Blue Book Value

[joeh77]

I am looking at a vintage guitar I found in a shop in NYC. So I did some research and found that the Blue Book value of that guitar at 98% mint is $700.00 less that what the dealer is asking.

So, I guess the question is, what does the Blue Book Value mean to a potential buyer? Does it differ if the seller is an individual or a shop?

Thanks in advance!

Joe

[chucke99]

Originally Posted by joeh77

I am looking at a vintage guitar I found in a shop in NYC. So I did some research and found that the Blue Book value of that guitar at 98% mint is $700.00 less that what the dealer is asking.

So, I guess the question is, what does the Blue Book Value mean to a potential buyer? Does it differ if the seller is an individual or a shop?

Thanks in advance!

Joe

A blue book published even six months ago is going to have way-over-valued prices on just about every guitar. I would check completed auctions on eBay for similar models to judge whether the price is correct.

And, it wouldn't be the first time a dealer/shop had a guitar priced way over street value. They have to pay rent and utilities, after all.

[joeh77]

"A blue book published even six months ago is going to have way-over-valued prices on just about every guitar. I would check completed auctions on eBay for similar models to judge whether the price is correct.

And, it wouldn't be the first time a dealer/shop had a guitar priced way over street value. They have to pay rent and utilities, after all."

posted by chucke99

The Blue Book is an online subcribtion, so it's pretty up to date. As far as the dealer is concerned,I understand that they have overhead, so a $100, $200, even $300 over book is understandable, and I don't mind paying that extra amount to know I have someone that's around if I have a problem. $700.00 above BB just seems like alot in today's economy to me, as you mention.

Ebay has recent transactions on similar guitars for $200 less than book, up to book value on the model I'm looking at.

Thanks,
Joe

Thanks,
Joe

[bluesjuke]

With the knowledge that marked prices are usually the selling prices you can go from there with that knowledge.

Have you made an offer on it?

[joeh77]

Saw it online and asked if they were firm on price and he took $100.00 off his original price, but I have not actually made him an offer.

Joe

[chucke99]

There's no harm in letting the seller know you've tracked the other sales on eBay and tell them what those prices are, and that that's what you'd be willing to pay. Worst case, they say no and you move on.

BTW, Joe, I grew up in Trumbull (live in Seattle area now).

[franksguitar]

I have the blue books, however, in this economy I've seen prices a bit lower in this economy including stuff I've even sold. Those gouging far above book will not move merchandise so easily regardless of overhead except to the uninformed IMO.

[bigroy]

Books are a guide, they will never write a check for anything. I find completed ebay auctions helpful. And it's always possible that the dealer paid more for it than he should have.

[treeofpain]

bogroy is correct - a guide only, not Gospel truth.

If the dealer paid more than he should have, there's no reason you should make the same mistake.