Stupid for buying an overpriced Les Paul?

Hi Gang: I have a confession to make: I got really caught up during the Les Paul auction this past weekend and ended up buying a 2007 Les Paul Classic for $9,600. :oops: (Hey, there was NO WAY that I could afford the Nocaster that ended up going for more than $200K!!!)

I guess I was thinking about my one-year-old son and how cool it would be if I could give this to him as a gift in the future when he graduates from high school or college. There's a little more to my son's story, but I won't bother you all with that.

Getting back to the guitar, it's a honey burst and has a bound headstock, which the auctioneer wrote was unusual for this type of model. I know how much cheaper these things are in the real world, but I just thought it would be neat to have a Les Paul owned by Les Paul himself. The guitar is in such good shape that I'm sure Les never actually played it more than a few seconds, but it did belong to him regardless.

My question: How stupid a move was it to buy a Les Paul Classic for $9,600?

Humbly yours,

Poi

Les Paul's aren't known to depreciate in value and I'm sure that the fact that it came from the guitar collection of Les Paul himself (!) won't hurt either! Personally, there's no way I could justify that kind of money on any guitar; That said, you've got yourself a truly one of a kind guitar (assuming Les Paul didn't have any more of those exact models). I think this is probably one of the coolest pieces anybody could possibly hope to add to their collection, and there's NO WAY that this will be a loss in the end. It may not have been a big ticket item like that Nocaster, but it's still a piece of history! By the time your son graduates from high school, this guitar will probably have appreciated in value significantly.

Congrats on the purchase!

Thanks, Shifty! I guess I was kind of fishing for that type of affirmation. My heart is still racing from making such a huge purchase. Hopefully, that kind of money will be nothing 20 years from now. "You got that for only $10K!?! Dang, that must've been the deal of the century!!!" Thanks again!

Any time man! It's definitely a cool buy. You (and your son) will undoubtedly be the envy of quite a few people because of this

It was owned by les paul! Not only was he an iconic guitarist but also invented one of the greatest guitars ever! Good buy! It will hold its value.

Could have come to America and paid a lot less for that guitar

Sometimes you have to ask yourself why do you work? Occasionally you need to indulge yourself otherwise life gets pretty pointless.

Also as others have said albeit slightly differently you have just purchased an Asset. Most things we buy are pretty disposable - that's an expense - they don't have any useful life. At least the Les Paul is going to last a long while (if you look after it) and will have a value even if you decide to sell it down the track. So apart for the upfront outlay of the cash - you haven't really lost all your money - it's just been converted from a liquid asset (cash) to a non-current asset. I dare say it won't depreciate like a motor vehicle - it may even appreciate.

Hope that makes you feel a bit better.

Sometimes you have to ask yourself why do you work? Occasionally you need to indulge yourself otherwise life gets pretty pointless.

Also as others have said albeit slightly differently you have just purchased an Asset. Most things we buy are pretty disposable - that's an expense - they don't have any useful life. At least the Les Paul is going to last a long while (if you look after it) and will have a value even if you decide to sell it down the track. So apart for the upfront outlay of the cash - you haven't really lost all your money - it's just been converted from a liquid asset (cash) to a non-current asset. I dare say it won't depreciate like a motor vehicle - it may even appreciate.

Hope that makes you feel a bit better.

Thanks, DeepSouth! I like the way you think! :grin:

Cheers!

Are you planning to play it out or will it be just a collector's item ?

Good for you if you can afford the expense to have $10,000 just lying around .

I'm not a collector, so the guitar will definitely be played. Of course, I'm more of a Tele player, but the guitar is really meant for my son. He's only one year and two months old but has had three major operations (he was born with a rare liver condition and will eventually need a transplant). My dream is, when he gets older, for us to play together and then me giving him this guitar. I know that it's a long way off, but I'd like to get him something special and I didn't think an opportunity like this would ever come up in the future. Don't exactly have $10K lying around, but I'll be able to pay it off this year.

By the way, it turns out that the auction folks got it wrong: the guitar is actually a Les Paul Classic Antique, which has the pups (57's) that suite me better!

http://i47.tinypic.com/15plnxi.jpg

Buyer's remorse. Happens all the time.

If you can afford it, why not? Did your wife approve? Yes? That's good.

Sounds like a good investment. Make sure you save the paperwork!

When you get it, put it away and play it rarely under the safest conditions.

As long as you got some type of documentation saying it was from Les Paul's collection, I think it will hold its value, as well as being a really cool piece.

You bought a Les Paul from Les Paul. I can't think of anything better except a telecaster from Leo's estate. 50 years from now after Slash and players like him have been long forgotten, your son can point to the fact that this guitar was owned by the guy whose name is on the head stock, the guy who designed it and played it. Values go up and down all the time on guitars but this one should last its tied to Les Paul not this weeks guitar hero.

As the economy improves, I feel pretty strongly that any important guitar (old ones or documented ones like yours) will jump in value. The economy is very down right now. Look at whoever bid the last losing bid before you won. That's probably where today's actual value is.

One last thought you may have buyers remorse but I'd be more curious to meet the guy who paid 10 thousand dollars for a bunch of guitar picks that were estimated at 400- 600.

https://www.julienslive.com/view-auctions/catalog/id/71/lot/27901/

At least my friend you have a guitar

Just make sure you get it properly insured!

On that listing you just linked, warren, I found a honeyburst LP that sold for $9600. If this is what you bought, PoliDog, a.) here's a pic for everyone to see; b.) That's one very nice looking guitar. Do not regret buying that for one second!

https://www.julienslive.com/images/lot/99306/0/lot99306.jpg
https://www.julienslive.com/images/lot/99307/0/lot99307.jpg
https://www.julienslive.com/images/lot/99309/0/lot99309.jpg

You can't think of it as $10K for an '07 Classic. You have to think of it as $10K for one of Les's personal guitars. Personally, I can't see myself spending $10K on any guitar, ever, no matter who owned it, or played it, or whatever. BUT, that's me, you can't worry about me, you gotta do you, brother.

Will it be a good investment? Who knows. Unless a day comes when you sell it for a profit, you'll never know. Even official appraisals are nothing but speculation until somebody spends the cash. Will the economy recover? Will the stalled guitar market recover? Will this guitar ever be worth more than you paid for it? These are questions that have no answers today, and might not for a very long time.

I'll tell you this though- It is definitely what you bought it to be. It's a VERY cool keepsake, family heirloom, and gift for your son. Doesn't matter what it's actually worth today, tomorrow, or fifty years from now. You spent money expecting to get a certain something, and you got it. So for you, it was money well spent. Enjoy it, and your time with your boy. Trust me when I say they grow up WAY too fast. He's one now. In what seems like about a week when you look back on it years from now, he's gonna be a teenager and you're gonna be wondering what the hell happened to the sweet little guy who slept curled up with his head on your shoulder. Best of luck to him and his health, and to you as you raise him and love him. You did something very cool for him in buying this guitar.

That's a nice guitar, PDog...did you get some kind of documentation as to where Les Paul got the guitar, and/or that you got it from his estate so that the (what do they call it on Antiques Roadshow...) "provenance" of the guitar will be established for your son and his son and so on. Let's face it, anyone that frequents this website is inclined to indulge themselves occasionally. It's not really $9600.00, the indulgence is really only the difference between $9600 and the normal cost of that guitar. I would say considering what others paid for other items in that sale you got a hellava good deal!!!

PS I would make it college graduation...he'll appreciate it's value more, and it will give you about twenty years to break it in for him! :smile:

On that listing you just linked, warren, I found a honeyburst LP that sold for $9600. If this is what you bought, PoliDog, a.) here's a pic for everyone to see; b.) That's one very nice looking guitar. Do not regret buying that for one second!

https://www.julienslive.com/images/lot/99306/0/lot99306.jpg
https://www.julienslive.com/images/lot/99307/0/lot99307.jpg
https://www.julienslive.com/images/lot/99309/0/lot99309.jpg

Thanks, Mobaar! Yes, this is now my guitar. (I think it was sold two guitars before that $219K Nocaster!) As mentioned, it was erroneously listed as a "Les Paul Classic," but after extensive research during the past 1 1/2 days, I've come to realize that this is actually a "Les Paul Classic Antique."

Thanks to everyone for your kind words! This is exactly meant to be an heirloom and something that I'd like passed down in our family. I don't physically have it yet, but expect it to arrive sometime this week. It should have all the paperwork to confirm authenticity. I'm guessing this was given directly to Les Paul from Gibson, so I'm hoping that it's something that someone from the factory actually took the time to re-inspect and re-test for playability and sound before presenting to Les Paul.

Will let everyone know when it comes, but, for now, I've got to start unloading some of my other gear before the Mrs. gets too upset. :oops:

I think it's awesome that you can do this. I'd love to own one of Les' guitars. This will be a great heirloom for your son.

That's a beautiful guitar PoiDog. It's also one of a kind. There may be others like it, but it's the only one Les owned. If I had the cash I'm sure I would have placed a bid or two during the auction, so I'm not going to pass judgement against you. I think your plan is a good one.

Your son will be grown before you know it. Just start him off on something a little more sturdy. Keep all documentation and take care of that headstock. Congrats

keep it primarily as an investment for now..if your son develops an interest in music and specifically guitar playing then that's great, what a fantastic gift you'll have for him down the line...I tried to instill in my son a love for strings and golf and wasted a pile of money doing it....turns out he didn't want the guitars I bought him, never used the golf clubs he was given and I ended up trading the BMW I bought for him because he had no interest in driving..:shock: I found it's one thing to hope you'll shape your kids into what you think will be very cool but it might work out entirely different but no less rewarding...

that is one beautiful guitar my friend congrats on owning a piece of history.

The guy that bought all the cups of parts, picks, etc. Be interesting to see if he could part them out, sell a pick for 10 dollars for example with a certificate of authenticity and make a lot of money off of the stuff.....I doubt it.

Be cool if you could prove the guitar was indeed a one of a kind, probably a presentation piece to Les Paul at least.

I had noted earlier I thought the pre auction estimates very low.

I had noted earlier I thought the pre auction estimates very low.

I felt the same way -- I don't think they were estimated with consideration that people would want something that Les had owned. I saw Gibbys being priced at $1000-2000 and knew it was basic street price if you had no idea who it belonged to.

~Mo

Wow - I'd never fork over that kinda dough for a guitar but if you can more power to ya!

it's definitely sweet - not sure I'd be giggin' it though lol!

Enjoy! Post up pics when you get it OR ELSE! :)

...I guess I was thinking about my one-year-old son and how cool it would be if I could give this to him as a gift in the future when he graduates from high school or college. There's a little more to my son's story, but I won't bother you all with that.

There is a lot of pressure in this part. My son loves music, he is way more accomplished than I ever had been. I gave him my first guitar which I've had for 30 years. He's a drummer, he didn't want it, could care less. And mine is just a Les Paul copy. I have another friend wanted his son who is a guitar player to be excited about his guitar. Son wanted a Jackson, did not want the Les Paul.

There is a lot of pressure in this part. My son loves music, he is way more accomplished than I ever had been. I gave him my first guitar which I've had for 30 years. He's a drummer, he didn't want it, could care less. And mine is just a Les Paul copy. I have another friend wanted his son who is a guitar player to be excited about his guitar. Son wanted a Jackson, did not want the Les Paul.

Kids can be like that. A friend of mine's brother in-law passed away and left my friend's son a Pontiac Firebird. My friend kept it for 15 years and the son was into imports and refused to even get in the car. He went off to college. The car is still in my friend's garage, years later.

It was owned by les paul! Not only was he an iconic guitarist but also invented one of the greatest guitars ever! Good buy! It will hold its value.

Warning: pedantic content ahead...

Les Paul didn't invent the Les Paul - he may have had a small input into the design but his main contribution was to lend his name to it.

It's just money right? Who knows, you might of just made your son rich! Cool guitar, great provenance.

As an "investment"...? Who can say. To me, that's either rockstar money or "can do whatever I want" money. Either way, great gig if you can get it.

How many guitars did the Legend own? That in itself makes it kinda rare.

Warning: pedantic content ahead...

Les Paul didn't invent the Les Paul - he may have had a small input into the design but his main contribution was to lend his name to it.

Ok, so instead we'll say he contributed heavily to the development and design of the electric guitar. Splittin' hairs.

It's a cool guitar, and a great find that the OP got from Les Paul's personal collection. However, if I had an extra 10 grand, I personally wouldn't be spending it on a guitar, especially if you're a player and not a collector. That's just me. I'd be thinking education or paying off house debt or something. But it sounds like we're in different tax brackets.

Very thoughtful gift for your son, PoiDog. Hopefully, our children will like whatever guitars we give them, no matter the vintage or uniqueness. I sure hope my son will like one I am saving for him - my first electric guitar - a 20-year old "Eagle" strat-o-copy with a pointy, Kramer-ish headstock in all white (including the back of the neck) with black hardware. It's probably worth about 35 bucks. What was true for me is true for him - if he can't/won't learn on that guitar, then there's no reason to upgrade him. If he can/does, then he may graduate to something nicer later that he earns.

I think it was a great move. I mean it's a Les Paul proven to be owned by LES PAUL. I wish I could have afforded something from that auction. I do have an '84 gold top that Les Paul signed in 1991 and it's a treasured possession. I get a kick out of showing it to kids and saying, "See that logo on the headstock? See that autograph? Notice any similarities?" They invariably flip out. You have something magnificent in your possession now.

I'm not a collector, so the guitar will definitely be played. Of course, I'm more of a Tele player, but the guitar is really meant for my son. He's only one year and two months old but has had three major operations (he was born with a rare liver condition and will eventually need a transplant). My dream is, when he gets older, for us to play together and then me giving him this guitar. I know that it's a long way off, but I'd like to get him something special and I didn't think an opportunity like this would ever come up in the future. Don't exactly have $10K lying around, but I'll be able to pay it off this year.

By the way, it turns out that the auction folks got it wrong: the guitar is actually a Les Paul Classic Antique, which has the pups (57's) that suite me better!

This, if no other reason, is perfect justification for buying it. I applaud you on your desire to give your son something that I'm sure will mean a great deal to him (growing up in a music loving family). Sometimes we spend too much time analyzing something we did. You did it for a reason that was important to you, for someone you love. 'Nuff said.

It sounds like a great guitar, by the way. I've got a LP Traditional '60's Reissue that I just love! I can only wish that Les Paul had actually owned it. Still, Fender isn't the only company to make sweet instruments!:grin: