# WTB - Your guitar... ?



## crann (May 10, 2014)

Here's a hypothetical question, as well as a legitimate inquiry. I'm not sure how many of you are into cryptocurrency, specifically bitcoin and ethereum, but I'm wondering if anyone would accept either as a form of payment for your guitars, etc.

Looking forward to hearing a variety of responses, and I know this isn't the best area to post, but consider it a FT ad.

- Danny


----------



## Fred Gifford (Sep 2, 2019)

the answer would be an absolute no.


----------



## Doug Gifford (Jun 8, 2019)

It's better to do nothing with your money than something you don't understand_. 
Suze Orman_


----------



## Sneaky (Feb 14, 2006)

If I get your bitcoins at the same value you paid for them, I’m in. Even if you bought them last week.


----------



## vadsy (Dec 2, 2010)

for certain guitars, yes. something I could afford to lose in a gamble.


----------



## Mikev7305 (Jan 6, 2020)

Hell yeah. Society is going cashless sooner than later. Govts can't keep printing money and expect it to be worth a damn for much longer.

Plus the guitars I would be selling aren't worth much anyways. Maybe the sale price would equal $0 in a few years, or maybe it could be worth $4000. Worth the gamble to me


----------



## crann (May 10, 2014)

@Sneaky what if I bought them at $34608 usd?


----------



## crann (May 10, 2014)

@Doug Gifford a few issues with Suze: 1. Most people don't understand how an etf/mutual funds works in general but I guarantee she would recommend investing in those 2. She says you need at least $5 million usd to retire.


----------



## Stephenlouis (Jun 24, 2019)

No, I like currencies ( including stocks bonds ect) I'm comfortable with or trades. Perhaps in a few more years, or if I was 25 years younger.


----------



## Sneaky (Feb 14, 2006)

crann said:


> @Sneaky what if I bought them at $34608 usd?


That wasn’t last week.


----------



## Wootang (Oct 6, 2020)

Sneaky said:


> If I get your bitcoins at the same value you paid for them, I’m in. Even if you bought them last week.


Lol op should just pull some out and buy a guitar in fiat. Hedge some of your crypto exposure with a nice, stable custom shop asset 😃


----------



## gtone (Nov 1, 2009)

There are potential risks involved with crypto-currencies that don't feel right with my gut. I relied on those gut instincts for 27 yrs as a financial advisor and wealth manager and they served me well during that period and thru the intervening yrs since I retired at 55. Just can't be comfortable with them as such...


----------



## crann (May 10, 2014)

@Wootang ethics around tax evasion aside, once that money hits my bank account I owe someone something. CRA has also made it somewhat complicated, making transactions either income or capital gain based on loose definitions. Anyways, someone on CNBC said 2021 is going to be a big year for custom shop fender's (TSX:CSF) so I'm looking to get in.


----------



## 59burst (May 27, 2010)

If I’m selling gear, I’d accept Bitcoin or Ether.


----------



## Tarbender (Apr 7, 2006)

So here in the "Guitars For Sale, Trade or Wanted" , no one is actually buying, just being hypothetical?


----------



## crann (May 10, 2014)

@gtone fair enough. I'm no evangelist for this stuff and I wouldn't push it on anyone who isn't comfortable with it.


----------



## crann (May 10, 2014)

@Tarbender I would have bought your Vinetto if you accepted my payment method.


----------



## tele (Dec 18, 2011)

I'm trying to think of a legitimate scenario that would necessitate the use of crypto-currency in a guitar transaction... still trying.


----------



## Stevie007 (Aug 14, 2017)

I’ve got a G&L ASAT Classic in translucent orange. Great guitar. Want $1200


----------



## Stevie007 (Aug 14, 2017)

Here are pics. G&L ASAT Classic Telecaster


----------



## nonreverb (Sep 19, 2006)

No...


----------



## Diablo (Dec 20, 2007)

crann said:


> @Wootang ethics around tax evasion aside, once that money hits my bank account I owe someone something. CRA has also made it somewhat complicated, making transactions either income or capital gain based on loose definitions. Anyways, someone on CNBC said 2021 is going to be a big year for custom shop fender's (TSX:CSF) so I'm looking to get in.


whats the benefit to the seller?

it sounds like all risk to them in order to help you skin a few bucks from the taxman.

The risk reward scenario for a seller is not great unless theyre having a hard time moving their gear and youre offering top dollar (doesnt seem likely, no offense), or taking the opposite side of the argument, maybe I want to stick you with something I dont want any proof you paid for  ie counterfeit, stolen.

Any time youre in a deal you always have to think from their position WIIFM, because you know thats what theyre thinking. If you cant come up with a good answer, youre wasting your time.

personally, i'd only consider it for a small value and from someone im acquainted with or has a reputation, store front, etc...still seems like more trouble than its worth. someone i can find if I need to make things right. Some Kijiji rando or 45 post member may as well be a Nigerian prince.


----------



## StevieMac (Mar 4, 2006)

crann said:


> @WootangAnyways, someone on CNBC said 2021 is going to be a big year for custom shop fender's (TSX:CSF) so I'm looking to get in.


If you're "looking to get in" on some analyst's anticipation of "a big year" for Fender CS, how is acquiring _used_ gear an investment strategy within that context? I assume CNBC's prediction was limited to investment in TSX:CSF _stock_ and not the used gear market. I must be missing something here.


----------



## Strummer70 (Dec 12, 2018)

Why is this thread in this forum?


----------



## crann (May 10, 2014)

@StevieMac It was a joke, Fender is not a publicly traded company. A poster made a joke about hedging with a CS strat and I answered with a joke.


----------



## StevieMac (Mar 4, 2006)

crann said:


> @StevieMac It was a joke, Fender is not a publicly traded company. A poster made a joke about hedging with a CS strat and I answered with a joke.


Confirms I was missing something then: a sense of humour.


----------



## crann (May 10, 2014)

@Diablo I get what you're saying, but if we look at everything at its monetary value, trading is the idea that the current value lines up. Howard Leese talks about trading his pickup truck for a 59 burst in the 80's. Likely many people thought Howard was crazy at that time, but he made out pretty well on that deal.


----------



## crann (May 10, 2014)

@StevieMac no worries! I wonder how many of us would have bought Fender stock back in 2012 if they actually went through with their IPO


----------



## Doug Gifford (Jun 8, 2019)

crann said:


> @Doug Gifford a few issues with Suze: 1. Most people don't understand how an etf/mutual funds works in general but I guarantee she would recommend investing in those 2. She says you need at least $5 million usd to retire.


Perhaps, but the advice about avoiding investments you don't understand seems pretty sound.


----------



## skeetz (Mar 26, 2014)

Maybe I’m old fashioned - but all I can say is - if you are doing well with your bitcoins....cash in a few and buy my guitars with the cash. A “no nonsense Win/Win”. Let me know how many guitars you would like to take off my hands as I have a few “beauties “.


----------



## Diablo (Dec 20, 2007)

crann said:


> @Diablo I get what you're saying, but if we look at everything at its monetary value, trading is the idea that the current value lines up. Howard Leese talks about trading his pickup truck for a 59 burst in the 80's. Likely many people thought Howard was crazy at that time, but he made out pretty well on that deal.


i have no idea what youre getting at. he could have also ended up with a guitar worth a couple hundred bucks.
your gamble is your gamble, doesnt mean every seller buys into this stuff. If I have cash from a deal, I can invest it in BTC, or anything else I want, including paying my bills or funding my other purchases. Cash is KING, not BTC.

FWIW, I own a few grand of BTC as an investment diversification. But id still deal in cash. I dont ask if I can buy something with my Lululemon stock. I prefer to leave crypto to the geeks and drug dealers. While I believe in being as tax efficient as possible, if I make mad cash on BTC values rising, Im ok with paying a bit of tax on a few grand for a Fender CS for the privilege of being a Canadian and not having to worry about this nonsense:
Billions in lost Bitcoin: the buried treasure that people can never get back : Planet Money : NPR

here's the thing...you dont want to take a financial hit for cashing in your bitcoin...but doesnt that just move that tax burden onto the seller for when they want to cash out?


----------



## guitar-gord (Nov 21, 2010)

I would consider it, absolutely. But since I'm not currently actively using crypto, there would have to be a motivating reason for me to get involved. For example, if I'm not getting any takers at $4K in cash on the CGF or Reverb for a particular guitar, and if you offer me a crypto exchange of >$4K equivalent dollar value (at least enough extra to cover the taxes I will pay when cashing out), then that might entice me pending the current state of the offered crypto, how badly I need quick access to the cash, etc. I'm not overly concerned about trading guitars for crypto as a general rule, the question for me personally seems more like a "when" not "if" question. My younger self would never have believed that I would be sending money via email to people I've never met for guitars I've never played, but I'm doing that regularly now, so who knows.


----------



## crann (May 10, 2014)

@Diablo So, you would not accept it. Got it, thanks!


----------



## JeremyP (Jan 10, 2012)

guitar-gord said:


> I would consider it, absolutely. But since I'm not currently actively using crypto, there would have to be a motivating reason for me to get involved. For example, if I'm not getting any takers at $4K in cash on the CGF or Reverb for a particular guitar, and if you offer me a crypto exchange of >$4K equivalent dollar value (at least enough extra to cover the taxes I will pay when cashing out), then that might entice me pending the current state of the offered crypto, how badly I need quick access to the cash, etc. I'm not overly concerned about trading guitars for crypto as a general rule, the question for me personally seems more like a "when" not "if" question. My younger self would never have believed that I would be sending money via email to people I've never met for guitars I've never played, but I'm doing that regularly now, so who knows.


I think that's a great point. If there was some incentive , enough to cover the cash out then why not?


----------



## dumbstick (Apr 14, 2012)

Stevie007 said:


> Here are pics. G&L ASAT Classic Telecaster


Where is this guitar manufactured???


----------



## DrumBob (Aug 17, 2014)

I wouldn't even know how to begin with stuff like this. Just give me good, old-fashioned cash. I'm old school. Technology is fine, but to a point.


----------

