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I was just alerted to this story. This is pretty big news in the vintage and rare guitar world. The business, along with Norm’s entire collection, has been acquired by the company that also owns Carters.
Norman’s Rare Guitars has been acquired | Guitar World
Keith
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01-14-2026 08:20 PM
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That is a big deal, when he had his health issues I figured it was a matter of time.
I wasn't aware Carter was already sold, I wonder if Gruhn isn't far behind, George is getting up there.
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End of an era. Things won't be the same.
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Well, I hope they don't end up acting like just another venture capital takeover of a respected business and then run to the ground, sell off the assets and bankrupt the business to write that off against the taxes. That would be really sad to see.
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This would seem to be an understatement, but this news is sad.
Originally Posted by Stringswinger
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TNAG isn't a venture capital firm. VC generally funds startups and early stage ventures, with a planned exit as more capitalization comes in and the business gains equity value. The venture capitalist gets a return on investment in stock or other equity instruments. TNAG looks to me like a private equity backed holding company. PE buys full ownership (or in some cases the controlling interest) in mature businesses and makes its money from "streamlining" them and making them more efficient (almost always euphemisms for reducing costs and increasing revenue). This usually means aggessive efforts to reduce staff levels, employee benefits, overhead, supply costs etc. When multiple entities are combined, it seeks economies of scale and consolidation of resources. Originally Posted by Cunamara
Although I know nothing about them at all, the family that owns TNAG seems on the face of it to be genuinely dedicated to building a new platform for buying and selling high end guitars. If they have external backers, they'll have a day of reckoning if things don't go as planned - PE investors expect a return and are only patient if things go as the business plan and projections they bought into actually happens. If it's all their own money, and they can weather the inevitable storms, it may work out fine for all. I assume they know something about these instruments. It's hard enough to sell high end guitars when you provide great service and customer support. There's no way they could reduce it all and expect to move their inventory any faster than it was moving before and at even higher prices. So a quick profitable exit semms to me to be an unealizable goal. My bet is that they'll try hard to create what's described in several industry publications as their concept of an " 'instrument management system', The Exchange, which is described as a 'fully integrated environment to buy, sell and consign legacy instrument brands, in-store and online' ”.
I wish them well. But it seems like a long run for a short slide. Maybe they'll come up with an AI staff that can interact effectively and accurately with their customer base. They'lll have to use predictive analytics to properly and accurately price their wares, estimate how and to whom they should market each one, predict how long it wil take to sell each one, and how / when / how aggressively to change asking prices based on time in inventory and time to sale for prior examples of the same instrument.
Well done and well intentioned PE efforts can work out very well for all. In my experience, that's a minority of them. The streamlining is more often than not the kiss of death, and they end up losing customers and employees until they either go broke or find a bigger fool to buy them out. This one reminds me of another PE backed adventure in guitar land - Henry J and Gibson. Let's hope TNAG does it better.
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George is 80 but goes in each day. I give credit and hope he does not sell out. George is different but has always been good to me. Besides he keeps a lot of the snakes at the store. Got to watch them for sure, they are his buddies. The only guitar store that needs new strings on hand and frozen dead mice/rats. Feed the guitars and snakes. Originally Posted by wintermoon
Last edited by deacon Mark; 01-15-2026 at 03:13 PM.
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Don’t forget the shop Cat, whose name escaped me. Surprising they have any mice around there with that cat. But he seemed pretty lazy. Originally Posted by deacon Mark
I don’t know much about their operations, but it’s possible that some of their staff could take over the business once George leaves.
That happened to a local store in town (Lidgett), where the manager took over after the owner died somewhat unexpectedly from pancreatitis.
He kept the name, and seems to be doing as well as ever.
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Norm's prices have been rather dramatically high. There are many guitars that have sat around for years without moving. If the new owners are actually looking to sell guitars, maybe they'll consider lowering prices?!?
Who knows, crazier things have happened.
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I remember when Norm's Rare Guitars was a hole-in-the-wall on Tampa Avenue. After some time he moved two doors up the block to a larger space at the corner of Tampa and Sherman Way. Norman always treated me respectfully the few times I was in his stores, including the current location on Ventura Blvd.
I have it on reasonably good authority that the source of Norman's wealth is that his wife's family held the patent on margarine at one time. So, apparently, he married well. That aside, an eminently decent dude and a heckuva piano player to boot!
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This a absolutely a sad news
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I suspect that Norm's will carry one, with Norm popping to hold court for the next little while. I spent some time there while playing hooky from NAMM, and it's very much business as usual. Some lovely archtops on the floor, Norm being interviewed, and so forth. The '39 S-400N is great, but the '42 S-400P is a jaw-dropper, IMO, and in ridiculously good condition.
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“The goal has always been to share my love of great guitars with the community, and this partnership allows that community to grow, while protecting everything that makes the shop special. I feel a deep sense of comfort knowing the shop, its history, and its values will still be here for future generations of my family and for guitar lovers around the world.”
According to TNAG, the nitty-gritty of the deal includes, of course, the store's 1,000+-strong guitar collection, and, notably, Harris’ personal and private collection. The store itself, TNAG says, will continue to operate in its current physical location, “with its team and culture remaining fully intact.”
Nightmare.
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Well, we can only hope that they'll make it work. Norm's is an institution. Gotta say though, looking at the price tags, those are some crazy ass prices as far as I'm concerned. But what do I know, if they're selling them at those prices then I guess it's not crazy and maybe my sense of guitar values is skewed.
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I wish I had known. I live about 2 miles from Norm's. Would have been grand to meet you. Originally Posted by Hammertone
Phil
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My experience with Norm's it that the prices are a starting point for those who wish to negotiate more favourable terms. Originally Posted by Cunamara
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