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Fair price for an Ovation Magnum III ?

Discussion in 'Basses [BG]' started by Groundloop, Dec 20, 2005.


  1. Groundloop

    Groundloop

    Jun 21, 2005
    Toronto
    I humbly ask for the counsel and guidance of my more knowledgeable TB members to help me make a decision.

    A local guitar shop that specializes in used and vintage gear has had a natural finish Magnum III in the shop off and on for the last 3 years or so, on consignment, priced at $1100 CDN ($950 USD). Having worked in retail, I know that consignment pricing is often a compromise between what the retailer knows something is worth, and what the owner thinks it's worth, but I really think that this is out of line. There's a Magnum III on eBay right now with a Buy It Now price of $650 USD. The auction ends at 1:00 pm today, and there have been no bids.

    As far as condition goes, the bass hasn't been beat on, but it hasn't been babied either, it's a good player that needs some TLC.

    So. What should I be offering for the local bass, not the eBay listing?
     
  2. Groundloop

    Groundloop

    Jun 21, 2005
    Toronto
    OK. The eBay auction is over, and there were no bids. I was watching it to see what it would sell for.

    Does anybody have an idea of what a reasonable offer for a Magnum III is?
     
  3. I've seen them go on Ebay in excellent condition for less than $700 USD.
     
  4. VifferMike

    VifferMike Registered Four Banger

    Dec 10, 2004
    Dallas, Texas
    I was looking for a Magnum III for a while, and tracked a number of examples of both the III and IV on the bay this past spring and summer. On average, they went for $300-$450, depending on condition and interest.

    It seems that values for them have gone up during the latter half of this year, though. I rarely saw one sell for less than $400 after mid-summer, and occasionally would see one go for around $500. I gave up trying to find one for a decent price after that trend happened.

    Beware: Magnum necks are notorious for being prone to warpage due to drastic climate changes. If that one in the shop is a player (no neck or electronics issues) and is in excellent condition, I'd offer no more than $600, and that's pushing it.
     
  5. my book doesn't list a III, but for an Ov. Mag II, 1974 -1980,
    $600-$750. :cool:
     
  6. Groundloop

    Groundloop

    Jun 21, 2005
    Toronto
    Mike and HOJ.

    Thanks for the info. Based on what you've said (and what little I was able to scrounge up on the web), the owner of the Mag III that's here in town is $200 - $350 USD out to lunch.

    Looks like I'll wait until the new year and then make an offer in the $700 - $800 USD area.

    I'll post pics and clips if I get it, but somehow I think the owner won't budge.
     
  7. VifferMike

    VifferMike Registered Four Banger

    Dec 10, 2004
    Dallas, Texas
    Good luck, Groundloop. If that guy's had that Mag III hanging in his store for nearly three years, then chances are he's more fond of looking at the thing than actually selling it. Hmph, eh?

    For reference: Magnum I and II are the smaller futuristic-bodied ones, and the Magnum III and IV are the large double horn-bodied ones (a more conventional redesign to help sales, since the I and II never met sales expectations). The II and IV had graphic EQs; the I and III, regular tone controls.
     
  8. I'd love a magnum 1 or 2, never much cared for the 3 or 4 though. I wouldnt pay more than £450 for a magnum.
     
  9. Groundloop

    Groundloop

    Jun 21, 2005
    Toronto
    The bass is on consignment, so my guess is that the store owner has been unable to convince the basses owner that the price is too high. For a while when it first appeared there was a Magnum I (that one only hung on the wall for 2 years!!) priced at $800 USD. Anyway, all I can do is make the offer, if they don't take it, life goes on.