The quarterly question - How do we feel about the used market?

[Steve Haynie]

1 hour ago, velorush said:

Do Income Tax States recognize the 1031 Like Kind Exchange offered at the Federal level? 

Is that not part of the IRS tax code.  South Carolina has income tax, and that 1031 exchange is necessary to avoid taxes. 

When I asked a real estate agent what I was supposed to do with the money, he mentioned that I could just "1031" it.  It was not his problem.  Oh, boy.  I would have to find another investment property within 90 days.  On top of that, I would not have enough money to buy another property of equal value since the realtor's fee would be deducted from what I get. 

I have known one real estate agent I liked because she really wanted to sell properties for me, and she did find buyers.  She wanted all the commission, too.  Too many of the others just want to list properties and not look for buyers.  One ruined a sale for my father with a sloppy listing job. 

Back to guitars.  None of mine have been investments.  I bought the "off-brands" like Hamer and Music Man.  There was even a Robin and a Jerry Jones.  Everything was bought to play.  There was never a problem of value.  At the store where I worked there were people who talked about how they were choosing a guitar based on it going up in value.  Sure.  You play it and put wear on the guitar, but it is going to go up in price within the next year or so. 

With used guitars or amps it is nice to get back what you paid.  Considering that it took me years to decide to sell some gear I was able to get about the same amount.  It was all bought because I wanted the gear, not as investments. 

[django49]

A 1031 exchange should work for the state. I only qualify that because I do not know the tax laws in every state.

The concern about having to identify a new property in a short period (with added  time to closethe deal) is real.....Meaning you can lock yourself into an urgent need to complete a transaction, maybe unfavorably, to avoid the tax liability resulting. True that your equity gets diluted by selling costs. IMO, it only makes sense if you are trading up, probably in a major way. Meaning, you use all the money from the first sale (and maybe cash out of pocket) for a down payment and take on a LOT of new debt to buy a bigger and more expensive property. And that means taking on more risk, and at a time when it appears the market is expensive.....At least by my "we bought at $20-25k per unit in the 80s and 90s" mindset. MAYBE if I was 30 years younger.....But, personally, that is not for me. Better to just sit back and enjoy the ride.

[Jimbilly]

On 2/23/2025 at 7:55 AM, Disturber said:

I tried to sell some amps last year and it was hard. No bites at all. Now I recently sold three heads and one cab. But the cab was a hard sell. It was a 1974 Marshall 1960A and I had to drop the price on it. I am thinking, are players going more to digital and in ears? Are new players less interested in amps + cabs?

Yes, I think direct/in-ears is the trend, but real amps are not gone, and the in-ears guys probably aren't any less 'GASsy' that we are.

  I sold an '87 jcm800 412 about a month ago for 600, it was pretty clean, it took a month or two for it to go away locally, the guy was pretty stoked and talked about it being 'iconic'.  That being said... I wouldn't want to be trying to move a bunch of B or C quality 212 or 412 cabinets right now. 

[Disturber]

1 hour ago, Jimbilly said:

Yes, I think direct/in-ears is the trend, but real amps are not gone, and the in-ears guys probably aren't any less 'GASsy' that we are.

  I sold an '87 jcm800 412 about a month ago for 600, it was pretty clean, it took a month or two for it to go away locally, the guy was pretty stoked and talked about it being 'iconic'.  That being said... I wouldn't want to be trying to move a bunch of B or C quality 212 or 412 cabinets right now. 

We tried in ears rehersals with the band over a year ago. Drummer and guitarist/singer loved them. I could not get them out of my ears fast enough. I need to feel the air moving. I need cabs.

[django49]

On 2/23/2025 at 2:14 PM, The Shark said:

Only in "Community Property" states.  "Common Law" state residents don't enjoy that 100% step-up.  So, there are only nine states that are community property states.  Sadly, I don't live in one!  And a "Pre-Nup" blows all that up.  In substance, a pre-nup is designed to ensure property isn't "community".  

True Dat......My perspective is as a resident in a community property state. If you are NOT so blessed, the step up will be only on the portion held in the name of the first deceased. Which MAY be half of the subject property if held in joint name. And may be something different than a 50/50 split, esp if there are other investors.

One strategy that one of my investment partners used (obviously he knew he was terminal, this being in Oregon, a non community property state) was to have his wife quit claim deed her half of their interest to him before he died. Then, upon his death, the full 100% went from him to her and she did enjoy a full step up. Key thing here is to check off with your legal advisor in your location BEFORE you get locked in.

I outlined the advantages of the step up in basis with my better half. She did not necessarily concur that it would be a smart thing to do for HER to go first......😏

[Biz Prof]

6 hours ago, Disturber said:

We tried in ears rehersals with the band over a year ago. Drummer and guitarist/singer loved them. I could not get them out of my ears fast enough. I need to feel the air moving. I need cabs.

^^^this.

F@$% in-ears.  I hate them. Using them reminds me of the faux AM radio fade at the end of "Have a Cigar". Tinny and shitty sounding.

[LucSulla]

14 hours ago, Biz Prof said:

^^^this.

F@$% in-ears.  I hate them. Using them reminds me of the faux AM radio fade at the end of "Have a Cigar". Tinny and shitty sounding.

That's definitely where I get called a boomer by the younger guys around here. I can't stand in-ears. I don't even like to be loud in my wedge. I want just enough to know I'm in tune and in key. Other than that, I need to feel the rest of the band. 

[velorush]

I've only had one opportunity to use in-ears. The last gig of the band I was in was this really large youth gathering - large enough they hired a sound company. They were setting up and asked everyone if they'd like in-ears. Everyone opted for them except me. "Shure 57 on my amp and a wedge please." No idea if that was the right choice but it was definitely what I was used to - like @LucSulla said, just enough to know I'm in tune and in key.

[LucSulla]

9 minutes ago, velorush said:

I've only had one opportunity to use in-ears. The last gig of the band I was in was this really large youth gathering - large enough they hired a sound company. They were setting up and asked everyone if they'd like in-ears. Everyone opted for them except me. "Shure 57 on my amp and a wedge please." No idea if that was the right choice but it was definitely what I was used to - like @LucSulla said, just enough to know I'm in tune and in key.

They've gotten popular around here, but the sound engineers at the local bars aren't any better on average than the were 20 years ago. My ears are already too blown out to risk some 23-year-old stoner nuking them at close range. 

[Biz Prof]

6 hours ago, LucSulla said:

That's definitely where I get called a boomer by the younger guys around here.

I got that treatment a few times--about both in-ears and amps on stage. Ironically, the same young lads who overtly called me a dinosaur later approached me to talk about my tone. They loved it and wanted to know the source. I just laughed and said, "Ask your modeler. To be sure it has to be in there somewhere. "

[The Shark]

On 2/23/2025 at 8:16 PM, django49 said:

A 1031 exchange should work for the state. I only qualify that because I do not know the tax laws in every state.

Kind of my point.  I consider myself an expert in tax law with respect to my clients in Florida.  Everything else is just me regurgitating my research of others guidance.  Nobody knows the tax laws for every state.  There's no money in that.

[LucSulla]

16 hours ago, Biz Prof said:

I got that treatment a few times--about both in-ears and amps on stage. Ironically, the same young lads who overtly called me a dinosaur later approached me to talk about my tone. They loved it and wanted to know the source. I just laughed and said, "Ask your modeler. To be sure it has to be in there somewhere. "

I played a show probably about three-years back in a converted movie theater, one of those big ones towns used to have on the square back in the day before cinema multiplexes and the hollowing out of small downtowns. It was big enough that I could really open that Vintage Modern up through a 4x12 without killing everyone. 

The sound guy there was about 22 and had never really heard a half stack at proper operating temperature. At set break, he said he'd never really understood what the appeal was for them over modelers until tonight. He said, "Like it's not just the tone - it's got so much power! When you just play an open A or E, I'm like 'Oh - so THAT's what rock bands used to sound like!' I fucking get it now. It's amazing!"

Lol, like - yeah. There was an era when we were allowed to bump as hard as the dance music, and it was glorious. 

 

[HSB0531]

On 2/23/2025 at 3:59 PM, bubs_42 said:

The buy/flip has definitely changed. My philosophy going forward is to buy with intent. You want it, it better be a good one. I have a few things to move yet, and a few projects to finish up. 
 

if something worth the purchase shows itself I’ll think twice. 

I've always hung onto basses and other gear for a very long time. The longest so far is the Precision ( 51 years ), the Standard ( 44 years ) and holy shit, the Standard 12ver has been 15 years now!  I'm definitely not flip prone but I did sell 5 long term basses to pay the bills.  I can understand both the buy/flip and the buy with intent way of thinking. 

[Jimbilly]

On 2/25/2025 at 10:33 AM, LucSulla said:

That's definitely where I get called a boomer by the younger guys around here. I can't stand in-ears. I don't even like to be loud in my wedge. I want just enough to know I'm in tune and in key. Other than that, I need to feel the rest of the band. 

I have quoted a friend numerous times who said this years ago, and he's mostly like not the original source

"monitors are for two things only: pitch and timing"

  I think some singer was asking for reverb in his monitor wedge, when we really didn't have time to mess with that. 

[velorush]

2 hours ago, Jimbilly said:

I think some singer was asking for reverb in his monitor wedge, when we really didn't have time to mess with that. 

I put a little reverb in the monitors for the soloists (the X32 has a beautiful plate model) because it makes everyone sound better and that promotes confidence. However, I’m not setting up in a new venue every night as I picked up from your post.
 

That said, one thing to NEVER put in the singer’s monitor is delay… well, unless you really want to mess with them. 😅

[HSB0531]

On 2/24/2025 at 10:52 PM, Biz Prof said:

^^^this.

F@$% in-ears.  I hate them. Using them reminds me of the faux AM radio fade at the end of "Have a Cigar". Tinny and shitty sounding.

I've only set them up for acts, but I don't think I'd like to use them, just too isolating unless you're using a Klang setup:  https://www.klang.com/musicians/

I did tech support for The Doobie Bros. and Peter Wolf band in November 2019. Peter Wolf used 9 wedges.  We had to remove all of them between acts because The Doobies used In Ears only.  It was a very clean stage, no cable clutter or feedback.