Gibson L-5 Circa 1958

[NornIron]

A computer illiterate friend has a Gibson L-5 acoustic circa 57-59 model (blonde) cut-out and archtop that he is interested in selling on.

 

It is absolutely mint condition, complete with original case, with No mods.

 

Has anyone any suggestions about its valuation...even a ball park?..is it rare, or how could I find out more about it.

 

I know nothing about guitars and he knows nothing about internet....so its a nightmare combination for this situation...

 

Any suggestions or input would be great

 

Kind Regards

[jannusguy]

you could start looking here. i googled this. you can too! good luck.

 

http://en.allexperts.com/q/Guitar-General-649/value-GIBSON-L-5.htm

[ballcorner]

The last one I sold of these was a 1957 blonde that went for $8500 in 1998.

 

Today, you are looking at $15,000+ if you have the condition stated fairly.

 

The L-5s from the 1950s are usually sunburst finish. Blonde is more rare. Additionally, the finish on the L-5s from that era can be a touch on the thick side, which often means there will be some checking (minor finish cracks) especially at stress points of the construction.

 

If the guitar really is totally mint with no finish checking and no signs of wear. If all the parts are completely original, including the case, you can fly as high as $22,000 retail on a guitar like this, but if it was under the bed or in a closet with no humidity control - it goes down rapidly. Every detail that is impacted by improper storage, any parts that have been changed - and the value goes down. Mint, essentially, refers to a guitar that has always been properly stored and likely never played. Mint to a collector is far different from mint to an average person on the street. It is often safer to say the guitar is in EXC++ condition than to state mint.

 

A dealer will pay you roughly 63% of the assessed book value. Selling yourself has its share of issues and on a guitar like this you might want to contact a reputable vintage dealer for assistance. You need an independent valuation before contacting any vintage dealer and I think most of us here recommend George Gruhn, whom you can look up on the net and get a distance valuation from if you can provide pictures etc. and a fee that I last heard was $50.

 

So, look around the WWW and get a real understanding of what mint is to a guitar collector. Find a way to effectively evaluate the guitar's condition and to support all claims you make about the instrument. Contact a reputable expert for a value range and then decide if you want to sell and for how much. Don't expect, however, that you will automatically get the absolute top dollar for the instrument because such a sale is a rare thing indeed. You will usually find that collectors are not willing to pay more than 75-80% of the reasonable retail value placed on the instrument by an expert such as Gruhn when buying in a private sale.

 

So, if Gruhn says $20,000 a dealer might give you $13,000 and a collector might give you $15,000 - that is why I stated $15,000+ at the start. The only way to get $20,000 is usually from insurance after a fire. This is not a suggestion, just an analogy.

[L5Larry]

The model or year is not rare, this being a top-of-the-line guitar, many have survived. There were fewer made in natural finish than sunburst, but the sunburst ones are more sought after and therefore command higher prices. The fact that it is more "rare" than a sunburst does not make it more valuable, in fact, just the opposite. Most players and collectors want the sunburst models, and that "demand" drives the prices up on them.

 

I've seen similar vintage L-5 guitars being advertised, or "starting bid", at 10-12K. Regardless of what the sellers want to believe, they simply do not sell for this amount of money. The funny thing about an L-5, the market is so small, that almost regardless of age, finish, color, etc, they all seem to sell for around the same price, which seems to be 5-8K.

[NornIron]

Thank you for the info so far.... I appreciate the info about "mint" ballcorner...I'd be fairly certain that it is not as mint as I originally suggested, never the lessit has no obvious defects. But i understand your valid point....

 

Thanks to all fo you input....I'm learning...I'll try to get some pics next time I vist the owner if your interested

 

Thanks again!!!

[ballcorner]

I would love to see some pics. I have had a few of these come through my hands in the past 15 years and I always marvel at the tone right before I sell them. They are beautiful guitars and I personally love the blonde ones.

 

L-5Larry suggested a value of $5000-$8000 for a played 1950s L-5. The market in my area would be more like $7000-$11,000 because there is less supply and a reasonable demand (we have three universities with good music programs here in Nova Scotia).

 

Interestingly enough, I recently purchased a J45 (1943) for $4300 and lots of people here felt I got a great price. But in my area, a J45 is a working musician's guitar and regardless of year and condition they never get above $4500 unless they are immaculate.

 

There will be quirks in your market as well that might see the price end up anywhere across the range we have suggested here. Ultimately, the value of a guitar is what you actually sell it for - the price someone is willing to pay.

 

Good luck, and I hope to see those photos soon. To me, an L-5 is a work of art.

[NornIron]

here is some info to throw in the mix...would a uk or us sale be better

 

exchange rate in 1998 1.6

 

making ~8000dollar sale £5000

 

at same exchange rate today 22000dollars mint would be £13,750

 

but todays rate says 0f nearly 2.0 ~ £11k .......a quiet a difference

 

to be honest though...I'll be surprised if it is ever sold.....he loves it too much i think

 

Also if i got the serial number would it be possible to unearth more specific info...

 

THANKS AGAIN!

[ballcorner]

here is some info to throw in the mix...would a uk or us sale be better

 

 

Exchange rates between Canada and the US dollar helped me make good profits with online sales a decade ago. Today, the increased value of my Canadian dollar is helping me buy from the US at bargain prices, but selling to the US to make profit is almost impossible.

 

There are always situations where exchange is going to make a difference, but the ability to handle, inspect and play an instrument usually nets the highest price. If you live in Georgia, it is almost always best to sell in Georgia.

[NornIron]

Right guys i have a little more info since I have contacted the owner

 

This guitar I assumed to be Gibson L-5 CESN

C- cutaway

E- Electric

S- Spanish

N- Natural

 

This is not electric....no pickups, no knobs nothing...just an acoustic guitar...does this change things much??

 

THe owner was talking today about " a gibson shipping book" for guitars from the factory which says that only 3 of this model left in 1958.....its getting more confusing....

 

I appreciate your input.....fireaway with questions...I am working on the photos

Is this what you were thinking it was....or were you assuming (like me) that it was electric?

 

Regards

[NornIron]

Update

 

found

 

http://www.provide.net/~cfh/shippin3.html

 

which suggests only 3 in 1958.......rare??

 

Totally new to this stuff...so please advise

 

Thanks