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Archive for November, 2018

The Death of Vintage

Friday, November 30th, 2018

This 58 was bought by a 24 year old. Who says millennials don’t buy vintage?

Got your attention now, don’t I? OK, nobody is dying but the conventional wisdom has been that the vintage market will die as soon as the baby boomers (born 1946-1964) stop buying guitars. Where did this so called conventional wisdom come from? Well, not from me, that’s for sure. It’s most likely the result of simple logic. Most of the folks buying guitars from the 50’s and 60’s are folks who coveted those guitars as teenagers. It’s the same logic that the vintage automobile market ¬†clung to until it simply didn’t pan out that way. There is some truth to the logic but it isn’t the big picture.

I’ve been buying and selling vintage guitars for about twenty years now. I started back in the mid 90’s, when the internet and, specifically, Ebay, opened up a worldwide market . It was a hobby until around 2006 when I started getting serious and my main source of income since 2010. From the mid 90’s until now, it is absolutely true that my biggest and most frequent customers have been between the ages of 50 and 65. Interestingly, the age of the clientele stayed about the same between then and now. Of course, if you were 50 in 1995, you are now at the top end of that range and if you were 65, you are probably not buying guitars any more (or anything else for that matter). I believe those who subscribe to the conventional wisdom about the vintage market have their data correct but they have misinterpreted it. I believe it has more to do with disposable income than it has to do with what guitars you grew up wanting. At around age 50-55 a lot of things in your life can change. Your mortgage may be paid off, your kids are out of the house and you may have downsized, college expenses are finished and your income is higher than its ever been. It doesn’t take an economist to figure this out-you simply have more money to spend.

But it doesn’t end there. The belief that the generation behind the baby boomers won’t be interested in guitars from the 50’s and 60’s is faulty. Guitars from the 50’s and 60’s (and some 30’s and 40’s) are better instruments than most of them being made now. There is no doubt that there are some extremely good guitars being made today-especially from boutique builders. But the market still loves the classics and that’s what those conventional thinkers have missed. Disagree? here are some hard facts.

I sell around 100 guitars a year. I keep track of the demographics of who is buying what. The big surprise this year was that nearly half of the high end vintage guitars sold by me were bought by folks under the age of 50. That still means lots of 50 and 60 somethings are buying guitars but, as they say in the commercials, wait..there’s more. It’s a little nitpicky but i sold a lot of guitars to buyers in the range of 50-55. Now, I don’t ask everybody how old they are when they buy something but I get a pretty good sense of it from the conversations. Note that a 50 year old in 2018 is not a baby boomer. I sold six vintage guitars in November. Only one buyer was over 60. One was 24. Two were in their 40’s and two were in there 50’s. The demographics are very similar for the entire year. Last year was a bit different-more boomers. Same with the year before. So, is 2018 a fluke or a sustainable change in the market place? Stay tuned. I’m betting on the latter.

This stunning 59 didn’t go to a millennial but it didn’t go to a baby boomer either.

Headstock Variables ES-355

Sunday, November 11th, 2018

I recently wrote a post talking about how the ES line is “upside down” which dealt with the real world fact that 335’s are more valuable than their upscale brethren, the 345 and the 355. I posted a photo of two 59 ES-355’s side by side and I received a comment about how one of the 355’s had a shorter headstock than the other and that this was a known characteristic of Les Paul Customs (which have the same headstock design). I was aware that there was some variation among headstocks in 335’s but never really dug too far into it. Back in 2014 I made note of the fact that the 1958 ES-335’s often had a slightly elongated headstock when compared to 59’s. You can read about it here.¬†But I was never aware that there was a significant variation in the 355 headstocks as well. A little research reveals the reason (and I already covered that)

In 2017, I wrote a post called “Stinger Things” which revealed the reason for many, if not all stingers found on ES-355’s (the most common ES with a headstock stinger). You can read that post here. If you’re too lazy to read another post, I’ll give you the short version. Most 355’s with a stinger have necks that were converted from 335 or 345 necks. The headstock of a 355 is wider and longer than a 335 headstock. The discrepancy in 355 headstocks is in these conversions-all of which have a stinger. The two 355’s in the photo in the “Upside Down” post that was commented on by the sharp eyed reader shows two 59 ES-355’s. One has a bigger headstock than the other. Fortunately, I still had both of those 355’s in my shop and I took a closer look. Here’s the photo:

You can sort of see that the headstock on the left is a little smaller than the one on the right. Look at the truss cover-it is closer to the diamond inlay and closer to the nut on the one on the left. I know, the perspective is making it look greater than it is but that’s the photo I have.

As it turns out, the one on the left has a stinger and, as I showed you in the “Stinger Things” post, that stinger covers a veneer that covers a set of tuner holes that were spaced for a 335 or 345. Since the front of the headstock gets a different overlay and inlays, you don’t see the old tuner holes on the front. In order to cover them on the back, the veneer was placed there. To cover the veneer, they just painted on a stinger. But wait, the 355 headstock is a good bit wider than a 335 or 345 headstock. Easy fix. A 335 and 345 headstock is really three pieces-the middle piece is the neck itself but there are two wings on either side that give the headstock its width and shape. So, to make a 355 headstock, knock off the 335 wings and add a bigger set of 355 wings. The one thing they couldn’t change was the length of the headstock when converting a 335/345 to a 355. Thus, the discrepancy in headstock length on the two 59’s. I’ve seen it in 1960 as well but since I don’t see as many 61-64 ES-355’s, I’ve never measured a stinger version vs a non stinger on an example from those years. Feel free to help me out.

What’s all this then? What they did here was to take a 335 neck-already drilled and ready to go and cut the smaller wings off the sides and put big 355 wings on it. Then the doweled the holes and re-drilled them located for a 355. Then they put a piece of mahogany veneer over it and painted on the stinger. The only tuner holes you see are the original Grover holes. Definitely factory but definitely a little shorter than the usual 355 headstock. Mystery solved.