LLL
New member
In 1959, a Les Paul Standard cost $295 (add case + $42.50). A Les Paul Custom $395 (add case + $47.50). See link below for price 1959 price list.
https://forgottenguitar.com/2016/02/...ist-from-1959/
What's the inflation rate from 1959 to 2021? From the site link below: The dollar had an average inflation rate of 3.64% per year between 1959 and today, producing a cumulative price increase of 817.71%.
https://www.in2013dollars.com/us/inflation/1959
According those numbers:
$295 in 1959 is worth $2,707.25 today (2021)
$395 in 1959 is worth $3,624.96 today (2021)
I'll add in the case to the price:
Standard w/ case: $337.50 in 1959 is worth $3,097.28 today (2021)
Custom w/ case: $442.50 in 1959 is worth $4,060.87 today (2021)
Based on those numbers, today's MAP prices for non-Custom Shop models are not far off. In fact, a GoldTop Les Paul Standard today runs $2499 w/ plush case.
Maybe the bigger question to ask is this, "Is the Custom Shop necessary?" I mean, their prices are high (Fender's aren't far off either in certain instances), and with the regular production line of Standards and Customs priced where they are, why have a Custom Shop? Certainly it's not necessary.
pcorn:
And yet, there are other product categories out there whereupon what you would pay, say, $5000 for back in the 80s (my first computer IBM PS/2), you get an incredible amount of value for the same price ($5000) today (killer rig) due to much improved performance (Moore's Law for one). The new PC outperforms the old by so much, it's miles apart... therefore incredible value for the same face value price.
The other point of course is Gibson can price their goods by loosely following inflation year by year all they want to (which it appears they do to some degree), but the fact is the average worker's wages, year by year, are not commensurate with said inflation.
The purchasing power of the dollar has steadily decreased since 1913.