People have played music and listened to the sounds that instruments create for thousands of years now! Today, the most common instruments are those you might see at a rock concert: guitars, drums, and brass instruments like trumpets. They are as popular as they’ve always been, if not even more so! 

The emotional and mental value that musical instruments bring, especially with the rise of music therapy, is not hard to determine. However, a question comes up every so often about another kind of value: the monetary one. Needless to say, the best way to determine what a musical instrument's value is to that end will be to get a free evaluation at a reputable pawn shop.

OMV (open market valuation) or market value is the price an item would fetch at an auction that's competitive. Read on to learn more about factors that can help to determine whether your musical instrument is valuable enough to pawn in the first place.

Your Musical Instrument's Value Will Be Considered Through Its Condition

Much like any other item that's being evaluated and pawned, the condition your musical instrument is in will play a role in the final value. While mint condition is the best form for high value in collectibles, there's a caveat. Vintage or rare musical instruments, alongside those belonging to famous people, will decidedly not be in mint condition.

Your Musical Instrument's Value Will Be Considered Through Its History

Even the most ordinary of musical instruments can suddenly switch into a collectible that's of high value when there's a good story attached. Usually, this happens to things that were owned by popular celebrities or famous musicians.

There are many historical precedents to this, such as:

• Baby grand piano - This was previously owned by Marilyn Monroe. In 1999, it sold on auction for $662,500. The buyer still owns it to this day: pop superstar Mariah Carey.
• Ludwig drum kit - This was previously owned by Ringo Starr of The Beatles. In 2015, it sold on auction for just over 2 million dollars ($2,100,000 to be exact).
• "Blackie" - A Stratocaster guitar previously owned by Eric Clapton. In 2004, it sold on auction for almost a million dollars ($959,500).

Your Musical Instrument's Value Will Be Considered Through Its Rarity

Back in May 2006, a rare Stradivari violin called "The Hammer'' was sold on auction for a whopping $3,544,000. The sale was so massive it set a new world record when it comes to a new musical instrument. That's because violins that were created by Antonio Stradivari don't ever come on the market because they are incredibly rare.

"The Hammer" dates back to 1707, named after Christian Hammer, its first owner.

Even if what's on your hands is definitely not a Stradivari violin, if the musical instrument you've got is in good condition, rare and sought-after chances are it's valued quite highly. 

Conclusion

Musical instruments are obviously invaluable emotionally and mentally, but when it comes to monetary value, things are confusing for many. In truth, there are several factors that can determine whether an instrument is valuable or can be pawned at all. This includes rarity, condition and history.

Looking for a pawnshop in Madisonville, KY you can trust? Check out River City Pawn Shop today! Come on in and see what your items are worth.