by Peter Lindblad

The recession has affected every segment of the economy. That goes for the vintage-guitar market, too.

Though interest in Les Paul model guitars has risen in the wake of the great innovator’s death, it’s not expected that prices for even the rarest of the Gibsons that bear his name will go up. In fact, according to Dave Rogers, of Dave’s Guitars in La Crosse, Wis., they’ve dropped the last couple of years. And, he adds, “I haven’t seen a run on them since he died.”

Among Les Paul Gibsons, the 1958-1960 Les Paul Standards are considered the most valuable, with the 1959 being the ultimate collectible in this group. “Those are the ones everybody wants,” says Rogers, who estimates that about 1,500 of the 1958-1960 models were made.

In 2005, according to “Warman’s Vintage Guitars Field Guide,” that one — featuring the famed Sunburst design — was worth around $250,000, double the 2001 value for a specimen in excellent condition. By 2008, those same ones were worth more than $400,000.

Today, however, according to a Washington Post article by Jonathan Starkey, Vintage Guitar magazine’s upcoming “2010 Price Guide” projects it’ll be worth around $300,000.

Interestingly, 1950s Les Paul (Goldtop) models reached their peak in 2007. In its “2009 Price Guide,” Vintage Guitar tracked the prices of those guitars versus 1950s Stratocasters. From 2001 to 2006, Les Pauls trailed Stratocasters in price. Then, suddenly, in 2007, the 1950s Les Paul (Goldtop) surged ahead, topping $250,000, while Stratocasters reached more than $200,000.

Two years later, those same Gibson Les Pauls were worth between $150,000 and $200,000, while Statocasters, after being valued at between $200,000 and $250,000 from 2007-2008, settled at $200,000 in 2009, according to Vintage Guitar’s study.

As for those 1958-1960 Gibson Les Paul Standards, Vintage Guitar’s 2009 Price Guide lists prices for models in excellent condition that range from a low estimate of $125,000 for a 1958 model with a plain top and no figuring to a high of $350,000 for both the 1959 model with the figured top and the 1960 highly flamed, strong-color version.

But what about Les Paul’s records, especially the ones he made with Mary Ford in the 1950s?

“I haven’t seen a major spike [in value since Paul’s death], and there’s probably not going to be a major spike,” says John Tefteller, of John Tefteller’s World’s Rarest Records. “He sold so much product over time, and with any anybody selling thousands of records, they’re usually not rare. The cold, hard fact is that he’s not a big collectable artist whose records are going to bring in a lot of money.”

Still, a couple of the early Les Paul/Mary Ford Decca label 45s — 1949’s “Hawaiian Paradise” and 1952’s “Galloping Guitars” — in near-mint condition can fetch $100, according to the “Goldmine Standard Catalog Of American Records 1950-1975, 6th Edition.”

“The early records on Decca are reasonably hard to find, as opposed to those on Capitol,” says Tefteller.

Having a white-label promo record of Paul’s that’s in store-stock condition might be pretty valuable, according to Tefteller. But overall, there isn’t much in the way of high-priced records out there for Les Paul.

A selection of guitars owned, used and/or designed by legendary country guitarist Chet Atkins are heading for the auction block in Dallas.

The guitars are the keynote lots of the 621-lot music portion of Heritage Auction Galleries’ Signature Music & Memorabilia Auction, which will be held Feb. 21-22.

Atkins was a fixture on the American music scene for almost 60 years. The list of musicians with whom he played or produced reads like a Who’s Who of mid-20th Century American music: Elvis Presley, Willie Nelson, Waylon Jennings, Dolly Parton, Perry Como, Eddy Arnold, Don Gibson, Jim Reeves, Jerry Reed, Skeeter Davis, Connie Smith, Bobby Bare, Jerry Reed, John Hartford and Charley Pride, just to name a few.
Even now, almost eight years after his death, Atkins is just as revered, if not more revered, than he was in his lifetime. 

“For the truly discriminating guitar collector it simply can’t get much better,” said Doug Norwine, director of Music and Entertainment for Heritage. “Just to be able to hold one of Chet’s guitars is an amazing thing, let alone being given the chance to acquire one he himself owned, played or personally designed … that’s a pretty special thing.”

The guitars come from the Russ Cochran Collection. The Atkins’ guitars featured in the auction include:

• A Gretsch Country Gentleman owned and played by Chet Atkins (1971) in very good condition, estimated at $15,000;

• A Gibson Country Gentleman original prototype guitar, owned and played by Chet Atkins (1986) in very good+ condition, estimated at $15,000;

• A Gibson Chet Atkins Super 4000 Limited Edition Guitar (1978) in near mint condition, estimated at $25,000;

• A Gretsch Model 6120 Archtop Guitar owned and modified by Chet Atkins (1958) in very good condition, estimated at $15,000;

• A Gibson Octobass Modified Country Gentleman Guitar owned and played by Chet Atkins (1991) in excellent condition, estimated at $6,000;

• A Martin HD-28 Chet Atkins-owned acoustic guitar (1987) in excellent condition, estimated at $2,000; and

• A D’Angelico Excel Guitar (1950) in very good condition, which is just one serial number away from the very same guitar Atkins used throughout 1950-1954 when he played with The Carter Family, estimated at $30,000.

Other artists’ memorabilia, instruments, records and more featured in the auction include: Buddy Holly; Bruce Springsteen; Bob Dylan; The Beatles; Janis Joplin; The Beach Boys; Frank Zappa; Hank Williams Sr.; Tim Buckley; Crosby, Stills, Nash and Young; The Who; Led Zeppelin; Rolling Stones and Elvis Presley. A selection of Woodstock items also are offered.

Los Angeles — Following a visit to New Orleans in November 2005, U2’s The Edge announced the unveiling of Music Rising, a campaign to raise funds to replace the lost instruments and accessories of the musicians affected by the hurricanes that devastated the Gulf Coast region. Lead partners Gibson Guitar and Guitar Center Music Education Foundation have spearheaded the initial effort by collaborating on the design, manufacture and sale of an exclusive Gibson guitar with all proceeds going directly to the Music Rising program. The guitar will be available through Guitar Center.

The instrument captures the essence of the Gulf Coast’s musical tradition. A very limited quantity will be produced with all proceeds benefiting Music Rising and a pledge of $1 million in support. The Gibson Music Rising guitar features hand-painted designs using the colors of Mardi Gras. Each guitar will be individually painted and handmade. All of the usual plastic parts (back plate, pick guard, toggle cover, truss rod cover) have been replaced by woods from the States affected by the hurricanes, and the Music Rising logo, exclusive to this guitar, is etched into the pick guard.

The Edge visited New Orleans between U2’s Vertigo tour dates to see the profound impact on the area first-hand and to spend time with local musicians, listening to their experiences and trying to understand their needs. During his stay, he toured several neighborhoods and struggling venues.

“My recent visit to New Orleans gave me a first-hand look at the devastation which tragically destroyed the lives of thousands. The area’s rich and spirited culture must be restored and can be by assisting those musicians affected by the disaster, which in turn will bring back the essence of the regions,” said Edge. “Providing replacement instruments through Music Rising will not only help the professional musicians to regain a foothold on their future, but will also ensure that one of the Gulf Coast’s greatest assets, its music, will rise again.”

The application and qualification process for musicians will be handled by MusiCares®, a nonprofit organization dedicated to helping music people in crisis which has already provided more than $1.5 million in direct financial assistance to more than 1,800 Gulf Coast music people. MusiCares Foundation will manage all eligibility for Music Rising grants, and fulfillment of the grants will be managed by Musician’s Friend, one of the country’s largest online music retailers.

In addition to the purchase of the Music Rising guitar, interested supporters can make tax-deductible contributions to Music Rising at www.mus icrising.org or by sending a check made payable to: Music Rising, c/o MusiCares Foundation, 3402 Pico Blvd., Santa Monica, CA 90405. For more information on Music Rising or how to purchase the Music Rising Gibson guitar go to www.musicrising.org.