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Post subject: A Question of Value
Posted: Sun Apr 25, 2010 6:12 am
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I've also posted this in the Precision Bass forum.

I've always seen any instrument as merely a sum of its parts; good, bad or indifferent and have always considered each and every instrument old or new on its own merits. Meaning, just because it is say, 30 year old, it does not necessarily follow to me that it is better than its same model of 40 days old. As a result, I have never delved into nor have been much good at figuring out some sort of value to older instruments. Frankly, I think some of the pricing for the older stuff is preposterous due to the above reasoning but that's another subject for another post.

Now to me, regardless of what the, "Blue Book" and other similar sources say a given piece is worth, I've never relied on them as whatever these sources decree surely isn't what the 'Average Joe' (or 'Jane' as the case may be) is willing to pay or currently is paying for such pieces. Rather, I've always looked to places like e-Bay, Craigslist, G-Base and such for more of an accurate handle. I should note that it is usually far and between that I really need to know the value of a classic instrument (meaning, 25+ years old).

What all this is leading up to is this: I just acquired a very near mint condition, Fender 1978 Precision Bass (Rosewood board, natural Ash body). Yes, it is as heavy as a Les Paul. On the 'up' side, it set up and plays like a champ! A few things aren't original where the OEM stuff is not included. These are, (aside from the strings) the pickguard which is a Fender Tortoise 62 RI model, the electronics which are all EMG, straplocks instead of the OEM strap buttons and the hardshell case is one of those tan Fender faux-leather jobs. It does have the OEM pickup cover plate and the bridge cover. And just for your exasperation, my camera is on the blink and I can't post pictures. I've tried getting a handle on the 'street value' but I've seen diverse pricing all over the place on this one. Can anyone who has experience in this area give me some sort of figure as to what a realistic selling price for this bass would be? TIA.

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Posted: Sun Apr 25, 2010 7:12 am
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On "Google Books" there is a book titled "The Official Vintage Guitar Magazine Price Guide By Alan Greenwood, Gil Hembree"

You may be able to find others that will give more detailed info.

Ash body P-Bass eh... 8)

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Posted: Sun Apr 25, 2010 7:13 am
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I thank you and yes, I do apply the same measure of relative values to virtually everything.

Those references which you directed me to I did see. I also saw ones for $1,600, $1,800 and $2,200 which, being so diverse is what prompted my query.

See, I know if I wander into a 'high end' musical equipment store, they'll not commit themselves to a figure unless I choose to sell it to them in which case, THEN they are committed to it being absolutely, positively only worth $300. Of course, the next day they'll have an extra zero on the right of it as their selling price and when you challenge them, they get selective hearing and/or forget the English language as a means of communication. So they are no help either.

I do thank you for your insight though, I truly appreciate it.


BigJay wrote:
Hi Martian. I appreciate your sense of worth regarding vintage instruments. I expect that you apply that same measure of relative value to all things, cars, homes, jewelry, etc. I would suggest that there is more to the value of antiquity than its modern day equivalent and its usability. Rarity and novelty increase value very much in many cases. This might be the case for your new '78 Precision Bass, which I know basically nothing about. But it didnt take me long to find some references on the internet for that very bass, including some values.

This sale from one year ago seems like its exactly the same bass as yours. If this sale is indicative, your bass may be worth $1200-$1400, more?

http://www.talkbass.com/forum/showthread.php?t=535564

And another, less similar sale from 2008 in the UK...

http://www.eugenehechavarria.com/?p=266 Seems to be the same value

Hope this helps at all. 8)

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Posted: Sun Apr 25, 2010 7:15 am
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Miami Mike wrote:
On "Google Books" there is a book titled "The Official Vintage Guitar Magazine Price Guide By Alan Greenwood, Gil Hembree"

You may be able to find others that will give more detailed info.

Ash body P-Bass eh... 8)


I thank you for the reference(s).

Yep, Ash and like I said, as heavy or even heavier than some Les Pauls!

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Posted: Sun Apr 25, 2010 8:21 am
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Guitars are listed in a "Blue Book" just as autos or guns.

https://store.bluebookinc.com/Guitars/Default.aspx

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Posted: Sun Apr 25, 2010 10:02 am
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VT BlackStrat wrote:
Guitars are listed in a "Blue Book" just as autos or guns.

https://store.bluebookinc.com/Guitars/Default.aspx


I do thank you but I'm looking for alternate sources other than this.

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Posted: Sun Apr 25, 2010 10:07 am
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Hi Martian,According to The Vintage Guitar Price Guide a 78 P-Bass natural is worth between $1,375-1.775.I guess since yours has non-original parts on it it would probably be on the lower side of the estimate or half-way if everything is in real good nick.
(edit)You could pick up a copy of Vintage Guitar mag and look in the personal classifieds in the back and see what the average man on the street is selling them for,also there's a lot of dealer listings that you could possibly get an idea from.

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Last edited by guitslinger on Sun Apr 25, 2010 10:36 am, edited 1 time in total.

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Posted: Sun Apr 25, 2010 10:08 am
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Martian wrote:
VT BlackStrat wrote:
Guitars are listed in a "Blue Book" just as autos or guns.

https://store.bluebookinc.com/Guitars/Default.aspx


I do thank you but I'm looking for alternate sources other than this.


Yeah... you did say that in your first post, didn't you? :oops: I should have read it and paid more attention.

:lol:

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Posted: Sun Apr 25, 2010 10:18 am
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VT BlackStrat wrote:
Martian wrote:
VT BlackStrat wrote:
Guitars are listed in a "Blue Book" just as autos or guns.

https://store.bluebookinc.com/Guitars/Default.aspx


I do thank you but I'm looking for alternate sources other than this.


Yeah... you did say that in your first post, didn't you? :oops: I should have read it and paid more attention.

:lol:


I'm grateful that you took the time to respond though!

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Posted: Sun Apr 25, 2010 10:34 am
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guitslinger wrote:
Hi Martian,According to The Vintage Guitar Price Guide a 78 P-Bass natural is worth between $1,375-1.775.I guess since yours has non-original parts on it it would probably be on the lower side of the estimate or half-way if everything is in real good nick.


I thank you for your investigation.

Apparently, the lower teens is probably as pinpointed as I can expect.

Even if I replaced all the mods with OEM components of the same year, the value of that stuff would apparently be somewhat dollar for dollar, the increase of the overall value of the bass. Consequently, if my aim is just to flip it, there's no practical point in restoring it as my net would remain the same.

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Posted: Sun Apr 25, 2010 7:32 pm
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Martian kind of weird but maybe that is a popular year as there is about 8 listings for 78 P basses on ebay. With everything original they seem to go in the $2,300 range otherwise in the mid teens. As far as the books I did not even look because I find them to undercut prices and serve to benefit dealers and stores.


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Posted: Sun Apr 25, 2010 8:29 pm
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You could locally pick one up in the Mom & Pop shops for 1200. to 1400. that most would consider a 90% condition you get near 1800. to 1900. that thing better be stock near mint condition.
There are ding bats selling for ridiculous prices on Ebay and Craigs list hoping for the sky. And some of your price books failed to take the current economy into account before printing. Market for people selling to get money have brought guitars down big time.

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Posted: Mon Apr 26, 2010 5:10 am
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s'cat and cv, see what I mean? Prices are all over the place on this one with IMO, some of those being mere pipe dreams at around $2K and over. Indeed, the condition of my specimen is there all there though. As you would expect, I surely don't want to rip anyone off but by the same token, I don't want to rip myself off either. The plot thickens. :?

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Posted: Mon Apr 26, 2010 5:38 am
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Hi Martian: for what it's worth (quite little, I expect) here are some '78 P-Bass sales on my side of the pond. RIs at the top of the page, real thing further down:

http://www.vintageandrareguitars.com/we ... ric-Basses

That's a price spread of £1250-2595 / $1931-4010 for instruments that appear to have more original parts than yours. Those ones are black. The "virtually mint" natural finish ash Precision is POA - how annoying! I wonder how much...?

Good luck - C


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