L5CES current prices

[garybaldy]

I'm looking to buy an L5CES.
Looking at Reverb, the price graph indicates prices have dropped considerably in the last few months but here in UK, as well as there not being many available, the asking prices are still pretty high.
Any thoughts please?

[omphalopsychos]

The number of L5CES in existence and therefore the volume of sales over any period of time is very small. This means prices will have a lot of variance. The reverb price chart is based on <1 sale per month. Statistically that’s not enough data for a trend line.

In other words, there’s a lot of variance and no statistically significant trend, so dealers will continue to price accordingly due to scarcity. Just because a handful of sellers sold L5s at lower prices doesn’t mean the “price” has decreased. We’re not talking about a commodity here.

Finally the reverb charts don’t provide information on modifications, finish options, etc. if I recall correctly a few wine red ces that sat on reverb for a long time finally sold in the latter part of this year. Those historically have had lower selling prices.

[garybaldy]

The number of L5CES in existence and therefore the volume of sales over any period of time is very small. This means prices will have a lot of variance. The reverb price chart is based on <1 sale per month. Statistically that’s not enough data for a trend line.

In other words, there’s a lot of variance and no statistically significant trend, so dealers will continue to price accordingly due to scarcity. Just because a handful of sellers sold L5s at lower prices doesn’t mean the “price” has decreased. We’re not talking about a commodity here.

Finally the reverb charts don’t provide information on modifications, finish options, etc. if I recall correctly a few wine red ces that sat on reverb for a long time finally sold in the latter part of this year. Those historically have had lower selling prices.

Thank you

[deacon Mark]

Reverb has zero to do with guitars prices and what they sell for. It is a complete joke. A few folks ask a reasonable price but mostly I see inflated prices that are wishful thinking. Case in point, I see a 1968 L5ces they want $25,000. If you pay that for that guitar you have a much different take than I do on the guitars value.

[John A.]

Reverb has zero to do with guitars prices and what they sell for. It is a complete joke.

That's true to a degree for asking prices, especially for less common items. But if you look at Reverb sold listings and their price guides and then compare that information to asking prices on retail sites (e.g., Sam Ash, GC, various smaller shops), they're generally pretty close. In the case of GC, I know for a fact that the price they'll offer for used gear and the price they'll list it for are both pegged to Reverb. I've both bought and sold gear with them and seen this in action.

A few folks ask a reasonable price but mostly I see inflated prices that are wishful thinking. Case in point, I see a 1968 L5ces they want $25,000. If you pay that for that guitar you have a much different take than I do on the guitars value.

L-5's are a special case -- there are not many of them around, and the buying and selling that's going on right now is affected by collectors speculating on whether Gibson will ever put them into production again. There's bound to be a very large spread, with initially very high asking prices and patient sellers. Also, FWIW the L-5 CES I see on Reverb right now $25.5k is listed by Rudy's, and we all know that Rudy prices the good stuff ridiculously high because he doesn't actually want to sell it.

For most other items, there's a spread of asking prices. If you know how it works (i.e., sellers generally look at sold listings and price guides and ask for some amount above the middle of that, then eventually come down and/or accept lower offers) it becomes a pretty reasonable and logical marketplace. There are still risks from inadequate condition info, flakey people, and shipping, so it's not ideal, but it basically is the guitar market these days.

[hotpepper01]

Reverb prices contain little to none value for you. That is global Reverb only history and you are UK based.

The only price that matters when buying is the price that YOU agree upon with a seller, who is selling you your future L5CES. Everything else is not (so) relevant. Dont forget that since you are not USA based, you probably have to add appr 20-25% on top of the Reverb sale price for S&H, and the import/custom fee. Buying an expensive guitar from abroad ie unseen, is a risky business. Pictures and text may provide enough information about the looks and still not allways tell you the hole story. It will never tell you information about how you like the feel and sound.

[andrew]

There have been several L-5CES guitars sold in the recent past in the $8000-9000 range in the USA on Reverb. Not the "holy grail" years.

I don't know if it's as viable in the UK, but for USA customers buying from a reputable store in Japan can be an attractive option at the moment. The yen is at a 30 year low compared to the US Dollar, so prices can often be lower than domestic stores. And because the guitar is made in the USA, no import duties. Japan does not charge sales tax for exported items either.

[Spook410]

From spectating, looks like $8500 - $10K right now. Takes some patience and having cash ready in case a local sale pops up. You might also consider alternatives. You can get a nice Campellone for a bit less.

As for 'from where', Japan idea is good. Also low risk, reliable online retailers appear to be no more expensive than Reverb. Gryphon is pretty good and my first choice. There are also some broker types in the forum. I've only had one transaction with Hammertone but it went well.

[garybaldy]

Thanks for all your informative replies.
Things moved fast today and I ended up getting this L5CES 2005!!

[omphalopsychos]

Hell yeah!

When it comes to L5, I would be looking for a great guitar more than just a great deal. If you find a good one the value is entirely subjective. I.e. the "market rate" is meaningless compared to what it's worth to you. IMO finding the perfect guitar is priceless. I paid well above "market" for my blonde wes and don't regret it in the least.

[Stringswinger]

When you have a guitar that is super desirable and exists in small numbers like a Gibson L-5CES, there is no actual market value other than what a buyer is willing to pay and a seller is willing to sell one for. It looks liked the OP hit that combination. Congrats! May she inspire your playing for many years to come!

[Bluedawg]

Congrats!! Hope you like your 2005.

I have a 2008 L5CES that I'm quite fond of.

I would take the more recent L5s over a late 60s Gibson myself.

I haven't come across a mid to late 60s Gibson archtop that I actually liked, yet. Thin necks and disappointing tones. Would have to try before I bought one of those.


House of Guitars has a brand new L5WES and a brand new L5 Signature. Gibson has been quietly building these and new ones have been popping up now and then.

Gibson L-5 Signature w/BJB Floating Pickup - Tri-burst | Reverb

Gibson Custom Wes Montgomery L-5 - Ebony | Reverb

A recent Andertons' video touring the Gibson custom shop included new archtops in various stages of construction and the Gibson tour guide discussing bringing them back into production.

[garybaldy]

Congrats!! Hope you like your 2005.

I have a 2008 L5CES that I'm quite fond of.

I would take the more recent L5s over a late 60s Gibson myself.

I haven't come across a mid to late 60s Gibson archtop that I actually liked, yet. Thin necks and disappointing tones. Would have to try before I bought one of those.


House of Guitars has a brand new L5WES and a brand new L5 Signature. Gibson has been quietly building these and new ones have been popping up now and then.

Gibson L-5 Signature w/BJB Floating Pickup - Tri-burst | Reverb

Gibson Custom Wes Montgomery L-5 - Ebony | Reverb

A recent Andertons' video touring the Gibson custom shop included new archtops in various stages of construction and the Gibson tour guide discussing bringing them back into production.

Thank you

[garybaldy]

When you have a guitar that is super desirable and exists in small numbers like a Gibson L-5CES, there is no actual market value other than what a buyer is willing to pay and a seller is willing to sell one for. It looks liked the OP hit that combination. Congrats! May she inspire your playing for many years to come!

Thank you

[deacon Mark]

Great guitar and a prize. They are the number 1 jazz guitar for the world. It began with them and here we are 100 years later and they lead the pack. Enjoy!

[skykomishone]

Congratulations on that L5 CES. It sure is a beauty.

[garybaldy]

Congratulations on that L5 CES. It sure is a beauty.

Thanks