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There is also an element of people wanting to win in bidding situations. Who here hasn’t timed their last bid on an EBay item to pip another bidder by a couple of cents/pence? That feeling of elation. Well sometimes people pay over the odds for that.
These guitars are definitely much more desirable than they were even a few years ago. Remember when we all thought that late-70s Fenders were junk that were never going to be 'vintage' or worth anything? We were wrong... at least about the last part .
"Take these three items, some WD-40, a vise grip, and a roll of duct tape. Any man worth his salt can fix almost any problem with this stuff alone." - Walt Kowalski
"Only two things are infinite - the universe, and human stupidity. And I'm not sure about the universe." - Albert Einstein
I've no interest in going back, its just a bidding war for run of the mill stuff. My boss was interested in a bernie Marsden piece of memorabilia, even he said "a lot of it is junk, an old sports holdall with cables in".
(New way of bumping!)
The plus point of such an auction is where else in the UK can you find 400 used guitars for sale today - Other than via e-bay, gumtree etc - At least many of us can check out such stock before we make a bid - Unlike the usual sites
But I still think there are some prices out there that are lower than other outlets - As an example a mint condition, left hand AM Strat with case for £650 plus fees
Having been in person a few times, there is certainly a competitive element when bidding against someone else, and the adrenaline can take hold of your bidding hand occasionally! I just can't believe that so many guitars seemed to go beyond what you'd expect to see them sell at second hand.