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Paul Gorman |
I am moving from my focus on playing nice banjos to salvaging classicsand developing an objective framework for valuing the vintage market. By training I am a research behavioral scientist. I see a need for a careful longitudinal charting of the value placed upon certain important banjo models over the century or so of their existence. I am not aware that this has been done in any public way.
It is a common belief that such banjos if found at a reasonable price can only go up in value. But what is reasonable at any time? What model in what condition? What is a fair dealer mark-up and what factors affect the market? Questions we all ask.
Shortly after I penned the above the vintage banjo market went into a slide. Very good quality Fairbanks, Vega and Bacon and Day banjos have gone for less than half of what they had been selling for. Conventional wisdom is to buy in a down market and hold. We will see.
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