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Apologies if this has already been posted:
Wal Mk1 1985 Brazilian Mohogany Core Padauk Facings Indian Ebony Fingerboard - Near Mint Condition | DM Music | Reverb
Wal Mk1 1985 Brazilian Mohogany Core Padauk Facings Indian Ebony Fingerboard - Near Mint Condition | DM Music | Reverb
This (padauk) but with high gloss finish and ebony board is what I'm planning for my build, but what I liked about the padauk pics in the gallery was the orangish color. Most padauk Wals I see in the wild (like the listed one) are darker brown than Walnut... I'll have to ask Paul about it when the time comes. Still debating fretted vs not. Or maybe I'll go stock fretless and also buy a fretted neck. It's only money, right?
That price tag is disgusting, just absolutely ridiculous.
That red one didn't even sell for 15. its was quite a bit less.
But it seems shops wanting to get a piece of the pie are really shooting for the moon on asking prices.
I have stayed silent on the issue of flippers and used prices for fear of upsetting anyone with my analysis. That said, I am going to share my thoughts and please understand that this is just dry observation and not criticism, etc of anyone:
First, you can’t really blame people too much for trying to self maximize. It’s human nature and for better or worse, it’s how markets work particularly when it comes to rare items where supply cannot come close to meeting demand. I mean how much does a Les Paul 59 Goldtop sell for, amirite? That said, the whole thing frustrates me too because I want to own Wals, not sell them. And the right number of Wals to own, especially if your spouse asks is “just one more.”
Second, the cause of these prices is ultimately Paul. I don’t mean this disrespectfully or as a criticism to him. What I mean is that time is money and the build time pre-Covid was already exceptionally long. I’m not inside the shop so I don’t want to paint with too wide a brush or oversimplify things, but one would think that with some investment and better planning, queue times could be shortened and output could be increased. Look at what Fodera did. They took their bill time From 39 months to 5 months. It took a while and it took some capital surely, but they did it. I am not saying Paul should do this too, but the market seems to be putting a premium on time.
Third, I am concerned that prices of new Wals may go up. Let’s leave aside the prolonged build times and inflation in materials prices for a second. I just remember the same thing happening when Pete’s health started to deteriorate and his turnaround times were getting longer and longer. And eventually when his output stopped, prices completely reset. When Paul took over production, instruments were priced at these new levels set in the second hand markets. And I don’t begrudge him that. The instruments are worth every penny and he needs to make a living. With Paul no longer taking new orders, prices seem to be resetting as they did last time.
Lastly, some of this is just the psychology of these marketplaces like reverb. Things have moved away from the auction model and into an asking price model. And I’ve been saying for years that most people treat their reverb listings as if they just found an old draft of the declaration of independence at a tag sale. Somebody made the point that the asking prices are not the final selling prices. I think sometimes that spread might be a little bit wider than we would think. I mean you’re not lowballing somebody by offering them 50% less than their asking if they’re already asking 100% too much, right?!
That’s all I’ve got. That, and my greatest fear is that when I die my wife will sell my Wals for what I told her I paid for them
First, you can’t really blame people too much for trying to self maximize. It’s human nature and for better or worse, it’s how markets work particularly when it comes to rare items where supply cannot come close to meeting demand. I mean how much does a Les Paul 59 Goldtop sell for, amirite? That said, the whole thing frustrates me too because I want to own Wals, not sell them. And the right number of Wals to own, especially if your spouse asks is “just one more.”
Second, the cause of these prices is ultimately Paul. I don’t mean this disrespectfully or as a criticism to him. What I mean is that time is money and the build time pre-Covid was already exceptionally long. I’m not inside the shop so I don’t want to paint with too wide a brush or oversimplify things, but one would think that with some investment and better planning, queue times could be shortened and output could be increased. Look at what Fodera did. They took their bill time From 39 months to 5 months. It took a while and it took some capital surely, but they did it. I am not saying Paul should do this too, but the market seems to be putting a premium on time.
Third, I am concerned that prices of new Wals may go up. Let’s leave aside the prolonged build times and inflation in materials prices for a second. I just remember the same thing happening when Pete’s health started to deteriorate and his turnaround times were getting longer and longer. And eventually when his output stopped, prices completely reset. When Paul took over production, instruments were priced at these new levels set in the second hand markets. And I don’t begrudge him that. The instruments are worth every penny and he needs to make a living. With Paul no longer taking new orders, prices seem to be resetting as they did last time.
Lastly, some of this is just the psychology of these marketplaces like reverb. Things have moved away from the auction model and into an asking price model. And I’ve been saying for years that most people treat their reverb listings as if they just found an old draft of the declaration of independence at a tag sale. Somebody made the point that the asking prices are not the final selling prices. I think sometimes that spread might be a little bit wider than we would think. I mean you’re not lowballing somebody by offering them 50% less than their asking if they’re already asking 100% too much, right?!
That’s all I’ve got. That, and my greatest fear is that when I die my wife will sell my Wals for what I told her I paid for them
Good observations! If this crazy price thing is going on I am going to be afraid to take my Wals on a gig or to leave my house!
I saw some comments from other people on Facebook with this 15k mk1 that this price is because it’s from the Golden age period of Wal and that it is signed by Wal. I think this is BS. When was the golden age of Wal? I think they were pretty consistent all the time. Maybe with a few exceptions. It also doesn’t matter who signed the bass because that is not necessary the one who build it. So that doesn’t make it more valuable. People (mostly ones who don’t know much about Wal basses) are just hyping it even more to justify the absurd price.
I saw some comments from other people on Facebook with this 15k mk1 that this price is because it’s from the Golden age period of Wal and that it is signed by Wal. I think this is BS. When was the golden age of Wal? I think they were pretty consistent all the time. Maybe with a few exceptions. It also doesn’t matter who signed the bass because that is not necessary the one who build it. So that doesn’t make it more valuable. People (mostly ones who don’t know much about Wal basses) are just hyping it even more to justify the absurd price.
Well-said, on the third point I'd add that Reverb lets one search on completed / sold items, and that is often a good calibrator for making an offer on something. Market forces will work, if Wals go up in sold value (not just price) then that's what they are worth to the market. If Paul's prices go up then his wait times will decrease as people cancel orders, providing value on the time-to-ship aspect of the new order experience for those that want to pay it.
This is super, thanks! I want a walnut like this too so I’ve added this pic to my sample library!
I am already afraid to take my Wals to rehearsals. Seriously.
Yes that’s what this price craze is doing. That’s not good. They should be played and not kept in safes.
