Prices in the olden days

[Mediocre Polymath]

Inspired by chat about current gear prices here and elsewhere, I thought I'd share this advert, which I recently stumbled across while digging through some newspaper archives for work-related research.

 

 

This appeared in the 15 September 1963 edition of the Fort Worth Star-Telegram. The fact that Leonards (a local department store) was putting these prices up-front in big writing suggests to me that they regarded these as competitive – they wouldn't have been simply stating RRP here.

 

To put these figures in context, here are the CPI-inflation-adjusted conversions of those prices. They're surprisingly close to the current RRP for top-of-the-line (non-custom-shop) American-made Fenders, higher in most cases.

 

BASSES
Jazz Bass                   $279.50 = $2,854.61 (£2,271.66)
Precision Bass           $229.50 = $2,343.95 (£1,865.28)

Plus another $59.50 ($607.69; £483.59) if you're a fancypants who wants a case.

 

GUITARS
Stratocaster               $259.50  = $2,650.35 (£2,109.11)
Jazzmaster                $349.50  = $3,569.54 (£2,840.59)
Jaguar                        $379.50  = $3,875.94 (£3,084.42)

Cases from $49.50 ($505.56; £402.31)

 

AMPS
Piggyback Bassman    $399.50  = $4,080.21 (£3,246.97)
Princeton                      $99.50   = $1,016.22 (£808.69)

 

I've had a look through contemporary used car listings from the same area, and while you couldn't get a nice car for these sorts of prices, you could get a car. Instead of a Jazz Bass you could have picked up a (ahem, stick-shift) 1955 Mercury Montclair, and instead of the misbegotten beast that is the Fender Jaguar (with case), you could be cruising around in the misbegotten beast that is the Ford Edsel.

 

Ask yourself, what are the ladies going to go wild for – a Fender Jaguar or this fly whip?

 

Edited May 15 by Mediocre Polymath

[Bagman]

Thanks for posting that with the CPI adjusted figures 

 

I found this advertisement UK Bassist Magazine 1996(?) 

 

 

[Mediocre Polymath]

4 minutes ago, Bagman said:

Thanks for posting that with the CPI adjusted figures 

 

I found this advertisement UK Bassist Magazine 1996(?) 

 

 

Interesting, a quick check against the Bank of England inflation calculator suggests that £ values from 1996 are equivalent to roughly double that number today (which in theory means Wals should be a mere £2,116...)

[Bagman]

2 minutes ago, Mediocre Polymath said:

Interesting, a quick check against the Bank of England inflation calculator suggests that £ values from 1996 are equivalent to roughly double that number today (which in theory means Wals should be a mere £2,116...)

Yeah I put it on the Talk Bass and the conclusion seemed to be Wal Bass is potentially an investment 

 

(I don’t know) 

[nikon F]

9 hours ago, Mediocre Polymath said:

Interesting, a quick check against the Bank of England inflation calculator suggests that £ values from 1996 are equivalent to roughly double that number today (which in theory means Wals should be a mere £2,116...)

the average wage in 93 was 17784 k now  its given as 35464 so pretty much double ,

[Chezz55]

The car in the last photo of the first post is drop-dead gorgeous (if only it wasn’t pink 🤢).

 

 

[Steve Browning]

I've posted these before. They'd cost a smidge more now.

[tauzero]

8 hours ago, Chezz55 said:

The car in the last photo of the first post is drop-dead gorgeous (if only it wasn’t pink 🤢).

 

 

 

If memory serves me right, it features in the Book of Heroic Failures as the worst car that Ford ever produced, which nearly bankrupted them. There were huge numbers of faults on them - doors that wouldn't close, windows that wouldn't open, etc. Production costs were huge. In addition, the radiator grille was likened unto a lady's nether parts. I think it was the only Ford ever named after a member of the Ford family. Apparently there was only ever one case of an Edsel being stolen.

[Cliff Edge]

23 minutes ago, tauzero said:

 

If memory serves me right, it features in the Book of Heroic Failures as the worst car that Ford ever produced, which nearly bankrupted them. There were huge numbers of faults on them - doors that wouldn't close, windows that wouldn't open, etc. Production costs were huge. In addition, the radiator grille was likened unto a lady's nether parts. I think it was the only Ford ever named after a member of the Ford family. Apparently there was only ever one case of an Edsel being stolen.

A local chap in our village has a glorious yellow Edsel convertible. It’s a huge impressive looking boat of a car. 

[TimR]

The first bass I bought in 1989 was £350. That would have been close to my months take home pay as a school leaver. I think I was paying 33% tax on £6kpa.

Edited May 16 by TimR

[obbm]

I can remember that when I wanted to buy a proper bass in 1964 a Fender Precision was about £85.  In the end I had to opt for a Framus Star Bass at £40.  At that time average earnings was about £10 a week.

[Reggaebass]

8 minutes ago, obbm said:

in 1964 a Fender Precision was about £85.

Would that have been the price for a new one back then 

[obbm]

1 minute ago, Reggaebass said:

Would that have been the price for a new one back then 

I seem to remember that it was certainly less than £100.  Maybe someone with a better memory can correct me.

[Ashborygirl]

I recall getting the first Fullerton reissue strats & JVs in the shop I worked in as a 14 year old.  We had the JVs up for £199 & (I think) the Fullertons were about £400.  Both were impossible dreams for me at the time.

[Lozz196]

In 1987 I went to buy a Fender Precision. It would have been £325 but they didn’t have any in stock. A pint back then was about 65p so that was the equivalent of 500 pints. 
 

A pint now is around a fiver and a US Fender Precision is £1800 - equivalent of 360 pints.

 

So either Precisions or pints have got cheaper!

[drTStingray]

In 1973 a brand new Fender Precision in natural ash with a maple board was £252 (I know - I lusted over it!!!). It was more than a quarter of my annual salary. 
 

If I was now on 40 hrs a week (under 21 yrs old) at minimum wage (£8-60 per hour), I would be earning £16,512 per annum - so on that basis an 18 yr old me could afford a £4,100 bass guitar - thus team built Fender CS (or the far superior Musicman, which would be even less). 
 

Bah - the youngsters of today don’t know they’re born lol!!! And before a series of excruciatingly stupid political decisions, following which the exchange rate crashed (thanks Nigel et al) you’d have got these basses for an even smaller proportion of your salary (although the Musicman would have not been as good as offered these days - they’ve upped their product in line with price increases - the Fender’s still the same, just pricier).

 

And please don’t use those CPI calculators - as everyone (should) know, they only work on certain average products and most certainly not luxury goods (high quality musical instruments fit into that category). Just try putting the price at say 1996 of a two bedroomed terraced house in the south and see what the calculator claims it’s worth, based on inflation and then compare with reality…….. in the immortal words of Fleetwood Mac “you might not get the answer that you wanted to” 😀

 

(Post script - CPI doesn’t include housing costs I think - do the same with RPI - similar outcome I think!!) 

[Reggaebass]

I’ve got the Bell catalog from 77 , here’s the fender page 

[ezbass]

1 hour ago, Reggaebass said:

I’ve got the Bell catalog from 77 , here’s the fender page 

All around the £2.3k mark in today’s money I think.

 

I’m intrigued by what looks like a 4/6, Ibanez, twin neck on the next page.

Edited May 16 by ezbass

[Reggaebass]

10 minutes ago, ezbass said:

All around the £2.3k mark in today’s money I think.

 

I’m intrigued by what looks like a 4/6, Ibanez, twin neck on the next page.

Your spot on ez , 

[TimR]

1 hour ago, drTStingray said:

In 1973 a brand new Fender Precision in natural ash with a maple board was £252 (I know - I lusted over it!!!). It was more than a quarter of my annual salary. 

 

 

I wonder if this is part of why these old Fenders are worth so much now. People who now have quite large funds chasing their childhood dreams amd buying instruments they've never been able to afford before, regardless of quality or sound. 

[itu]

Off topic, but what's wrong with pink cars?

 

https://en.m.wikipedia.org/wiki/FAB_1

[casapete]

2 hours ago, drTStingray said:

In 1973 a brand new Fender Precision in natural ash with a maple board was £252 (I know - I lusted over it!!!). It was more than a quarter of my annual salary. 
 

When I first started reading the Melody Maker each week around 1970/71, I remember poring over the

musical instrument adverts at the back and seeing some large shop advertising US Strats/Teles/Jazz

and Precision basses starting at £199. Maple boards always got charged a premium then ( how things

change!) and I’m not sure but I don’t think hard cases were included. Bell’s catalogue was always more

pricey as they offered hire purchase terms. My first US Precision cost me £199 s/h from a shop in

Leeds - that would have been mid 1980’s. It was a late 70’s job and pretty grim - dead sound and just

an uninspiring instrument. I ended up selling it and buying an early Squier 57 Precision in black with

a maple neck (and having a lot left over from selling the US one)  - wish I’d kept it. 

[drTStingray]

53 minutes ago, TimR said:

 

 

I wonder if this is part of why these old Fenders are worth so much now. People who now have quite large funds chasing their childhood dreams amd buying instruments they've never been able to afford before, regardless of quality or sound. 

Most of my contemporaries (musicians generally eg keyboard players, guitarists) bought what they wanted on finance. However I got bought something slightly different (instrument wise) for a landmark birthday - and no one had more than one instrument - by the time I was looking to buy a quality instrument a few years later it was a Stingray (at £375 with no hard case - I’d already got one so didn’t bother and in any case I’d only just about got the money for the Stingray).

 

I would confess to having played several natural/maple Precisions in the last few years - have not succumbed although got quite close with one. 
 

The other interesting point is that in 1973 I could have probably picked up a custom colour Precision for less than the price of the new one - I would have been as likely to do that as buy a Shadows record at that time (both considered equally past it and an anachronism at the time!!!!) I would confess to having been more tempted by both in recent years 🤣😀

Edited May 16 by drTStingray

[drTStingray]

3 minutes ago, casapete said:

When I first started reading the Melody Maker each week around 1970/71, I remember poring over the

musical instrument adverts at the back and seeing some large shop advertising US Strats/Teles/Jazz

and Precision basses starting at £199. Maple boards always got charged a premium then ( how things

change!) and I’m not sure but I don’t think hard cases were included. Bell’s catalogue was always more

pricey as they offered hire purchase terms. My first US Precision cost me £199 s/h from a shop in

Leeds - that would have been mid 1980’s. It was a late 70’s job and pretty grim - dead sound and just

an uninspiring instrument. I ended up selling it and buying an early Squier 57 Precision in black with

a maple neck (and having a lot left over from selling the US one)  - wish I’d kept it. 

You’re right - cases were often not included at that time. 

[tauzero]

1 hour ago, Reggaebass said:

Your spot on ez , 

 

Who nicked six machine heads off the middle one?