You can't erase them, but if there are (VERY unfortunately) another billion people in the world, the demand may be there.It’s a blip. It will not last.
You cannot erase all the hundreds of thousands of guitars the boomers will be leaving when they die and the fractional amount of successive generations (Gen X/millennial/Gen Z) that have any interest in playing the guitar, thereby absorbing all those instruments.
- and most of those that do have the interest do not have the disposable income to keep prices up.
Ergo - prices will fall across the board .
MIM Strats to actual 1959 Les Paul’s.
Anything new I have bought in the past year or so has been small stuff - straps, straplocks, picks. I've lost all GAS for another guitar or amp because of this. It' a good time to accessorize and wait out the current gear price madness. I've posted this before - wish has a bunch of useful stuff (wireless guitar transmitters etc) that actually worked for me at dirt cheap. Downside is the time it takes to arrive but the anticipation helps kill GAS.
Hence the old saying - "Buy used, play for free." The only things I've taken a bath on have been when I bought something new.The ads that get me are the ones that say, 'I paid XXX for it and I need to get my money back out of it.' Well, no, idiot, just because you've got more money in some thing than it's worth is no reason to expect a random buyer to bail you out.
20 years ago you could get 'em for $1200-1500, all day long.What really gets me is the vintage market right now. Not that I can afford vintage guitars anyway, but prices have skyrocketed out of control. Five years ago you could find a 50s Les Paul Jr in beat condition for around $3500. Fast forward to 2022, and you're lucky to find one for less that $10K. WTF?