You are right, and the guitar market is experiencing many of the same things. Not all products or price points are moving in the same direction. New instruments, especially boutiques, are raising prices even as sales volumes decrease. Very bad time to be competing with your own creations that are now first or second generation used market

I second the motion Gregg. I couldn’t agree more . I chuckle saying this but there are several banjos at such a great price it’s hard not to buy them go borrow some money and buy more . I’ve got too many … that’s impossible. I have several banjos . I need to sale a couple in order to buy more but like you said .. the market is a buyers not a sellers market. The price of hardware has more than doubled in the last couple years. I talked to Frank neat today he said they can’t get
Coordinator rods at the moment . I contribute the lack of parts dare I say American parts as to why new banjos cost so much . ? Prucha seems to have monopolized that market, for now . I guess I’ll just set back lick my chops , shake my head and wonder the same thing .. why ???

The significant banjo generation of players now in their 70s and 80s (or recently deceased) is unloading its instruments. A great opportunity for younger players to get great instruments at affordable prices.

Yes, interesting. Don't know about Bluegrass banjos, but on the open-back side, definitely more vintage instruments - Tubaphones, White Laydies, etc. on the block. Richard Jones-Bamman's book "Building New Banjos for an Old Time World -interesting read, btw - explores the interaction between playing and building trends, and how they inform and even drive each other. Purely speculating, but could younger players be leaning towards the relatively mellower, plunkier sounds of a Pisgah, a Rickard or a Romero (or, indeed one from our own Zach Hoyt), and passing on the brassier, brighter 20's Fairbanks/Vegas/Stewarts/Orpheums us boomers lusted after? And, as Bill says, many of us are lightening our load, or dropping off the perch altogether.

with the internet--banjo went main stream--kids becoming prodigy s every other day--in other words a fad--same with other music--fads always wear out their welcome --and give way to a new one--how many times should people be asked to worship 3-2 pulloff or a 2 3 hammer --clean notes with out ornaments are no that sinful--It ain't about to die but a little reset is probably good for getting rid of the monotonous expert style copiers--time to find some new music on the banjo
my opinion I ask no agreement

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Originally posted by GStump

Just wondering if anyone else out there in banjo land is feeling the same as I have been lately; There seems to be SO much good used stuff, great vintage banjos available now, that it's absolutely a buyers market - NOT a sellers market. Prices appear to be at the lowest point that I have seen them in many years. Of course this topic has been discussed many times recently and there is probably no single reason for this. There are several reasons - older folks with a few banjos (define FEW!) are starting to sell them off, Not as many folks taking up banjo as in the past decade or two, The economy, The fact that new banjos are SO good and plentiful, and other reasons too of course. What really gets me confused, is most all the top shelf new banjos cost as much, more or less, as the top notch prewar banjos!! NOW that is a weird thing! But it is what it is!

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Gregg ....... I think you are right, as I am considering selling some or maybe even most of my banjos.  Fortunately I am in a position that I don't have to sell any of them, so I guess I can be pretty selective regarding price.  But, they are only worth as much as someone is willing to pay and I have always thought that when selling something both the buyer and seller ought to feel good about the price.  I also have a few mandolins and guitars that I probably should be selling, as I just don't need them laying around.

166 Gibson banjos in the classified section here
That's the most I've seen.

E

Two shifts:
The garbage instruments made in the 1970s by the major manufacturers drove/created the vintage instrument market. The major makers and throngs of boutique makers now offer quality instruments again. Musicians now have a choice between a great vintage instrument and a great new instrument.

The internet makes it much easier for only situationally-interested persons to find out about grandpa's banjo. In the 1970s and early 1980s when I was a buyer for a music store, there was no readily available information. Several times I bought really nice instruments for less than 100 dollars because the local newspaper ran free classifieds for items priced under one hundred dollars. Only a select few of us knew values and markets. Now, old instruments are quickly identified and sold on the internet and/or through prestige vintage dealers.

People collect stuff. A rare old 25 cent/quarter is only worth 25 cents in the grocery store but much more to collectors. Many boutique makers are not doing much more than copying the first/great versions of what are now vintage instruments. Lots of people copy Lloyd Loar F-5s, and some/many sound as good as a Loar, but Lloyd Loar did it first. Loar mandolins are playable and collectible. I am not seeing big price bumps when boutique makers retire or die.

One problem with vintage instruments is that many are being sold in as-in condition. This along with the keep-it-original fetish that keeps people from changing worn-out tuners, makes these instruments less workable as players and reduces trust in vintage instruments.

I think I've commented before that the market Jim Mills really opened up was converted one piece flange style 1s. He told me back around 2005 he could double convert TB 1s and sell them at a profit for $6500 all week long. That price point has NOT gone up. There are so many of them in the market.

I've been astounded lately to see the price of Bella Voce conversions down lower than Style 6 conversions! And Style 6 "best quality" conversions have BARELY returned to 2007 levels (I know, I bought a great Style 6 conversion in 2007!)

I'd really like to see a good quality Florentine conversion come on the market at current Bella Voce price.

And yet the old vintage standbys like Fender Artist, Ode/Baldwin C and Vega 1960s bluegrass banjos remain stuck in the mid $1500s.

Inflation and tariffs are driving UP prices of new banjos.

Used is the only way to go if you can develop the necessary confidence and trust, I guess.

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Originally posted by Bill Rogers

The significant banjo generation of players now in their 70s and 80s (or recently deceased) is unloading its instruments. A great opportunity for younger players to get great instruments at affordable prices.

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As well as tools and equipment for various trades etc.

My gut feeling is the prices are only going to get lower.

Many collectors I know are starting to look at reducing collections for various reasons. Myself included.

Also, unfortunately, a number of the older collectors are starting to pass on. I have been approached twice in the last month by Family members of collectors who passed on either looking for sale advice, or wondering if I wanted to pick up part of the collection. I gave the advice, and passed on picking up anything…I guess you just get to a point.

Your basic equipment, Style 3 conversions and the like seem to be going down in value, more prewar conversions exist than the amount of banjos that left the Gibson Factory…along with used Martins from the last 3 decades, and similar instruments.

Some exceptions- prewar Martins and Gibsons seem to be going up in value. Also dragging up the value of 1950’s Martin and Gibson Guitars. But only if they are near pristine and 100% as well. Prewar 5 String Gibson Banjos that are 100% all original, Mastertone or otherwise, seem to be going up a bit. Open backs, prices are dropping.

It’s all a matter of supply and demand. And as folks age out, instruments hit the market, you wind up with 166 Gibson banjos for sale here alone, - tight cash for many, especially the young and new players, and prices are not going to stable.

Old cars, books, coins…whatever, from what I hear it seems to be all the same.

Behaviours change too. For numerous reasons it’s unlikely that the larger collections put together by older dedicated collectors will be replicated.

I hope what may emerge from this availability and change are younger players who acquire banjos that enable them to explore a more diverse range of styles.

Change in banjo appetite aligns with change in hot rod car appetite.
Go to a car show. All the 50’s to 70’s custom cars have old dudes standing next to them.
Baby boomer thing

As one who continually buys/sells/trades I am in an unfolding state of shock over the depths of the banjo market. It's also really interesting to see folks put, for example, a solid 1930s style 3 with a decent neck and expect it to sell for peak-of-market price (12k). I myself have been victim of this thinking too many times only to have the market correct me. It remains to be seen what the actual settling point will be. I don't think we'll ever see that 1930s 3 for $5000, but who knows, it may get down there! The reshuffling when the boomers really unload their accumulated instruments will be a tremendous reckoning with what things are worth when supply goes UP and what people are actually willing to pay.

For those bluegrass folks, this has already started MUCH more aggressively on the old-time side, especially for the instruments considered 'blue-chip' or gold standard openbacks (Whyte Laydie 2s/7s). The rapidity in the decline of those prices is truly sobering.

Tenor and Plectrum banjo prices remain stable.

Probably not a good time to put an open back Gibson long neck together. Perfect! :)

Guitar shops and small music retailers here either haven't picked up on this economic reality, or are in denial. I can currently point to several shop-advertised vintage banjos where the retailers are attempting to sell at an inflated price that reflects 5-10 years ago. Eventually, when reality sinks in, they’re in for quite a big shock.
Retail is tough enough in the present climate. Margins disappearing will only make it tougher.

I'm insure whether this has a knock-on effect on custom builders? Maybe people thinking to sell a recent build will think twice and hold onto it in this market? That may help small banjo makers.

In the world of bluegrass banjos, there was a time when a prewar Gibson was the only option if you wanted a good sounding instrument. There are so many excellent new banjos on the market now that I believe younger pickers don’t hold the prewar Gibson in as high regard as we older pickers did. I think that’s a factor in the declining prices of prewar Gibsons. The price of a flathead original 5 string may be coming down, but going from $150,000 to $130,000 still doesn’t put it within the reach of most banjo players. Even though conversion Gibsons are competitively priced compared to new banjos, I think in the mind of younger players, why get a banjo that is an assembly of parts when you can have a brand new Prucha, Deering, or Huber and sound really great?

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Originally posted by Bronx banjo

In the world of bluegrass banjos, there was a time when a prewar Gibson was the only option if you wanted a good sounding instrument. There are so many excellent new banjos on the market now that I believe younger pickers don’t hold the prewar Gibson in as high regard as we older pickers did. I think that’s a factor in the declining prices of prewar Gibsons. The price of a flathead original 5 string may be coming down, but going from $150,000 to $130,000 still doesn’t put it within the reach of most banjo players. Even though conversion Gibsons are competitively priced compared to new banjos, I think in the mind of younger players, why get a banjo that is an assembly of parts when you can have a brand new Prucha, Deering, or Huber and sound really great?

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I guess you are right, but us older folks still see the value in owning something that is older and plays as well as any of the new banjos on the market.  Owning a nice old mahogany chest of drawers versus an Ikea  plastic covered fiberboard chest both do the same job, but just give me the old mahogany chest.  Incidentally, beautiful old antique furniture has dropped like a rock ....... way much more than banjos in the past decade.

I agree, BanjoLink. There’s something in the aesthetic of the old Gibsons that I find more appealing than any new banjo even though the new ones are fine instruments.