Confessions of a Vintage Guitar Dealer by Norman Harris

Author:Norman Harris
Language: eng
Format: epub
Tags: autobiography
Publisher: Hal Leonard
Published: 2016-07-13T04:00:00+00:00

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The businessman in me often buys back guitars I once sold, for much higher prices, because it’s a new business opportunity. I have had many customers turn tremendous profits selling me back guitars that I once sold to them.

I have sold Sunburst 1950s Les Paul Standards for $2,500, buying them back ten years later for $25,000, then reselling and re-brokering them for six-figure sums. The same has been true for high-end flat-top acoustics. I once brokered one of the finest Martin prewar D-45s for $7,500. At the time the $7,500 seemed like huge money. The buyer later resold the guitar for over twenty times his investment. I have to look at each deal as a new opportunity.

The market is influenced by many factors. Because the vintage guitar market is an international phenomenon, exchange rates greatly influence prices and demand. When the dollar is weak against foreign currency, it becomes a terrific bargain to buy American goods. At times, instruments were purchased for sixty or seventy cents on the dollar.

The Japanese market is a good case in point. The Japanese have been greatly influenced by American music and musicians. They quickly realized American-made guitars were extremely well made. As prices escalated, they wanted to get in on the action. Japan was the first country outside the United States to recognize the investment opportunity in vintage guitars. When the exchange rates were favorable, these instruments were a great bargain.

Because my father brought the Brother Sewing Machine Corporation to the United States, we always had many Japanese friends, and I have always had a great affinity and respect for the Japanese people.

My store eventually became a must-stop for many Japanese tourists throughout the years. At times tour buses would pull up with loads of Japanese customers. When the exchange rate was favorable, there were times that we literally had to limit the amount of guitars these customers could purchase. I wanted to make sure we had enough quality stock for our next visitors.

When I first opened, I was selling pre-CBS Stratocasters for well under $1,000. Americans themselves were asleep, but the well informed Japanese buyers recognized opportunity.

It can be cyclical. I ended up repurchasing many guitars that I sold to Japanese buyers over the years, for which they made nice profits. I was happy to have the instruments back on our shores.

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