The vintage gear forum, named in honour of the hundreds of people left vintage samick guitars in an estate....

Moderators: Slowy, Capt. Black

User avatar
BY MakoGat
#729722
(Nervously advises) I have an original 41 year old Ibanez Les Paul, bolt on neck, matching pair super 70s with Peter Green mod, always maintained by luthier. Is it rare, yes. Is it collectable, yes to those who like them or those who like older guitars. Ive read these were of equal quality to Gibson at the time, personally not having touched a mid 70s gibson I cant say.

So .. value? I rarely see these for sale, they go between NZ$500 to NZ$1000. Ive probably spent $500 on it at the luthier. A matching pair of super 70s alone are $300. If of equal quality to Gibson at the time, how much for a real Les Paul thats 41 years old? Yeah, yeah, I know, its got Gibson name on it.

Insured for? This is a good question, so if it gets stolen and I am paid out, all I get is an Epiphone replacement!! No Mr insurance man, I want another 41 year old guitar please? #$&@!

Thoughts, comments, how do you insure such (vintage) items yourselves?
#729723
Your best bet I think would be to find some examples of it on eBay and Reverb, then use these as a value measure. I'd be tempted to keep 5 or 6 handy too in case of requiring a claim to back up your value. Or you may find (as with the likes of AMI) that you can have an agreed value on the item so you know what you're going to get paid out in the event of losing/damaging it.
Insurance don't put any value whatsoever into intangibles like sentiment or rarity unless they have cold hard cash values though.
User avatar
BY GrantB
#729724
You have to be VERY specific about what you're insuring, its value, what the replacement profile looks like. Go in and see them. Give them a proper report on the items. Ask them to file it.

Don't assume anything.

Mid 70's Gibson's compare with other brands of the same period very well. They don't do so well when compared to the original 50's Gibson instruments. Many people collect different things - I don't think the argument around quality and comparable value is a major consideration if you're really geeking out on a particular thing. Just enjoy it!
#729727
Actually don't listen to me, I roll most gear so fast I could be robbed and I'd need to refer to my Photobucket just to remind myself what was currently in my possession...
I just have a chunk on contents that is 'music gear', contents variable..
User avatar
BY MakoGat
#729728
Cheers for the comments, GrantB - I really do enjoy it!!

Ive printed comparisons off Reverb to file and will discuss with insurers. From what Ive just seen to find one as original and in such good condition NZ$1500 + shipping.
#729730
Just agree with the insurers you want a payout, not a replacement.

Funny this thread should come up now, but a workmate has just brought in his USA Strat his insurance company delivered to him when his original was stolen. It's piece of crap, weight as much as a fart, dead and lifeless acoustically, set up as well as a Chinese Squier. He would never have bought the guitar himself, as he'd have played it first, but his insurance company had a replacement policy and he didn't question it at the time.
#729741
MakoGat wrote:(Nervously advises) I have an original 41 year old Ibanez Les Paul, bolt on neck, matching pair super 70s with Peter Green mod, always maintained by luthier. Is it rare, yes. Is it collectable, yes to those who like them or those who like older guitars. Ive read these were of equal quality to Gibson at the time, personally not having touched a mid 70s gibson I cant say.

So .. value? I rarely see these for sale, they go between NZ$500 to NZ$1000. Ive probably spent $500 on it at the luthier. A matching pair of super 70s alone are $300. If of equal quality to Gibson at the time, how much for a real Les Paul thats 41 years old? Yeah, yeah, I know, its got Gibson name on it.

Insured for? This is a good question, so if it gets stolen and I am paid out, all I get is an Epiphone replacement!! No Mr insurance man, I want another 41 year old guitar please? #$&@!

Thoughts, comments, how do you insure such (vintage) items yourselves?


The valuation depends on your policy - whether it be replacement or indemnity (market value)

Indemnity (market) value for this guitar (assuming it is in good condition and unmodified) I would estimate at somewhere around the NZ$700-$999 mark. The quality of these guitars is indeed great, however the fact it is the bolt-on version will likely keep it pegged below the $1000 mark.

If you had a replacement policy and I was working with the insurer on this one (as I used to do), i would never quote an Epiphone as an equivalent replacement. It is simply not a fair comparison to a Japanese made guitar. If Edwards guitars were available in NZ, i would put that forward as an ideal strategy, however as they are not I would be more inclined to quote one of the lower priced Gibson models - such as a Les Paul Studio 50's tribute.

But yeah.....it really depends on what sort of policy you hold.
#729742
MakoGat wrote:From what Ive just seen to find one as original and in such good condition NZ$1500 + shipping.


Without doing deeper research, that seems a little optimistic from the seller for a bolt-on. That value seems around the right area for a set-neck though.
User avatar
BY MakoGat
#729752
Ive found for sale equivalent year, model and condition $1500 and $1200, the $1200 one has bad corrosion on bridge and tail piece, belt buckle rash, non standard tuners with original screw holes showing (YUK). These prices are also ex overseas / excluding shipping. Mine is 100% original even has "Super 70s" sticker on back of headstock.

Will get hold of insurance tonight.

Null_pointer - you say you have "a chunk on contents that is 'music gear'" - so if you have other gear of your own, but also buy, fix, sell gear - how do you put a figure on that?