While tariffs will undoubtedly affect new imported guitars, we wonder what is happening with used guitar prices?
Inflation alone, has forced many people to reduce their hobby indulges over the past few years. Now add a sudden ten to thirty percent increase to all hobbies dependent on imports and it can cause nightmares of having to switch to other hobbies – Stamp collecting? Entomology? Knitting???
Thankfully, guitarists have an advantage. A guitar has a very long lifespan, so the pool of available used guitars grows every year, helping to soften the effects of market dynamics that can cause wild fluctuations for new products.
And yet, used guitars ARE affected by some factors. When tariffs first dominated the headlines and a prohibitive amount was aimed at China, there was some panic.
Many, fearing job cuts, sold off some of their guitar collection, causing an oversupply and lower prices. Our shop alone, bought about a hundred guitars from late April to mid-May, and they’re still coming in. We have a back room stacked with guitars that we won’t have time to prepare for awhile.
Prices of new guitars were already high. Imported Epiphones are selling up to $1700. LP models are selling in the $1300 range. An Epiphone acoustic SJ-200 on Sweetwater is $1500.
Higher prices of new guitars affects the price of used guitars, especially those under five years old. Sellers think, “I paid $XXXX for this guitar and danged if I’m going to sell it for $YYY less!
So, in the short run, expect prices to dip as the market anticipates tough times ahead, then rise back up as new guitar price increases start to have their effect.
So, sellers should hold off a year or so, if they’re able. Otherwise, maybe sell right now before prices go lower. Buyers — it’s always a good time to buy another guitar!
Note that Reverb’s charts don’t necessarily agree with our local experience.
These Reverb.com charts are based on “Very Good” condition models:
