Was this a good investment?

Galymcd

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Howdy, guys. So, in a pawn shop, I found a 2002 Custom 24 PRS. I bought it for $1109 minus tax. A few pock marks, noticeable ones on the neck, but only minor wear overall. Tremolo arm is missing, pick ups are Gibson USAs. Case is original, comes with tag.

How did I do? Will it appreciate in value? I was thinking that putting in some Dragon II pickups might help it preserve it's value a little bit more. What do ya'll think? I have until Wednesday to return it, just in case.
 

wardog

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Value is subjective, depends on market demand. But, there are things you can do to get it more bang in the value area.

First, We like pics, that will help us in seeing what you got and if we think it was a good deal.

Second, wear can be a value plus or minus depends on market, but if you want it back to factory luster, then PTC is the way to go.

Third, Tone is also subjective, if you like the sound of the gibson's in there then leave them in there. If you like PRS pickups better then first put in the same type the guitar had from the factory. it being a 2002, there will be a serial code called a MODCAT in the bridge pickup cavity. That code can be used to determine the guitar specs, which will tell the pickup type that was in it. Hopefully you like the type and the tone it delivers, Otherwise find the PRS pickup you like, say like a 59/09, then put those in it.

Fourth, if this guitar is a purchase for future gain in value, then return it. My honesty opinion!!! Why, because again value is based only on market demand, and in the guitar resale world, from my experience; only the higher end models hold higher resale values.

Again, my opinions as I answer your questions.
 

watelessness

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As far as investment goes, no, it's not an investment. Musical instruments are not investments; they're tools.
 

Huggy B

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Like the others mention, PICS, but a simple answer is: If you restore the pickups to any PRS stock ones and professionally fix the dings in the neck it will be worth market value, depending on the top & tone being pretty good. Trem arm is easy purchase, the frets are the biggest factor on a 13 year old instrument.
 

LJD

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Not all-original is a factor. But really, (with few exceptions) it's never a good idea to look at a guitar purchase as a financial investment. Sounds like a good bargain though.
 

AP515

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First, you got it for a good price. They are usually more.

Second, the Gibson's make it a little "funny" for future buyers, but it isn't hard to put the HFS/Vintage back in.

Third, you should be able to get your money back, but it probably won't appreciate in value much until the year 2052 or so...
 

Galymcd

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http://i.imgur.com/mXdCEzL.jpg
http://i.imgur.com/bNOUX9O.jpg
http://i.imgur.com/KTjBuSP.jpg

Here they are... I hope they show up.

Third, Tone is also subjective, if you like the sound of the gibson's in there then leave them in there. If you like PRS pickups better then first put in the same type the guitar had from the factory. it being a 2002, there will be a serial code called a MODCAT in the bridge pickup cavity. That code can be used to determine the guitar specs, which will tell the pickup type that was in it. Hopefully you like the type and the tone it delivers, Otherwise find the PRS pickup you like, say like a 59/09, then put those in it.
Wardog, I don't really like it. It sounds kinda murky, frankly. I may just see what original pickups it had, or maybe throw in some Dragon IIs.

As far as investment goes, no, it's not an investment. Musical instruments are not investments; they're tools.
So those 50's Strats aren't worth
thousands of dollars? Not saying this PRS will be like that, but some guitars do go up in value. I've known people that helped put themselves through college like that.

Like the others mention, PICS, but a simple answer is: If you restore the pickups to any PRS stock ones and professionally fix the dings in the neck it will be worth market value, depending on the top & tone being pretty good. Trem arm is easy purchase, the frets are the biggest factor on a 13 year old instrument.
The frets have wear from the strings, but otherwise seem fine. Could use some minor re-leveling.

Thank you guys for your advice. Check these pics out and see for yourself. I don't expect it to go up in price for a while, sure, but will it retain market value if I spruce it up a bit (Put in original pick-ups and tremolo bar, repair frets, etc)? If you guys need pics of anything more, lemme know.
 
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CVS

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Play the heck out of the guitar (love it and maintain it) and if the guitar goes up in value with the passage of time, you will be one of the lucky ones. I second all the opinions of Wardog in his thread above.
 

wardog

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It looks very nice from the pics. I believe it may have had vintage bass and HFS PRS pickups. Very nice picks. To give it a more updated look, try to find the squabbin style versions.

Question, is that a satin finish on the top or is that the pic quality?

Edit:

After looking at the control layout, dragon II pickups may have been in there.
 
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vchizzle

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You got a good deal. Investment wise, tough to predict 40 years out what will be valued high. Obviously, the 1st few years, say '85-87 will have a good deal of value. Original parts are important when it comes to investment. Should say on the hang tag which pickups came with it. In general, guitars aren't good investments.
 

Galymcd

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It looks very nice from the pics. I believe it may have had vintage bass and HFS PRS pickups. Very nice picks. To give it a more updated look, try to find the squabbin style versions.

Question, is that a satin finish on the top or is that the pic quality?

Edit:

After looking at the control layout, dragon II pickups may have been in there.

It is a red color, and I think it is Satin, but I'm not good with color names.

Okay, so important question. Today is the last day I can return it. I like it, but will it retain it's value? I don't mind if it doesn't appreciate, but I don't want it to depreciate either
 

twbuff

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Although I do not contribute much, I do read most of the posts and agree that, if you think of this as an investment you will probably be disappointed. Take it back and buy a CD - money market, not guitar!! - and let it go at a good time was had for a few days. It will probably not appreciate nor depreciate enough to cover anything other than your thrill of playing. I have clarinets, saxophone and flute that I have owned for ages and they are for my use, not as investment options.

Return the guitar and avoid the upset of the "what if?" thoughts.

My 2 cents
 

rugerpc

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Here are a couple of basic questions I think you should consider.

Do you play guitar?
No - return it now. Most musical instruments are not good investment vehicles.

If yes, do you like this particular guitar?
No - return it now. Most musical instruments are not good investment vehicles.

If yes, play it and concentrate on the next question.

Do YOU feel the price you paid works for how much you will play this guitar?
No - return it now. Most musical instruments are not good investment vehicles.

If yes, play it and stop worrying about its value.
 
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Watersilk

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Here are a couple of basic questions I think you should consider.

Do you play guitar?
No - return it now. Most musical instruments are not good investment vehicles.

If yes, do you like this particular guitar?
No - return it now. Most musical instruments are not good investment vehicles.

If yes, play it and concentrate on the next question.

Do YOU feel the price you paid works for how much you will play this guitar?
No - return it now. Most musical instruments are not good investment vehicles.

If yes, play it and stop worrying about its value.

Hahahaha! This is brilliant advice! I remember being in shock for a week after buying a Les Paul 59 Reissue, many doubts...... Still trying to get some decent sounds out of it......
 

LJD

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I'd like to hear how someone was able to purchase a guitar in order to put themselves through college.
 

LSchefman

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Guitars are musical instruments, not investments.

Most of them will not appreciate in value, and most will go down in value over time, no matter what the brand, unless they become highly sought after because they were made in very low volume, or because some future rock star uses one and becomes known for it.

So the question of whether you should keep it or not answers itself depending on why you're buying it.
 

garrett

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Good buy, yes. Good investment, no.

Like a lot of other things, there are just too many of them to be particularly valuable. The Custom 24 has been in production 30 years now. If it's going to appreciate, you'll need to wait another 30 years or so for it to pay off.

As an investment, you would want something from the Virginia Ave factory. The older, nicer and more original, the better. I'd say '91 or earlier so it will have the Brazilian rosewood fretboard. I think those guitars will have a similar cachet to pre-CBS Fenders or 50's Gibsons.

Looks to be Scarlet Red. No 10 top, which knocks off a little value, but it looks sharp. I hope you keep and enjoy it.
 
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