Inflation

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Inflation

Postby Ken Byng » Sat Sep 05, 2015 11:02 am

Earlier this week I took a phone call from a guy from the Isle of Wight who was looking to sell a Sho~Bud LDG. I asked him about the guitar, and it transpired that it was a round front but unusual with triple raise and double lower. I got him to email me some photos, and the guitar was just immaculate as he hadn't touched it since the 1970's. The guitar had remained in its case all these years. The green colouring was as solid as it was when it was new, with absolutely no fading to brown anywhere. The seller said that he bought it on a whim from Eric Snowball at the Steel Mill in Maidstone. When I got the date of purchase from him I worked out that it was the period when Eric and John Edmed were carrying out a price war on Sho~Buds in the later 70's.

When I finally got down to brass tacks and asked the seller how much he wanted for the guitar, he said he wanted what he paid for it - £350!!!! I asked him twice if he was sure, and he said yes. He said he tried to play it a couple of times and realised that it wasn't for him, and he packed it up in the case and put it in his spare bedroom where it has remained since. He was delighted to get his money back. I went over to the Island on the ferry yesterday and picked the guitar up in Cowes at the ferry port. The case was absolutely mint, and so was the guitar when I took it out. It was a real time capsule job, set up in Day mode. It was a pre- pot metal job with teardrop knee levers (3 + 4). I gave the guitar a real going over with a teflon-based lubricant when I got it home, and it played superbly. More importantly the tone was to die for. Those big old round fronted 'Buds are great - Lloyd's guitar is indeed a round front. The receipt for the guitar was still in the case.

I rang one of my young pupils last night who has been using guitars from my own collection when she comes to me for lessons. I asked her if she would like to buy the guitar for what I paid for it. She nearly snatched my arm off. So, it is finally going to a home where it will be used and appreciated. I was trying to work out what £350 would be worth these days after inflation, but gave up. So, this bargain of the year has made 3 people very happy. :D
Last edited by Ken Byng on Sat Sep 05, 2015 11:37 am, edited 2 times in total.
Show Pro D10 (amber) 8 + 6, MSA Signature XL D10 (redburst) 9 + 6, Sho~Bud D10 (sunburst) Pro 111 8 + 6, Emmons D10 Push Pull - (black) 8+5, Zumsteel D10 (blue) 8 + 8, Hudson pedal resonator, 10 string lap steel. Telonics, Peavey & Webb amps,
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Re: Inflation

Postby e9b6 » Sat Sep 05, 2015 11:08 am

£350 in 1971 accoring to the website historic inflation is worth today




4,839.69



Colin
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Re: Inflation

Postby Ken Byng » Sat Sep 05, 2015 11:12 am

Wow - that was quick. Thanks Colin.

So going back to the 70's, £350 was still a sizeable investment in a musical instrument.
Show Pro D10 (amber) 8 + 6, MSA Signature XL D10 (redburst) 9 + 6, Sho~Bud D10 (sunburst) Pro 111 8 + 6, Emmons D10 Push Pull - (black) 8+5, Zumsteel D10 (blue) 8 + 8, Hudson pedal resonator, 10 string lap steel. Telonics, Peavey & Webb amps,
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Re: Inflation

Postby Danny Mitchell » Sat Sep 05, 2015 12:22 pm

Nice one Ken, that's a good news story if ever there was one. I hope that beauty inspires your young pupil.
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Re: Inflation

Postby nevada150 » Sat Sep 05, 2015 2:27 pm

Hi Ken,
You're a real gentleman. There are not many people who would do what you did rather than make a handsome profit for themselves. I hope your student realises how lucky she is having a good tutor and an honest man.
Regards.
Keith. :guitar:
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Re: Inflation

Postby Ken Byng » Sat Sep 05, 2015 2:42 pm

Thank you Keith - your kind words are much appreciated. The young lady concerned came with her dad an hour ago to collect the guitar, and could barely contain her excitement. I think they both knew that they had been lucky. I did ask them to promise not to sell it on for a hefty profit, but they were adamant that the guitar is a keeper. I'm happy. :D
Last edited by Ken Byng on Sat Sep 05, 2015 2:43 pm, edited 1 time in total.
Show Pro D10 (amber) 8 + 6, MSA Signature XL D10 (redburst) 9 + 6, Sho~Bud D10 (sunburst) Pro 111 8 + 6, Emmons D10 Push Pull - (black) 8+5, Zumsteel D10 (blue) 8 + 8, Hudson pedal resonator, 10 string lap steel. Telonics, Peavey & Webb amps,
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Re: Inflation

Postby Zumbilly(Murdoch) » Sat Sep 05, 2015 2:43 pm

Well done Ken. There are few,if any, who would have done the same as You.
Best regards
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Re: Inflation

Postby Jif » Mon Sep 07, 2015 9:41 am

I'll have two of these ;)

Nice gesture Ken :)
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Re: Inflation

Postby jonshack » Tue Sep 08, 2015 1:26 pm

Wow, I'm about as green as that guitar right now :mrgreen: :mrgreen: :mrgreen:
That was really a very nice thing to do Ken, good for you.

Jonathan
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Re: Inflation

Postby Nick Bidmade » Wed Sep 09, 2015 5:51 pm

Great story, and a great outcome - one lucky lass and a very generous gesture, Ken.
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