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May 12, 2024 - 9:16:08 PM

banjonz

New Zealand

12089 posts since 6/29/2003

Now that Jim has passed, what will happen to his collection of banjos? Will they stay with his family or be sold off over time?

May 13, 2024 - 4:36:20 AM
Players Union Member

Texasbanjo (Moderator)

USA

30349 posts since 8/3/2003

I imagine they'll make that decision after a while. Maybe someone who knows the family will keep us informed.

May 13, 2024 - 5:58:44 AM

8374 posts since 9/21/2007

Don't worry, depending on how his will was written, and who actually owns the banjos, there will be at least 4 months or more to deal with probate court and estate stuff.

From there it is all based on how much debt (if any) his estate has.

So there is still some time before the price bubble on "pre war" Gibsons bursts.

May 13, 2024 - 6:26:56 AM

15447 posts since 6/2/2008

Only guessing, since I don't know how he operated, but wouldn't the banjos held as inventory in his business be sold since that's what he intended to do with them?

As to Jim's personal property, that will be distributed as directed in his will (assuming he had one). If he left a letter of instructions, that will describe his wishes and preferences, but isn't legally binding.

May 13, 2024 - 2:14:13 PM
Players Union Member

Texasbanjo (Moderator)

USA

30349 posts since 8/3/2003

The final decision is up to the family. Wills can be changed after a person dies. Families will either come together or decide to fight about any money or items of value. Hopefully, his family will follow his wishes/will.

May 13, 2024 - 2:58:04 PM
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15154 posts since 1/15/2005

Certainly everything is just speculation unless some one is familiar with JIm's personal business. Until recently, I did not know that Jim was married and do not know whether he has any children. Since I thought he was single, I sure didn't think he had children. I do not know about brothers and sisters, but I guess we will all know in time. I just know that we lost a very nice man and a heck of a banjo player.

May 14, 2024 - 3:27:19 AM

1254 posts since 7/25/2006

Rest assured,, The wheels are turning, Enough said,,

May 14, 2024 - 5:15:16 AM
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275 posts since 4/12/2005

They're all gone already and will never see the open market. The only burst bubble will be that of the previous poster...

May 14, 2024 - 9:02:19 AM
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15758 posts since 10/30/2008

Uh, too soon...

May 14, 2024 - 9:57:01 AM

1254 posts since 7/25/2006

quote:
Originally posted by backinthegame

They're all gone already and will never see the open market. The only burst bubble will be that of the previous poster...


If Your talking about me,  My Bubble has not burst,,,  Can Make one Call and find out.  Have no desire to own another original Flathead..3 was 2 more than needed,,,

May 16, 2024 - 5:09:57 AM

275 posts since 4/12/2005

Hey Bob, no sir, was referring to Mr. Hooks' suggestion that when Jim's collection "breaks the open market", the price of PW Gibsons will plummet... (heck, I'll bet we'll both be able to pick up a good old flathead for a couple of grand apiece while we're saving up for a nice new RK)

May 16, 2024 - 6:48:06 AM
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2839 posts since 1/4/2009

I understand in some ways that foks are already thinking about these banjos, but can we let him get laid to rest and give his family and many friends time to grieve before worrying about what becomes of his worldly processions???? This topic is pretty damn tasteless if you ask me.

May 16, 2024 - 9:59:45 AM
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451 posts since 4/26/2007

quote:
Originally posted by kyleb

I understand in some ways that foks are already thinking about these banjos, but can we let him get laid to rest and give his family and many friends time to grieve before worrying about what becomes of his worldly processions???? This topic is pretty damn tasteless if you ask me.


I predicted this thread would get a response like this, because at first glance it may seem callous, but I don't personally feel it's tasteless to ask. It's a natural response/concern. I also know that there has been an outpouring of sympathy here on the Hangout for Jim's passing as well as tons of praise and fond reminiscing about the man himself and his playing.

The bluegrass banjo community is hopeful Jim's vast collection will find it's way to players and/or collectors that will appreciate and love the banjos as much a Jim himself did. Even if they are willed to stay in the family for the time being.  Jim was fond of saying that he was "just the caretaker for these great instruments and they'll be here long after [he's] gone."

Plus, this is probably the most appropriate place to inquire about such a thing because of the knowledge of the members. Heck, it may be the ONLY place to ask. And if it's true that they've all sold already (surprise!!), then I guess the timing isn't too soon.

May 17, 2024 - 7:17:58 AM

275 posts since 4/12/2005

Hey Kyle, also had the thought that vultures were coming out, but I've given up hope on kindness, taste, and propriety on this form. That said though, for those of us that knew Jim, guaranteed, he would already be making inquiries...

Regarding those instruments being already "sold", I didn't mean literally, only that there is, I'm quite sure, a line of no questions ask buyers that will acquire these instruments in private sales, and the details and arrangements of which will never be known to the public (i.e. don't expect Carter's or Benuzio's to suddenly have 20 PW FHs for sale...).

I know I have left instructions for my family regarding the who, what, and how much questions, and I'm wholly confident Jim did too.

It's also worth considering the fact that Jim was into more than banjos, and some of the other stuff may well make these old banjos seem pretty insignificant.

Regarding the effect on the market, there will be none.
(and as we all know, it's really an imaginary market anyway, entirely supported by delusional elitist banjo snobs who just want to lord their junky old over-rated turd-jos over the poor downtrodden masses of real player/experts ;O)

May 17, 2024 - 7:50:02 AM

Rick L

USA

6 posts since 5/5/2004

Not to mention his 59/60 Les Paul and other vintage Electrics.

May 17, 2024 - 5:44 PM

1254 posts since 7/25/2006

I appreciate your reply, No Harm,, No Foul,,  I knew Jim well enough to call if I needed something. He could do the same with me,, I had a friend with a large collection of High Dollar Insts. pass away, His Family chose me to dispose of the High Dollar Insts.  I had people call before his funeral wanting information I felt was the wrong time,,. I knew the right people with money i could contact.,,Took me 3 weeks to dispose what the family wanted ,,,,I did not accept one penny for my services
Originally posted by backinthegame

Hey Bob, no sir, was referring to Mr. Hooks' suggestion that when Jim's collection "breaks the open market", the price of PW Gibsons will plummet... (heck, I'll bet we'll both be able to pick up a good old flathead for a couple of grand apiece while we're saving up for a nice new RK)


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