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Got a Peavey Foundation for $50 today!

A locally owned guitar shop near me is going out of business. I've purchased a few things from them over the years so I figured I'd go "pay my respects" and grab one final set of strings from them. Hanging on the wall behind the counter is a white Peavey Foundation, completely covered in dust and crud. Must have been in an attic. I asked the guy how much. He said "not sure yet, may have some issues we really haven't looked at it." I told them to give me a call whenever they decide on a price, I'm looking for a project ya know? He said "dude we're closing up shop in a week, how's $50 sound".

Got her home, gave her a nice bath and oiled the fingerboard. NOW, the neck is bowed like crazy and I don't have the proper wrench to adjust the truss rod (if it even works). I'm really hoping this doesn't turn out to be a piece of firewood as I've always liked the way these sounded. Until I get the proper wrench it's all up in the air but hey for $50 I was willing to take a chance. It came strung up with brand new D'addario chrome's which ironically cost almost as much as the bass lol. Fingers crossed I can rehab this thing!
 

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A locally owned guitar shop near me is going out of business. I've purchased a few things from them over the years so I figured I'd go "pay my respects" and grab one final set of strings from them. Hanging on the wall behind the counter is a white Peavey Foundation, completely covered in dust and crud. Must have been in an attic. I asked the guy how much. He said "not sure yet, may have some issues we really haven't looked at it." I told them to give me a call whenever they decide on a price, I'm looking for a project ya know? He said "dude we're closing up shop in a week, how's $50 sound".

Got her home, gave her a nice bath and oiled the fingerboard. NOW, the neck is bowed like crazy and I don't have the proper wrench to adjust the truss rod (if it even works). I'm really hoping this doesn't turn out to be a piece of firewood as I've always liked the way these sounded. Until I get the proper wrench it's all up in the air but hey for $50 I was willing to take a chance. It came strung up with brand new D'addario chrome's which ironically cost almost as much as the bass lol. Fingers crossed I can rehab this thing!
If you give up on the thin walled socket I'll send you an invoice via paypal for $200 to include shipping.
 
Nice find.

Probably a good idea to manually flex the neck into position, and then tighten up the truss rod to keep the neck relief set (rather than cranking away on the truss rod, hoping it will straighten out the bow itself).

I'd also consider putting on lower tension strings (the Rotosound 66 "C" set 40-95 are pretty low tension for SS round wounds).

Keep those new D'Addarios for one of your main players.
 
Nice find.

Probably a good idea to manually flex the neck into position, and then tighten up the truss rod to keep the neck relief set (rather than cranking away on the truss rod, hoping it will straighten out the bow itself).

I'd also consider putting on lower tension strings (the Rotosound 66 "C" set 40-95 are pretty low tension for SS round wounds).

Keep those new D'Addarios for one of your main players.
Yeah the flats are going on one of the p-basses. I want rounds on the Peavey anyways. I'm running to Home Depot in the morning to grab a socket to see if this neck can be saved. If not I'll probably throw the pickups and knobs on Reverb.

My thinking was even if it's a bust I can at least make my money back and end up with a good set of flats.
 
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Tuned to pitch, chromes are pretty high tension and stiff.

while you sort out the truss rod tool, does down tuning improve things?

Do you have a set of super light strings you could try?

I'd take them off immediately. I had chromes on mine for a short time, and it could not handle the tension. I never have to touch it with Elixirs on it. Plus, darn you ;-)
 
5/16 thin wall socket (or a regular socket modified by bench grinder) and a way to turn it.

I bought a Peavey Fury out of a pawn shop a few years ago that has the same neck as my Foundation except it says "Fury" on the headstock. The neck on it looked like a longbow it was so warped. Your pick of the action looks like a perfect setup compared to this Fury. I really didn't think the truss rod would flatten it out, but it did and has remained stable ever since. I bet yours will do the same.
 
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I'm with you! Got this Foundation for $75 CDN, which is about what you paid, and man was it beat up and dirty! Got it back in playing shape—with a bit of honest Mojo—and it sounds great. Neck's not 100%, but maybe 85%. :laugh:

BTW, truss rod adjusts with 5/16" Gibson-style wrench. You can get them from StewMac and elsewhere.
 
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A locally owned guitar shop near me is going out of business. I've purchased a few things from them over the years so I figured I'd go "pay my respects" and grab one final set of strings from them. Hanging on the wall behind the counter is a white Peavey Foundation, completely covered in dust and crud. Must have been in an attic. I asked the guy how much. He said "not sure yet, may have some issues we really haven't looked at it." I told them to give me a call whenever they decide on a price, I'm looking for a project ya know? He said "dude we're closing up shop in a week, how's $50 sound".

Got her home, gave her a nice bath and oiled the fingerboard. NOW, the neck is bowed like crazy and I don't have the proper wrench to adjust the truss rod (if it even works). I'm really hoping this doesn't turn out to be a piece of firewood as I've always liked the way these sounded. Until I get the proper wrench it's all up in the air but hey for $50 I was willing to take a chance. It came strung up with brand new D'addario chrome's which ironically cost almost as much as the bass lol. Fingers crossed I can rehab this thing!

Nice catch. One thing you can you can do until you get a wrench, is loosen the strings and see what happens.
 
I have a Cirrus that had the terrible, bridge cable Peavey strings. It would not set up, and I threw those strings in the trash. I put DR Pure Blues VW set, .090-.040 on it and the neck went right to a back bow.

Me and the Cirrus sighed with relief as I eased off the truss rod to perfect.

I run D'Addario nickel XL .035 on it and they work even better.
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It should straighten right out. Good Luck!