afishynado Posted July 17, 2023 Share Posted July 17, 2023 (edited) Asking for a friend. A guy has 300k sitting in his checking account (which is only insured to 250k by FDIC). He wants a guitar, maybe new, maybe old. How much of the 300k should he pinch off to spend on a guitar. Edited July 17, 2023 by afishynado Quote Link to comment Share on other sites More sharing options...
fortyearspickn Posted July 17, 2023 Share Posted July 17, 2023 Being a GUITAR forum - the answer is obvious. All of it. 2 2 1 Quote Link to comment Share on other sites More sharing options...
Low Country Boy Posted July 17, 2023 Share Posted July 17, 2023 Not sure where the $150,000 limit came from. The FDIC insures saving accounts up to $250,000. From the FDIC website (https://www.fdic.gov/resources/deposit-insurance/): "Mar 15, 2023 Deposit insurance is one of the significant benefits of having an account at an FDIC-insured bank—it's how the FDIC protects your money in the unlikely event of a bank failure. The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. And you don't have to purchase deposit insurance." Other than that, I agree with fortyearspickn! Quote Link to comment Share on other sites More sharing options...
Murph Posted July 17, 2023 Share Posted July 17, 2023 34 minutes ago, fortyearspickn said: Being a GUITAR forum - the answer is obvious. All of it. Quote of the day... 1 1 Quote Link to comment Share on other sites More sharing options...
Sgt. Pepper Posted July 17, 2023 Share Posted July 17, 2023 (edited) 1 hour ago, afishynado said: Asking for a friend. A guy has 200k sitting in his checking account (which is only insured to 150k by FDIC). He wants a guitar, maybe new, maybe old. How much of the 200k should he pinch off to spend on a guitar. If he wants just ''A" guitar he is going to have to come up with a little more than 200k. For 2 guitars multiply x 2. Edited July 17, 2023 by Sgt. Pepper Quote Link to comment Share on other sites More sharing options...
afishynado Posted July 17, 2023 Author Share Posted July 17, 2023 1 hour ago, Low Country Boy said: Not sure where the $150,000 limit came from. The FDIC insures saving accounts up to $250,000. From the FDIC website (https://www.fdic.gov/resources/deposit-insurance/): "Mar 15, 2023 Deposit insurance is one of the significant benefits of having an account at an FDIC-insured bank—it's how the FDIC protects your money in the unlikely event of a bank failure. The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. And you don't have to purchase deposit insurance." Other than that, I agree with fortyearspickn! Cool. Thanks for the heads up. I really thought the limit was lower. I edited my op to reflect current limits. Quote Link to comment Share on other sites More sharing options...
rct Posted July 17, 2023 Share Posted July 17, 2023 1 hour ago, afishynado said: Asking for a friend. A guy has 300k sitting in his checking account (which is only insured to 250k by FDIC). He wants a guitar, maybe new, maybe old. How much of the 200k should he pinch off to spend on a guitar. Get smarter friends. rct 1 Quote Link to comment Share on other sites More sharing options...
afishynado Posted July 17, 2023 Author Share Posted July 17, 2023 (edited) 11 minutes ago, rct said: Get smarter friends. rct LOL. He must be enamored with todays interest rates. They were near zero for what, 10 years...but when you factor in inflation...the savings/checking accounts aren't so lucrative. Back to guitars.... Edited July 17, 2023 by afishynado Quote Link to comment Share on other sites More sharing options...
zombywoof Posted July 17, 2023 Share Posted July 17, 2023 (edited) I'm still confused. If it is a question of wanting to spend over what the FDIC insures I am not coming up with $200K. Anway, I am obviously on a guitar forum but if it were me and I was not inclined to invest $200K and decided I deserved to treat myself to something only seen on the lifestyles of the rich and shameless, I would buy a car, Maybe an Aston Martin DB11. Edited July 17, 2023 by zombywoof Quote Link to comment Share on other sites More sharing options...
afishynado Posted July 17, 2023 Author Share Posted July 17, 2023 18 minutes ago, zombywoof said: I'm still confused. If it is a question of wanting to spend over what the FDIC insures I am not coming up with $200K. Anway, I am obviously on a guitar forum but if it were me and I was not inclined to invest $200K and decided I deserved to treat myself to something only seen on the lifestyles of the rich and shameless, I would buy a car, Maybe an Aston Martin DB11. I just made another edit, to correct what I think was confusing to you... Quote Link to comment Share on other sites More sharing options...
slimt Posted July 17, 2023 Share Posted July 17, 2023 (edited) Buy a 1500.00 guitar and put the rest into Gibson stocks. 😁 Edited July 17, 2023 by slimt 1 Quote Link to comment Share on other sites More sharing options...
zombywoof Posted July 17, 2023 Share Posted July 17, 2023 The most I have ever spent on a guitar was $5K (my '32 12 fret L1). And even then, I knew I was paying top dollar and must have been on puppy chow for doing it. I guess temptation took control of me and I fell. Just have your friend call Gruhn, Elderly, Eric Schoenberg, or the like. I am sure they would be more than happy to help him spend as much as he wants. Me though, I still vote for the car. Quote Link to comment Share on other sites More sharing options...
ksdaddy Posted July 17, 2023 Share Posted July 17, 2023 I think I spent $4999 on a LP Personal but sent it back. No frets left after some madman bought a new file. I spent $4400 on the ‘47 L-5 I think. I started saving for a pre CBS Jazzmaster about a year ago. I set aside about $10k and waited for a good original example. In the meantime I bought a Squier Vintage Jazzmaster and spent several hours on the frets, board and nut. I figured it would hold me over and give me a surf fix. But it falls off my lap as bad as any Ovation. Guess a $10000 one will probably slide off just as quickly as a $350 one. (Money slips back into hip pocket) Quote Link to comment Share on other sites More sharing options...
Sgt. Pepper Posted July 17, 2023 Share Posted July 17, 2023 2 hours ago, slimt said: Buy a 1500.00 guitar and put the rest into Gibson stocks. 😁 When did they go public? Quote Link to comment Share on other sites More sharing options...
slimt Posted July 17, 2023 Share Posted July 17, 2023 1 hour ago, Sgt. Pepper said: When did they go public? Good question. 😁. But if theres that much money to spend. Blow it on that. Quote Link to comment Share on other sites More sharing options...
Sgt. Pepper Posted July 17, 2023 Share Posted July 17, 2023 (edited) 2 minutes ago, slimt said: Good question. 😁. But if theres that much money to spend. Blow it on that. Their a private company, so there is no stock to buy. T-shirts and duffle bags, but no peice of the company. Edited July 17, 2023 by Sgt. Pepper Quote Link to comment Share on other sites More sharing options...
Sgt. Pepper Posted July 17, 2023 Share Posted July 17, 2023 Is this guy some multi-millionaire and doesn’t care about price tags or is he trying to get a loan? I’m uncertain of the jist of the thread. Quote Link to comment Share on other sites More sharing options...
jdgm Posted July 17, 2023 Share Posted July 17, 2023 (edited) Go on ebay and find the seller gibson_supreme .....Who has the sort of guitars your friend might be interested in. There's lots out there. He should look at the vintage traders sites - Gruhn's, Norman's Rare Guitars for instance - to get an idea of models, values and prices. 🎸 Edited July 17, 2023 by jdgm Quote Link to comment Share on other sites More sharing options...
Dave F Posted July 17, 2023 Share Posted July 17, 2023 If you purchase a copy of the Vintage Guitar Price Guide, they have a list of guitars that follow the market trend if you're looking strictly for investment. Otherwise, you need a lot of foresight. a crystal ball or luck to guess what the models will do. Good luck to you and your friend. Quote Link to comment Share on other sites More sharing options...
slimt Posted July 17, 2023 Share Posted July 17, 2023 Chinery bought all the cool Guitars. Quote Link to comment Share on other sites More sharing options...
Sgt. Pepper Posted July 17, 2023 Share Posted July 17, 2023 (edited) 1 minute ago, slimt said: Chinery bought all the cool Guitars. I thought that was Japan? China just makes 4 billion of them. 2 billion are fakes. Edited July 17, 2023 by Sgt. Pepper Quote Link to comment Share on other sites More sharing options...
slimt Posted July 17, 2023 Share Posted July 17, 2023 I was at King of Prussia in 92 when Chinery was buying . Japan collectors were filling 40ft tractor trailers full to the roof of vintage guitars. Pretty impressive to watch. We had a table buy the front door. Quote Link to comment Share on other sites More sharing options...
rct Posted July 17, 2023 Share Posted July 17, 2023 35 minutes ago, slimt said: I was at King of Prussia in 92 when Chinery was buying . Japan collectors were filling 40ft tractor trailers full to the roof of vintage guitars. Pretty impressive to watch. We had a table buy the front door. Them were the days. Philly guitar show was massive back then. rct Quote Link to comment Share on other sites More sharing options...
Sgt. Pepper Posted July 18, 2023 Share Posted July 18, 2023 It would be nice to have Joe B money and fill a semi with nice ‘Coustics. Quote Link to comment Share on other sites More sharing options...
cunningham26 Posted July 18, 2023 Share Posted July 18, 2023 The good news is that to cover his ground on a good investment AND a piece of history, he only needs to go to one shop- Retrofret in NYC. There seems to be enough publicity and hype around bursts that I think they're going to remain inflated through another generation of guitar players. Even overpaying for this one would still likely be a good investment as it doesnt look as worn down as others. For historical significance and probably a good investment for the Antiques Roadshow set, I'd prefer this Lloyd Loar-signed master model L5. A steal compared to any 58-60 bursts these days Quote Link to comment Share on other sites More sharing options...
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