jcledford1962@gmail.com
I have grand concert #230 that I am thinking of selling. It is near mint shape. It comes with the original case and has a mic pickup installed. When should I sell it and for how much? I took it to a Bluegrass jam the other night and it held its own with a Gibson Mastertone. It also sounds great as claw hammer banjo. I have a Christy long-neck banjo that I am fond of playing and I rarely use the Reiter. I am told that they are as rare as hen's teeth and are hard to come by. I can no longer play 3 finger style due arthritis in my 2nd finger, not that I was that good at anyway. I play claw or 2 finger style now. I sort of bought for an investment and I needed a banjo that I could play in church without using microphones if need be. I have used it maybe once or twice every year, but that was it. I sort of bought for an investment as well. I am not sure how much to sell it for. Any suggestions for me? Thank you in advance. Jeff Ledford
John Balch knows his Reiter banjos. He offers solid advice in his comments about the market. His $2500 ballpark figure seems about right. Of course, a lot depends on how patient you are in finding a buyer. I have two Rieter banjos, a tubaphone and a Regent Whyte Laydie, that serve me quite well. I am a big fan of Bart's banjos and I am pretty well-stocked right now.
David
My instinct, too, is $2,500 as a desirable price. The market’s dicier than it was even a year ago, so there’s no telling. One possible irony: if inflation persists, as seems likely, the value of your banjo (and others in that price range) will likely go down, because people will be spending more money on necessities, and thus have less for items like banjos.
When to sell? Not right now, that's for sure. Used banjo prices, particularly Vega-style and other open back banjos, are nearly rock bottom. If you list it for over $2000 it will not sell and you probably won't get a single bite. $1500 is a more likely selling price in the current market.
The price a banjo sold for 2-3 years ago is irrelevant to the current market value. Investors take losses every day. Don't ask me how I know...
I no longer play live but my Reiter is an heirloom instrument that will be passed on to my children.
One of the reverb links shared was my listing from a while back. I ended up trading it but am buying it back tonight because I miss it.
Sounds aside, the grand concert is among the most visually appointed in the Reiter catalog and is a consideration for price. They're rare enough to maintain and climb in value over time.
Edited by - Winecaster on 02/25/2025 15:18:35
The other thing you could consider is consigning with Elderly, i've done it a couple times and been very pleased with their execution. You can email and get detailed info.
I consigned my Reiter befoer the pandemic with Dusty Strings, a local shop and they did a really good job on the sale but i still have seller's remorse to this day. What a wonderful instrument that was.
Edited by - gtani7 on 02/28/2025 12:04:35
