Asking price, current vale/market interest and restorations issues aside, no has commented on the aesthetics, so I will: It is laughably hideous looking. I'd pay $50 for it in a yard sale, just for the humor value.

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Originally posted by nematode!

Asking price, current vale/market interest and restorations issues aside, no has commented on the aesthetics, so I will: It is laughably hideous looking. I'd pay $50 for it in a yard sale, just for the humor value.

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Your missing the significance of this banjo.  It proves that reincarnation is real and that, in a prior life, Greg Rich designed banjos (jk)

I agree with nematode. The first thought that comes to mind is "gaudy".

As has been mentioned, being a player, there is a point that cost overrides the usability and enjoyment factor. I can see investing in one's retirement or paying down a mortgage. I'm speaking of course from a middle class income.
If someone has $250 k lying around without it being pegged for a particular need, then more power to them. I am quite happy with my old 75 that cost a whole lot less and has given me the primary sense of satisfaction.... Tone !

I remember seeing/playing one of these at Pioneer Music in the 90’s but it was a g rich copy.
Excellent banjo but way over the top.

Gorgeous, distinctive, a piece of history. I hope someone gets it and makes full use of it in many ways. America + banjo = can't get any better than that.
ken

I think if I was paying this much money I'd go for the Wade Mainer Grenada. It was for sale for this amount awhile back. Steve Huber sourced original era metal for the banjo (which Gibson had swapped out) and put it together well. I've played it when he had first assembled it. Really nice!

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Originally posted by steve davis

Values change over time.
Chippendale furniture lost a lot of value around 2010.
I asked Jimmy Cox about investing in prewar Gibsons a few years ago (he had been an investment banker) and he advised against it.

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I'm hanging on by my fingernails to the antiques business. If you think Chippendale Furniture was weak in 2010... Almost everything within my realm is down 50% to 75% from 2014. Every time I think I got something for next to nothing, the prices drop more. In fact much of what is in inventory is priced at 1985 prices. This all when the purchasing power of the fiat currency (a violation of the American Constitution) has dropped dramatically. It costs about $75 to buy four 1964 quarters that are well worn. 

The only thing that doesn't change is that everything changes. The only cure for high prices is higher prices. 

Paul: "Every time I think I got something for next to nothing ...... ."

Nothing to do with expensive banjos, but ^^ that reminds me of a fellow I worked for in the latter part of the 1970s.  He had migrated from England.  On weekends, his wife used to drag (?) him to Winnipeg and thru the antique shops.  According to him it was customary for [some ?] people over there to just leave their "stuff" on the sidewalk and more-or-less walk away when they moved. 

He said it was kinda a head scratcher ..... they'd left pieces of furniture on the sidewalk that  Winnipeg shops were asking $1500 - $2000 for comparable items. 

[Whether or not they were in fact "comparable," I dunno .... but that's his story and I'm stickin' to it.   ]

Bernunzio's has been around for over 40 years. Well known across US and Europe for his vintage instruments. The shop travels around the countries buying collections of mostly banjo. JB is using the Gibson a lot for promotion. Will sell if the right collector shows up.

I found my dream banjo when I lucked onto a complete,low miles 1929 tb-2 (9469-44) and bought it for $600 in '98.
I took this tenor to Jimmy Cox and hired him to cut the rim for his Kentucky 5 flathead ring and a walnut Flying Eagle neck.
After selling the original pancake tuners and the pitted flange and hoop I have less than $1000 in this magnificent 5 string.
As soon as I played it for the first time in Jimmy's shop I knew I had found my dream banjo.

Style 2's are amazing!

facebook.com/share/p/18kW7FJvSR/

My 4 lug resonator with all the chalk and red paint numbers is worth more than I have in this banjo.

Yep!

I could have bought the tb-2 for $400 in the 80s.I didn't know I wanted it,then.

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Originally posted by steve davis

I could have bought the tb-2 for $400 in the 80s.I didn't know I wanted it,then.

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But $400 in the '80s was a comparatively higher price than $600 in 1998.  You actually saved money by waiting.

I called Curtis McPeake when I got home with it and had a great conversation with him.
He told me all about pancake tuners (sold them for $200 because I hated the 2:1 ratio).
When I told him what I paid he said "Well,you stole that banjo."
I told him I was taking it to Jimmy Cox for a neck and flathead ring and he said "You're going to like that a lot."

what does the cut decal tell you ?

Not much, the rim may have been originally for an archtop and modified at the factory.

Several cut label banjos exist in other styles.

Jim Britton has discussed this on several occasions.