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Old 18th August 2019
Lives for gear

Originally Posted by kennybro View Post
Yeah, value of stuff has always amused and interested me. Why did that Basquiat painting sell for $100 million? Why would anyone pay $3k for a Wassily chair repop (choose your color!)? Or $3.2M for a '62 Corvette?

It's always wealthy collectors who drive up prices, but wealthy collectors have to be motivated to act. With Les Pauls, it's the iconic music that Page, Clapton and others made with them in the 60's. Somehow, people got the idea that those guitars were partially responsible for the music, so players started buying every example they could find. Enter collectors... especially Asian dealers of a certain era with unlimited funds. Not responsible for the guitars being desired initially; but totally responsible for $300k+ values.

I remember a guy who would come to the big guitar shows with suitcases full of cash. He had cases stacked up 5 feet high by the second day. I sold him a 60's single pickup plywood, bluegreen Silvertone piece of crap with a warped neck for $1800, no case. It was unplayable. He set the price. I would have accepted 100 bucks. So everyone in the game is partially to blame.

At a certain point, only artists can no longer afford their own art... or in this case, the tools used to create it. Art slipping from being a social phenomenon, into the capitalist realm. Art no longer involves aesthetics; it becomes money.
I used to buy stuff at a music store in lower Manhattan. I think it was called Dr. Sound. They had an entire wall of old Strats hanging there that nobody could buy because some Japanese gentleman had bought them all and left them "stored", hanging there for years. Stupid.