Re: The old man almost crapped himself yesterday!!!
Boogie Bill, it's certainly devalued, but by $2,000? The whole guitar probably isn't reliably worth a whole lot more than that.
Well, here's my thought on that.
Les Pauls from 1978 are not rare, by any means. But lately, I'm seeing nice, well-cared for Customs from this era getting up into the mid $4000 range, as they become "vintage".
Yes, he can get it fixed, and depending on the skill of the luthier and the type of break, it could be a nearly invisible. But it will still be a Les Paul with a broken headstock. Some buyers wouldn't care if a Gibson has a broken headstock (I have two Supremes with breaks), while most player would prefer to have one that is unbroken. Since there are quite a few of this model out there for sale, a guitar with a headstock break is going to be treated severely in the market place.
A truly vintage piece, like an original '59 Sunburst, with a h/s break will hardly be discounted, as the vintage bursts are so rare. But with so many of the Seventies-era guitars available, a buyer can be more selective, and that will drive the price down on broken guitars.
A lot depends on the area, but I can make a case that this broken Custom has been heavily de-valued.
BTW and FYI--your homeowner's insurance policy MAY cover an incident like this, but not likely. If you've EVER made money with your gear, many insurers will consider it personal business property and not cover the loss. Check with your agent--you may need a special rider, or a specific insurance policy to cover your instruments and your gear. Look for an "all-risk", world-wide policy. You'll want to have the instrument covered no matter where you go--for fire, theft, flood, quake, tornado, etc.--for any risk, including "unnamed perils".
Bill
