bcorwin - Posted - 04/09/2024:  16:21:39

I am considering buying Mike Ramsey banjo #294 from a friend. See attached photos. I would like help determining a price that is fair to both me and my friend. He is getting older and his memory isn't great. He can't remember how much he paid for it. He is the original owner. The nameplate says Appomattox, Virginia and the pot is 12". It has some fret wear and will likely need a fret job in the not-too-distant future, but intonation is still pretty good. There's a wear depression in the fretboard and there are minor chips, dings, and wear in the varnish of the neck and peghead. Otherwise it appears to be in good condition. It comes with a hardshell case. I would welcome opinions and guesstimates on these questions: What year was #294 made? What model is it? How much might he have paid originally? How much might it be worth today? Thank you for your help.

 

Bill Rogers - Posted - 04/09/2024:  17:03:30

Given the condition, notablhy the frets, I’d suggest $1,500. The market might be a bit higher, but your friend won’t have to ship it—and that’s a hassle.

Garlon - Posted - 04/09/2024:  17:19:30

Go to Reverb and search for Mike Ramsey banjos.
I own 3 of them and I am NOT an expert but they are usually very good quality. In EXCELLENT condition they go for $1500 - $2000 and sometimes more. My guess is that if it is well used and needs repair that $1000 is a starting point for negotiations. It was definitely built well before 2000. My guess is in the 1990s.
I started a Facebook group for Mike Ramsey banjo owners and so far I think we have only 3 or 4 members. If you buy that one you will be welcome to join.

Garlon - Posted - 04/09/2024:  17:24:50

I think Mike Ramsey opened the Appomattox shop in 1995.

Banner Blue - Posted - 04/09/2024:  19:36:04

guitarcenter.com/Used/In-Store...-Banjo.gc

ceemonster - Posted - 04/10/2024:  23:58:56

Ramsey brass-hoop banjos went for $900 to $1200 or so for many years. Maybe the fancier "Special" with flame maple and abalone Saturn inlay went for $1500 new at the end, not sure.



That looks like a Ramsey "Student" model, which even at the later stage cost about $1000 to $1200 new. Used banjo prices certainly have risen in response to the inflation in new banjo prices. OTOH, you must balance that against the reputed inconsistency of Ramsey banjos from a QC standpoint. I wouldn't pay $1500 for this model unless it was in pristine condition, but I may be under-estimating the inflation in used-banjo prices.

Edited by - ceemonster on 04/11/2024 00:00:14

wrench13 - Posted - 04/11/2024:  05:16:47

I was going to pull the trigger on a Ramsey banjo, a fancy one, but stories of inconsistent quality and a further examination of the skill level on all the inlays put me off.

ceemonster - Posted - 04/11/2024:  06:11:49

As a comparison, I see a Ramsey "Standard" model (brass hoop, Saturn inlay, black-painted pot) just posted here at BH listed at $875, this one with a Walnut neck, described as having general play-wear and some fretwear, with a bit of inlay chipping.  

Edited by - ceemonster on 04/11/2024 06:14:22