it makes them feel special and exclusive. That was how PRS broke in to the market and grew to be one of the big brands. It's also how Tesla succeeded in electric cars where the big car companies had previously failed. Unfortunately, your customers will be lawyers and financiers instead of working musicians, but at least you can keep doing what you love.

[@brendanoneil3489]

Agreed, $700 seems very cheap for a USA hand built guitar, if they are high quality sound and feel then two or three times that, at 4 units a year it will be a very niche market, no need to pile them high and sell cheap. Maybe better marketing and time for a rethink . @@brushstroke3733

[@rdhudon7469]

I think 6 for a well built custom is a steal . Also we need craftsmen like you to encourage kids to get into building . Try selling a couple for a price with a little margin for you and see what happens. I was looking at a Peavy Cirrus 4 . It was once a $500 bass and are now selling used for $2500 and I would buy a quality custom before I would pay that . Even if it is a sweet bass.

[@Skoora]

Who tries to enter a budget market with a high dollar, boutique style small supply? Makes no sense unless you just want to build for local musicians.

[@shawnmartin4701]

You seem like an awesome old world mentality craftsman. This world needs more people like you in it my friend. I hope to find someone like you when I want to make my next purchase, which won't be very much longer. What part of the country do you live in?

[@rodmeisterful]

Well presented, thanks.

[@KordTaylor]

❤ Thank you! This is a really good point. I am in the music software biz and all of us doing recording stuff had huge sales that we are coming down from. I totally forgot that was also Fender’s best sales period too. So yup, this could be nuts. Fortunately won’t affect vintage I think. But yes thanks for calling this out. Oh the rain of Squiers! 😮😢

[@AlexHand]

It cracks me up to see these Craigslist ads with a guitar that costs $500 new going for $480 and they're like "You don't have to pay tax." Unless something is rare or collectible the most you can ask for used gear is about 80% of current retail price, even if that has dropped from when you bought it.

[@pmscalisi]

How about 50% instead?

[@kellmerWF52]

@@pmscalisi 40% is the devaluation of my current guitar, but I like it , so i don't care. If you are a serious guitarist , just keep trading up till you get what matches your talent level.

[@Crunchifyable2]

I think I'm at a point where I don't want any amps. And if I get another guitar, it's either going to be 75% off or something truly modern and ultra playable for sitting. No more giant chunks of wood.

[@matthewpower3062]

Im done with amps, been hauling big bastards around for 30 years, thankfully the last 10 have been using modelers.

[@marcseclecticstuff9497]

I have close to 50 guitars, all the basics: Strat, Tele, LP, SG, etc. covered. The guitar I pick up 90% of the time now? A cheap carbon fiber Enya guitar from Amazon. Weighs nothing and it's always in tune. Not the best sounding but perfect for my usual sitting around and noodling. It's also the only guitar I'll take out on my 10-15 day vacations I spend hanging out on my boat. I bring along my cheap little Positive Grid amp that I can run off a Li-Ion battery pack and play for hours. It's rare I turn on my Hot Rod DeVille anymore, just overkill for bending strings in my house. I learned long ago most of the magic is in the musician, not the gear. A good musician will make crap sound like magic and guys like me make magic sound like crap LOL....

[@pmscalisi]

@@marcseclecticstuff9497I feel your pain..😅

[@ralex3697]

Very candid, thank you

[@TizerWales]

I enjoyed listening to what you had to say, Gary. I'm from the UK. I ain't ever selling my guitars. I have an Ibanez EX370FM from the early eighties. Never lets me down. Although I don’t play them much at the moment, I love them all, and It is knowing they are there and I can pick up a different guitar depending on my mood. I even play The Gypsy Kings on an old nylon strung classical guitar. I'd never part with it because of that style of music. Then there is my Marshall TSL100 half stack. Only when I am dead will that ever leave me. What a monster, but its amazing flexibility means I can switch to any style that needs an amp. Long live rock 'n roll.

[@shiningumbreon4322]

There was a Gibson 76 reissue explorer sitting at my local pawnshop for the last 5 years. One day I finally decided to play it and it was a player! I had to have it. They were asking $1500 which I felt like was a pretty good deal, but I didn’t have the cash… so I traded an Epiphone sg custom+ $600 cash for it! Came with the original hsc too

[@mikerobo2112]

Awesome,hope it was toneful.

[@johnsmith-bk4ps]

Good move!

[@adamwatson6916]

An actual 76 reissue from 76 or 90s/2000s 76 reissue?

[@johnhartley3022]

If it was a 76 explorer and not a later reissue of that guitar you stole it

[@kellmerWF52]

@@adamwatson6916 I always thought reissue was recreating an older guitar

[@kerryewen3624]

If I buy a $500 guitar, I usually sell for $375 -$350 , quick sale , if possible I’ll offer the local music shop for the trade in and take a loss , I’m good with it , I call the loss a rental fee over a couple of years , gets it off the market and they can make a few bucks on the resale . no biggie at all . Dinner out for two is $150 .

[@ShannonRamos]

step 1= Stop buying cheap guitars it's a flase economy. step 2= Learn how to make delicious pan-seared steaks and buy some candels to set the mood. step 3= Profit

[@stuartmoore6310]

​@@ShannonRamosjust got to be that guy don't you?

[@pmscalisi]

@@stuartmoore6310😂😂😂😂 somebody has to do it 😂😂Lol

[@chuffa1130]

Thank you for posting, I was wondering if something like this was happening I'm going to hold off for a couple months, this is just late The bike market during the pandemic bikes are really cheap now people bought a ton of them and now want to get rid of them

[@peterfredrickmeyer]

This was a good one Marc!

[@nintendad1166]

Last week I spent $250 on a small acoustic for my kids. Same day, found the exact guitar + stand listed for $110 on marketplace. It had some noticable wear, but $140 is $140 so I returned the new one and bought the used guitar. With new strings it sounds great.

[@MichaelThomasOflaherty]

most guitar store or musical instrument stores in general take advantage of inexperienced guitar buyers and scam you with a higher price than the same guitar is listed for a sower price at another store for instance. always bring someone who knows about guitars with you to the store as your guide to buying a guitar thats more affordable but plays well and nobody gets board with the guitar hopefully

[@jasonbone5121]

@@MichaelThomasOflaherty The cheaper guitar was used. No one was scamming anyone.

[@dongkumong]

Calm down you wimp.

[@MichaelThomasOflaherty]

@@nintendad1166I was speaking from my experiences when buying guitars and getting scammed

[@morbidmanmusic]

No,... most guitar stores DON"T take advantage. What are you talking about...? Maybe MF doesn't.. that's it. Mom and pop stores don't do that crap.

[@Charlesbabbage2209]

The other thing not being mentioned is that guitars are getting really good. There is not as much of a gulf between midrange and high end anymore. A guitar is a guitar is a guitar.

[@johnsmith-bk4ps]

But id rather have a good guitar from usa than china

[@leebarbier5257]

also, only a small fraction of guitar buyers actually play gigs or play them in public... there is a different mindset between someone buying a work tool and someone buying something for personal enjoyment. The working musicians I know mostly look for and buy really good midrange guitars, for many reasons... but chiefly they can replace it if it gets stolen/broken/whatever, and life can go on.

[@colinburroughs9871]

there's still a significant difference between the midrange and top end when they get plugged in and turned up loud. That's always where the difference is. "My mini van is just like a sports car, 4 wheels, breaks, steering wheel"..

[@Charlesbabbage2209]

​@@colinburroughs9871...but at the end of the day it's still 95% down to the driver. At the end of the day, nobody is going to notice the difference between a well set up $1000-1500 solid body guitar and a $4000 guitar. Nobody is going to walk out of the club and say: "thank God he spent an extra few grand on that custom shop guitar, the songs would have been ruined without it."

[@colinburroughs9871]

@@Charlesbabbage2209 your first point contradicts your second point and neither have anything to do with the my point, there's differences between top end and mid tier guitars and they do matter, to the player if not the crowd, though depending on the context they very well might notice too.

[@danthegeetarman]

Cool video. Very interesting to hear it from a guitar shop owners perspective. I sell a moderate amount of stuff on Reverb, and unless it’s something very rare and collectible, it doesn’t go fast and for asking at all. Exactly like you said, if I pick up anything with an intent to sell it, I’m factoring in a slight downward slope and if the margin doesn’t make sense, I’m passing on the purchase

[@clayton56tube]

traditionally when I get interested in an instrument, I buy a variety and audition them and sell the unsuitable ones. I've done this with banjos, ukuleles, clarinets, etc. When I decided to add electric guitar I did the same but have only sold back one of them. As it turns out, they're all useful for the studio. I'm not primarily a guitarist so I have no particular type in mind that would be my signature sound or style. It's great having tools in the toolbox.

[@anthonymiller3970]

Meanwhile Fender just raised their prices on USA made Stratocasters $100 this week. Epiphone models are $1,200 plus an artist series made in China. I think USA guitar manufacturer’s make more profits off of Asian made instruments than their USA line of guitars. That’s what cheap labor brings. It’s kind of like what car companies are doing. They can make more profit selling you a $75,000 SUV than a compact car. So why make them anymore?

[@damham5689]

Fender/ Squire and Gibson/Epiphone price hikes will help boost sales of Harley Benton, Sterling, G&L, Schecter, Sire, even Firefly and Glary.

[@aesoundforge]

G&L is the best kept secret in the guitar world IMO. I have a bunch and their normal product is custom shop quality...@@damham5689

[@johnsmith-bk4ps]

I would never buy asian, buy an older model american

[@yvesbajulaz]

the cheaper stuff has become much better quality, market been flooded with it, factories pumping out instruments... same with horns...

[@kellmerWF52]

i can find a pretty good guitar for 500 now, the new cheap stuff is better than the old cheap stuff. and i'd say about 50% cheaper. I bought a Cordoba fusion from china, and I love it. this guitar would have gone for 750 to 1000 10 yrs ago. i paid 450 new, and it's list price was 675

[@limamarco]

Btw, nice archtops hanging from the ceiling! Is it Gibson L something the one next to the Rickenbacker?

[@JackZucker]

Gary, what are the details of that '70s 175 in the background?

[@GarysGuitarsUSA]

It's a 1968. $4999. You can check it out on our website.

[@IamMusicNerd]

Agree, but as usual, it really depends on the guitar. A brand new Epiphone Dave Grohl model is selling for $4-500 more than MSRP right now because they’re on back order and everybody wants them. An Epiphone Alex Lifeson from just 2 years ago sold for $899 brand new, but you are hard-pressed to find one for less than $1000 now. So recent off the shelf guitar models are dropping in price rapidly right now, but limited edition models still hold their value or go up depending on how limited the availability is.

[@johnsmith-bk4ps]

If its not usa made it wont be a good long term investment

[@DamienTheCat]

​@@johnsmith-bk4ps false, oldhead belief. South Korean Schecters play better than 99% of US guitars lol.

[@alexraia1377]

@@johnsmith-bk4psJapan has entered the chat.

[@allanwalli2935]

Recently bought a lovely Japanese made Sadowsky bass for 1500. About 15 years old, plays like a dream. Perhaps not a true boutique instrument, but its as close as I will get to one. I think it will hold its value just fine, but for me its a keeper.

[@losthwy]

No one is going to buy import guitars for USA money @@DamienTheCat

[@JackNiles]

A guitar is only worth what someone is willing to pay and that has the money in hand.

[@johnhotz1400]

And that's that!!

[@itslikethesamebutdifferent8020]

I don’t agree. If we used that logic for everything then there would be no stable average price on many things. We have those averages to give us a real time look on how things are selling, good or bad. On some things yes i would agree it’s worth whatever the buyer is willing to pay but those are generally for collectibles on the bidding block.

[@RJ_HTx]

@@itslikethesamebutdifferent8020 he said guitars, and I get your point as well. The key thing about buying used is patience. What you want is eventually gonna show up at the price you are willing to pay. All you have to do is to have the money ready to buy.

[@leebarbier5257]

@@itslikethesamebutdifferent8020 there is no "stable average price" on instruments, not even vintage ones... there's simply what people are willing to pay that seller when they really need to sell it. I know people who've learned that people will not pay top dollar for a pricey vintage guitar when they try to sell it themselves (they just get tough lowball "take it or leave it, you need money or not!?!" offers), so they have to pay a premium to a well-known dealer to sell it for them.

[@The_Christian_Influence]

Based on your comment about smalls amps, what’s your take on things like the Helix or Fractal? Or do you think small amps that have a mic in front are better?

[@danieljdtaylor]

This was a really interesting discussion on the market. Here in Australia the used market has almost ground to a halt completely because the cost of living is rising dramatically so no one is prepared to pay the prices that people want for their used gear, but people who are selling used gear don’t want to drop their prices coz the cost of living keeps rising and they need maximum dollar from their sales. It’s like a standoff to see who gives in first but I don’t see it shifting anytime soon.

[@robertmitchell2178]

Excellent video. The car price metaphor is perfect. I have seen Squier basic strats asking on sites for 20-30% more than Amazon prices! Good luck with that. I think the Boomers down sizing, joint pain etc. is going to dump thousands of used guitars on the market now and over the next few years. Leading to saturation and over stocking of the guitar market. Sellers have got to face marketplace realities.

[@kingcormack8004]

I'm seeing arthritic boomers offering their early-70s Martins for $1-2K over current values. They need to come to terms with reality. No one seems to want 12-strings.

[@ivermektin6874]

Same with their houses.

[@blueishxx]

@@ivermektin6874 real estate is controlled by real estate agents owners just go for the ride

[@johnsmith-bk4ps]

Yes on used guitars, however vintage is strong as ever, collectors worldwide

[@michaelsteven1090]

yup..No doubt, the guitar/amp market will change drastically with the boomers heading out..Especially big amps, that they love but can't lift anymore!

[@user-de6lm9dc4o]

These items are consumables. You buy them, they wear and they depreciate just like a car. People have unrealistic expectations about the value of these things when it comes to selling them.

[@stephenhayesuk]

This makes sense. I have too many guitars and tried to offers a couple for what I thought were realistic prices-but I get no offers. Does £450 sound dear for a decent 1996 MIJ Strat?

[@GarysGuitarsUSA]

I think so, but prices are falling. Sell it now or hold on to it for a year or two.

[@christopherlewis1847]

Respect for honesty. All parties still have to be careful, as there's always some shady jerk that wants to rip you off. This goes for buyers and sellers. Do your homework. Understand current market value for that item. Knowledge is power. Be safe in all transactions. Check for counterfeit gear and cash. Keep your wits about you. Here's hoping we all find what we are looking for at a better price than expected!

[@farmduck2762]

Up until about 10 years ago I had never considered the resale value of a guitar. I figured I would buy one because I liked it and then just play it until I found something better at which point the first guitar has served its purpose and is just excess that needs to be stored and maintained. If I had a good offer I might sell it but otherwise it would just sit there until I needed it in an emergency or gave it away to some neighbour or family member. I always considered myself a guitar player not a wannabe guitar dealer/investor. Just because some guitars, like 1950s Gibsons for example, go up in price doesn't mean guitars in general will. Why would your basic Strat hold its value when next year they will make another 1,000 of them?

[@ShannonRamos]

Collectibility is all about supply and demand, as live venues and guitarist move toward quieter stage volumes (5wattworld) the loud and gigantic amps of the past are seeing a buyer side slump. Now seems like a good time to find a deal on a vintage refrigerator sized amp if that is your thing. Some things are more collectible than others, 4 years ago I passed on a $2000 Sampson era Matchless Cheiftain because I had just bought a used Fender Tonemaster deluxe for $500, guess which one will age better.

[@pmscalisi]

@@ShannonRamosand what someone is willing to pay for it.

[@ShannonRamos]

@@pmscalisi About 20 years ago my Dad sold one vintage guitar that paid for half the price of his current home.

[@NoThankYouReally]

New stuff prices to me look wild, far beyond what inflation should have brought. I got out of the buying game oh maybe 10 years ago and I'm amazed at what I see people asking (not necessarily getting). Granted, I was always very patient and moved fast when I saw something that was mispriced in my view but damn. Prices that are relatively cheap to what is out there still look insanely high to me. I must for context mention I smirked when Gary said people would be selling because they reasoned they "have 3-4 extra guitars". I suppose they think that is excessive. LOL. LMAO even. Damn rookies. When I croak I guess I'll crash the local market when the kids start opening cases.

[@crucifixgym]

Very good information; I just bought 4 new guitars and would love to pick up a 120W amp head. I must be in a strange niche of customers.

[@STORMMusic-co7jl]

Thanks for the market update. Guess I'll keep my picktars for a while longer :)