Silvertone

Here’s a change of tack for CRAVE Guitars this month and not something I would normally pontificate about. Yes, there is still some pretentious waffling, so October 2016’s article is not a complete volte face on my part. Before I get going, though, a wee bit of background in 3 points…

My adult working life started in the music industry many, many years ago with very well-known UK south coast musical importer and distributor, which is still in business (and present at the titular event). The only point in mentioning this is that I’ve seen the world of guitar business from both sides of the tracks for a long time.
I have also been to many trade shows over the years and, like many, they become pretty ‘so what’ after a while, especially those where the big manufacturers predictably roll out their shiny new stock and their professional sellers push to move product to eager consumers (or dealers). This is a necessity in any sector and is just par-for-the-course in the world of music trade. The only point in mentioning this is that, over several decades, I’ve become jaded and the anticipatory excitement of pretty new toys at these gatherings has long-since faded. As a result, I haven’t been to a sales/exhibition event for a very long time.
I have also shifted away from new guitars, amps, pedals, etc. and refocused on older and vintage stuff. This passion for vintage guitars ‘n’ things germinated because I hung on to some nearly-new gear back in the day and it has now, inevitably and rather obviously, became old. New equipment rapidly lost its superficial gleam and, like me, the relic patina gained through years of continual use began to shine through in a very different way. The only point in mentioning this is that what I’m looking for now is very different to what appealed to me as a naïve teenager, when new=good, old=bad.

Beyond the cyclical round of big trade shows, I became aware of some regional shows also taking place in the calendar, clearly run by enthusiasts passionate about the subject matter, rather than sterile accountants obsessed with maximising the contribution to the bottom line. These ‘boutique’ events looked much more alluring to me because they encapsulated the desire for guitar music, rather than the drive for mere cash profit. To my chagrin, though, most of these provincial events took place around the north of England. Now, I have nothing against the north other than my own innate laziness to travel and the demands of a full working/family life, so these events came and went without me.

I have, though, campaigned for a while on social media to bring guitar shows down south. Let’s face it, the urbanised south east is where a lot of the country’s filthy lucre is stashed away, so the vacuum down here was a bit perplexing. This may be because of the prohibitive costs of putting something on anywhere near London, especially during recessionary times.

My ‘prayers’ were to be answered. Roll forward to October 2016. Peter and Gail from Northern Guitar Shows (notice the name) thankfully saw an opportunity to address the issue and hosted the South Of England Guitar Show at Kempton Park Racecourse in Surrey this year. Even better, they put me on the guest list – so a big “thank you” to them. Now there was an additional incentive to get out of bed and haul my lazy fat arse over the county boundary and go see what was on offer.

My jaundiced and sceptical view of the music instrument industry (colloquially known as M.I.) has been reinforced by my recent experiences of arrogant vintage and new guitar retailers in both London and the south east. Restoring a little faith, the South Of England Guitar Show was very busy with ordinary folks keen to partake and it looked to be a major success. It also turned out to be an enjoyable experience for a weary, road-worn music veteran. All credit to Northern Guitar Shows for taking the risk with us fickle softy southerners.

Yes, there were the usual trade exhibitors, which one accepts, but none of the corporate big boys – no Gibson, Fender, Marshall, etc. For some, that may have been a disappointment, to me it was a blessing. To many stallholders, exhibitors and performers, it was probably run-of-the-mill and part of the annual trade circuit. Again, to me, it was refreshingly ‘intimate’ and, mostly, friendly. There were, of course, the usual dickheads who come out of the woodwork to frequent these things and make their presence known but, like bad weather, one just has to put up with them.

I was pleasantly surprised at the diverse range of smaller companies making the effort to extract my (sadly hard-earned, rather than ill-gotten) currency. Of note were some up-and-coming guitar makers presenting their wares, including among many others, Palm Bay Guitars, Stone Wolf Guitars and Flaxwood Guitars, all of whom make very pretty and practical musical instruments.

I was also pleasantly surprised by the number and variety of vintage instruments for sale including some VERY nice, but expensive, pieces – too many to mention here. The mix of new and vintage was something that has clearly come about since the last time I trudged around exhibition halls – thinking about it, there probably wasn’t a mainstream ‘vintage’ market way back then, at least not in the way there is now.

There was also decent live music on offer and a host of fringe stuff to maintain broader interest. Of note was The John Verity Band – to those that remember, he was in the band Argent and is a very good blues/rock guitarist. Also worth a listen was industry veteran Phil Harris commentating provocatively about the obsession with vintage authenticity by suggesting that reproductions can not only be as good as the originals but in many cases better. It was refreshing to hear someone who has profited considerably from the vagaries of the vintage market arguing to the contrary in very pragmatic terms. He is quite a nifty guitarist too. The objectionable high-net worth collector market aberration is something that I have also tried to articulate in my blogs but, heh, who listens to me?

Not only did I wander the aisles academically looking for a variety of desirable bits and pieces, I actually shelled out some dosh on a selected vintage item. I had made the effort to be there and so had the sellers, so I wasn’t about to leave empty‑handed. Was I tempted by the usual array of vintage Strats, Teles, Les Pauls, ES‑335s, et al, all going for what I still think is silly money? Hell yes, of course I was – don’t be ridiculous! Even though the art of haggling is still accepted at these events, the prime guitars were all (sadly) way out of my price range, especially during my current period of enforced purchasing abstinence.

So, you may ask, what did I come back with? My eye had been caught by a very modest and reasonably priced cute little guitar… a 1964-ish black sparkle Silvertone 1449 complete from Terry’s Guitars. Terry is selling much of his guitar collection and this baby was up for sale. For those who may not know, Silvertone guitars were made by Danelectro in the ‘60s for the American Sears & Roebuck department stores and were sold as a set with their ‘amp-in-case’ as an ‘all-in-one’ solution for beginners. The Silvertone is pure Danelectro, complete with twin ‘lipstick’ pickups and vinyl tape body edging. The 1449’s sweet 5-watt valve amp features a tremolo circuit and 8” speaker, all of which is cleverly integrated into the slim (and heavy) guitar case. While not the first or last, as an offering to the mass market, it was a genius idea from half a century ago and a move that proved very successful for Sears and Danelectro.

The guitar was very competitively priced because the headstock has a crack in it which, while relatively common, had been poorly ‘repaired’ (with screws – yikes!). This will need professionally seeing to and I feel a trip to see Dave at Eternal Guitars coming on. However, the guitar was otherwise very clean and all-original, and the ‘amp-in-case’ was working (albeit with a new Weber speaker to replace the original). In fact, the valve amp sounds VERY good for what was originally a budget practice amp. So, 52 years after it was made, this particular Silvertone has found a new home at CRAVE Guitars. One wonders where it might be in another 52 years’ time. Who knows?

I was interested in this particular guitar because I have been looking for a vintage Danelectro for ages; CRAVE has a 2008 Chinese-built Dano ’63 which is a modern interpretation of the 1449 (but no case), so this seemed an ideal match. The Silvertone also fits with CRAVE Guitars’ core ethos – Cool & Rare American Vintage Electric guitars (that’s what the acronym CRAVE stands for after all) – and the meek little hybrid ticked all 5 essential criteria. After a short haggle, Terry let me have it for a reasonable price, including the step-down transformer for the amp’s 110V power supply, which all works perfectly. Thanks Terry. What a cool guy! Striking a great vintage deal was the icing on the cake for a Sunday out with a difference.

So, kudos to all concerned. The good news is that the South of England Guitar Show will return to Surrey on 29^th October 2017. My advice? Why not give it a go if you like the idea. Until next time…

CRAVE Guitars ‘Music Quote of the Month’: “Age does not stop a guitarist, death does.”

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If you’ve followed my recent posts, you’ll know that I have been looking around for cool and rare American vintage electric guitars (and basses) again recently. Nothing new in the way of CRAVE Guitars stock to report this month, so it is an opportunity to reflect and pontificate, as well as to share my biased opinion on our shared hobby again.

As part of my on-going research, I regularly check a well-known auction site beginning with ‘e’. One thing that I have noticed is that many prices are now escalating at least back to where they were pre-recession and often higher. The rate of increase also seems to be accelerating but inconsistently so, which makes the market uncertain. While the general upward trend might be good news for investors at the genuinely rare instrument end of the market, it is also putting some great, and even some ordinary, vintage guitars beyond the means of your average amateur collector or re‑seller. It seems predictable that fickle speculators will soon jump on the bandwagon (again) and what would otherwise have been considered run-of-the-mill instruments will hit stratospheric levels (again). The dreaded ‘boom and bust’ cycle looms ugly (again), which isn’t good for anyone. The upper extremes are more to do with damnable greed and detestable avarice – commonly called rampant capitalism – the economic law of supply and demand in a free market. At more modest levels the pressures are seemingly more complex.

Another thing that I’ve noticed is that, while the ‘common’ models are still relatively numerous, some of the more esoteric, niche guitars are often nowhere to be seen these days. This may suggest that people are hanging onto their valued old guitars, rather than putting them out to the unpredictable market, especially risky in an online auction environment. The result of this anomaly is that prices are increasing due to an artificial rarity factor – the supply dries up while the demand increases, making some less popular instruments disproportionately and unsustainably pricey. To test out this hypothesis, I have been looking for some slightly more unusual instruments and they can be really hard to find, resulting in some diverse and frankly crazy price differentials, especially compared to new guitar prices. However, you can still get a nice late vintage guitar (which will go up in price in the medium to long-term) for less than a new one (which is likely to depreciate for the next 20 or so years). That, at least is still good news for many of us preferring used instruments.

So… my next step was to look further afield. When comparing the UK with the US and Canada, there is, understandably, more choice in that much larger continent (and birthplace of our beloved classics). At first glance they can seem to be offered at an attractive price. However, when taking exchange rates (currently not good for importing from the US into the UK), international delivery, import duties, national taxes, handling fees and insurance (if you can afford it!), importing isn’t the bargain it first seems, especially as HMRC has tightened up the process significantly compared to a few years ago. Other markets, like mainland Europe, Australia, Japan, etc. are relatively inconsequential to the US/UK trade. Asian and Russian trade is certain to increase. In summary, importing is still worth a look though, as long as you do your research first. The Epiphone Olympic below was my last costly import from Canada.

Coming back to that well known auction site for a moment, the word ‘auction’ seems to be largely a misnomer these days. Actual auctions where you can bag yourself a bargain vintage guitar are now a frustrating rarity. ‘Buy It Now’ (BiN) seems to be the default option for most high value sellers. This means that many a cheap purchase can turn out to be risky and ‘Best Offers’ are rarely a source of great joy. Also, that heart thumping, sweat inducing, adrenalin pumping rush of the last few minutes…and seconds of a bidding frenzy for a desirable vintage guitar that you really, really, really want seems to be becoming a thing of the past. That’s a shame if you ask me, as a lot of the fun has gone by the wayside. BiN prices often seem to be set high initially and guitars sit there until the ‘real’ market value catches up, so there are quite a few that hang around until people see them as affordable. My inference is that, while it may be fine and convenient for one-off purchases, it is no longer a great source for a fledgling business enterprise on a tight budget, as precious net profits can rapidly be eroded. This applies to both buying and selling. This is probably similar to other ‘collector sectors’ such as classic cars, so I guess we adapt and move on.

Fender and Gibson still dominate with Gretsch and Rickenbacker hot on their tails, as well as early PRSs. Don’t forget other classic brands like Danelectro, National, Vox, Guild or Burns. Japanese originals from Yamaha and Ibanez are increasingly collectable too. There are plenty of whacky vintage guitars from minor brands, often long since demised, Supro, Silvertone, Teisco, Harmony, Kay, etc. that can prove real bargains if you’re careful. If you are into acoustics, Martin is still probably the most reliable bet.

So, where does this leave us in the post-recession world? Not as much choice when buying and what there is, is of variable value. The desirable instruments that we might aspire to are becoming increasingly exclusive again, except for the affluent in the vintage guitar community. Looking to the future, prices look set to rise inevitably and keep rising inexorably thereafter, until the next bubble bursts. The high end (i.e. occupied by the super-rich) will carry on regardless of global economics but that’s hardly the rarefied atmosphere us ordinary mortals will ever find ourselves in. There are bargains out there but, as ever, you have to seek them out and auction sites are as good as any other source. If you’re after a return on investment on a newer guitar, you may have to wait a while, so why not enjoy playing them in the meantime? In conclusion, if you want to get your hands on a lovely vintage guitar at a reasonable price and if you can find a good one, go for it while you can. Good luck. Thanks for reading this article.

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October 2016 – The South of England Guitar Show 2016

August 2015 – Vintage Guitar Supply and Demand