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Disappointed in Appraisal

Posts: 2713 Threads: 555
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I recently had my 58 Gretsch drums appraised and I'm shocked at the appraised low value. I am by no way critisizing the appraiser - he's well know & good at what he does I'm sure. I'm not going to mention names here.

The appraised value came in just over $2,000. I've been told by a few people in the last year that they're worth easily 2x and maybe 3x this amount. I'm not selling the drums - that's not what this is about. I've got $3500 into them....roughly and I'm okay with that because they're my dream kit and you can't put a value on that.....well, not easily anyway.

Please feel free to give your opinion on the worth of these drums.....

my feelings can't be hurt any more than they already are. I was stunned at the appraised value actually.

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Posted on 13 years ago
#1
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Something is worth what people are willing to pay for it at that particular time. No more. No less.

And, that changes with time.

The best way to know what your item is worth in todays market is eBay. Check completed auctions for a same item and it should give you an idea.

Now, a '58 Gretsch is not going to show up on eBay every day so it may take some time and some watching to get a decent average.

But, like you said, you don't want to sell them.... just to value them.

And, my opinion of appraisals is also with explanation. Appraisals come in many flavors and colors. Insurance appraisals for replacement insurance, for example, are very different than pawn shop appraisals, for purchase.

If it were me, I would take all their input and kind of average somewhere in between. I guess it depends what you're looking for.

EDIT: I just took a closer look at your picture and if that's a matching set with matching snare in all original condition, I would agree with you that 2k is low. If it were a Ludwig or Slingerland.. maybe 2k. But, Gretsch always seems to bring a lot more money. And your condition looks exceptional. Almost too nice to be original. I just took a look on eBay and didn't see much in the "195* Gretsch" search

Posted on 13 years ago
#2
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Gary, let me ask you these questions, What Info did the appraiser use? also what is original and what is not original to the kit? But with that said gretsch fanatics are some of the most anal on the planet, I know I'm one of them electricit

Your drummers not much good is he!? What you need is someone that's as good as me. ! John Henry Bonham !!
Posted on 13 years ago
#3
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Gary, the sizes of the drums have a great deal to do with the value of Gretsch drums too. If they are more "standard" sizes...13,16,22, then they are valued less than say, a 12,14,18 kit or even a 12,14,20 kit. Gretsch collectors are fickle people. They will pay through the nose for some sizes/configurations/models, but not others. Take for example, the DIxieland model snare that both you and I own......great build quality, same shell as the "higher end" models, yet because it only has 6 lugs, it is considered a "student" model/ has less tuning capability/"inferior quality", etc. We both know that is not the case in actuality, but because of those public perceptions, they are worth far less than the "top of the line" Gretsch snares to Gretsch collectors.

:2Cents:

Posted on 13 years ago
#4
Posts: 5176 Threads: 188
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Just out of curiosity....

What is the official certification of the appraiser? And how much does it cost for an appraisal? Thanks

"God is dead." -Nietzsche

"Nietzsche is dead." -God
Posted on 13 years ago
#5
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Gary, if you sank $3500.00 of your own money into them, what were you expecting in return? Economy is down, the high price drums that sold were being bought by most who had a turnaround in mind.

I equate the drum market now to the housing market recently. Prices were going up because of certain people that had the cash. Now as things tighten economically, prices are dropping because people need the money. Appraisals will reflect that. Also, I must ask if you were getting an insurance value or resale. Insurance value is higher of course.

Here's a recent auction that on another forum, the posters were saying 3-4 grand and it went for this.

If your appraisal was for all shown in this post, then I would say a bit low considering...

Its better to have people think you're an idiot, than to open your mouth and prove them wrong, unless you doubt yourself then speak away....
Posted on 13 years ago
#6
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The guy selling the G. Champagne turned down 5 offers to sell overseas...........read the question section.

He might have got close to 1K more had he done that! Stupid

"Always make sure your front bottom BD lugs clear the ground!"
Posted on 13 years ago
#7
Posts: 2713 Threads: 555
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The drums were bought new here in Nanaimo BC in 1960 I'm told. I bought them from the previous owner's daughter - the owner died & she inherited them. I paid $900 for the drums, cases, hardware & cymbals. They were stored improperly & I had to replace a bd hoop (eBay) & some of the lugs, the Pratt felt, and some of the internal mufflers. The micro strainer was missing & I found one.....$200 on eBay. I put some calfhide heads on the toms & snare (I've ordered calfhide for the bd - should be here any day).

The drum finish is excellent except for a 1.5" tiny split near a reso lug on the floor tom. The drums are all 3ply except the floor tom (6ply) & they were all bought as one complete kit in 1960.

I sent the appraiser a huge amount of photos via dvd which included a detailed dvd explaining the condition and history as I know it. I include a detailed cover letter in the dvd & a hard copy as well.

The appraisal was done for insurance purposes.

I mentioned Ray Ayotte carefully redid the edges and kept to the original intentions of Gretsch's edges on these drums. I referred the appraiser to my facebook page which includes about 40 or 50 edge photos & Ray Ayotte's comments of work he did. The appraiser made comment to Ray's work in a positive manner so it seems the "edge" work was not a factor in the low appraisal.

Again - I'm not here to 'bash' the appraiser - I'm happy he's out there doing this service & he does have very good credentials. I just thought my drums were worth more.......they sure are to me. There is no way I would sell them for even 6 or 8K.........right now anyway. I could have a change of heart when I down-size for retirement though.....that's coming soon;)

Posted on 13 years ago
#8
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They are lovely drums, but with non original edges and replaced (albeit proper) parts is going to hurt you. Plus, you really can't factor heads into value unless they are the original heads. Also, sizes? what are they?

-64 Ludwig Black Oyster Classic kit 22,13,16
-65 Leedy BDP 22,13,16
-65 Ludwig WMP Clubdate 20,12,14
-66 Ludwig Red sparkle Downbeat
-60's Gretsch RB Green Glass 22,13,16
Lots of cymbals, snares and orphans, old and newish
Posted on 13 years ago
#9
Posts: 2433 Threads: 483
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If the drums are worth more to you then thats whats important here.Drums are not gold or silver trading globally,they,re just memorabilia really.If its your dream set,and i have one to,im just happy to know that I have what I always wanted,regardless of the re sale value,after all,they,re not for sale i assume?

Hit like you mean it!!
Posted on 13 years ago
#10
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