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| I have a 1992 Collectors Edition which I purchased from Ward-Brodt Music in Madison WI in August 1992. I instantly fell in love with it, and had to have it for my collection. I used it for about 3 years in home studio recordings, and then I inherited my Great Uncle's 1946 Gibson J-45, which became my main recording instrument. I've since accumulated other acoustics (I have an el cheapo Seagull cedartop that is my main "fun" guitar these days) and with young kids, I don't like to bring the nice ones out much anymore. I'm currently working on a Warmoth electric build, and I both need the money, and would like this Ovation to go to a good loving home where it will be played and enjoyed. It's always been kept in it's case. Never brought outside. There no scratches, cracks, delams, etc. There is a tiny bit of pitting on the tuners from age, but hardly noticable. It has never been dropped or abused in any way. I've had it on CL for a while at $1500, but have had very little interest in it at that price. I'm not certain what it is worth on todays market, but I purchased it for $1150+tax in 1992. The price can be negotiable, but I'd like to start out at $1200 and see what kind of interest I can generate. I'd like to move it to its new home soon. I will be responsible for shipping and insurance. Here are some pictures: 
Edited by 6stringer 2014-02-03 8:19 AM
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Location: Taxed To Death State | That is a beauty! |
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| Thanks! Like I said, it was one of those occasions where, when I saw it on display, it was "love at first sight"...I HAD to have it. But my wife won't allow my GAS to continue until I unload one of the more expensive pieces I own but never use.
I really does deserve a good home. It's a great piece. |
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| Price is down to $1150. I'll entertain O.B.O.s as well...
email:
ovation (at) planetmadison (dot) com |
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| $1100 and going. Email in previous post. |
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| Price is down to $1050. I will keep lowering it periodically until it is sold. I am also lowering the price on my CL ad to match.
This is a steal. Someone is going to be extremely happy when they receive this guitar. |
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Location: SoCal | 6stringer - 2014-02-03 6:16 AM I've had it on CL for a while at $1500, but have had very little interest in it at that price. I'm not certain what it is worth on todays market, but I purchased it for $1150+tax in 1992. Have you checked out eBay? There have been a few recently. Maybe you can see what they have sold for. |
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| Hi Noah, thanks for the reply. I see one that had an auction ending yesterday (it has been relisted,.. and no, it is not mine). 0 bids with an $800 starting bid.
As I said in my first post, I really don't know what they should go for. If it's less than $800, I might as well keep it. You can't just go out and spend $800 and get this much value in a new guitar. And this one is in such perfect shape it might as well be new.
What is it about Ovations that they can't hold their resale value? I see other models that look very similar going for the high $1000s. The Retail on this guitar is shown as $1699 on the Ovation website. Although I only paid $1150+tax when new. I find it really surprising. This is an amazing guitar, even for that kind of money. Hmmm. Well, if I don't get any takers soon I'll cancel the sale. |
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Location: Boise, Idaho | I haven't bought many other brands of guitars, but I don't think Ovations are much different from anything else in holding their value. You can't really expect to sell anything for what you paid for it 20 years ago. Most guitars the rule of thumb is 50 % off the list price after a few years. For some of the collectors models that were produced in fairly large quantities, like the 83s, the depreciation is worse because there are so many of them. If you don't need the money that much, keep it, play it and give it to one of your kids when they start playing. |
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| Hi Mark. I understand what you are saying, however these aren't exactly cars that lose value once you drive them off the lot.
Ovation markets these guitars as "collectible investments," which makes this all the more frustrating. My '46 Gibson J-45 is worth (at the last appraisal) 100x what my great uncle paid for it when he bought it new. Obviously, that's an extreme example. Last year, I sold my '88 Les Paul for exactly what I paid for it new in '88. I see 8 year-old MIM strats selling for $50-$100 less than new (10%-20% less) on CL and ebay.
Ovations seem to be poor investment guitars, from what I am seeing. Maybe they are just overpriced to begin with? We're talking a 40% loss of value over a 22 year span.
Or am I just totally way off base here? |
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Location: Flahdaw | Mark in Boise - 2014-02-12 11:45 AM
Most guitars the rule of thumb is 50 % off the list price after a few years.
+1
I've bought quite a few used guitars, and I would rarely pay 50% of original price. But then I'm not buying pre-war Martins either. A "collectible" guitar must have a basis for being collectible (rarity, demand, unmistakable tone, etc). Most Ovations aren't in much demand, hence low resale value. The "Collectors Series" is a bit of a misnomer anyway, but a few of them were pretty incredible (I've heard). My "99 was pretty, but rather unremarkable otherwise....
Ovation is not alone in poor resale value. I've seen some used custom made Brazillian backed guitars selling for 1/2 what they went for new |
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| Thanks for all your input, I appreciate it!
That said, if anyone is interested in this guitar, feel free to shoot me an offer. I won't be offended. On the contrary, I'd like to get a good idea of what people perceive the value of this guitar to be. Thanks! |
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Location: Boise, Idaho | You have two examples which may be exceptions to the rule. I can do the same thing with examples of cars that are worth 10 times what they cost new, but that doesn't disprove what you just said about most cars. I don't know about prices for a lot of other guitars, because I focus on Ovations, but I see ads for other guitars used and new. I think if you looked at ebay sold listings for guitars and knew the new prices, you'd see at least a 50% drop. Bob's comment about the Collector series is right on, but I was fortunate enough to find someone who bought my 99 Collector for more than I paid for it. It was obviously a marketing thing that sold new guitars, but very few of them were good investments. I don't think anyone should be buying a guitar or car as an investment anyway. I'm not a financial advisor, either, but I've done OK and I've convinced myself that I should buy things because I want them, not because someone else may pay me more for them if I store them. I'm still having trouble convincing my wife that the same is now true about buying new houses.
Edited by Mark in Boise 2014-02-12 2:32 PM
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Location: Jet City | If you're buying new Ovation guitars as an investment, i've got some swamp land for you too.
I'll just go ahead and agree with you. Ovations have a horrible resale/collectible value for the most part, unless it's very rare, and even then it's hit and miss. Collector's models are not rare and were sometimes produced in the thousands. The numbers are out there somewhere. The 90's probably had some of the highest production numbers.
That said, it's because of the terrible resale value that I've had the chance to try out a good portion of the line. Peavey's the same way. I love those USA made ones cuz I can get the same quality as a custom shop Fender for $300-500. Their quality and designs really picked up in the late 80's and carried on through the EVH Wolfgangs. The Wolfgangs and a few obscure ones like Custom Vendenburgs hold their value pretty darn well, but the rest are prime targets for eventually hanging on my wall.
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| @Damon: To be fair, I bought the guitar because I fell in love with it right away...not as an investment. That was just going to be a bonus. Or maybe my way of justifying dropping that kind of cash on a guitar. :-) |
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Location: Flahdaw | On the other hand, SOME Ovations went WAY down in price as used instruments, only to quadruple years later (particularly the electrics, like the UKII's). Ovation guitars you could have bought for $150 might sell for $700 now.
Remember, there was a time that a pre-war Martin probably sold for half it's original price......
Edited by BobG 2014-02-12 4:21 PM
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Location: Taxed To Death State | Gosh what a great guitar. The resale on Ovation acoustics is sadly so very low. I purchased a brand new Legend 12 cutaway back in 1995 for what $1200. A few months ago I wanted to sell it to help fund my solid body body desires. I had it on CL for $600, then $500, all the way down to $350. Not a single email, not even a scam. Couldn't give it away. I don't get it. Someday, some generation will realize how good some of these were. Then everyone will want one and we can all recoupe our expenses and fund our retirements. |
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Location: Boise, Idaho | 6stringer - 2014-02-12 1:57 PM
@Damon: To be fair, I bought the guitar because I fell in love with it right away...not as an investment. That was just going to be a bonus. Or maybe my way of justifying dropping that kind of cash on a guitar. :-)
I think we've all been there. I think I've used up every possible rationalization for buying a guitar. I think someone even did a thread on all of them a few years ago. Eventually, you have to just give up and say you bought it because you wanted it. Ovation marketing was very good for awhile.
Look up Ovation Ultra GP if you want to see an irrational collectible. If anyone knew that some guy in a band was going to become famous and use a bunch of Ovations 20 years after they were out of production it would have been a great investment opportunity. I had a bunch of Apple stock in the 90s when it was going down. Sold it to buy a lot because real estate was a great investment. Now I can't sell the house for what we have in it and could have bought 3 times the house for what the Apple stock is worth now. |
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Location: Flahdaw | Mark in Boise - 2014-02-13 11:14 AM
I had a bunch of Apple stock in the 90s when it was going down. Sold it to buy a lot because real estate was a great investment. Now I can't sell the house for what we have in it and could have bought 3 times the house for what the Apple stock is worth now.
Good thing you chose to be a lawyer, where you didn't have to worry about anyone ever trusting you....  |
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Location: Boise, Idaho | You guys quit outing me. I think I might have finally gained some credibility here without Cliff around to shoot me down. |
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Location: SoCal | Mark, you're an attorney. I would think that after all these years you'd be used to having no credibility.
Tony Rice, in 1975, paid $550 for Clarance White's 1935 D-28. Can't even imagine what it's worth today........
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Location: Boise, Idaho | I have even less credibility as a guitar player. |
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| SOLD. Thanks for all the comments! |
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1992 Collectors Edition in near-mint condition
