Escalating Prices

[Rayman]

I’m wondering if the current crazy upwardly directional prices of bass guitars is disproportionate to the increase of the cost of living and manufacturing?

 

 I mean, not that long ago you could pick up a Stingray for 6/700 quid? And an MIT Yamaha BB1100 for example, might have been 3/400 tops…. Now you can double those prices. I’ve had a bunch of BBs, inc a couple of 1100s…. they’re alright? Decent like? But a grand for a Made in Taiwan model? Nah mate.

 

So why are basses commanding such high premiums now? The used market, especially on here, used to be full of bargains! Now, you need a couple of grand in your back pocket while searching the ads?

[gjones]

I'm assuming the secondhand prices shadow the increase in the RRP of basses in the shops. For example, new prices, for Ernie Ball Musicmans, have gone through the roof.

[White Cloud]

Ah, Brexit...the gift that just keeps on taking. 

[OliverBlackman]

Same reasons s/h car values have increased. FWIW I sold my near mint MM SR for £500 on here only 15 or so years ago which was about the going rate at the time.

[Paolo85]

I don't know anything about prices 15 years ago but I find this very interesting. Especially as at the same time a lot of people are saying cheap basses were never so good and a lot of people question the returns of buying anything more than £500-800 new.

I wonder if there is a relationship between the two issues. Marketing can be funny and people are funny. Maybe, and I am speculating here, they figured out that Stingrays and high-end Yamahas are just better business if marketed at a high price as an object of desire. If they were sold for less it would send the message that they are 20% better than a Sire, instead of something you dream of. Both brands cover the lower end of the market anyway with great basses such as the Sterling Ray 4 or the Yamaha BB424

[Rayman]

The price of brand new gear….. I suppose I can kind of get it….. I mean Gibson have been overcharging average instruments for years.

 

But it’s the second hand market that puzzles me….. people are asking hundreds of pounds for makes and models we considered to be be budget imitations back in the day, you know the stuff, made in Japan in the 70’s and 80’s…. the guitars we thought were crap back then, all of a sudden are desirable.

 

 I saw a Yamaha BB400 with an asking price of £500? I mean I had two…. I paid a hundred quid each for them not that long ago. I just don’t get why these kind of basses are increasing in value at such a rate. They just aren’t worth that much.

[Owen]

3 minutes ago, Rayman said:

 the guitars we thought were crap back then, all of a sudden are desirable.

I hear you and I agree. We are old. 

[neepheid]

For reference, the price of a new G&L CLF L-1000 has gone up 58% in 18 months.  Same retailer used for before/now comparison.

Edited March 26, 2023 by neepheid

[neepheid]

Gibson Grabbers/G-3s/Rippers have become fashionable recently?  Prices have gone insane.  Has some famous person I've never heard of been seen playing them on that TikTok thing?

[Count Bassy]

2 hours ago, White Cloud said:

Ah, Brexit...the gift that just keeps on taking. 

FFS.

[AndyTravis]

7 minutes ago, neepheid said:

Gibson Grabbers/G-3s/Rippers have become fashionable recently?  Prices have gone insane.  Has some famous person I've never heard of been seen playing them on that TikTok thing?

Yeah, £1200-£1500 rippers are long gone now…🥲

[Bunion]

5 minutes ago, AndyTravis said:

Yeah, £1200-£1500 rippers are long gone now…🥲

That’s good, I’m about to list mine 🤣😂

[AndyTravis]

15 minutes ago, Bunion said:

That’s good, I’m about to list mine 🤣😂

Wait until I’m not skint 🤣

[Bolo]

These price hikes have been in the making for years now. The damage to global goods markets done by Trump and Covid can't be overstated. And as UK steps away from Europe, Russia steps forward with their land grab in the Ukraine.

 

So many factors to consider all putting in their bit, like dominos.

[LukeFRC]

I think there’s a few things …

• Retail prices started creeping up above inflation rates a few years back, it was almost inevitable that the secondhand market would mirror it.
• Gibson and Fender have both been in financial doldrums at some point over the last few years - obvious solution would be to raise their price
• theres a bunch of people who earn well and came out the pandemic with lots of money saved. They spent it on high end things like vintage fenders - pushing the price up
• Reguardless of the politics of Brexit vote it lead to a weaker pound and higher cost of food
• post covid rise in shipping costs, chinas covid strategy and global shortages all push prices up 
• inflation globally, and with the added Brexit bonus in thr uk
• covid meant there were suddenly lots of pro and semi pro musicians who couldn’t work - at least some of them started flipping instruments for profit 
• reverb gives an alternative marketplace for secondhand stuff with clear price history - unlike eBay the risk of an auction showing true value isn’t there. The days of I found it in grans loft and don’t know what it is are over
• facebook marketplace is the simple way to sell stuff too
• community forums like here used to have people with lots of money sell things off at great prices - those people have less money. but also theres a few people who buy on here cheap and sell on for profit in a shop or on reverb… people stop doing cheap prices

Edited March 27, 2023 by LukeFRC

[Ralf1e]

8 hours ago, Rayman said:

The price of brand new gear….. I suppose I can kind of get it….. I mean Gibson have been overcharging average instruments for years.

 

But it’s the second hand market that puzzles me….. people are asking hundreds of pounds for makes and models we considered to be be budget imitations back in the day, you know the stuff, made in Japan in the 70’s and 80’s…. the guitars we thought were crap back then, all of a sudden are desirable.

 

 I saw a Yamaha BB400 with an asking price of £500? I mean I had two…. I paid a hundred quid each for them not that long ago. I just don’t get why these kind of basses are increasing in value at such a rate. They just aren’t worth that much.

I don't think it has to do with the value of the basses. It is the value of the currency that has gone down by that much.

Example my shocked wife glanced at a shelf in Tesco's the other day and exclaimed £1.70 for a tin of soup. Then the air turned briefly blue.

 In November Standard life were good enough to let me know that around last Feb March time last year the value of my private pension had gone down by just over £5,300 in a matter of about a month. Bless them why didn't they tell me at the time 🤣

[Burns-bass]

8 hours ago, AndyTravis said:

Yeah, £1200-£1500 rippers are long gone now…🥲

I remember passing on one for £150, that was 2002!

[Rayman]

34 minutes ago, Ralf1e said:

I don't think it has to do with the value of the basses. It is the value of the currency that has gone down by that much.

Example my shocked wife glanced at a shelf in Tesco's the other day and exclaimed £1.70 for a tin of soup. Then the air turned briefly blue.

 In November Standard life were good enough to let me know that around last Feb March time last year the value of my private pension had gone down by just over £5,300 in a matter of about a month. Bless them why didn't they tell me at the time 🤣

100% agree….. food, utilities, fuel…. It’s all gone crazy, PLUS the fall of the pound. Guitars are luxury items, that many of us can’t really afford if we’re honest… but it’s just the prices of the used market that confuse me. I don’t get why a bass that was £300 a handful of years ago, is now £700…. is that just the devaluation of the pound…. or are people getting optimistic with their valuations? Or both?

[Ralf1e]

25 minutes ago, Rayman said:

100% agree….. food, utilities, fuel…. It’s all gone crazy, PLUS the fall of the pound. Guitars are luxury items, that many of us can’t really afford if we’re honest… but it’s just the prices of the used market that confuse me. I don’t get why a bass that was £300 a handful of years ago, is now £700…. is that just the devaluation of the pound…. or are people getting optimistic with their valuations? Or both?

A bit of both. They still want what they hoped for as an increased investment. Inflation has eaten the increase. Sad realy.

[White Cloud]

9 hours ago, Count Bassy said:

FFS.

Well, an authentic question was posted hence an authentic answer was forthcoming. 

[naxos10]

1 hour ago, Ralf1e said:

I don't think it has to do with the value of the basses. It is the value of the currency that has gone down by that much.

Example my shocked wife glanced at a shelf in Tesco's the other day and exclaimed £1.70 for a tin of soup. Then the air turned briefly blue.

 In November Standard life were good enough to let me know that around last Feb March time last year the value of my private pension had gone down by just over £5,300 in a matter of about a month. Bless them why didn't they tell me at the time 🤣

I made a similar comment to my wife about the price of Heinz soup then went into the next isle and did the same when I saw the price of their tomato ketchup. Fortunately I am happy eating supermarket own brands which were half the price and we are talking Waitrose here.

Is it just the major brands which are imposing such high price hikes (value brands do not to seem to have gone up quite so much)?

[Chienmortbb]

2 minutes ago, naxos10 said:

Is it just the major brands which are imposing such high price hikes (value brands do not to seem to have gone up quite so much)?

I think the Value Brands have increased more in percentage terms. If you go down to Value form Branded, the cost is lower but if the value is 50% higher than a year ago, thosethat have always bought Value will see a massive rise. It is why they often say that inflation hits the poorest hardest.

[naxos10]

Good point Chienmortbb, and I bet doubling the price of a can of soup more than doubles the profit made.

[Doctor J]

There are a lot of people chancing their arm with asking prices on second hand gear, which leads to people thinking the stuff is worth more than it actually is and asking prices go up, as a whole, as a result. Reverb is a haven for silly asking prices.

 

I've seen several bass I sold off around five years ago listed, by the people I sold them to, for over double what they paid. It seems to be the norm, now. Just shameless profiteering, nothing more.

 

[Waddo Soqable]

As regards pretty well all ordinary commodities.. much of this is obviously artificially created, the whole expectation has first been set up.. then we'll raise prices because we can... 

Edited March 27, 2023 by Waddo Soqable