As seen on TV
We're back to 2007 loan standards...if it breathes, it gets a loan. Cars are a necessity for many people. certainly waaaay more important than a new or even a used guitar. A cellphone to many people is waaaay more important than a new guitar. How's a prospective employer supposed to call you in for an interview?
The guitar/MI market is soft now and will continue to soften over the coming years. Why?
Oversupply (high inventory of new & used instruments)
General and broad lack of disposable income
Future prospects of income are bleak to non-existent
Changing demographics (aging, interest, popularity, boomers dying, lack of interest among the young)
Music instruments are NOT unique among recreational interest markets. Sewing, sports, hunting, fitness and health, travel and more are all suffering to some degree. Even general retailers are feeling the pinch. Sears and Radio Shack claim that if they do not have a healthy Christmas season this year they may end up closing down. Sure, everyone is working hard to keep a smile on their face and painting a pretty picture of how "things are going" but the bottom lines are not looking good and many are struggling far more than they are letting on. The first quarter of next year is going to be filled with all manner of bleak financial news and will not be improving for the remaining quarters.
People are scared of buying counterfeit guitars and being charged the price of a real one, and getting had. Here is a local TV show where someone sued someone over a fake JEM guitar. He paid $1900.I have a hard time believing that has any impact, whatsoever.
I went a guy's house to buy a Blues Jr. from his Craigslist ad a couple of weeks ago. ($170... I considered that a bargain)... and played his "Fender America Strat" to test the amp before handing over the money. That guitar felt like crap, felt "wrong." He was bragging about the great deal he got on it, only playing $350 for it. I'm fairly sure it was a counterfeit.Counterfeit guitars are not helping either.
I'm with this guy. I've made offers on things I see locally, I get the: "no thanks it's worth way more!" routine, then watch the price go down week after week until it's right around my offer.If things are priced right, they will sell.
The problem I see a lot these days with used guitars is people thinking what they're selling is worth WAY more than it really is...
This. I've been tracking down a specific axe the past couple weeks and know what they go for on several sites as well as in some shops recently used. Several sellers have them priced double the street value and are unwilling to negotiate. Their loss.I'm with this guy. I've made offers on things I see locally, I get the: "no thanks it's worth way more!" routine, then watch the price go down week after week until it's right around my offer.
In both of those cases, the buyers knew. It's more problematic when the guitar is priced like a genuine article. The counterfeiters are getting good. With expensive items, there is a certain expectancy that the value will be retained or that it will go up. If someone buys a painting for 5 million dollars, it's because they think it will be worth more in the future. In the video I linked, the guy paid $1900 for a fake JEM.I went a guy's house to buy a Blues Jr. from his Craigslist ad a couple of weeks ago. ($170... I considered that a bargain)... and played his "Fender America Strat" to test the amp before handing over the money. That guitar felt like crap, felt "wrong." He was bragging about the great deal he got on it, only playing $350 for it. I'm fairly sure it was a counterfeit.
A few years ago a co-worker wanted to show me his new "Les Paul." I had bought his Epi LP a year or two before when he needed some money. He opened the "Gibson" case and show me a brand new "Gibson" LP. He had a bit of a grin on his face so I should've known something was up. He told me to give it a try. I lifted it out of the case and noticed immediately it weighed substantially less than my Epi. He soon confessed he'd purchased it off of a Chinese website and knew when he was ordering it that it was 100% knock-off. It looked surprisingly good but just didn't feel right. I never heard it plugged in but I suspect that would've been a give away as well.
Since that experience I must confess I'm a little extra cautious when a deal feels too good.