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Thread: appraisals

  1. #1

    appraisals

    i need an appraisal on a 56 lp special i have + a few other non lp guitars...
    for insurance purposes
    i know about gruhns but are there others that are viable (and maybe less expensive - $50 each - ouch)
    thanks

  2. #2
    Les Paul Forum Member BillyBling's Avatar
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    Re: appraisals

    I think $50 is cheap for a guitar worth more than $10k.
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  3. #3
    Les Paul Forum Member j45's Avatar
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    Re: appraisals

    I don't know too many who would fool with an appraisal for $50 much less for any less than that. Gruhn is good to use because he appraises high, usually well over market value and recognized as "the authority" by most insurance companies and those casually aquainted with vintage. Some other dealers may be just as reliable but thier appraisals will hold little weight and some just flat out worthless when it comes to name recognition and credibility.

  4. #4
    Les Paul Forum Member zosolp's Avatar
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    Re: appraisals

    gruhn has a lot of power and most people feel safer with an appraisal from him

  5. #5
    Les Paul Forum Co-Owner TW59's Avatar
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    Re: appraisals

    Quote Originally Posted by sbarnes View Post
    i need an appraisal on a 56 lp special i have + a few other non lp guitars...
    for insurance purposes
    i know about gruhns but are there others that are viable (and maybe less expensive - $50 each - ouch)
    thanks
    Where are you located?
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  6. #6
    Les Paul Forum Member rays44's Avatar
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    Re: appraisals

    Quote Originally Posted by j45 View Post
    I don't know too many who would fool with an appraisal for $50 much less for any less than that. Gruhn is good to use because he appraises high, usually well over market value and recognized as "the authority" by most insurance companies and those casually aquainted with vintage. Some other dealers may be just as reliable but thier appraisals will hold little weight and some just flat out worthless when it comes to name recognition and credibility.
    Generally, inflated insurance appraisals do not serve the insured. You can have a '58 Jr. appraised at 50k, but if it's a replacement policy, the insurance is only obliged to replace with like kind and quality. It gets dicey here with vintage guitars, but if they can replace the guitar at a cost to them at 10k, then that's what it will be even if you decide to cash out. If it's an "agreed value" policy, there is no replacement. They just cash out the insured at the agreed (insured ) value. But now, since their ass is on the line for the entire amount, you can bet they'll be damn sure the value isn't inflated.
    Last edited by rays44; 06-05-08 at 07:11 PM.

  7. #7
    Les Paul Forum Member barneybarnes's Avatar
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    Re: appraisals

    I agree: I have delt with many insurance claims even on appraisals thay I have done as a Vintage Guitar Magazine Price Guide Participant. The insurance companies are not dumb. As long as all of the issues are addressed in an appraisal the insurance companies will try to replace the instrument with one with the same value. The insurance companies have more concerns on other not so cataloged collectible items .

    Bruce Barnes
    Vintage Guitar Price Guide Participant

  8. #8
    Les Paul Forum Member BurstMeUp's Avatar
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    Re: appraisals

    ON THE LIGHTER SIDE OF APPRAISALS ...


  9. #9
    Les Paul Forum Member fretwire's Avatar
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    Re: appraisals

    Damn, he's done bumped his price $15.00 since my last appraisal and I have documentation ready for another that's been laying on my bench since last year. This is what happens when one procrastinates!

    "Real amps glow in the dark."

  10. #10
    Les Paul Forum Member
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    Re: appraisals

    Quote Originally Posted by fretwire View Post
    Damn, he's done bumped his price $15.00 since my last appraisal and I have documentation ready for another that's been laying on my bench since last year. This is what happens when one procrastinates!
    I never got around to procrastinating!

  11. #11

    Re: appraisals

    Just for an experiment, I sent out pics of a very rare guitar I owned to several appraisal experts, a Gibson, but not a Les Paul. The results were, as they say, very surprising and telling. What it told me was this - rely on myself!

  12. #12
    Les Paul Forum Member rays44's Avatar
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    Re: appraisals

    Quote Originally Posted by 53Goldtop View Post
    Just for an experiment, I sent out pics of a very rare guitar I owned to several appraisal experts, a Gibson, but not a Les Paul. The results were, as they say, very surprising and telling. What it told me was this - rely on myself!
    I don't believe it's possible to do an accurate appraisal on a vintage guitar based on photographs. If it is done, this fact needs to be mentioned as a "limiting condition" in the appraisal.
    It's not suprising at all to find appraisals that vary like mad because there isn't a standard that has to be met (in many businesses). As a result, anyone can perform the (dis)service of writing an appraisal and often times it's not worth the paper it's written on. You wouldn't believe what I see in my business.

  13. #13

    Re: appraisals

    thanks for all the replies.....looks like gruhns it is....i'm only about 1 1/2 hr away from there....$50 might be reasonable but i've got about 6 that i need appraised...and the sudden increase to $50 threw me....
    thanks

  14. #14
    Les Paul Forum Member AtomEve's Avatar
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    Re: appraisals

    Insurance companies will insure for either the value YOU place on the guitar or a replacement value.

    It depends on the company and what you want.

    Shop around.

  15. #15

    Re: appraisals

    Gruhn is now apprasing much closer to market. I know he uses ebay a lot to look at prices.

    Also if you have six or so guitars, he will probably do a deal. He did 6 for me and charged for 5.

  16. #16
    Les Paul Forum Member DrRobert's Avatar
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    Re: appraisals

    It depends on who you're insuring with. The home insurance companies, it tends to be a bit of a crap-shoot. They're supposed to replace with a like quality item, or pay the going rate. But right now, just about any guitar you name (including bursts) has seen at least one example sell for way under market, and a savvy insurance company could jump on that to torpedo your claim. Heritage, on the other hand, is pretty good about relying on experts that they trust (so, for example, if Dave's Guitars or Ganzler signs off on the value, that's what they'll pay). I don't know how they feel about Gruhn's, I've had troubles trusting him since he (or at least his shop) did such a hatchet job of describing my 58 Custom. Still, for a straight forward guitar with an established market, he'll do fine. If you know another reputable vintage dealer, you might ask them if they'd do an appraisal...

  17. #17

    Re: appraisals

    Quote Originally Posted by j45 View Post
    I don't know too many who would fool with an appraisal for $50 much less for any less than that. Gruhn is good to use because he appraises high, usually well over market value and recognized as "the authority" by most insurance companies and those casually aquainted with vintage. Some other dealers may be just as reliable but thier appraisals will hold little weight and some just flat out worthless when it comes to name recognition and credibility.
    Not so much in my view! Use TW - he knows wassup!

  18. #18
    Les Paul Forum Co-Owner TW59's Avatar
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    Re: appraisals

    Quote Originally Posted by 53Goldtop View Post
    Not so much in my view! Use TW - he knows wassup!
    Thanks, but I am not looking to do appraisals. I do them occasionally on a local basis [and always with the guitar in hand] but I don't want to take them on as a business practice. Others are wanting that business. I am not.
    I will, however, be glad to look at guitars in my shop, and if possible, I will give free advice and "verbal appraisals".
    Pauls to the walls!

    Hüter der Flammen!

    PLEASE SUPPORT www.burstserial.com !!
    Click here: www.burstserial.com

  19. #19

    Re: appraisals

    Quote Originally Posted by TW59 View Post
    Thanks, but I am not looking to do appraisals. I do them occasionally on a local basis [and always with the guitar in hand] but I don't want to take them on as a business practice. Others are wanting that business. I am not.
    I will, however, be glad to look at guitars in my shop, and if possible, I will give free advice and "verbal appraisals".
    Me neither!!!

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