Ballpark value of your gear collection

Discussion in 'Bad Dog Cafe' started by NewKid, Sep 9, 2019.

  1. Old duck

    Old duck Tele-Meister

    Age:
    72
    Posts:
    154
    Joined:
    Feb 18, 2019
    Location:
    SW Oregon
    There are a number of ways to value stuff and it sounds like folks here are using just about every possible way. What you can sell something for on Craigslist is probably nothing like what it would cost to replace it, or what you should insure it for. Almost all homeowners insurance has a very low limit for what they'll pay for musical instruments and equipment. Most offer a rider or separate policy for large values of instruments, cameras, guns, jewelry, and such. Items have to be listed with serial numbers. Photos are suggested also. If items are not new enough to use new sales prices, I tend to use what it would cost to replace on Reverb to estimate values. Anyway, I have about $25-30k of listed guitars, amps, etc.
     
    NewKid likes this.
  2. telemnemonics

    telemnemonics Doctor of Teleocity Ad Free Member

    Age:
    59
    Posts:
    16,399
    Joined:
    Mar 2, 2010
    Location:
    Maine
    You couldn't pay me enough to do an inventory of all my gear and come up with a valuation.
     
  3. Chud

    Chud Poster Extraordinaire

    Posts:
    8,315
    Joined:
    Dec 30, 2010
    Location:
    New York City
    Way too little for what I paid for it probably. Lol


    Sent from my iPhone using Tapatalk
     
  4. LGOberean

    LGOberean Doctor of Teleocity

    Age:
    65
    Posts:
    10,316
    Joined:
    May 31, 2008
    Location:
    Corpus Christi, Texas
    Hmmm..."ballpark value" or what I paid? In your OP you talked about what you spent over the course of a decade on your current gear. I wouldn't call that "ballpark value." I'm not criticizing. I'm just unsure how to comment. The fact that several instruments in my modest collection were gifts complicates matters even further.

    I'll go with ballpark value. I have 14 guitars, and calculating what it would take to replace them, I'd say the ballpark figure would be $9,500. And that's for guitar purchases ranging from 1983 to this year, so, pretty frugal. Furthermore, because of several factors (some were gifts, my Logan Customs would cost more today than when I acquired them, etc.), $9,500 isn't what I paid, but the ballpark figure of what it all would cost today.

    Oh, wait, you said current "gear," so amps too, I take it. Alright, adding 5 amps and a powered speaker to the mix, that's about $1,400 more. Again, you can see how frugal I am.

    As for playing and gigging with all this gear, I do a fairly good job of spreading the love around as far as home playing is concerned. But gigging? I've predominately had a go-to electric (tele) and a go-to a/e guitar. It was this tele...
    06-16-2015 - Me at CCBC Reunion gig.jpg

    Now it's my newest tele...
    06-28-2019 - Logan Custom Firecaster II, Beth's pics - 1.jpg

    As for the acoustic/electric rig...
    06-01-2018 - My Logan Custom acoustic-electric & Fishman Loudbox Mini.jpeg
     
    NewKid likes this.
  5. Old duck

    Old duck Tele-Meister

    Age:
    72
    Posts:
    154
    Joined:
    Feb 18, 2019
    Location:
    SW Oregon
    Wait until it all burns up in a fire and you have to do it from memory........
     
    telemnemonics and NewKid like this.
  6. moosie

    moosie Doctor of Teleocity Silver Supporter

    Posts:
    15,138
    Joined:
    Jul 18, 2010
    Location:
    on the roof
    I've asked my insurance broker repeatedly if there's any extra coverage I need for roughly $50k in gear, and each time I'm told 'no'. I'm covered for full replacement value. I assume that means if I bought something new, I buy it again, new. If I bought used, I'm not sure if I get to replace it new, or with a prorated used price. Either way, I should be made whole. If the latter, it might take longer, as I'd have to replicate not only the gear, but the deals I got, some of which were one-time opportunities. Now that I'm thinking of it, I'll call them tomorrow and find out. Also, I know there's an overall limit on total replacement cost, but it seems very generous, and we should be able to replace everything, including gear, without hitting the ceiling.

    Because of this, I just record models, serials, features, mods, etc. No values. And there are plenty of photos documenting ownership.
     
  7. beninma

    beninma Friend of Leo's Silver Supporter

    Age:
    42
    Posts:
    2,271
    Joined:
    Mar 17, 2017
    Location:
    Massachusetts
    Not that much actually, and my wife couldn’t really complain because she gave me guitar lessons for Christmas and caused the whole thing to blow up. At that point I had one acoustic guitar worth $400 and then she hooked me up with my teacher. So much for that.

    We probably have $4k of music stuff, mostly my guitar stuff. But we have a keyboard and drum kit and those aren’t really mine alone.

    I’ve spent at least 2-3x on lessons than gear over the years.

    I got rid of my motorcycle when our son was born, I got a lot of brownie points for that and guitar doesn’t seem to burn them up too quickly.
     
    tfarny likes this.
  8. telemnemonics

    telemnemonics Doctor of Teleocity Ad Free Member

    Age:
    59
    Posts:
    16,399
    Joined:
    Mar 2, 2010
    Location:
    Maine
    Yeah that was a concern for a while when my wife and I moved in to part of my old Mothers house to help her with aging/ health issues that soon included dementia. Chain smoking, starting fires in the house and in her jeep.

    Talked about a rider with the homeowners insurance agent and they required third party paperwork on every single piece of gear.
    Camera gear was also in consideration, and a small chain camera store agreed to do valuations on a bunch of gear including very vintage stuff that had no modern equivalent.
    They dealt in new and used camera gear as well as darkroom equipment, also selling on ebay when local ME/ NH/ MA markets didn't bite on obscure stuff. So they would search ebay sold listings and document their estimated values based on pics and descriptions of some or in hand inspections of other.

    But when I explained this to the ins agent they refused to accept valuations based on ebay sales.

    As far as the guitar gear, they didn't seem to want to accept pics of the gear, and they suggested i go to an auction house for professional appraisals.
    I felt that auction houses would know antiques and collectibles but not so much partscasters and hand wired clone amps.

    The flip side of all this is that in the mid '90s I lost what I then estimated as $100,000 worth of music and photo gear to a dope habit.

    The last place I lived at the end of my addiction burned, and another place I lived in Boston where my band rehearsed and we had all our gear also burned a little, but I ran into that durn fire and put it out when it was only person size and right next to the natural gas furnaces.

    Yeah I got a lot to lose but I've lost a lot and replaced it.
    Half my feelings about STUFF at this point is it's a burden, a boat anchor, a conspicuous consumerist problem that harms as much as it helps.

    Not that feelings will buy me new guitars, but how much gear do I really need?
     
  9. NewKid

    NewKid Tele-Meister

    Posts:
    343
    Joined:
    Oct 30, 2011
    Location:
    Seattle
    This has been a very enjoyable thread. I never thought about what I had invested in my current gear until yesterday. I appreciate how everyone has added their own perspective. There are certainly no wrong answers.

    I doesn’t really matter to me what I paid for everything because I love it all and have no plans to sell any of it. I consider what I have a relatively modest collection but was surprised by my total, especially after adding in amps, pedals, accessories, setups, tools, etc. It’s my hobby and far less expensive than when I played 60 rounds of golf a year.

    Thanks to everyone!
     
  10. John Backlund

    John Backlund Friend of Leo's Gold Supporter

    Posts:
    3,811
    Joined:
    Nov 2, 2003
    Location:
    South Dakota
    Here's some photos of my orange Eastwood Katalina, one with the original green prototype...
    IMG_20180420_154146128.jpg

    IMG_20180420_153622570~2.jpg

    IMG_20180420_153637383.jpg

    IMG_20180420_153800831.jpg
     
    NewKid likes this.
  11. telemnemonics

    telemnemonics Doctor of Teleocity Ad Free Member

    Age:
    59
    Posts:
    16,399
    Joined:
    Mar 2, 2010
    Location:
    Maine
    Interesting how insurance agents explanations of coverage seem to differ.
    Could be that the policy differs as well, or it could be on of those SNAFUS where you go to make a claim and the other agent asks you to show them the document saying what the first agent told you. Or they ask for documentation of the gear that the first agent failed to detail in conversation.
    Seems like a call is in order, and if the ins papers don't have specifics, ask for papers that do have specifics for making a claim on lost guitar gear.

    Seems like 30 years ago the ins laws changed due to fraudulent claims of high dollar value stuff lost in stolen cars, house fires etc.
    And 20 years ago comp claims for accidents that took us out of the workforce for life dropped way down.
    Five years ago homeowners ins cos started refusing to sell coverage on a home with a asphalt shingle roof more than 20 years old, or any peeling paint anywhere on the exterior.
     
  12. Rich_S

    Rich_S Friend of Leo's Gold Supporter

    Posts:
    4,461
    Joined:
    Dec 29, 2006
    Location:
    Potsdam, NY
    If I had to sell it all on Reverb tomorrow, it would probably bring about $3,500. My three electrics are Mexican and Korean, and one is a partscaster. My main tube amp is DIY, and my second amp has MuchSX guts with DIY tolex. Lots of pedals, but nothing rare or boutique.
     
  13. NewKid

    NewKid Tele-Meister

    Posts:
    343
    Joined:
    Oct 30, 2011
    Location:
    Seattle
    Thanks for the pics! So cool that these are Gibson scale (24.75”) with a 14” radius fretboard and mahogany body. However, they look more related to Fenders to me with the futuristic design that just looks like it wants to explore space. Love the green one and it’s unique bridge too!

    These guitars are pure fun.
     
  14. Recce

    Recce Friend of Leo's

    Posts:
    2,210
    Joined:
    May 3, 2016
    Location:
    Northern Alabama
    217E1419-C9FA-450A-93A1-C23520AB29BE.jpeg
    I think the amp is worth, well, something and the guitars a bit also. So they are worth that much. I don’t post numbers and I forgot my address.
     
  15. moosie

    moosie Doctor of Teleocity Silver Supporter

    Posts:
    15,138
    Joined:
    Jul 18, 2010
    Location:
    on the roof
    We use a local agency, and I know each person there by name, and they've all been there for more than a decade. We've been with them since '85, when they used to provide the business insurance for my construction company.

    They shop our homeowner's policy periodically, or whenever we request, and get the best deal, with what they feel are the most reputable firms. So, they filter out the cheapest, because they know we would be ill-served. Any time we have a claim, I go through them initially, and they're very responsive. If they say nothing more is required, and I'm covered, I tend to believe them, especially since I've asked specifically about that. I figured when they realized I had so much money in it, they'd change their tune, but no, they assumed it was like that. And most interesting, this isn't just one policy. It's been the same each year, even though they've shopped different carriers. And no one ever asks for documentation.

    I'd happily pay an extra few hundred a year to be absolutely sure I'm covered. We have an umbrella policy, too, I wonder if that's picking up some slack? I thought that was just for liability, not possessions...
     
  16. telemnemonics

    telemnemonics Doctor of Teleocity Ad Free Member

    Age:
    59
    Posts:
    16,399
    Joined:
    Mar 2, 2010
    Location:
    Maine
    Interesting and odd.
    Maybe the way I pressed the agents for details made them struggle to answer my questions regarding what proof I needed to provide them before they would give me $50,000 based on my honor system list.
    At one agency I also knew them for a good many years, and both I and my Mother had multiple policies with them.
    Three different ins offices had the same basic answers along the lines of gear needed to either be recently purchased with docs, or if old it needed value docs.
    I do recall their being casual WRT my gear being covered if I paid for a rider.
    The issue arose when I wanted to know exactly how I would file and collect in the case of a total loss.

    I'm pretty sure that when the house burns down, your friendly local ins sales person is not the one who comes and pokes through the rubble to settle the claim.
    They might have some clout with the claims adjuster though. Testify on behalf of your character? Might be a gentleman's agreement sort of thing.

    Maybe I'm overly cautious?
    Yeah, I'm one of those freaks that starts reading a contract I'm expected to sign, generally followed by the contract writer telling me I don't really need to read it before signing.
     
  17. Jerry_Mountains

    Jerry_Mountains Tele-Meister

    Posts:
    148
    Joined:
    May 10, 2014
    Location:
    The City of Mountains
    If I have to buy everything again? mmm like 7k more or less.
     
  18. John Backlund

    John Backlund Friend of Leo's Gold Supporter

    Posts:
    3,811
    Joined:
    Nov 2, 2003
    Location:
    South Dakota
    Thanks!

    Keep it in mind that some of them can be rather difficult to play while seated due to their 'slippery' shapes, the Katalina is one of them.
     
  19. moosie

    moosie Doctor of Teleocity Silver Supporter

    Posts:
    15,138
    Joined:
    Jul 18, 2010
    Location:
    on the roof
    I, too, read the policy each year, in full, and often have one or two questions.

    You're right about the adjuster being the one on site. My son's father-in-law experienced this a few years ago, when he inadvertently burned down the family home by scooping 'completely dead' fireplace ashes into a paper bag and putting them in the attached garage.

    They got every single thing replaced, hardly any questions asked. Big stuff, all the way down to the pencils that were in the desk in his office. Even a month later, when they were still remembering stuff, no problem. And the house was rebuilt, better than before.

    He said the whole process was incredibly easy.


    One thing you mentioned. I don't know that I addressed this with my insurer, but all my stuff is relatively new, except for a few 'old' amps (A trio of SF Fenders). I imagine if I said I have a 2008 Collings CL that's now garbage, they'd be OK, just order one from Collings. Determining value is pretty easy in that scenario. But if you have a bunch of really old, and possibly valuable stuff, maybe they sense it's a get-cash scam, because fact is, it's irreplaceable, and will be settled in cash. I imagine that puts their hackles up a bit. Especially if you were pressing them for details before the fact. Like "how do I burn down my house and profit?" :lol::lol::lol:
     
    telemnemonics likes this.
  20. Old Deaf Roadie

    Old Deaf Roadie Tele-Holic

    Posts:
    767
    Joined:
    Oct 11, 2017
    Location:
    Oregon
    Priceless...to me.
     
    moosie likes this.
IMPORTANT: Treat everyone here with respect, no matter how difficult!
No sex, drug, political, religion or hate discussion permitted here.


  1. This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
    By continuing to use this site, you are consenting to our use of cookies.