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Year Ender: 345’s and 355’s

Post 59 ES-345's are still cheap. A few years ago, I could have sold this very clean watermelon red 60 for $16K. Today, it's $13K. It's got a couple of changed parts but still, $13K? For this? I must be nuts.

Post 59 ES-345’s are still cheap. A few years ago, I could have sold this very clean watermelon red 60 for $17K. Today, it’s $13K. It’s got a couple of changed parts but still, $13K? For this? I must be nuts.

If you read last year’s year ender, you would have noted that 345’s were really in the dumper. Stereo 355’s were in the same leaky boat. But that was then and this is now. And, somewhat surprisingly, they are pretty much right where they were then only now… it’s now. Still a tough sell and still a smart buy. I get that they aren’t as good an investment as a 335. I get that they aren’t as desirable as a 335. But I also get that they are every bit as good (and often better) than a 335 and they cost about half as much. Leave the stereo VT circuit or pull it out. I don’t care (as long as you put the original harness in the case). I sold a stop tail 64 this month with no issues-just some wear-to a smart buyer in Italy for under $10K. That same guitar, had it been a 335, would have been at least $17K. Stereo 355’s are the same story only maybe a little worse since there aren’t more than a handful of stop tails and the Bigsby (or sideways or Maestro) only makes it harder to sell. As these guitars dip below $10K, they become a pretty amazing deal. Most gold hardware guitars made up through 63 have PAFs and some 64’s do as well.  At the current market value of over $2000 each for PAFs, these guitars are no brainers.  When you consider the cost of a brand new Gibson, these make even more sense. They are a steal. Truthfully, I don’t see much more downside and I’ll likely be buying well priced stop tail 345’s as they come up. Yeah, there are still plenty of buyers who think their 60 is worth $20K or more but they either must not want to sell them or they are delusional (or both).

The exception to the above are the 59’s and the mono 355’s. Especially the early ones. An early big neck mono 59 355 or a “first rack” stop tail 59 ES-345 is a hot, hot guitar. I can sell as many as I get. I just can’t get that many. Both have cracked the $20K mark and sell very quickly-often in a day or two. Later 59’s are also strong but not quite at the level of these rarefied fat boys. A transitional neck 59 345 stop tail will be in the mid teens for sure and a really collector clean one might hit the high teens. Knock off 15%-20% for a Bigsby version. Since virtually all 59 355’s are Bigsby’s, the discount is built in. A 59 355 stereo falls somewhere below a stop tail 345 and a Bigsby 345. I still can’t figure out why a late 59 is worth more than an early 60, which is identical in every way, but I don’t make the rules.

And speaking of early 60’s, what is keeping the prices so low on 60-64 ES-345’s and stereo 355’s? There has been a quiet trend toward slimmer necks. Not everyone can play the real fatties but everyone seems to like to talk them up. I recently switched from playing a huge neck 58 to playing a transitional 60. As my hands get older, my ability to move quickly with all that wood diminishes. So, maybe with so much of my clientele over 50, it’s just the arthritis talking. But it’s talking fairly loud. Even so,  the prices remain fairly depressed. I remember selling a Bigsby 60 back in 2010 for $12000. I’d be lucky to get anywhere near that much today and the overall market is well up from then. If, indeed, the slimmer necks are getting more love these days, then the 60-63 market is poised to move upward. And it should. Even the slim neck 345’s and 355’s can be spectacularly good. There is a school of thought that equates fat necks with great tone and while I agree to an extent, it is not a rule. I recently had a 62 that was stunningly good and there is another 62 in my all time top five.

So, get out there and find the bargains. They are out there for sure. A 60-64 ES-345 or 355 is calling your name. I think I can hear it now. Or maybe that’s just my ears ringing from diming that tweed Bandmaster I’m so fond of.

Of course all bets are off if the 345 in question happens to be factory black. These went for some pretty big bucks in 2016. I hope I find another pair.

Of course all bets are off if the 345 in question happens to be factory black. These went for some pretty big bucks in 2016. I hope I find another pair.

5 Responses to “Year Ender: 345’s and 355’s”

  1. RAB says:

    Charlie, right on! Each Classic Year ES should stand on its own merits. And the best ES I ever owned (of many!) was a First Rack 345…never should have sold it but I just had to have a dotneck don’t ya know! The dotneck wasn’t nearly as good a fiddle…

  2. Michael Minnis says:

    Thanks for another informative and transparent post, Charlie! Hope to speak to you in 2017!

  3. G says:

    Nice analysis! What about accessories like original hard cases? Any market trend/thought? Btw I really can’t understand why so many people don’t appreciate the Bigbsy…

  4. cgelber says:

    Good idea but it’s pretty tough to quantify the market because the price range is so huge. I bought a pretty decent brown 335 case at the Philly show for $200. I see them for $800-$1500 all the time. I don’t anybody actually gets that much. Also, most folks don’t now how to date cases or parts. As for the Bigsby, it adds a lot of weight and if you don’t use one, theres no point in carrying around an extra 3/4 of a pound. There are other factors as well but that’s the big one for me.

  5. G says:

    Thanks for the answer :). You’ve got the point.. I own a ’64 ES355 but I’m not a collector.. It would be nice to have the original hard case, no doubt. Though, for the prices I see I’d rather put the money in a new guitar. I mean..I get the vintage vibe..but.. (btw congrats for this website..I consider it a sort of Holy Bible eheh and your post on the “originality” of the cases was super interesting)

    Cheers!

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