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Originally Posted by sgcim
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09-24-2019 09:42 PM
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Originally Posted by MarkRhodes
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And here's a chart of the first 8 bars posted by Jay himself.
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Originally Posted by MarkRhodes
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Originally Posted by MarkRhodes
His music production skills were incredible! If you take a record that had nothing to do with Fagen, and that WB didn't write any of the material, he could work wonders.
A good example was the album he produced by the band Sneaker (named in honor of 'Bad Sneakers'). They had one great song, and the rest of their stuff was just okay, but Walter made them sound like a million dollars.
Fagen and Becker were intensely close friends from the time they met at Bard, and I don't think Fagen would've gotten very far in the biz without WB's help. Fagen had already tried to make it in LA (he stayed in the same communal living situation that Louden Wainwright did), and he got nowhere, so he went to Bard, where he was a Lit. major, and met WB.
After DF graduated, they got that gig with Jay and the Americans, and then a songwriting gig where they met Katz, and the rest is history.
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On the auction: Some of those prices aren't above general used market value. Some of the Sadowsky strats for instance. I wonder whether they've priced below expected bidding on purpose or if the auction house truly believe that the lesser known items won't carry an extra celebrity owner price?
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Originally Posted by Average Joe
There are going to be many deals to be had. It happens when supply is way higher than demand (1000 items, most items above $1k). How many people are going to want a Swart amp, have the dough, know about the auction, and either are willing to bid ahead of time or remember to logon during the live auction? And there will be 8 of them available within a 10 minute span. 4 people may fight over the 2nd one while nobody fights for the 4th one.
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Originally Posted by HeyNow
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Originally Posted by sgcim
I think this sounds a lot more like Steely Dan than some of Fagen's solo work. (For the record, I prefer Fagen's "Kamakiriad" to some Steely Dan albums. I even prefer it to "Nightfly" though the latter is the more adventurous record.) But if you think "this is Walter without Fagen," well, this is pretty damn good, and I think if Fagen sang it, it would be fantastic! ;o)
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Originally Posted by Litterick
Simply not feasible to keep an eye on 'the market' when they sell such a wide breadth of items. People who track just a small number of items will tell you how time consuming it is.
Since you wrote in such certainty - please tell me what they look at to determine their guitar gear estimates? I'm ready to tell you why your view is limited.
Originally Posted by Litterick
On the flip side, the auction house's estimate sets perceived value.
1) if the bids start going near/over the low estimate, people could think they are over-paying and stop bidding
2) if the auction house puts a high estimate on something that has no existing market outside the auction (in this example, Walter Becker owned gear) - a bidder may make a bid thinking they can get a steal on a high value item. For example, if the auction house puts a $10k premium on a concert-played guitar (something that has very subjective value), a bidder may put in a bid for a $5k premium over normal price thinking he/she won't win it as an "expert", the auction house, has put a $10k premium. If the auction house doesn't tout a premium, then buyers may not.
It's not a one way street.
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Originally Posted by MarkRhodes
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Originally Posted by HeyNow
I used to work in the art world, so I know a little about auctions. I know that auction houses, to keep interest alive during a long auction, will offer offer lots with low estimates; they know these items eventually will be knocked down at a far higher price, which creates excitement: an auction is a performance. Excitement encourages other bidders to step up; people want to buy, to be part of the action. The low estimate will have attracted bidders before the auction; they get swept up in the excitement and pay more than they would. The estimate doesn't matter to the auction house: it is not a promise. It only becomes a liability when it is too high. Other estimates will be more realistic, because they don't want to look ridiculous.
If you want an example of a low estimate, look at Lot 252: a 1980 Gibson L6-S, estimated at $500-700. I watch the L6-S market, and I know they sell for about $1800. The auction house could easily find that out by looking on Reverb. I am sure they don't really believe that a guitar owned by Walter Becker would sell for so much less than an equivalent that belonged to Walter Nobody.
They know what they are doing. Auction houses are like casinos. They don't win all the time, but they win more often than their customers. Sometimes, lots go for just over the reserve; or they don't go. But most times, they will go, at a good price.
Anyway, the auction is on 18th and 19th October. We will find out then whether the auction house got it right.
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Low estimates likely also indicate that Julien's is trying to liquidate a lot of gear in a short amount of time, not to hold on to it for however long it takes to command premium price. As Litterick has suggested, they just have to work percentages in their favor; some people will get a bargain and some will pay too much. That's the nature of an auction.
I would not be surprised if a lot of this stuff turns up on eBay - and stays there for a long time - in coming months. Undoubtedly the auction will attract people who are willing to sit on an investment long enough to make a profit. And people who will try to resell for too much regardless of whether they paid too much. eBay and Reverb are full of overpriced guitars right now.
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Originally Posted by starjasmine
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On GAS, maybe it's because I have limited practice time due to a very busy non-music career, but it stresses me out to have any instruments that I don't play with some regularity - like at least every couple of days. I definitely seem to experience my most productive practice periods when I am just focused on one guitar. Usually that's my laminate 16 x 3 archtop - call this my jazzbox. When my next jazzbox arrives in 2020 and if I decide to keep my current jazzbox, the current jazzbox will become my office guitar. Having two "no. 1 guitars" under one roof would drive me crazy!
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An article about the auction in Forbes online, of all places. Brief and shallow, a lot about the benjamins cuz its Forbes, but some tidbits and photos, just fyi. Guitar Collection of Steely Dan’s Walter Becker Rocks The Auction Block
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I saw the hardcover, full color and glossy papered book of the upcoming auction. That's right, a book. It was a beautiful catalog of every instrument and piece of equipment in the auction. I didn't know they did something like that. Each piece has a beautiful picture, a description and estimate of its value. After talking with the guys who did the appraisal and looking thru the book I'm looking forward to viewing the auction.
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The Executive Director of Julien's Auctions is on the radio. They are selling Kurt Cobain's cardigan, unwashed. Their estimate is $500,000. The auction will be at The Hard Rock Café in New York City.
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I'm an amp junkie and was fascinated by the catalog. General my thinking on amps is based on their categories, of which there are three: Have One, Had one, and Want One. I was a little surprised at how many fit in multiple categories!
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What a ride!
I bid on all sorts of things of interest to me, in the hopes that at least some of it would fly under the radar, given the size of the collection.
No such luck!
I suspect the estate of Walter Becker is quite pleased with the results of the auction.
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Originally Posted by Hammertone
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A wild ride indeed. Boy did Julien's move some merchandise today! Missed out on one item that I had been lusting after for days. Actually had it for about 10 seconds before getting outbid at the end. I went $200 over my limit but ultimately the lack of info about the condition of the amp caused me to not go all in. When you factor in the 25% Buyer's Premium, the 3% Online Service Fee, the 7.25% CA state tax, plus shipping and insurance, I'm not sure how many deals were to be had. I hope someone here was the lucky winner. Cheers.
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Originally Posted by losaltosjoe
I'll go through the whole list at some point when I have insomnia, but there were certainly no deals on anything that interested me. :^(Last edited by Hammertone; 10-18-2019 at 09:00 PM.
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I also watched up to lot 360 - no bargains. Prices on many guitars and amps sold “at” or over market value before factoring in the buyers premium and taxes.
I was on the phone with Juliens yesterday going over several guitars - but only a few were worth the realized price. What the auction did reveal is that both Gibson and Martin continue to hold their value.
I watched on my iPhone - and the auction was conducted beautifully with excellent video / audio - providing a great off- site experience.
I must say - the complimentary catalog I received was actually a very heavy high quality coffee table hard covered book.
First class representation and a very helpful accommodating staff.
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I didn't bid but was waching the 1940 Gibson L-5P.
It sat @ $4500 but jumped to 12.8K @ the finish. Not the cleanest example and when you figure in the fees, not the best deal in the end.
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I had my eye on the Froggy Bottom H12 which went for $5,120.
But add the buyer's premium, online fee, shipping, Canadian dollar, and Canadian tax and fees and that guitar is $10643.00 CDN. Ouch
I can buy equivalent high end guitars by Santa Cruz, etc. here for less.
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