The Logic of Collecting?
 

Can anyone explain to me the attraction of special editions of the large or mid-size manufacturers? I mean, why should anyone get excited by words like "one of only 150" when you could buy a unique guitar by a well-known individual luthier for comparable, or even lower, cost? Extrapolating the rise in value of vintage Martins or Gibsons to these contemporary special editions seems foolish to me.

Some people are simply brand loyal and enjoy collecting items produced by their favorite manufacturers. For most of us, guitars are a hobby...logic isn't necessarily a consideration when it comes to our toys.

It's not limited to guitars. The same issue is common in many other hobbies.

For the same reason people collect limited edition lithographs, coinage, photographs, ceramics, etc. They have an interest in the subject and a hope that the limited exclusivity will turn a profit somewhere down the road.

Bought a reproduction of the original 1939 J-100 made during Gibson's centennial year 1994. There were 100 made and it is probably internally closer to a Taylor than a old Gibson but still it was cool having a reproduction of a guitar that is part of history. It also gives you the ability to maybe get woods that you can't normally get. In my case the fret board was ebony, which I really wanted in a guitar. Don't know of many J-100 or J-200 with ebony fretboards. The ones I don't understand are the incredible prices paid for reproductions of distressed copies of famous players guitars. What is Eric Clapton' cigarette burn worth?
Steve

If you've ever tried to sell a high-end guitar from a small maker, then your question would be answered. The big companies have spent millions on marketing their brand; that brand equity isn't (totally) lost in the resale process.
There's a reason that the Classifieds is full of small-maker guitars in perfect condition, selling for 40% of the original price. I'm sure they are all exceptional instruments, but the brand equity just isn't there.

In every hobby, pastime or avocation that is at all "gear" oriented there's always a sizable market for brand-name products that are:

A) Just Like what all your friends' have (i.e. the right brand...Martin, Taylor, whatever) and

B) Different Than what all your friends have (i.e. different wood or an extra logo or a "#22 of 150" label) in some way or another.

It's because people assign meaning to ownership of certain brands and value a sense of belonging to the in-group who own that brand and at the same time they want to one-up all those other owners for bragging rights with the in-group.

Either that and my father was correct...a fool and his money are soon parted.

When does logic have anything to do w/ guitar collecting?

Try, Desire.

I think it's a combination of the above. People may like a particular brand and the limited edition gives them something unique within a tried and trusted product. The limited edition may also at least hold its value - that was certainly the case with my brother's James Burton Tele - and it will usually be quite a lot cheaper than the small shop builder, which, as someone has already suggested, will probably resell at a relatively low price.

Foolish "to you"...so it's not right for you, but others are entitled to their opinions and spending their money how they see fit.

I have no interest in a small builder guitar, none. While there are some very fine builders out there I love the Martin voicing, I have 50 years of imprinting that sound in the music I grew up with, it has meaning to me.

I'm not a fingerstylist and I don't like modern voicings, the only lutheir builds that would appeal to me are Martin clones so why not stay with the original, that works for me.

As to limiteds and signatures editions, they are never exact copies of standard models, either the woods, bracing, neck profiles, appointments, something is different. I have a few very high end Martins (to me $4K starts high end and $10K starts very high end Martin territory). My OM-45 Taz Blackwood is one of only 29, pretty limited, but it is also the most amazing new Martin I have ever played, that's priceless to me, I love that guitar.

My "logic" is I can afford them, they all get played, many are bought used so I can sell them for what I payed (great "value"), and the truly high enders are a joy to play and listen too.....works for me, no justification needed!

Some of us do it because we like those particular guitars. I'm not sure why it would bother someone...

I look at it this way...the signature or limited edition guitars, when purchased new, are generally not that much more than a comparable model that is not a limited edition. In my case, I am a huge, huge Jimmy Buffett fan. I have the option of getting a D-18V or getting an HD-18JB which is a very similar guitar with a few upgrades, but hand signed, and limited in edition and a collectors item for a few hundred more. Why would I not get the limited edition guitar which is the best of both worlds to me??? That way, I have an awesome guitar plus a collector piece. Bonus!!

This is not to mention the fact that many of these limited edition guitars do appreciate greatly in a short period of time. The DM3MD Dave Matthews guitar routinely goes for 2-3 times its orginal MAP. The Buffett models routinely go for $5k plus. A Gordon Lightfoot model had a street value of $2,500 new and recently went for over $9k on Ebay. The Tom Petty's, Stephen Stills, and many others have also appreciated greatly.

The point being that these guitars are not just collectors items; they are excellent guitars as well. Whether you see the value is for you to decide, but there is obviously a very active market for these instruments. Some might buy them to collect, other might buy them to play. I buy them for both reasons.

The more I think about it, the more true this quote becomes. Really, collecting [I]anything[I] is more about emotion than logic.

There's no logic to it, nor should there be. I don't lust for a guitar because Joe Blow signed it, or played it. I certainly don't buy a guitar for investment, or to be a show piece. I buy 'em to play 'em and yes, gig with 'em. To each his own.

Or just plain fun, if you can afford it! ;)