Is the BassConomy tanking?

[Scott Lynch]

Inflation in general + uncommonly high used gear prices has resulted in instruments being the most expensive I've ever seen in the 10-15 years I've been watching the market.

Things honestly are crazy right now. Sure, markets come and go, and guitars are not going to be a hot thing forever, but I can't say that they are fully in decline yet. I'm no economist, but I hypothesize that once the baby boomer generation really starts to decline and Gen X ages, we may see some changes there.

Resale value can vary due to any combination of a number of factors. Take name brand recognition. Case in point, I fell out of love with a really amazing instrument that I had custom made for me by a talented builder who simply is not as well known and does not have as many famous people playing his instruments as Sadowsky, Fodera, Smith, etc. I could not even get half of what I paid for it when it sold. The bass I own now is a discontinued production model from one of the most well known and highly regarded boutique builders out there, and numerous of them have sold on the TB classifieds for more than their new price.

If resale value is a priority, do your research and choose wisely, i.e. plan to be happy with a well known brand with run of the mill specs that many players would find desirable. If not, play what you want and don't worry about the money.

 

[Green Knight]

I see a lot of optimistic prices slashed with offer button still enabled, so I doubt they’re getting anywhere close to list price … except for Fenders as everybody has said. Although Gibson has shot up lately too!

 

[sears]

Higher Prime Lending Rate = tighter economic conditions = less discretionary spending.

the prime lending rate was very low in 2009

 

[conttador]

Musical instruments in general are niche items. Few people speculate on musical instruments and most musicians I know don’t have a high disposable income. In fact most have one or two basses at most and if they are going to buy another instrument they usually have to sell something first.

As others have stated, you can’t make a broad assumption on a sample of one. I’m not a Fender guy but I’m always pricing basses from certain luthiers and those are NOT going down in price. They’re not selling either which means they are overpriced.

I bought a bass on reverb in December that started out at $5k about a year before I bought it and by the time I bought it had been priced down to $3.2k. Most buyers are informed and will research SOLD items and will look for comparable pricing before they buy. Unfortunately, most sellers do not do this and will research what a comparable instrument is being sold for and will price based on that and sit unsold until the pricing is adjusted to what the market is willing to pay.

 

[kmon]

The retail price isn't that relevant. If somebody paid $1800 new for a fretless P 5'r they likely lost a good chunk when they walked out the door. If it wasn't from a well-known builder they likely lost a very large chunk.

It's not going to have wide appeal. You might be able to get a better price, but I think you'd need to be willing to sit on it for a long time and wait for just the right buyer to stumble across it.

IMO it doesn't reflect the bottom dropping out of anything.

 

[perfektspace6]

We had it very easy for the last 15 years or so. Now, the economy is tight and credit is no longer free. The used basses that sell for top dollar are the ones that are in demand and that can be resold at minimal loss. I think a lot of smart players are thinking that they want something the can sell quickly and not lose money in a pinch. Or at least that is a good way to justify the purchase.

Basses made by relatively unknown builders almost always sell at a large discount. Half off or so. Most won't take a big risk on an unknown.

 

[nonohmic]

Economy for surf green fretless Ps is prolly tanking, sure.

 

[groooooove]

For as long as I have been on Talkbass, there seems to have never been a good time to either sell or buy "in this economy". (Which means people have literally used that line for years now)

so true.

even when things were good, this line was used all the time..

folks don't realize that used bass guitars, especially things other than a standard, non-modded, four string, good-condition fender, are hard to sell in general.

 

[bigdaddybass12]

Prices of Fenders continue to rise. I think we went from a market with only a few "custom" builders to a market oversaturated with them.

Yes on this!! Sorry, you can make something just so “good”. Everybody thinks a “custom bass” is 10 times better than a production bas, sounds 10 times better, stays in tune 10 times better. In reality the finish is better, QC is better, that is about it. I had a $299 bass that never was out of tune, played various places, indoor/outdoor gigs.
Lot of the “better” is just in our minds.

 

[Plain Old Barry]

Reversion to the mean. Values tend to fluctuate...

 

[brianrost]

I absolutely dont think a T-40 is worth $1200-$1800 ... There isnt that much of a demand for them to warrant such a drastic price increase

If they actually sell for that price, then the demand is there.

 

[bdplaid]

For as long as I have been on Talkbass, there seems to have never been a good time to either sell or buy "in this economy". (Which means people have literally used that line for years now)

I agree. I think bassists are just the cheapest of the cheap. Certainly compared to guitarists, who it seems will pay any price to get "that tone."

 

[Koshchei]

- Get empty bass case.
- Make sure wife sees you leave your home with empty bass case not knowing its empty. "Be back in a little bit, going to the music store"
- Go to town. Purchase bass and put in case
- Return home with new bass in no longer empty bass case

oldest trick in the book

Probably a one way ticket to divorce too... in tight economic times, unless you have tons of spare cash sitting around that you'd otherwise be burning, medium to large purchases should probably be done collaboratively. Just be ok with it if she's gassing for a new sabre for her competitive fencing, or whatever her hobby happens to be.

 

[Wesley R]

Bought a bass today. 5 string fretless P in surf green with a cocobolo fingerboard and sissy lines in inlaid maple.

I traced the history of the bass online and it went like this:
Namm show model, $1800 sale price.
Fire sale price $875
My price today, $750.

This bass fits a niche for me, I haven't owned any type of P in decades. If I don't like the Bartolini P pickup I'll drop in a nordy. Wife probably won't notice I have a technique of blending them in slowly.

My question is this: how are basses selling for less than half of retail in good condition? This seems to be a bad sign for the economy in general. My antique upright has been on Reverb for years!

I'm psyched about the bass, it's pretty unique yet traditional.
Is anyone worried about the BassConomy?

Back when I was way younger, a good deal was 30% off of retail. Used in good condition and not to old was 50% of retail.

 

[creaturegods]

I knew I shouldn't have invested my life savings in cocobolo futures!!

 

[MrB64]

My opinion is that if it sounds good and plays good, accept that you got something good at a fair price. Good for you, now go practice.

 

[Manticore]

I think bassists are just the cheapest of the cheap. Certainly compared to guitarists, who it seems will pay any price to get "that tone."

Right? By what I see on this forum bass guitarists (not all bass players, electric bass guitar players) expect professional-grade gear for less than pocket change available at a moment's notice shipped to their door and arriving before they finish thinking about the purchase.

 

[Lance Bunyon]

Many good points here. I kinda specialize in 5 string fretless so I tend not to remember how esoteric it is. Yes I agree the small custom builder market is saturated. Also I see the same top exotic basses ranging from $4000 to $8000 just sitting there year after year. I don't begrudge the builders but I'll probably never have 5 grand to lay out for a bass.

Bottom line is I'm psyched I'm getting a custom bass with an exotic fingerboard for about the same price as a Korean Schecter.

 

[Rib 13]

For example, I love Peavey T-Series basses but I absolutely dont think a T-40 is worth $1200-$1800 especially that they were only $250 -$350 (used) a mere ~ten years ago: There isnt that much of a demand for them to warrant such a drastic price increase

If they actually sell for that price, then the demand is there.

They sit on Reverb for a looooong time....besides,I dont think one or two outliers with vasts pockets of disposable income that happen to buy one or two at those over-inflated prices represent the entire market demand gradient of potential consumers and costumers, but - as stated earlier: IMO...Were talking a Peavey T-40, not a Lamborghini lol

 

[Michael Stanley 2112]

- Get empty bass case.
- Make sure wife sees you leave your home with empty bass case not knowing its empty. "Be back in a little bit, going to the music store"
- Go to town. Purchase bass and put in case
- Return home with new bass in no longer empty bass case

oldest trick in the book

Make sure you have them delivered, marked like this: