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The Boer Hog..a well known 1937 RB3 flathead recently sold.
Not any discussion here..odd given its pedigree....and the fact that it was priced at $67,000 which is almost half the price an original RB 3 flathead would have sold for a few years ago.
It did change hands a bunch of times...but what a banjo.
facebook.com/groups/1228117010...65711045/
$67,000 is certainly an excellent buy for an original RB-3 I would think!
WOW!!!!
I'm not sure this can be taken as a measure of the market, I'm somewhat familiar with the sale and the seller was looking to get that specific price quickly for another purchase, so it was never shopped around for full value. and it sold almost immediately.If it would have been brought to market like a normal sale it would have got a lot more money.
Edited by - kyleb on 01/30/2023 09:44:59
Condition from Ernest Banjo: The neck and resonator of the banjo have been refinished since its return to America. The only other major issue is that several of the holes in the tone ring have been drilled out; evidently that familiar phenomenon is not limited to the the U.S.A. A set of Christmas tree lights was installed in the pot (possibly at the factory) and consequently a small hole was drilled through the rim for the electric cord.
It sat on the BHO listings for quite a while. The asking price at that time was $79,999. There is no record of the final selling price based on that ad, but the ad expired and was not marked as 'sold'.
With the drilled-out holes in the tone ring and the drilled hole in the rim, it ought to be called the "Bored Hog".
quote:
Originally posted by kylebI'm not sure this can be taken as a measure of the market, I'm somewhat familiar with the sale and the seller was looking to get that specific price quickly for another purchase, so it was never shopped around for full value. and it sold almost immediately.If it would have been brought to market like a normal sale it would have got a lot more money.
This captures the conventional wisdom or consensus opinion, but I believe if the seller could have easily got a lot more for it then he would have put it on the market for a lot more. Or at least a little more. If it sold so quickly at $67,000 might not it have sold quickly at $70,000? What about $75,000? Or the previous asking price of $79,999?
And how long ago was that $79,999 listing? If that was a few years ago and the banjo sold for less than asking then, how can anyone today say the current $67,000 selling price is half what the banjo would have sold for a few years ago? Clearly it's not.
I'm not criticizing the selling price at all. I accept these things are worth a lot -- to buyers who can afford them. But maybe some of them aren't worth what the non-buying community thinks.
quote:
Originally posted by Old Hickoryquote:
Originally posted by kylebI'm not sure this can be taken as a measure of the market, I'm somewhat familiar with the sale and the seller was looking to get that specific price quickly for another purchase, so it was never shopped around for full value. and it sold almost immediately.If it would have been brought to market like a normal sale it would have got a lot more money.
This captures the conventional wisdom or consensus opinion, but I believe if the seller could have easily got a lot more for it then he would have put it on the market for a lot more. Or at least a little more. If it sold so quickly at $67,000 might not it have sold quickly at $70,000? What about $75,000? Or the previous asking price of $79,999?
And how long ago was that $79,999 listing? If that was a few years ago and the banjo sold for less than asking then, how can anyone today say the current $67,000 selling price is half what the banjo would have sold for a few years ago? Clearly it's not.
I'm not criticizing the selling price at all. I accept these things are worth a lot -- to buyers who can afford them. But maybe some of them aren't worth what the non-buying community thinks.
Excellent point Ken
quote:
Originally posted by Old Hickoryquote:
Originally posted by kylebI'm not sure this can be taken as a measure of the market, I'm somewhat familiar with the sale and the seller was looking to get that specific price quickly for another purchase, so it was never shopped around for full value. and it sold almost immediately.If it would have been brought to market like a normal sale it would have got a lot more money.
This captures the conventional wisdom or consensus opinion, but I believe if the seller could have easily got a lot more for it then he would have put it on the market for a lot more. Or at least a little more. If it sold so quickly at $67,000 might not it have sold quickly at $70,000? What about $75,000? Or the previous asking price of $79,999?
And how long ago was that $79,999 listing? If that was a few years ago and the banjo sold for less than asking then, how can anyone today say the current $67,000 selling price is half what the banjo would have sold for a few years ago? Clearly it's not.
I'm not criticizing the selling price at all. I accept these things are worth a lot -- to buyers who can afford them. But maybe some of them aren't worth what the non-buying community thinks.
I was making a generalization of the prices of original 5 string flatheads that were selling at the $100K and above mark a number of years ago. I guess $67K is what the value of this instrument was at the time of sale.
If I remember right the asking price of this particular banjo was over a 100,000 jus a couple years ago ?
quote:
Originally posted by Will FradyIf I remember right the asking price of this particular banjo was over a 100,000 jus a couple years ago ?
Yeah, things are changing. Seems the newer generations are becoming less and less interested in these great old instruments plus they simply don't have the money.
Edited by - banjoez on 02/01/2023 14:35:57
quote:
Originally posted by banjoezquote:
Originally posted by Will FradyIf I remember right the asking price of this particular banjo was over a 100,000 jus a couple years ago ?
Yeah, things are changing. Seems the newer generations are becoming less and less interested in these great old instruments plus they simply don't have the money.
Or would rather own a newer banjo and a Tesla.
quote:
Originally posted by NotABanjoYodaquote:
Originally posted by banjoezquote:
Originally posted by Will FradyIf I remember right the asking price of this particular banjo was over a 100,000 jus a couple years ago ?
Yeah, things are changing. Seems the newer generations are becoming less and less interested in these great old instruments plus they simply don't have the money.
Or would rather own a newer banjo and a Tesla.
You're right. Younger folks seem more interested in spending money on technology, adventure and life experiences rather than accumulating "things". Us old geezers were more into collecting stuff that had sentimental or other intrinsic value. Not sure who comes out better in the end.
quote:
Originally posted by banjoezquote:
Originally posted by NotABanjoYodaquote:
Originally posted by banjoezquote:
Originally posted by Will FradyIf I remember right the asking price of this particular banjo was over a 100,000 jus a couple years ago ?
Yeah, things are changing. Seems the newer generations are becoming less and less interested in these great old instruments plus they simply don't have the money.
Or would rather own a newer banjo and a Tesla.
You're right. Younger folks seem more interested in spending money on technology, adventure and life experiences rather than accumulating "things". Us old geezers were more into collecting stuff that had sentimental or other intrinsic value. Not sure who comes out better in the end.
Saves them the headache of downsizing and their children from the stress of having to throw away a house full of stuff after making funeral arrangements. Even geezers are now into spending oodles of precious time liquidating nowadays as they see the light.
My parents' house cost $67K in the mid-1980s.
Edited by - earlstanleycrowe on 02/02/2023 04:46:26
quote:
Originally posted by earlstanleycroweMy parents' house cost $67K in the mid-1980s.
That would have been a very nice house ....... anywhere but California!
On very important thing to consider is that the seller was really motivated to sell and the banjo was totally re finished. This takes a great deal of value away from the banjo. This is just one sale at a point in time from someone who was willing to let it go to raise cash for another banjo. A few years ago I was offered an original RB 12 for under 50K in great original condition again it was a specific moment in the sellers like that motivated a low selling price. This is almost like having a lucky day at an auction.
Joe
quote:
Originally posted by RB3WREATHOn very important thing to consider is that the seller was really motivated to sell and the banjo was totally re finished. This takes a great deal of value away from the banjo. This is just one sale at a point in time from someone who was willing to let it go to raise cash for another banjo. A few years ago I was offered an original RB 12 for under 50K in great original condition again it was a specific moment in the sellers like that motivated a low selling price. This is almost like having a lucky day at an auction.
Joe
Did you buy the 12, Joe?
Joe, I'm not really sure how much the refin effects banjos... that seems to be a more personal issue than with guitars; also, doesn't make worlds of difference within the Loar circles like one would think either. I do agree that a non-Gibson "restoration" refin hurts more that if Gibson would have done so under warranty work. In my opinion, the tone ring modification is the real issue of concern.
quote:
Originally posted by RB3WREATHOn very important thing to consider is that the seller was really motivated to sell and the banjo was totally re finished. This takes a great deal of value away from the banjo. This is just one sale at a point in time from someone who was willing to let it go to raise cash for another banjo. A few years ago I was offered an original RB 12 for under 50K in great original condition again it was a specific moment in the sellers like that motivated a low selling price. This is almost like having a lucky day at an auction.
Joe
Good points Joe..I didnt know it had been refinished. Was this the one that had been painted white? Still a great banjo. I was with GRich at Curtis McPs a number of years back with another banjo great. Curtis brought out an all original flathead RB3 (or ? 75) that had been refinished therefore a price that reflected that. It was purchased on the spot!
quote:
Originally posted by backinthegameJoe, I'm not really sure how much the refin effects banjos... that seems to be a more personal issue than with guitars; also, doesn't make worlds of difference within the Loar circles like one would think either. I do agree that a non-Gibson "restoration" refin hurts more that if Gibson would have done so under warranty work. In my opinion, the tone ring modification is the real issue of concern.
The refin does affect the value significantly. Maybe not quite as much as guitars, which can (or used to be) about 50%. I think it also affect Loars about the same as guitars. I guess it is difficult to tell with the Loars now since their value has dropped significantly in the past few years. Of course, a lot of guitars and mandolins did not receive total refins, but over spray which does not affect the price nearly as much.
quote:
Originally posted by RB3With the drilled-out holes in the tone ring and the drilled hole in the rim, it ought to be called the "Bored Hog".
I read everything here to find the South Afrikaan connection! That's a beauty for sure but shouldn't it be Boar?
Look at Bubba! Doing spelling correction! LOL!
quote:
Originally posted by bubbalouiequote:
Originally posted by RB3With the drilled-out holes in the tone ring and the drilled hole in the rim, it ought to be called the "Bored Hog".
I read everything here to find the South Afrikaan connection! That's a beauty for sure but shouldn't it be Boar?
Look at Bubba! Doing spelling correction! LOL!
Nope ..... Boer is correct!
HAHA! I stand corrected for my correction! Sorry! Back to off topic!
quote:
Originally posted by Ira GitlinNo low on cashquote:
Originally posted by RB3WREATHOn very important thing to consider is that the seller was really motivated to sell and the banjo was totally re finished. This takes a great deal of value away from the banjo. This is just one sale at a point in time from someone who was willing to let it go to raise cash for another banjo. A few years ago I was offered an original RB 12 for under 50K in great original condition again it was a specific moment in the sellers like that motivated a low selling price. This is almost like having a lucky day at an auction.
JoeDid you buy the 12, Joe?
FWIW Crowes famous 20 hole he cut almost everything with had been messed with. The holes in the ring were drilled
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