Monday, August 18, 2008

Summit Recap Post 3 - Purchasing an Instrument - Jonathan Solars

Condition's importance is in resell
-Good to get 2nd opinion sometimes


Famous appraisers
Violins - Charles Beare, Jim Warren, Bob Bine (dead)
Bows - Milan, Isaac Salkow, Fancois Rafeu, Paul Charles (top end bows)

Hill - 1800 -1940
Werlitzer - 1965
France - 1978
Diatilli - 1970s?


Certificates should never be a contingency of sale
-Adds value (3rd person affirms identity)

5 factors of pricing:
-Timeline of Maker's life


Trade-ins won't always give you actual value
-You should know the asking price for the instrument you want to buy prior to trade-in
-You should disguise your asking price
-Dealers don't like trade-ins of low end instruments

-It's to the buyer's advantage to know how they're going to pay
-dealers always expect people to negotiate
-dealers love cash. It equals huge levarage
-Large amts. w/ credit cards can be a problem
-Dealers have to pay merchants

Philip J. Kass - Great violin consultant

NEVER go to another dealer for apprasial
-Also, some teachers get kickbacks from dealers

Don't give in to pressure/if you're uncertain
-in order to make any profit reselling, you cave to have instrument for at least 5 years
-Instruments appreciate 6-10%. Rare instruments appreciate up to 15%

Jackie's Davydoff waas 90,000 when she got it - today it's 15 million (1,646% return)

Instrument investment is gaining popularity

There's a surge of demand in new instruments
-Muntovich in particular (Stern's violin)


Insurance: Always get specialized instrument insurance
-full coverage (as opposed to other types)

Total Dollar Mangement Effort limited is a great insurance company

The only case that *might* be able to survive a plane is Kolstein's, which is just over $2000 - just buy a seat


-Xylen is a great cleaner
-Use pros to clean
-Take in to shop twice a year to check for cracks/open seams & for soundpost adjustment

He recommended Renee Morel - 250 W 54th - 212-317-7224

Watch out for Auction Houses...

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