Can flutes be a good investment?
Moderators: Classitar, pied_piper, Phineas
Can flutes be a good investment?
Any comments?
This is a loaded question. Investment can come from 2 perspectives. Collection, or justification.
If you are a flute collector, then it could be a good investment.
If you are a player, it depends on how you look at things. Here is how I justify my costs.(not real numbers, but will give you an idea for an average part time pro/paid amateur player.
If a player makes $100 for a 3 hours gig(With a band), spread it out over 5 hours because you need an hour before and after the gig for transportation, setup and warm up. This translates to $20 dollars an hour. This leaves you $80 per gig.
If you do 8 gigs a month, this means I would clear $640 before taxes. If you are not a drinker, or eat food at the place you gig at! Take out $200 for taxes, now we are down to $440 dollars a month. Over 12 months $5280 Net. Now we can work from there.
Tuxedo $1200 (You need at least 2)
Dry Cleaning $600
Flute Maintenance $200
Gear/Sheet Music $300 (Generous!)
Total $2300
$5280 Net
-2300 Expenses
Total made after expenses $2980 per year.
This is roughly 56% of the Net. If I were to buy a $3000 flute, it would take a little more than a year to pay for it. Of course, I would not be putting any money in my pocket...LOL Not only that, in this price range, My flute would loose 30% of its value over a 1 year period. The good thing in this case, if I were to keep this flute for 3 or 4 years, I would actually make money off of it! Anything less, then a new flute is nothing but a toy. Of course, there is no cost justification on toys.
Your mileage may vary, but you get the picture.
Phineas
If you are a flute collector, then it could be a good investment.
If you are a player, it depends on how you look at things. Here is how I justify my costs.(not real numbers, but will give you an idea for an average part time pro/paid amateur player.
If a player makes $100 for a 3 hours gig(With a band), spread it out over 5 hours because you need an hour before and after the gig for transportation, setup and warm up. This translates to $20 dollars an hour. This leaves you $80 per gig.
If you do 8 gigs a month, this means I would clear $640 before taxes. If you are not a drinker, or eat food at the place you gig at! Take out $200 for taxes, now we are down to $440 dollars a month. Over 12 months $5280 Net. Now we can work from there.
Tuxedo $1200 (You need at least 2)
Dry Cleaning $600
Flute Maintenance $200
Gear/Sheet Music $300 (Generous!)
Total $2300
$5280 Net
-2300 Expenses
Total made after expenses $2980 per year.
This is roughly 56% of the Net. If I were to buy a $3000 flute, it would take a little more than a year to pay for it. Of course, I would not be putting any money in my pocket...LOL Not only that, in this price range, My flute would loose 30% of its value over a 1 year period. The good thing in this case, if I were to keep this flute for 3 or 4 years, I would actually make money off of it! Anything less, then a new flute is nothing but a toy. Of course, there is no cost justification on toys.
Your mileage may vary, but you get the picture.
Phineas