I was listening to a Rick Beato video on how much gear you actually need, the cost and use of it, etc. It got me thinking on how people (at least in the US) spend their money.
I don't understand why having $20,000 worth of musical gear has a stigma that you have to justify but having a sports car, an unnecessarily large house, motorcycles or any other hobby seems to not turn any heads.
I drive a 2004 Honda that is reliable because I just want my car to work well and take me from A to B. I put all my "fun" money into gear because I love playing, owning and sharing the experience of music even if I wasn't gigging regularly.
Why is there a stigma around music gear, even among pros, when it seems people spend money in many other things that fall in the same category?
$20K is not an inordinate amount of gear. I am a multi-instrumentalist. The funny thing is that, just considering bass and guitar, if I were to completely replace with brand new every bit of gear I need with just two basses, two guitars, two pedalboards, two bass amps, two guitar amps, and spent just $2K for each on average (regular pro quality gear, nothing exotic, I play Music Man, Warwick, Rickenbacker, and Mesa), that would be $20K.
Music isn't merely a hobby for me. I've been a musician for about 9/10 of my life—say age 5 to 50—and I gigged and recorded with my band for 20 years. I have several albums out and available for purchase.
I started out on piano. How much does a good piano cost? A proper concert grand costs more than my house!
Now, is it possible for someone who only plays bass to spend $20K and have *too much gear*? Yes, of course it is. As I said two basses, two amps and a pedal board, and that's only $10K, let's be generous at make that three basses and two pedalboards, and that's only $14K. Or maybe you only need one amp rig, and want four basses, same difference.
It's hard for me to see how anyone can easily justify needing or even wanting more than that. With four basses, I could have two fretted and two fretless, and keep each pair in two different tunings.
And I didn't even talk about recording equipment and PA equipment, much less lighting equipment, all of which are necessary items for many musicians.
Now, that being said, there's the "like" factor to consider. Although I'd be perfectly able to meet my needs with two basses (same bass, one fretted, one fretless) and two guitars (same guitar, two tunings), I'd really want at least two different types of basses and two different types of guitars, so my $20K budget could balloon to $28K, and I still wouldn't considered that "too much" for me. Beyond four basses and four guitars, I might be able to justify one more of each with a straight face, but more than that would make me feel uncomfortable, I think.
In my 25+ years of bass and 30+ years of guitar, I've never come close to owning that much gear, and most of what I have owned was bought used, anyway. My two basses cost an actual total of about $2700, my pedalboard less than $1000, and my amp cost me $700—$4400 total, let's say. Doubling that would bring me to just $8800.