Have you noticed that the used instrument market is changing? Pianists, ignore this. Your market is the same.
For as long as I can remember, you could get a decent used student or intermediate flute for 80-90% off retail, and a used pro flute for 40-50% off. It didn’t matter how old or new the instrument was, it took an immediate plunge and stayed there. Those numbers are no more.
I’m a huge supporter of buying used instruments, and I practice what I preach. I’ve been looking for an intermediate flute for my daughter for about 6 months, and I’m consistently seeing used intermediate flutes go for 15 – 30% off retail. That’s a big difference from before. To me, that’s not a used price. That’s a sale.
While I was looking around, I decided to mosey on over to the flutes that are on my wish list. I really want a Haynes Q3 or an Altus 1107 with a gold riser. The pro flute market hasn’t changed much, to the point where I could get a used pro flute for the same price as a used intermediate. Hmmm. What’s up with that?
Used Car Market has Parallels to Used Instrument Market
I did some digging. I found some parallels between the used car market and the used flute market. Remember how for the past couple of years, you couldn’t get a new car if your life depended on it? There was something about the computer chips being stuck in a shipping snafu. The used car market skyrocketed, up to 4 times the normal price because people were still getting in situations where they needed to replace vehicles.
Once new vehicles became available again, the used cars came back down in price. They’re still not at what they were before, but the market is calming down.
A similar thing happened in the musical instrument market. The flute parts are mostly made in Asia, even if they’re assembled here in the USA. With the shipping situation that happened in the past three years, the instrument makers couldn’t get a hold of parts to make new instruments. I heard that new instruments were on backorder for 6 months during the past few years.
The student market and the intermediate market have a little more urgency than the pro market. If a person wants to start playing an instrument in school, they usually get a new one. With the new instruments on back-order, the people who would normally buy new had to buy used.
The intermediate instruments have a little less urgency. In flute, usually a student will upgrade to an intermediate after 3-5 years. They won’t be held back by their instrument until about the 5-6 year mark or so, so they have a little bit of breathing room. Still, once an instrument is holding you back, you need to upgrade.
The pro instruments are handmade, so they’re not held back as much by shipping issues. Less people get to a pro level so there’s less demand. Even if they outgrow their intermediate, oftentimes a musician will know how to make do until they can afford a new instrument (me!). With delayed gratification already happening, people are more likely to say, “That’s okay, I’ll wait.”
How to Handle the Changes
The used car market has gone towards normal levels for the past 6 months. I would expect the used instrument market to do the same within the next 6 months or so. We’ll see.
Here’s what I’m going to do. First I’m going to wait 6 months to see if the prices go down. If they do, I’ll get a used intermediate flute for my daughter.
If the prices don’t go down by this summer, I figure I have a few options:
- Get an intermediate headjoint from a parts flute for less than $50 off ebay, in the brand that works well for her, and find a used intermediate flute that’s a less expensive brand than the ones she likes. Have my tech fit the headjoint to the cheaper flute.
- Get a pro flute for the same price as the ones that she likes. Do the same thing as above with the headjoint.
- Just buy a new intermediate flute. There isn’t enough of a price difference to warrant getting a used one.
How about you? What would you do in this situation?
