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Coronavirus - How Soon before gear everywhere is a fire sale?

Discussion in 'Miscellaneous [BG]' started by CaptObvious, Mar 25, 2020.


  1. CaptObvious

    CaptObvious Supporting Member

    Feb 14, 2019
    Chicagoland, USA
    I'm seeing this already, with some retailers slashing prices on gear already to stave off what's undoubtedly coming. We're looking at a huge economic downturn, and the first thing people stop spending money on is hobbies and indulgences. That new bass? Maybe it can wait. Make a set of strings last longer. Sell off some pedals.

    I know for some people, playing live is a source of income, so they need to keep up on their gear. But, public shows are on hold now, bands aren't getting paid now, then an economic downturn means people do out to see less live music.

    It can be good for players that prices of gear might be coming down, but I feel bad taking advantage of retailers and shops at a time when they might be on life support. And many won't make it through this, especially the mom-and-pop shops like where I get my lessons.

    Thoughts?
     
    leto, spvmhc and mikewalker like this.
  2. InnerBass

    InnerBass Supporting Member

    Dec 8, 2014
    Thumpn' Happily
    Fasten your seatbelt.
    It's going to be a real bumpy ride for a while.
    Here's to all of us arriving as better people - and bass players!
     
  3. CaptObvious

    CaptObvious Supporting Member

    Feb 14, 2019
    Chicagoland, USA
    I can't agree more. I really do feel bad for small/boutique builders. I mean, in an economic downturn, who is going to go out and buy a $7000 Fodera?
     
  4. Jefenator

    Jefenator

    Aug 22, 2008
    Oregon
    If you are lucky enough to be able, I would say by all means give them the business. Might be cool to pay in cash - and even "tip" or eschew the fire sale discount if you really feel like it.
    You probably won't singlehandedly prevent a business from shuttering. (My paying full price for take-out at a longtime venue didn't come close.)
    But you might cushion the crash a bit. Every little bit helps, right now. (That $5 I gave to the waitress last week can buy a decent amount of rice.)
    I've already seen some gear deals I would love to pounce on. And I do have some gear acquisition savings!
    Alas, I think said savings just became my unemployment insurance. So I'm going to have to be careful.
    Happy hunting.
     
    barrenelly, dbsfgyd1, GregC and 4 others like this.
  5. CaptObvious

    CaptObvious Supporting Member

    Feb 14, 2019
    Chicagoland, USA
    I think this is an excellent point. We do not know how long this is going to last. Many people will be losing jobs, or income. Spending money on a $1000 or $2000 piece of equipment now seems ridiculous for a lot of people. But I agree too, if you are in a position to help the local guy, then by all means do it.

    I talked to an owner at one of my favorite guitar shops. He owes a pedal builder for a dozen pedals he bought. But almost none of the pedals have sold yet. So he's looking at taking out lines of credit to pay the builder, to make the builder whole, even though the builder is being cool and saying "Just pay me when you can." He's blown away at how quickly all of this happened. It wasn't a slow down. For him and many like him, it was a shut down.
     
  6. I've already received emails from 3 different stores advertising gear sales. Some of the deals are quite attractive. Cosmo music here in Ontario is offering buy one Taylor acoustic guitar and get a mini Taylor guitar or bass for $149.
     
    roccobass and CaptObvious like this.
  7. Wood and Wire

    Wood and Wire

    Jul 15, 2017
    Assuming you can purchase a bargain online - when is going to arrive, if there's nobody at the store to fulfill the order, and most hauliers, and delivery services are being utilised to get essential products to supermarkets, hospitals, and other vital infrastructure?

    If it's a private sale, do you really want to be meeting up with some random, exchanging cash & instruments, and shaking hands on the deal?


    Necessity is the mother of invention, and a creative musician can be productive with whatever they have to hand.

     
  8. Michedelic

    Michedelic MId-Century Modern

    Yesterday. I’m already seeing CL going stagnant, the same unsellable stuff from a few weeks ago repeated again, but little in the way of new items. I’m sure sellers will realize that “ain’t nobody got time for that”.
    Interestingly, the “musicians” section still has some hopeful postings.
     
  9. No planned purchases for me.

    As for mom and pop shops, I have to drive for over an hour to get to the nearest GC, no mom and pop's left. Since the internet companies swallowed up the "little" guys I don't feel too bad about them suffering a little. All of us will suffer if our economy tanks.
     
  10. Bunk McNulty

    Bunk McNulty It is not easy to do simple things correctly. Supporting Member

    Dec 11, 2012
    Northampton, MA
    I don't have to sell anything. Yet. Music stores are closed in Massachusetts until April 7. Non-essential.
     
    Rabidhamster and CaptObvious like this.
  11. CaptObvious

    CaptObvious Supporting Member

    Feb 14, 2019
    Chicagoland, USA
    True, I don't feel bad for GC as a company (I know a lot of workers there are musicians, so I feel bad for the people.). Craigs List would indeed be a good barometer of how fast gear is moving. A lot of indy shops post there too.
     
    Jefenator and dkelley like this.
  12. Small? Boutique, yes :)
     
  13. How many threads like this do we need?

    In another very long one the OP of that thread was speculating that if the seller can't feed their kids then there'll be good prices on their gear.
     
  14. Yes, I have to wonder when I see “busy working band with gigs booked... rehearsing weekly...”
     
    CaptObvious likes this.
  15. I'm seeing friends selling their own gear already. Some are really hurting, full-time music guys.
     
    roccobass, ajkula66 and CaptObvious like this.
  16. Charlzm

    Charlzm

    Mar 25, 2011
    Los Angeles, CA
    I plan to shelter in place with regards to gear. No sales, no acquisitions.
     
    PWRL, Plutonium244, EdO. and 8 others like this.
  17. mark roberts

    mark roberts Supporting Member

    Nov 13, 2004
    Lawrence, KS
    Bound to happen in these times. But, the “for sale” market seems to have been absent for quite sometime. Trades, yup...some with small amounts of cash going each way. But, this market has been crummy for quite sometime. And as far as the music goes, in my area there is a certain “cover/tribute” mentality with a very conventional mix of what is on stage and the money still is absent except for certain types of gigs. And those groups that have the in to gigs that do pay may be ones to watch out for, as they will say anything to protect their turf. This, long before any physiological epidemic.
     
  18. bOOMthePocKet

    bOOMthePocKet

    Mar 13, 2020
    Amen to that!
     
    EatS1stBassist likes this.
  19. Carl Hillman

    Carl Hillman

    Jan 1, 2010
    ...those Senators who made a killing by selling their stock right after getting a private briefing about the coronavirus threat, just before the market crashed?

    Opinion | They. Sold. Their. Stock.

    I'm sure they've got enough to buy several Foderas.
     
    Last edited: Mar 25, 2020
  20. Cutter8

    Cutter8 Supporting Member

    Feb 4, 2018
    Georgia
    I respect that, but you may want to reconsider. If the seller is offering the gear at an extremely low price, they need to sell the gear. I wish nobody would hold off on buying because they feel opportunistic. Not buying is what will hurt the shop owners! When we feel bad about buying at fire sale prices, it’s because we sympathize or empathize with someone who’s going to lose a bunch of money on the gear. That’s a nice thing. But, I would suggest that thinking about profitability at the moment may be a counterproductive distraction. For the next while, business survival is is going to be all about liquidity!!! If you look at it from that perspective, there’s no reason at all to feel guilty. If you can afford to, buy the gear and feel good about it! :thumbsup:

    Of course, I can’t be very objective about this because my take on the shop owner’s position is colored by my own experience. On a couple of occasions, I have had to sell gear at a dramatic loss due to fairly desperate circumstances. I definitely didn’t want to do it, and it felt like crap when I did, but thank God there was someone out there who bought the gear! I needed the money way more than the stuff, and I needed it fast, otherwise I wouldn’t have been selling so cheap. Just one old guy’s opinion...
     

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