How do you afford guitars from custom shops and high end instruments?

[John]

Getting a new guitar is great. But, it doens't hold a candle to reaching for one that you've owned for 20 years, know inside and out, and can tell the story of every scratch and ding on the body.

Couldn't agree more. I know some folks have gotten a kick over way more NGD's like they were baseball trading cards, but that just comes across as relatively hollow and short-lived compared to utilizing some instruments that have served you well over the years, and better yet ones you have sentimental value associated with.

The only acquisitions I'd really consider bothering with anymore are instruments that were on my bucket list that are great if they finally come around. (ie- discontinued model I've wanted for ages, but usually harder to come by)

 

[thebeesknees22]

I am a man of simple pleasures, what can I say.


I've always struggled with understanding this, and I kind of wonder if social media has made it worse, in that often times a NGD is just an excuse to take a bunch of pictures and reap in the likes and comments.

Getting a new guitar is great. But, it doens't hold a candle to reaching for one that you've owned for 20 years, know inside and out, and can tell the story of every scratch and ding on the body.

I can relate to the dopamine hit. I mean not just with guitars, but buying stuff in general. I like new things. It feels good to get new things. It's not like a huge rush, but it just feels good. I'm also not really into vintage stuff so if I buy something used it's more of an "cool, this is nice. It'll fit the need" vs "aww yeaah! I got a shiny brand new toy"

I get that without social media, but I can see how that would play a big part for some so they can show off.

 

[Drew]

Couldn't agree more. I know some folks have gotten a kick over way more NGD's like they were baseball trading cards, but that just comes across as relatively hollow and short-lived compared to utilizing some instruments that have served you well over the years, and better yet ones you have sentimental value associated with.

The only acquisitions I'd really consider bothering with anymore are instruments that were on my bucket list that are great if they finally come around. (ie- discontinued model I've wanted for ages, but usually harder to come by)

I want a Tele of some sort at some point, but (unless trends have moved in some REALLY weird ways and I just haven't been keeping up) a fairly traditional two singlecoil Tele is the sort of guitar guaranteed to generate the LEAST amount of interest around here, I figure.

 

[jaxadam]

I don’t have a problem with new guitar threads. I have a problem with new guitar threads that are going to be for sale threads 3 months later.

 

[TheBolivianSniper]

I don’t have a problem with new guitar threads. I have a problem with new guitar threads that are going to be for sale threads 3 months later.

I'm indecisive as fuck, what can I say. I'm making it a point to commit to what I've got once this cycle of sales and exchanges is over though since it's impossible to find what I've got currently.

Ya boy has the attention span of a goldfish.

 

[ChrisLA]

Have always been interested in where wealth and money comes from, and it appears a lot of you are r1ch! I am curious what you gentlemen & ladies (are there even women on the internet), do for a living. I see people on threads with 3 custom shops (that's around $12-15K) for just three guitars. What exactly is that you guys do that you can afford these instruments?

I get having a job, and I have one myself, but I have a difficult time dropping anything more than $1.5K on a used guitar. I wouldn't ever drop $1K on a new guitar because that would speak too much volume about where that guitar is made.

I'm curious if it's bad financial decisions, impulse purchases, or you're just straight loaded. And if you are able to make these decisions, you needed to some extent, the initial capital so I'm curious what the story behind your purchases are. I'd like to hear them even if you were saving for years and were finally able to afford one, etc.

Prioritizing I guess, at least in many cases. I have friends with hi-end stuff and a nice recording set-up at home, but that skip overseas holidays and drive an old car.
I also have friends that are simply cheap or not dedicated enough, they think a guitar for 2-3k is crazy expensive but at the same time they buy stuff like Motorcycles, huge TVs, audio equipment and ATVs just "for fun" for WAY more than what a Custom built guitar would cost.

 

[JJ Smitee]

Save money; buy n sell good ones so you can get the other ones; BUY USED WHENEVER POSSIBLE. Reverb is GOD. Lol

I save and buy a lot: we have no kids, we don’t go out…Ike some folks said, 15k isn’t even the price on a decent new car (although you CAN get a good used one). There are basses like the ones I’m saving for like Wal and Carl Thompson that cost 7k and up, but yeah you can get that back (if you’re nutty enough to sell).

Get what you can and enjoy it because you get one life.

 

[joedreamliner787]

Hey so here is how I've done it.
It took over a decade to get to where I am at. Yes I make alot of money but that is because I became an electrician, then a fire system engineer and I own a company engineering and installing commerical fire alarm system. The the first 3 years of business I broke even. After that the business revenue climbed between 18-26% per year. The past 3 months I did more volume than I did the entire year last year. This is due to constant repeat business, taking on new clients that generate recurring revenue in monitoring, inspections and service which is mandated by national, state and local jurisdictional codes with amendments. For every 100 accounts it generates 56K per year in revenue. Currently at 352 accounts at the time of this writing. It took an entire decade to build it. For engineering services, this generates close to 2-7k per month pending how many clients call for fire alarm engineering service. 9 times out of 10 they don't have drawings of old buildings so I physically go to the site and generate an architectural base plan in Autocad live at the location to facilitate the fire alarm design. This will usually be in the 4k range just to draft it for a 3 story building. My car is paid off, house free and clear. I have zero debt and no loans. The key is finding something you are incredibly passionate about so it does not feel like work. It's beyound a job and career. It has to feel fulfilling. Today everything is going to subscription base services. Any area that creates multiple streams of passive income is essential. My buddy sells web domains. He basically buys and flips them to local business making an average 100-500 per site which doesn't sound like alot however he will sell on average 10 per day working only 3-4 hrs per day. When you have no debt and your income is great you can really grab some nice gear. I remember when I was 16 not being able to afford anything but a cheap Jackson or Fender strat. I also had cancer twice which I beat and it put my drive into over drive and now I don't think twice if I want something. When I was going through chemo the real agony wasn't being able to play guitar because I was terribly tired and had no strength. So today being healthy I don't take any day for granted. That is my story and how I got hear. I hope that helps

 

[Neon_Knight_]

I have 8 guitars, of which half were bought new (but on clearance deals) and half were bought used (at <50% new price). It has taken a lot of time and patience for me to find good deals that made these guitars affordable to me. None are custom shop, but I have an Ibanez J.Custom and 5 prestiges.

I don't have any kids to pay for and am generally quite tight/careful with my money. My first guitar (low-end) was bought with money I got for my 18th birthday. 6 of the other 7 were purchased when I got a pay rise or bonus at work. The other was just too good a deal to pass up on (and I had the money available).

Most people I know who've commented on how much I spend on guitars have spent FAR more than me on cars, so "priorities" are definitely relevant to what people can/can't afford. I know plenty of people on similar income to me who upgrade their car every few years and as a result have little spare income and haven't saved up a deposit for a house. If I had bought fewer/cheaper guitars, the money saved would have been used to overpay my mortgage (which will be paid off years before I retire without any overpayments).

EDIT: I also don't splurge on expensive holidays, like some of my friends/relatives, which could easily exceed a music festival (I go to Bloodstock Open Air each summer) + a guitar/amp + multiple gigs each year.

 

[DoctorStoner]

There are so many good answers here!!

When I was younger and making small money, $5-7 an hour or so, I would put away 10% for 'fun' stuff if I had enough to spare. All of the rest went to necessities (rent and food) or savings/retirement. Nowhere else.
Then when I eventually had $3k in my savings, I bought my fist used 7 string for $300. Years later with $10k in the bank, I bought my Loomis for $1000.

Luckily I got myself through college with mostly scholarships, then moved in with my parents for a couple years after the 08 crisis and losing my job and hope for real employment, I worked in retail with a BS in engineering for 3 years. I eventually found a job and have been working my way up for 9 years. Far from rich, but with no kids, it's comfortable.

TLDR; Engineer with disciplined savings strategies.

 

[damigu]

A lot of times, there's a bit of price inflating involved.

I have a 25 year old bass. What is it worth?
I bought it used in 1999. It took a lot of haggling but I got it for $500, but the sticker they had on it was $700 (had some dings, needed electrical work, and I bought it along with other stuff so they knocked still a bit more off as a "bundle" thing). Inflation puts that $700 value around the $1100-$1200 range today. That's about realistic for what they usually go for these days. But one recently sold on Reverb for $1800 after a bidding war.

So what's it worth? $1800 isn't strictly being dishonest. But I only paid $500 for it.

 

[budda]

A lot of times, there's a bit of price inflating involved.

I have a 25 year old bass. What is it worth?
I bought it used in 1999. It took a lot of haggling but I got it for $500, but the sticker they had on it was $700 (had some dings, needed electrical work, and I bought it along with other stuff so they knocked still a bit more off as a "bundle" thing). Inflation puts that $700 value around the $1100-$1200 range today. That's about realistic for what they usually go for these days. But one recently sold on Reverb for $1800 after a bidding war.

So what's it worth? $1800 isn't strictly being dishonest. But I only paid $500 for it.

So if you sell you'll make money. Where's the issue? There's no dishonesty here?

 

[Neon_Knight_]

So if you sell you'll make money. Where's the issue? There's no dishonesty here?

Exactly!
I have paid 30-50% under RRP for all of my new guitars, in clearance deals, so theoretically could have flipped them on the used market (in mint condition) for a slight profit.
My used guitars were also bought at the low end of what the models routinely sell for, and some have gone up massively with inflation.

If I valued my guitar collection based on what I paid, I would be leaving myself well short if I ever needed to make an insurance claim on them. For example, I bought a mint RG2550 for about £500 used years ago, but could now sell it for more (it's still in fantastic condition) and my insurer would have to pay more like £1500 to replace it with a current equivalent model ('new for old' policy).

 

[damigu]

So if you sell you'll make money. Where's the issue? There's no dishonesty here?

That's kind of my point. It isn't dishonest if I say it's an $1800 bass because one did sell for that much. But that is inflating the much more realistic market value of $1200.

I think a lot of that goes around when people talk about the value of their guitars. It becomes a bit of a measuring contest. They'll tell you the highest price they've seen one go for -- maybe even round it up a bit -- instead of what the more realistic expected value would be. Or, if they bought it new, they'll tell you the MSRP instead of the actual market price they paid.

 

[/wrists]

Save money; buy n sell good ones so you can get the other ones; BUY USED WHENEVER POSSIBLE. Reverb is GOD. Lol

I save and buy a lot: we have no kids, we don’t go out…Ike some folks said, 15k isn’t even the price on a decent new car (although you CAN get a good used one). There are basses like the ones I’m saving for like Wal and Carl Thompson that cost 7k and up, but yeah you can get that back (if you’re nutty enough to sell).

Get what you can and enjoy it because you get one life.

I'd agree with the sentiment of buying used for sure.

 

[budda]

That's kind of my point. It isn't dishonest if I say it's an $1800 bass because one did sell for that much. But that is inflating the much more realistic market value of $1200.

I think a lot of that goes around when people talk about the value of their guitars. It becomes a bit of a measuring contest. They'll tell you the highest price they've seen one go for -- maybe even round it up a bit -- instead of what the more realistic expected value would be. Or, if they bought it new, they'll tell you the MSRP instead of the actual market price they paid.

But it was a bidding war which is how it sold for $1800. That tells you the market is hot enough that $1600-$1800 would go quick. So price at $1800 and either it sells in hours or days. $1200 seems like "great deal" territory because again, bidding war at $600 higher.

 

[soul_lip_mike]

One interest thing to observe is seeing some really high-dollar NGD posts by people who in other threads discussed receiving stimulus checks. Economy was definitely stimulated!

The odd thing there is that to receive stimulus you had to be under an income level to be eligible.

 

[/wrists]

One interest thing to observe is seeing some really high-dollar NGD posts by people who in other threads discussed receiving stimulus checks. Economy was definitely stimulated!

The odd thing there is that to receive stimulus you had to be under an income level to be eligible.

yea i used my stimulus check as savings and put it in the market though

 

[Nitrobattery]

Not to brag, but I'm in my 30's have spent a large portion of that time with up to 10's of dollars in savings.

Really though, lots of buying/selling/trading where the deals lean in my favor, a lot of right place at the right time, and being lucky enough to make something resembling a living doing something I love. It's just where your priorities fall. Smoking a pack of cigarettes for a year is the same money as a custom shop guitar. It's amazing how much you're left with at the end of the year when you cut out little unnecessary things.

 

[John]

disciplined savings strategies.

Even this much as been overlooked, from what I've noticed among several others guitar-related or otherwise.