#1
Sorry if there's a dedicated thread for this (if there isn't, maybe there should be).

I've been having GAS bad for the last couple months, finally bought a PRS McCarty for over $1k. It plays really sweet, don't regret it. My older electrics were both Epiphones -- a G400 and a Dot Studio (semihollow). I still have them... But I have a voice inside telling me maybe the way to "round out" my guitar collection is to replace the Epiphone G400 with a real Gibson SG.

My gut tells me to steer away from "special" "faded' "jr" whatever, and pony up a bit more for just a standard SG. I'm thinking maybe I can find one under $800, not entirely sure. Then I'd sell my Epiphone G400.

My PRS has no whammy bar, nor do either of my Epiphones, nor would a new Gibson SG, so I'm thinking that a guitar with a whammy bar would also be good. I don't have a Fender, and it looks like an American made Fat Strat with whammy could be had for a good price, too.

Then I'd have:
PRS McCarty
Gibson SG
Fender Fat Strat
Epiphone Dot Studio
Yamaha classical G255 (?)

The Epiphone Dot Studio seems very tight to me, build-wise, and I like the semi-hollow tones for some songs, I am not sure I have any reason to trade this up. Though, back when I bought it, I was eyeing Ibanez Artcore semi-hollows, it's possible I may try to play one, see if it would be a trade up.

I figure if I stay to established brands, quality, etc., I can resell these for whatever I buy them for (barring a big global economic crisis, of course) or more, so I do not really see this as spending money as much as investing it or putting it in a bank, but with the added benefit that I get to explore different guitar makers' tones.

I don't know... I step back and sometimes think, why have more than one guitar? Or one classical and one electric? When is it too much? Am I just falling into the web of GAS and need to snap out of it, or does buying more guitars make sense?

In case it matters, I don't play guitar for living, it's a hobby, though I am always working on original stuff, developing skills, so I think of it as a hobby with potential for turning into a career in the long run. Which may bring up another topic... If I am working on original songs, trying to find agent, etc., can I write off my music purchases on my taxes as a business expense? I mean, my ideal would be to make money off it long term. Just how far do you have to go into setting up a professional music career before you can start taking these sorts of deductions?

Ken
Bernie Sanders for President!
#2
I figure if I stay to established brands, quality, etc., I can resell these for whatever I buy them for (barring a big global economic crisis, of course) or more, so I do not really see this as spending money as much as investing it or putting it in a bank, but with the added benefit that I get to explore different guitar makers' tones.


Forget that thought. It is the rare guitar- even from the major makers- that appreciates or even retains its full retail value after its initial purpose. Think of them like cars in this respect.

If I am working on original songs, trying to find agent, etc., can I write off my music purchases on my taxes as a business expense? I mean, my ideal would be to make money off it long term. Just how far do you have to go into setting up a professional music career before you can start taking these sorts of deductions?


You need to talk to a tax professional to sort out what the cutoff is between "hobbies" that make money and jobs that do likewise, as well as precisely what kinds of things (and how much of them) you can cite as deductions.
Sturgeon's 2nd Law, a.k.a. Sturgeon's Revelation: “Ninety percent of everything is crap.”

Why, yes, I am a lawyer- thanks for asking!

Log off and play yer guitar!

Strap on, tune up, rock out!
Last edited by dannyalcatraz at Apr 6, 2014,
#3
Quote by dannyalcatraz
Forget that thought. It is the rare guitar- even from the major makers- that appreciates or even retains its full retail value after its initial purpose. Think of them like cars in this respect.


i'm not sure. guitars are kind of weird. there's the initial drop, which i suppose is like cars, but once that happens the value tends to flatline.

but yeah i agree, if you're buying new you're going to lose money, odds are. almost guaranteed, and that's what you should bank on.
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Quote by K33nbl4d3
I'll have to put the Classic T models on my to-try list. Shame the finish options there are Anachronism Gold, Nuclear Waste and Aged Clown, because in principle the plaintop is right up my alley.

Quote by K33nbl4d3
Presumably because the CCF (Combined Corksniffing Forces) of MLP and Gibson forums would rise up against them, plunging the land into war.

Quote by T00DEEPBLUE
Et tu, br00tz?
#4
Quote by Dave_Mc
i'm not sure. guitars are kind of weird. there's the initial drop, which i suppose is like cars, but once that happens the value tends to flatline.

but yeah i agree, if you're buying new you're going to lose money, odds are. almost guaranteed, and that's what you should bank on.

Only the better ones really plateau their value anywhere near their initial sale price. IME, others gradually decline in value for quite some time.
Sturgeon's 2nd Law, a.k.a. Sturgeon's Revelation: “Ninety percent of everything is crap.”

Why, yes, I am a lawyer- thanks for asking!

Log off and play yer guitar!

Strap on, tune up, rock out!
#5
As a clarification, I was not talking about buying new. I find good deals on used stuff that seems to be holding value. A used Gibson or Fender that goes for the bottom end of the "going rate" would, IMO, be likely to hold its value or go up. I got my two Epiphones used for under $200 and I'm confident I could sell them for the same now, and these are not classics.

Ken
Bernie Sanders for President!
#6
Quote by krm27

If I am working on original songs, trying to find agent, etc., can I write off my music purchases on my taxes as a business expense? I mean, my ideal would be to make money off it long term. Just how far do you have to go into setting up a professional music career before you can start taking these sorts of deductions?
Ken


Hey,
I'm only an accounting student at the moment, but my recommendation would to not try it until you start making some kinds of profits doing it. That's the kind of stuff the IRS will jump on and punish you for, with lots and lots of fee's. There are lots of court cases where I've seen people trying to push a hobby as a "career" or "side job" kind of thing, almost all of which the IRS have won.

However, if you were to actually create some INCOME doing this, I'd look into it more deeply. Also, if you have a primary form of income and are pursuing this and are continually producing losses in your "guitar" business, you will definitely not get let go on it.

Not to mention, it will cost you a bit more to file taxes as an indep contractor or sole proprietorship, something to weigh the cost v. benefit.

If you REALLY want me to look at it more I have some time and could. However, I'm confident my answer will be the same.

Best of luck
#7
However, if you were to actually create some INCOME doing this, I'd look into it more deeply. Also, if you have a primary form of income and are pursuing this and are continually producing losses in your "guitar" business, you will definitely not get let go on it.


As I (very dimly) recall, more than $5k/year profits is the cutoff between hobby & business.
Sturgeon's 2nd Law, a.k.a. Sturgeon's Revelation: “Ninety percent of everything is crap.”

Why, yes, I am a lawyer- thanks for asking!

Log off and play yer guitar!

Strap on, tune up, rock out!
#8
Quote by dannyalcatraz
Only the better ones really plateau their value anywhere near their initial sale price. IME, others gradually decline in value for quite some time.


i haven't really noticed, but admittedly i haven't really been looking that much into it. you may well be right
I'm an idiot and I accidentally clicked the "Remove all subscriptions" button. If it seems like I'm ignoring you, I'm not, I'm just no longer subscribed to the thread. If you quote me or do the @user thing at me, hopefully it'll notify me through my notifications and I'll get back to you.
Quote by K33nbl4d3
I'll have to put the Classic T models on my to-try list. Shame the finish options there are Anachronism Gold, Nuclear Waste and Aged Clown, because in principle the plaintop is right up my alley.

Quote by K33nbl4d3
Presumably because the CCF (Combined Corksniffing Forces) of MLP and Gibson forums would rise up against them, plunging the land into war.

Quote by T00DEEPBLUE
Et tu, br00tz?
#9
I collect a lot of stuff- guitars being the latest- so I watch prices pretty closely.

So, over the past few years, I've been looking at prices of stuff on my G.A.S. list, most recently, scouring the Internet for Reverends, Godins, G&L's, Tacomas, Breedloves, Blades, F-K's, Parkers and certain custom builders... And so I've seen how they've dropped or haven't.

Of modern guitars, high-end & limited edition big name axes tend to hold their value, especially those by certain popular/cult guitar heroes. So, for instance, you're going to find Troy Van Leeuwen Yamahas still cost @$1500...if you can find one.

Premium guitars made with high-end materials- the Parker Flys, luthier-made axes, etc.- also tend to plateau very early.

Limited Editions can sometimes catch fire- the Gibson Gov't series has apparently been selling lite hotcakes, and may even be more valuable on the secondary market. They kind of tapped into a certain psychology, y'know?
Sturgeon's 2nd Law, a.k.a. Sturgeon's Revelation: “Ninety percent of everything is crap.”

Why, yes, I am a lawyer- thanks for asking!

Log off and play yer guitar!

Strap on, tune up, rock out!
#10
LOL yeah
I'm an idiot and I accidentally clicked the "Remove all subscriptions" button. If it seems like I'm ignoring you, I'm not, I'm just no longer subscribed to the thread. If you quote me or do the @user thing at me, hopefully it'll notify me through my notifications and I'll get back to you.
Quote by K33nbl4d3
I'll have to put the Classic T models on my to-try list. Shame the finish options there are Anachronism Gold, Nuclear Waste and Aged Clown, because in principle the plaintop is right up my alley.

Quote by K33nbl4d3
Presumably because the CCF (Combined Corksniffing Forces) of MLP and Gibson forums would rise up against them, plunging the land into war.

Quote by T00DEEPBLUE
Et tu, br00tz?