Gary Moore LP for sale again..

[mhalsey]

Also, I wonder how much he's charging to have your picture taken with it? I saw countless folks on that website taking pics with it and pawing all over my $2M axe. Not sure I want it now since seeing Gomer with his lips all over it.

[speed monkey]

Gary is not selling the guitar...he ALREADY sold the guitar for a reported $1.2 million last year....he's bent out of shape that it's public knowledge now because he's going to have to pay taxes on the sale...also may have caught some flack since Peter Green essentially gave him the guitar - unlikely he was cut in on the $

The guy that bought it from Moore is now selling it for $ 2 million...supposedly has a buyer or two thats made offers very ner the current asking price.

Huge debate on the LP Forum about this one...

Steve E

[speed monkey]

double post...I meant it the first time too

[Grandturk]

Gary is not selling the guitar...he ALREADY sold the guitar for a reported $1.2 million last year....he's bent out of shape that it's public knowledge now because he's going to have to pay taxes on the sale...

He may be acting like he's upset, but only an idiot would think he could move something that big, that he's that famous for without anyone taking note. What, was he going to report it as stolen and commit insurance fraud?

[jwoods986]

Why would you have to pay tax on selling a used guitar privately (not from a store)? I've never heard of that. If you sell a guitar (or anything for that matter) on ebay, the newspaper, JCF, whatever, you don't pay taxes. And what would these "taxes" be? Sales tax? If so, the buyer would be paying that anyway.

[guitarsjb]

Why would you have to pay tax on selling a used guitar privately (not from a store)? I've never heard of that. If you sell a guitar (or anything for that matter) on ebay, the newspaper, JCF, whatever, you don't pay taxes. And what would these "taxes" be? Sales tax? If so, the buyer would be paying that anyway.

Yeah. ?

[L]

what's stevie ray ernest doing in those pics?

[Grandturk]

Why would you have to pay tax on selling a used guitar privately (not from a store)? I've never heard of that. If you sell a guitar (or anything for that matter) on ebay, the newspaper, JCF, whatever, you don't pay taxes. And what would these "taxes" be? Sales tax? If so, the buyer would be paying that anyway.

Its called capital gains. Anything you sell for more than you paid is a capital gain. Obviously, small fries buying and selling Jacksons and Charvels don't really have to worry about this, but anyone moving '59 Les Pauls does.

http://www.irs.gov/taxtopics/tc409.html

[Snoogans]

Just a thought, how much would Billy Gibbons' "Pearly Gates" be worth?

[jwoods986]

Its called capital gains. Anything you sell for more than you paid is a capital gain. Obviously, small fries buying and selling Jacksons and Charvels don't really have to worry about this, but anyone moving '59 Les Pauls does.

http://www.irs.gov/taxtopics/tc409.html

Bastards! I thought capital gains was just for stocks, bonds, property, etc. but it's for ANYTHING that you sell for more than you paid. Right in the first paragraph it basically says that if you sell anything for a profit, you pay capital gains but if you sell a house or car (two major items) and lose money, you can't write off the loss. Fucking government...........

I have some experience with capital loss after I lost 15K on the stock market in 2000 and found out when I went to do my taxes that you can only write off 3K/year in losses (at least I could carry over the rest). Of course, if I had MADE 15K, I would have had to put it all on that year's taxes. Fucking government.........

[speed monkey]

It stands to reason that if Moore already had pre-existing tax issues either with the U.S. or UK government it would be way hard for him to fly under the radar - especially selling a guitar with that high of a profile for $ that large....if he only has essentially a couple hundred into the guitar - he will only have to pay taxes on nearly $1.2 million - no big deal, right ? the story of Peter Green selling him the guitar for like $50 plus whatever he could get for the guitar he currently owned (a wopping $200) is pretty legendary and easily confirmed at this point.

Steve E

[5074charvel]

I think I remember an interview with Billy Gibbons where he stated that he owns 150 58-59 Les Pauls. That would sum up to 300 M.

[straycat]

You only pay capital gains tax if over 250 K. profit.Glad to see a Greg Martin pic in there check his web site out.Greg is a really great guy and one hell of a guitar player.

[jwoods986]

Just a thought, how much would Billy Gibbons' "Pearly Gates" be worth?

Good question. If the Green/Moore LP (repaired neck and all) went for 1.2 mil, I'm sure Pearly Gates would be at least that. Hmmm, that gets me thinking - what are the most valuable guitars? I don't want to hijack, so I'll start a thread about this (in the artist/gear section).

[speed monkey]

I think I remember an interview with Billy Gibbons where he stated that he owns 150 58-59 Les Pauls. That would sum up to 300 M.

I'm pretty sure that not even 150 Les Pauls were built in 58 ' - 59'...he has a couple though....the "foremost" collector of them has appx 14 - 15 of them at the moment.

Check out the book "The Beauty of the Burst" for some great info and devestating pictures....

Steve E