L-5 CES Value

[ChampagneMD]

I'm traveling a couple of hundred miles to look at a one year old L-5 CES this weekend. Got over a couple of authenticity questions. (Thanks, Jazzer) The seller actually dropped it at the originating dealer and they spoke to me today. Still, it's a private sale from an individual so I'm wondering if the mid $6K is anything close to where I should be on this guitar assuming I like it once I have a chance to sit with it a spell.

 

The seller is hurting for some scratch but I want to be fair for both of us. There's so few around I don't know how to compare.It's an Ebony 2010 rated at a 9.5 out of 10 by the seller.

 

Any input would be great.

 

Regards,

 

Mark

[L5Larry]

His asking price is a bit too high. L-5CES's are just not bringing that kind of price. The fact that it is black also detracts from the market value (vs sunburst or natural).

 

I would say $5K is the TOP end of the value.

[stein]

I was curious so I did a little looking.

 

Obviously, the thing to do is look in the blue book value for used guitars. Lucky for you, you are able to have the guitar at the dealer it was origionally bought from, and they should be able to look it up for you. The blue book is accurate, but it is about 6 months to a year behind (as they collect data from actual sales) so getting values from current to the last year will give you an idea of a trend.

 

Archtop and high end guitars are extremely difficult to price right now because the market is doing all kinds of wierd things, and prices are going down. While yours is not in a vintage or collectable catagory (yet) Gibson no doubt has used the vintage pricing to come up with thier new prices.

 

There is a current model that list for a rediculous 12k but they regularly price on the net for $8600. Wes montgomery models seem to go for less, at about 7k.

 

A word about the finish: Ebony is the least desireable and the least expensive color, not because it is a bad color. It could be because Gibson uses less pretty wood for that color, but regardless, Ebony should be at the bottom of the price range, just so you know.

 

Those are the facts as I believe, so now my opinions:

 

When and if the market ever stops pricing guitars based on untangibles like "investment" value the L-5 should be the most likely to have real value, as they are the hardest to make, and represent a sort of flagship status as a result. They are and will always be a desireable guitar on SOME level and will always be expensive to make. It isn't like paying 15k or 30k for a guitar that cost 2k to make and sell new. And it is not like there are so many out there that they will sell for far less than they can make them for because no one wants them.

 

Now, for me, When I buy, I don't personally split hairs on price. I may tend to look at it in a way of how much am I ok to loose if I pay too much. Like for example, if I settled in my mind that it was possible the guitar was only worth 5.5k and I was ok spending a grand over, it eases my mind and lets me think about what I personally want. (especially when it is impossible to know).

 

And that leads to this-I like to think about where and who my money is going to. I am way better off in my head giving more money and possibly overpaying to a good guy or having my money do someone good than underpaying to some jerk.

 

And sinse I am on sort of a rant, I will add that I don't agree that anyone should buy a guiter as an "investment", but they are an "expenditure". The only investment they should have is as an investment in YOUR playing and enjoyment, but not to make a buck or two. It should be about what it is worth to you and what you need to spend to get it. If they were to go down by, say, 2k in the next 2 years, would you be getting anything out of it? Is 2 years of playing one worth the 2k?

[jimmyl51]

You don't want to buy an ebony finish L5CES. $6000! For an ebony finished L5? You have to be out of your mind. With the economy in the doldrums you will have NO problem finding another one........jim in Maine

[stein]

Ebay shows 2 Wes models going for 5k and 4.3k right now.

 

Also, gbase is full of L-5's, but many say "call" for the price (can't really blame them with the market the way it is), but gbase also shows some MUCH more desirable L-5's going for around 6.5k to around 10k. That might give an idea both what they may ask for some that don't have the prices listed, as well as what you might expect to find for the 6.5k.

 

Personal opinion time again: L5LARRY seems to be right with his comment, and he knows a lot more than I do. If you bought that guitar for 5k, you would be doing him a huge favor. If you paid 4.5k, you would be doing him a favor. If he is going to unload that guitar to a dealer, he is going to have to take a HUGE hit if he really needs the money.