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Oct 24, 2020 - 10:04:30 AM
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907 posts since 2/21/2011

It sounds like it may be the best, or one of the best, '34s or any Herringbones, remaining? I feel like I've read about it on another site.

I believe it was aground $150k

There was a lot of speculation as to the best way to market it.  It came to light on CL and questions were asked who would want to figure out how to transact that kind of money and/or pay the capital gains, etc.  Shipping it back and forth and insuring it would be costly especially if you agreed to a trial period and had to take it back.  It might be better to consign it to George Gruhn or Carter Vintage although i'm sure the fee would be hefty.

Edited by - 1xsculler on 10/24/2020 10:57:52

Oct 24, 2020 - 10:35:13 AM
Players Union Member

OM45GE

USA

101747 posts since 11/7/2007

Do you know how much the seller wants for it?

I’ve looked at the ad for it several times and collect vintage guitars but my primary interest is parlor size guitars so I’ve never reached out about the price.

34’s bring huge money when they do come on the market. I would not buy a vintage guitar in their price range without playing it and examining it carefully, even if it meant a trip. Ideally, my luthier would check it out as well.

Oct 24, 2020 - 11:09:59 AM

1148 posts since 5/19/2018

Price...spot price for gold today is 1899 per ounce.

1934 Martin D28 weighs 72 ounces. Client says it worth it’s weight in gold, so...$136,800 USD.

By comparison of weight, a compatible year flathead Gibson Mastertone is worth about the same but weighs much much more, so it stands to reason a Pre-WWII All original 5 String Flathead Mastertone is a way better value than a Pre-WWII Martin D-28. Agreed?

Oct 24, 2020 - 12:12:33 PM

bill53

USA

348 posts since 3/26/2004

carter has one a 34 for 400000 and it sold,it might have been norman blakes

Oct 24, 2020 - 12:16:14 PM

rcc56

USA

3194 posts since 2/20/2016

I would not venture an opinion on a high priced instrument without a clearly published price, clear photographs, and a clearly delineated inspection policy.

US law requires sellers to declare capital gains on form 1040, schedule D, and form 8949.  A purchase is not a capital gain.  A sale is.

Edited by - rcc56 on 10/24/2020 12:37:05

Oct 24, 2020 - 1:35:03 PM

13459 posts since 10/30/2008

The seller says he wants to trade for a Loar F5 mandolin. They are currently offered on line from $115,000 to $175,000 in what anyone would call excellent shape.

Oct 24, 2020 - 5:52:09 PM

Fathand

Canada

11666 posts since 2/7/2008

quote:
Originally posted by rcc56

I would not venture an opinion on a high priced instrument without a clearly published price, clear photographs, and a clearly delineated inspection policy.

US law requires sellers to declare capital gains on form 1040, schedule D, and form 8949.  A purchase is not a capital gain.  A sale is.


A sale is only a capital gain if it makes a profit.

Oct 24, 2020 - 8:02:01 PM

rcc56

USA

3194 posts since 2/20/2016

Yes. And if a sale brings less than the original investment, it is a capital loss; which is reported on the same forms.

In either case, a purchaser does not incur any federal tax liability at the time of purchase, and is not required to declare the purchase. However, he should keep a record of the purchase in case he sells the item later, whether the sale yields a profit [which is taxable] or a loss [which is deductible].

In other words, if you buy an instrument, you do not owe any federal tax. If you sell it later and make a profit, you will owe tax on the profit. If you sell it at a loss, you can deduct that loss.

We'll forego any discussion of depreciation and recapture of business property. But professionals should have that discussion with a qualified accountant.

And anyone who sells an instrument [or anything else] in that price range should be aware that all US banks automatically report all large deposits to both the IRS and the Dept. of Homeland Security.  They also report all large cash withdrawals.

Edited by - rcc56 on 10/24/2020 20:15:04

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