Curse you Farage!

interesting article in the guardian today…..

“British guitar buyers could soon be playing the Brexit blues as price rises caused by the slump in the value of the pound feed through to music stores.

Prices are increasing by double digits as top US brands such as Gibson and Fender increase list prices to make up for the weaker purchasing power of sterling.

Anthony Macari, co-owner of Macari’s on London’s Denmark Street, said: “We are seeing increases of 10-15%, not just on American guitars but on guitars coming in from Europe and China. Everyone is catching up.”

He said increases were noticeable because guitar prices have barely risen in recent years. The full effect will be felt after Christmas, he said.

The list price of the standard US model of Macari’s top-seller, the Gibson Les Paul, will increase by about 10% to £2,299 for 2017.

At Regent Sounds on the other side of Denmark Street, owner Crispin Weir said he had changed his prices three times since the vote for Brexit. He said prices of Fender guitars had gone up by about 20% and for other items the increase was more.

“We’ve seen prices increase right across the board and they are continuing to rise. Some things are going to go up by 40%. I always feared this would happen.”

The pound has lost almost a fifth of its value against the dollar since the referendum on 23 June. Sterling has also tumbled against the euro and the Chinese yuan, pushing up prices of budget models made in China.

Macari and Weir said there was a short-term benefit to the pound’s plunge. Macari said customers were snapping up existing stock and Weir said European tourists were taking advantage of the euro’s strength to buy instruments. Macari’s effects pedals, which it makes in London, have also become cheaper for US buyers.

British guitarists may have little option but to pay the extra because there is no domestic maker to compare with the cachet and history of the US brands. Macari said: “If it’s not made in Nashville, it’s not a Gibson.”

 

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