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Nov 9, 2018 - 7:36:26 AM
1665 posts since 1/4/2009
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I think this one just took the record for most over priced banjo on the planet. facebook.com/marketplace/item/...34740780/

sure its amazing, dont get me wrong there. But you can get other neat banjos for 245,000 less. Its the same price JD sold banger for. Its got ralphs, earls, jd and sonnys signatures on the resonator. And two of those wont be around to sign anymore, however I've seen more than a few other banjos with those signatures. So why would this be priced almost 3 times tthe price of a real prewar flathead? or the same price as one the the "four kings" actual banjos?

Nov 9, 2018 - 7:47:18 AM

TOMCAT

USA

4879 posts since 11/14/2006

Nice yes! Personally I don't see any banjo being worth that.

Nov 9, 2018 - 8:16:06 AM
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424 posts since 5/31/2004

I think it would be worth more without that writing on the resonator.

Nov 9, 2018 - 8:28:07 AM
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77 posts since 8/14/2018

A quarter million for fancy plating and some autographs? No.

Nov 9, 2018 - 8:28:12 AM
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Players Union Member

Neil Allen

France

489 posts since 6/15/2014

The same reason that other over-priced works of art sell at inflated prices. It will be just another asset in a diversified portfolio, not subject to any kind of tax, as long as the potential buyer is confident that he/she/it can sell it on at some future date to someone else for even more.

It won't be bought by anyone who wants to actually play it, that's for sure.

Nov 9, 2018 - 8:28:30 AM
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81 posts since 4/8/2013

Any banjo that's too expensive to actually play is overpriced. It's a musical instrument and they're meant to be used.

That said, that's a beautiful banjo.

Nov 9, 2018 - 8:36:03 AM
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1077 posts since 8/10/2009

Even if I had all the money in the world, I would not spend $250K on a new banjo.

I could almost buy the prewar Flathead of my choice with that budget.

Nov 9, 2018 - 8:51:14 AM
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Mooooo

USA

4788 posts since 8/20/2016

I guess that this banjo doesn't sound good, or doesn't play very well. My reason for saying this is because: There is only one banjo picker on Earth worth a crap who can afford this banjo. So, if Steve Martin hasn't already bought it, it can't be that good.

Nov 9, 2018 - 9:17:22 AM
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49599 posts since 12/14/2005

If someone is fool enough to pay big money for a banjo, not to play it, but because of its RARITY as a collectable, I can offer them a Squared Eel banjo with drone strings on BOTH sides of the neck, and a dowel stick which I will soak in barbecue sauce from ATLAS BBQ.
Autographed by ME, in my own BLOOD.
And with one of my KIDNEY STONES embedded in the peghead.
Guaranteed to be the ONLY ONE LIKE IT on the whole planet.

Twelve million dollars, but I'll pay shipping.
Six million up front, and the other six upon delivery.

30 day refund, minus a 25% handling fee.

Nov 9, 2018 - 9:20:31 AM
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O.D.

USA

3218 posts since 10/29/2003

I'm not big on bling.
I prefer vintage mojo.

Everett

Nov 9, 2018 - 9:26:57 AM
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Bill Rogers (Moderator)

USA

21391 posts since 6/25/2005

Delusionary.

Nov 9, 2018 - 10:29:25 AM
Players Union Member

Neil Allen

France

489 posts since 6/15/2014

quote:
Originally posted by mike gregory

If someone is fool enough to pay big money for a banjo, not to play it, but because of its RARITY as a collectable, I can offer them a Squared Eel banjo with drone strings on BOTH sides of the neck, and a dowel stick which I will soak in barbecue sauce from ATLAS BBQ.
Autographed by ME, in my own BLOOD.
And with one of my KIDNEY STONES embedded in the peghead.
Guaranteed to be the ONLY ONE LIKE IT on the whole planet.

Twelve million dollars, but I'll pay shipping.
Six million up front, and the other six upon delivery.

30 day refund, minus a 25% handling fee.


I can guarantee you that somebody would buy it if they were confident that they could offload it to someone else at a 20% markup in a couple of years.

Stranger things have fetched high prices at auction.

So take heart and get to work!  wink

Nov 9, 2018 - 10:36:45 AM
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beegee

USA

20900 posts since 7/6/2005

Somewhere in the universe there is self-indulgent, starry-eyed, internet billionaire who has probably seen a video of Ralph Stanley and his friends are telling him he should buy a fancy engraved gold-plated banjo. The stars will align and he'll show up at the door with a titanium briefcase full of cash and bingo! Or not.

As others have said, great-looking banjo and no doubt, high-quality. But the autographs aren't necessarily worth the extra $240,000. I figure this is worth around $10K on the open market. It probably cost more than that to build.  If I had $250K to blow on a banjo, it would be on an all-original, certified collector's item with iron-clad provenance...and then if it had "the " sound and playability. For a showcase queen...never.

Edited by - beegee on 11/09/2018 10:42:03

Nov 9, 2018 - 10:37:59 AM

77 posts since 8/14/2018

The opposite question is: if you could afford it, and wanted it, what would you think is a fair price for it? What's being offered is: one Frank Neat banjo with extra-fancy plating and inlay, with resonator signed by famous banjo players. I suppose if you wanted a playable instrument, you could have a matching resonator made, take the signed resonator off, hang that on the wall, and play it with a plain resonator.

Nov 9, 2018 - 10:45:33 AM
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beegee

USA

20900 posts since 7/6/2005

I am reminded of that old story about a boy sitting on the street corner with a cat. The sign read."Cat for Sale, $20,000." A man who passed that corner several times a week, watched as the boy sat there week after week with the same cat and the same sign.

A few days later, he saw the boy on the street and he asked, him."I guess you sold your cat?" The boy replied, "No...I traded him for 2, $10,000 puppies."

Nov 9, 2018 - 10:47:56 AM
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1429 posts since 12/31/2005

quote:
Originally posted by MacCruiskeen

The opposite question is: if you could afford it, and wanted it, what would you think is a fair price for it? What's being offered is: one Frank Neat banjo with extra-fancy plating and inlay, with resonator signed by famous banjo players. I suppose if you wanted a playable instrument, you could have a matching resonator made, take the signed resonator off, hang that on the wall, and play it with a plain resonator.


Affordability isn't really the issue.  It has no value other than as a Frank Neat banjo, which means very high quality.  It wasn't played by any of these pickers that we know of, at least not professionally.   So if you wanted a very high quality Frank Neat, well adorned banjo, you'd call him and I'm sure he would oblige.  He'd probably make you a whole run of them for that kind of money.  The autographs have no real market value.  I have a number of Earl-autographed items.  One of the great thing about all four of these men is that they were very generous with their fans and would sign items for free for their fans.  

Nov 9, 2018 - 11:13:18 AM
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49599 posts since 12/14/2005

John Hartford autographed one of my cookie-tin banjos, which I then donated to the local Bluegrass organization, to be raffled off.

Each raffle item had its own jar for the tickets, and my banjo, which usually sells for $20, brought in $60.

I considered finding out when John was going to be in the area again, and asking him to autograph my CAR, since I could then sell it for 3 times its actual value.

Never got around to it.

Still don't understand why an autograph, UNLESS it's on the signature line of a CHECK, is worth actual money.

Nov 9, 2018 - 11:40:52 AM
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doryman

USA

634 posts since 11/26/2012

That all being said, I'd sure like to know the story behind that banjo. Who commissioned it? How much did they buy it for? When was it made? How did they get all four of those fella's to sign the resenator in gold, all so pretty-like, like that?  He has another ad, for the exact same banjo, listed for the price of  "free"...that sound like a reasonable price to me. 

Edited by - doryman on 11/09/2018 11:42:45

Nov 9, 2018 - 12:18:10 PM

27 posts since 2/23/2010

Is there a Link to the “Banger” banjo actually selling for $250K? I’m not saying it didn’t, but I just never heard this purported number before.

Nov 9, 2018 - 12:23:28 PM

77 posts since 8/14/2018

quote:
Originally posted by mike gregory



Still don't understand why an autograph, UNLESS it's on the signature line of a CHECK, is worth actual money.


Why is anything worth money? Because someone will pay. But it is true that it is usually not a lot. I have a lot of signed books, mostly by writers I've known and worked with. Most of them are not worth much more than the books would be unsigned. Some are personal inscriptions that I wouldn't sell for any price. For a work of art, it can be a matter of establishing provenance, but for a manufactured item it is an affectation. 

Edit to add: a 'signed' edition of a Philip K. Dick book was once issued with signatures cut off of returned checks.

Edited by - MacCruiskeen on 11/09/2018 12:25:31

Nov 9, 2018 - 5:20 PM
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23 posts since 12/22/2015

UGLY banjo. I've never liked shiny gold hardware on a banjo. I wouldn't pay $2500. for this, let alone $250,000. If someone actually buys this banjo for $250K, I guess it means P.T. Barnum was right.

Nov 9, 2018 - 5:24:03 PM

36 posts since 3/25/2016

London street artist Banksey recently auctioned a painting for some $1.3--1.4 Million ... as the auctioneer hammered the deal closed, the painting began to "drop" out of the frame, which had held the frame since its original sale a decade or so earlier (with the promise that the painting would never be sold).  Surprise!  Banksey had secretly built a shredder into the frame which was activated with the bang of the auctioneer's gavel!  Even crazier is the claim that the value of the painting increased by a couple of million WITH the shredding!

Maybe that banjo explodes if some rich goof buys it and plays "Foggy Mountain Breakdown," eh?

Nov 9, 2018 - 5:58:28 PM
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239 posts since 10/22/2006

IMHO it's a pretty banjo fer sure, but there is nothing there worth more than the total cost of the individual parts. Work of art? Me thinks not.

We'll see if anyone is stupid enough to buy it at that price.

Nov 9, 2018 - 6:05:54 PM

bubbalouie

Canada

11380 posts since 9/27/2007
Online Now

Ha! Ha!   "Signatures" If they were carved in with a jacknife or by pressing real hard with a pen or pencil then it might be worth more!

Nov 9, 2018 - 6:18:33 PM
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beegee

USA

20900 posts since 7/6/2005

quote:
Originally posted by doryman

That all being said, I'd sure like to know the story behind that banjo. Who commissioned it? How much did they buy it for? When was it made? How did they get all four of those fella's to sign the resenator in gold, all so pretty-like, like that?  He has another ad, for the exact same banjo, listed for the price of  "free"...that sound like a reasonable price to me. 


I think it must be Frank's wife's banjo.

Nov 9, 2018 - 7:56:52 PM

11278 posts since 10/30/2008

HEY! One evening several years ago I "designed" an inlay mixture just like that for a future custom banjo dream! Never did anything with it though. Great minds, etc.

I admire the "nerve" of offering it at that price!! Why not try?

Good chuckle for the day.

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