buying friends guitars?

[analogwarmth]

my friend has a godin lgx-sa, the one with the 13 pin roland, and the acoustic transucer. his grandpa gave him the money to buy it 4 years ago, but now he wants to sell it. should i buy it from him or talk him into keeping it? it's a nice guitar and i would love to have it, but at the same time it's something of value i don't think he sees as such , but will later on.

 

[Caretaker]

IF you have the $$, buy it from him and enjoy it, but at the same time, be willing to sell it back to him. It`s called looking out for a friend.

 

[rastus]

I just sold my 77 Les Paul Artisan to a buddy that has admired it for many years for about half what it's worth. On one condition: If he ever sells it, he has to sell it back to me, same price. Because otherwise, I would have sold it for the market price, which he could not afford, and he understands that. So it worked out fine, but in such a situation, it's important that the terms are crystal clear.

 

[tybone]

Rastus speak the truth you know.

 

[buchla300]

Conditions between friends can go wrong btw
Not being negative, just mentioning.

I usually say a sale is a sale. Keeps things simple. Selling to a friend for half the value is certainly a good thing to do, but I would actually rather they pay a bit more later when they can and get to say 75% of the value and call it THEIR guitar full stop (or whatever percentage you are fine with).
That way, you never feel like you got really under market value and they can do what they want with the guitar. Otherwise, he doesn't really OWN it as such.

With the Godin, I would buy it and personally keep it for the friend. When his Grandpa passes on, or when he just is reminded about him somehow he may feel that it is something that bonded them and you can then just hand it back and say "told you not to sell ;-) "


BUT it's your call.

 

[Gasp100]

I sold my brand new Reverend to a friend on a payment plan. I asked for $100 less than it was new, but he refused and wanted to pay full price. The stipulation is the payment plan (open ended) which I'm regretting a little because I'm gassing for new gear... but, I'm always gassing for new gear and making rash decisions, so this is probably a good thing. Forcing me to wait until he completes payment.

 

[Jon Silberman]

Several years back, when I complimented his USA Buddy Guy sig. Strat, my good pal Vic offered to sell it to me for a ridiculously low price. I told him in response, "I'll take it but I'm promising you in advance, should I ever want to sell it, you'll have the right of first refusal at the same price." Sure enough, a couple of years later, upon copping my Reverend Avenger, I didn't want the Strat any more and sold it back to Vic for the same price. Everyone was and remains happy! I think this is an excellent example of the difference between dealing with strangers and with friends.

 

[FFTT]

The '85 LP Studio Standard I'm buying from a friend is staying with
him until it's totally paid for.

He offered to let me take it home, but I refused not wanting to have
that debt between old friends.

 

[johneeeveee]

Several years back, when I complimented his USA Buddy Guy sig. Strat, my good pal Vic offered to sell it to me for a ridiculously low price. I told him in response, "I'll take it but I'm promising you in advance, should I ever want to sell it, you'll have the right of first refusal at the same price." Sure enough, a couple of years later, upon copping my Reverend Avenger, I didn't want the Strat any more and sold it back to Vic for the same price. Everyone was and remains happy! I think this is an excellent example of the difference between dealing with strangers and with friends.

I've done the same thing a few times. I have a pretty broad community of musicians/friends that always look out for each other the same way. We call it keeping the instruments "in the family". This way, special instruments can make thier way back to you, or at least you'll see them around getting played by a friend. It's also a way of keeping vintage gear affordable among a group of people.

Peace - jv

 

[rastus]

Yeah, this can be a tough situation. I only sold him that Artisan because he loved it so much. I really don't think him selling it will become an issuebecause of a couple of factors involved. We have been best friends for about 20 years, and I have had that guitar even longer. He knows that I've played countless gigs on it, that it has been refretted twice, modified, and refinned 3 times (I know, I know, the poor guitar didn't deserve all of that).

So, it was easy to agree for us, and honestly, I would have loaned it to him indefinitely, but this was his idea, and I agreed. Truthfully, the guitar occupies a place of honor in his home, he plays it all the time, and he prizes it greatly. I am glad to see something taht I used as a tool has so much meaning to a friend so dear to me. Also, in case of monetary trouble, he knows that I will instantly give him the money, and that the guitar will still be in one of our hands. I really doubt he will ever let it go unless forced to by circumstances beyond his control. At that point, I'll pay him for the guitar, and then give him any more money he needs to take care of things. He is like family to me. He insisted on paying something for the guitar, I'd just have left it at his place forever otherwise. But I understand his wanting to pay something for it also.

 

[mojocaster.com]

IF you have the $$, buy it from him and enjoy it, but at the same time, be willing to sell it back to him. It`s called looking out for a friend.

Bingo, could not agree more. That would indeed be the right thing to do.

 

[brentrocks]

IF you have the $$, buy it from him and enjoy it, but at the same time, be willing to sell it back to him. It`s called looking out for a friend.

+100

 

[flyngtr]

Beware because I know of one person to not make that kinda of deal with

 

[devinb]

This wasn't his grandfather's guitar, it was just bought with money that was given to him...I think you guys aren't overestimating the sentimental value...

 

[gixxerrock]

I think offering your friend a first right of refusal at the same price if you ever decide to sell is the way to go.