Let's look at Knopfler's guitars

[Chris Type R]

Burrow01 said:

Chris Type R said:

Would the sale of those be subject to CGT ?

I don't think so, similar to wine, art and classic cars

Had a google, and that looks to be correct - as they'd be considered 'wasting assets'.

[Halmyre]

Three went for £500,000+. Each.

[slopes]

The '59 Les Paul was always going to fetch a hefty price but half a million for that Pensa Suhr is just mad.

[W124]

Jesus. They are just guitars.

[Yahonza]

Well yes and no. Knopfler is one of the great guitarists.
The Schecter went for a stupendous amount given its reserve price. The 3 iconic guitars for me are the Les Paul from Brothers in Arms, the red Strat used for all the early Dire Straits stuff, and the Dobro.

[W124]

It just seems daft. But the prices people pay for vintage guitars seem mad to me anyway. They don’t sound any better than modern guitars. Often much worse.

I sure to him, they are just some guitars.

[cherryowen]

slopes said:

half a million for that Pensa Suhr

It's a very lovely thing, but half a mill?!?!?

Could I not just visit Rudy and commission the exact same guitar for a fraction of that cost?

[sidewinder500]

W124 said:

It just seems daft. But the prices people pay for vintage guitars seem mad to me anyway. They don’t sound any better than modern guitars. Often much worse.

No they don't

[W124]

We’ll have to differ on that. Some guitars just sound better than others. So many variables. Age is not one of them. In my humble experience.

[gazza285]

Yahonza said:

Well yes and no. Knopfler is one of the great guitarists.
The Schecter went for a stupendous amount given its reserve price. The 3 iconic guitars for me are the Les Paul from Brothers in Arms, the red Strat used for all the early Dire Straits stuff, and the Dobro.

Which Dobro though, the 1937 Dobro on the cover of Brothers In Arms, or the 1995 one in the auction?

[sidewinder500]

W124 said:

We’ll have to differ on that. Some guitars just sound better than others. So many variables. Age is not one of them. In my humble experience.

But weight is and the older ones are definitely made with better wood than from the mid 70s on, we regularly have 5 - 10 a week, all from early 60s to today's stuff from Fender and Gibson in every variation (original old, custom shop, Fender american, off the shelf stuff, collectors pieces etc), and the older ones have a certain 'ring' to it, when you play them back to back you can hear the nuances.

But you are definitely right on variables, and some do sound better than others.

[Tom1312]

Over 100k for several of the mid 80s LP standards.

That's absolutely nuts.

[Bubbas Grill]

Anyone want to buy an Orange Head I bought from Jimmy Page in 2003? Signed. Authenticated. Not sure if used by him but I was there when he signed it.

It's in a cupboard...

I keep thinking I should do something about it.

[Elderly]

Chris Type R said:

Burrow01 said:

Chris Type R said:

Would the sale of those be subject to CGT ?

I don't think so, similar to wine, art and classic cars

Had a google, and that looks to be correct - as they'd be considered 'wasting assets'.

They are wasting assets, but as items that were used as part of a business, I doubt that applies?

If however he was given a guitar ( hence he had no intention of using it for business ) and didn't use it in any way commercially,
then it should come under the wasting asset CGT rules.

A PH accountant will hopefully be along shortly to give us chapter and verse ........

[President Merkin]

Is the guitar bubble back? Cool, I've got a '60 refin Strat I've been thinking about moving off the fleet. Might scratch 'Knoffler' into it with a compass & triple the asking.

[W124]

sidewinder500 said:

W124 said:

We’ll have to differ on that. Some guitars just sound better than others. So many variables. Age is not one of them. In my humble experience.

But weight is and the older ones are definitely made with better wood than from the mid 70s on, we regularly have 5 - 10 a week, all from early 60s to today's stuff from Fender and Gibson in every variation (original old, custom shop, Fender american, off the shelf stuff, collectors pieces etc), and the older ones have a certain 'ring' to it, when you play them back to back you can hear the nuances.

But you are definitely right on variables, and some do sound better than others.

Cheers, man.

What a pleasant and considered reply. Wood is key, as you say. Thing is though, old guitars be old. They don’t sound they did on the records we revere - because they were brand new guitars when those records were made.

It’s like choosing to daily a Morris Minor, though in fairness, I would if I could.

I am a guitarist by trade. Have been for 30 years - it amazes me still how random it all is. How incredible some guitars sound - even in relation to other guitars, made at similar times by the same people, to the same spec. And how some guitars just have that thing.

I have a lot of guitars. Some really collectible- but the best guitar I have, in terms of both tone and tuning stability, is a 1982 Ibanez SB70. That particular guitar is the one I always take with me for sessions.

I have a flashy Gibson and Fender to hand - mainly to look professional, but the Ibanez is the one that gets recorded.

[Chris Type R]

Elderly said:

Chris Type R said:

Burrow01 said:

Chris Type R said:

Would the sale of those be subject to CGT ?

I don't think so, similar to wine, art and classic cars

Had a google, and that looks to be correct - as they'd be considered 'wasting assets'.

They are wasting assets, but as items that were used as part of a business, I doubt that applies?

If however he was given a guitar ( hence he had no intention of using it for business ) and didn't use it in any way commercially,
then it should come under the wasting asset CGT rules.

A PH accountant will hopefully be along shortly to give us chapter and verse ........

I think in this case it's wasting asset falling under plant and machinery due to having mechanical parts - not sure if it's true or not, but this is where I read about it - https://www.accountingweb.co.uk/any-answers/income...

[gazza285]

W124 said:

I have a lot of guitars. Some really collectible- but the best guitar I have, in terms of both tone and tuning stability, is a 1982 Ibanez SB70. That particular guitar is the one I always take with me for sessions.

I have a flashy Gibson and Fender to hand - mainly to look professional, but the Ibanez is the one that gets recorded.

It might be a nice guitar, but that era of Ibanez headstock always put me off, there’s just something about it that I don’t like. I know it’s only aesthetic, but it’s a no from me.

In a similar vein, I have many guitars, but it’s my Gibson Les Paul Special that ends up being used, it has a thin body, no maple cap, coil taps and a Bigsby. It’s great.

[W124]

It’s a pretty bland looking thing. Headstock normal really. Has a phase switch on it that really gives a weird, Peter Green like tone. Whether it’s wired correctly I’ve no idea. Don’t want to touch it. Magical instrument. I actually have two of them.

[sidewinder500]

W124 said:

It’s a pretty bland looking thing. Headstock normal really. Has a phase switch on it that really gives a weird, Peter Green like tone. Whether it’s wired correctly I’ve no idea. Don’t want to touch it. Magical instrument. I actually have two of them.

Thanks for your answer, W124.
Again I completely agree, as the best sounding LP in our stock is a mid 80s one from Yamaha...
I'm only the drummer (I play guitar as well, but not by trade), but out guitarist is a maniac and collector, so we end up each week testing and singling out the ones which are going away again. Not many of them stay.