Old and New
Extrinsic vs. Intrinsic Value in a Violin
A fine violin is seen as both an object of technical perfection, and passion. With such a wide range of appeal, it is no wonder that stories of violins often take on nearly mythical qualities, and the violins themselves often seem like the great heroes of the past, absorbing some part of all the great people who have owned and played them.
Some violins are lesser known, but even many of those have qualities that inspire the imagination, and the lack of known history only lends them a deeper sense of mystery.
What makes a violin great? What makes it expensive? For that matter, what can make it junk? Is a good violin always expensive?
We may best be able to obtain some sense of answers to these questions by exploring the "Strad Secret". By considering one possible answer to this great mystery, we may uncover much truth about great violins.
Consider this possibility. Antonio Stradivari was truly a great maker. Most of his violins were really good, and people desired them for their quality. There were other great makers as well, some in other countries and many quite comparable to the famed Antonio Stradivari.
Years after his death, players recognized Stradivari violins as quite desirable. Recognizing this, Luigi Tarisio combed the countryside of Italy in search of Fine Cremonese (mostly Stradivari) instruments that he could restore and sell. He found an enthusiastic supporter and partner in Jean Baptiste Vuillaume.
With Tarisio as a supplier, and Vuillieume as a seller, they supplied fine Italian violins to many of the finest players in Europe.
Skip forward many years to the modern era. Stradivari (and other Italian) violins have all of the advantages that time can offer to the sound. They have developed well under the hands of the best players in the world, and they have had the best care, repair and adjustment of all violins. Is it any wonder that Stradivari violins are such excellent specimens both acoustically and physically?
The qualities of a Stradivari violin are both intrinsic and extrinsic. What does this mean? In short, we may think of extrinsic as the value we give the instrument, and intrinsic as the qualities it has, regardless of the value we place on it.
The price of the violin based on the name it bears is extrinsic. The quality of the sound when it is played well is intrinsic.
Extrinsic value is quite real though. Imagine a Stradivari violin originally owned by a king, played by Paganini, stolen, discovered halfway around the world in the hands of a street player, restored by a famous violin maker killed in WWI, then later played by Heifitz. This instrument would have real historical value. As an interesting piece in a museum it could attract a lot of attention. One could write best selling books based on the history of this violin alone. What would it be worth to own the violin, to become a part of this famous and magnificent adventure? While this is extrinsic value, it is very real value. Collectors, investors and musicians spend millions of dollars to participate in the life of such an instrument. The responsibility of protecting such treasures is not for the timid.
Intrinsic value is what you find in that fine 1760 Klotz violin that we obtain from the estate of an amateur violinist, restore and sell for several thousand dollars. It has an air of mystery that evokes wonder when seen and played, but the mysteries and secrets are for the violin to keep. While the violin is beautiful, sonorous and has a lot of character, the owner really has no idea as to what adventure he/she has chosen to participate. Be that as it may, the sound of the violin is good enough to rival some very fine Italian instruments.
Most of today's primary collectors of Stradivari and Guarneri violins are not players, but investors. They recognize that they can make a lot of money in choosing violins carefully, and obtaining them at a good price. An investor will typically purchase a fine violin, and keep it for at least ten years. The right violin will appreciate in value.
Violins are an exceptional investment. The potential for profit is stunning. While this certainly is a motivating factor, the collector's main reason for obtaining fine violins is, mostly, for the love of the instrument.
The truly collectable violins are old. Sadly, new violins, made by skilled and living makers appreciate little (in a financial sense) if they appreciate at all. In order to justify the time and skill required to make a violin, a living maker has to charge a lot of money for the violin. Even after letting the instrument and market mature for ten years, it is hard to recover the original asking price after purchasing a violin made by a living maker.
In addition, it is hard to justify paying a lot of money for a violin that has not had the advantages of time. Much of the intrinsic value of a violin comes with time.
As you search for your fine string instrument, bear in mind that it is a stepping stone as an investment. It can help you obtain more desirable instruments in years to come. The choices you make now will likely affect your ability to find the perfect violin to match your playing potential, or your desire to get a sound investment.
Most of all enjoy the journey, whether it is to participate in a known historical adventure, engage a mystery, or simply to enjoy the music.
By Charles W. Liu and Michael J. Fraughton
Excerpt from The Violin Notebook ©2006
Extrinsic vs. Intrinsic Value in a Violin
A fine violin is seen as both an object of technical perfection, and passion. With such a wide range of appeal, it is no wonder that stories of violins often take on nearly mythical qualities, and the violins themselves often seem like the great heroes of the past, absorbing some part of all the great people who have owned and played them.
Some violins are lesser known, but even many of those have qualities that inspire the imagination, and the lack of known history only lends them a deeper sense of mystery.
What makes a violin great? What makes it expensive? For that matter, what can make it junk? Is a good violin always expensive?
We may best be able to obtain some sense of answers to these questions by exploring the "Strad Secret". By considering one possible answer to this great mystery, we may uncover much truth about great violins.
Consider this possibility. Antonio Stradivari was truly a great maker. Most of his violins were really good, and people desired them for their quality. There were other great makers as well, some in other countries and many quite comparable to the famed Antonio Stradivari.
Years after his death, players recognized Stradivari violins as quite desirable. Recognizing this, Luigi Tarisio combed the countryside of Italy in search of Fine Cremonese (mostly Stradivari) instruments that he could restore and sell. He found an enthusiastic supporter and partner in Jean Baptiste Vuillaume.
With Tarisio as a supplier, and Vuillieume as a seller, they supplied fine Italian violins to many of the finest players in Europe.
Skip forward many years to the modern era. Stradivari (and other Italian) violins have all of the advantages that time can offer to the sound. They have developed well under the hands of the best players in the world, and they have had the best care, repair and adjustment of all violins. Is it any wonder that Stradivari violins are such excellent specimens both acoustically and physically?
The qualities of a Stradivari violin are both intrinsic and extrinsic. What does this mean? In short, we may think of extrinsic as the value we give the instrument, and intrinsic as the qualities it has, regardless of the value we place on it.
The price of the violin based on the name it bears is extrinsic. The quality of the sound when it is played well is intrinsic.
Extrinsic value is quite real though. Imagine a Stradivari violin originally owned by a king, played by Paganini, stolen, discovered halfway around the world in the hands of a street player, restored by a famous violin maker killed in WWI, then later played by Heifitz. This instrument would have real historical value. As an interesting piece in a museum it could attract a lot of attention. One could write best selling books based on the history of this violin alone. What would it be worth to own the violin, to become a part of this famous and magnificent adventure? While this is extrinsic value, it is very real value. Collectors, investors and musicians spend millions of dollars to participate in the life of such an instrument. The responsibility of protecting such treasures is not for the timid.
Intrinsic value is what you find in that fine 1760 Klotz violin that we obtain from the estate of an amateur violinist, restore and sell for several thousand dollars. It has an air of mystery that evokes wonder when seen and played, but the mysteries and secrets are for the violin to keep. While the violin is beautiful, sonorous and has a lot of character, the owner really has no idea as to what adventure he/she has chosen to participate. Be that as it may, the sound of the violin is good enough to rival some very fine Italian instruments.
Most of today's primary collectors of Stradivari and Guarneri violins are not players, but investors. They recognize that they can make a lot of money in choosing violins carefully, and obtaining them at a good price. An investor will typically purchase a fine violin, and keep it for at least ten years. The right violin will appreciate in value.
Violins are an exceptional investment. The potential for profit is stunning. While this certainly is a motivating factor, the collector's main reason for obtaining fine violins is, mostly, for the love of the instrument.
The truly collectable violins are old. Sadly, new violins, made by skilled and living makers appreciate little (in a financial sense) if they appreciate at all. In order to justify the time and skill required to make a violin, a living maker has to charge a lot of money for the violin. Even after letting the instrument and market mature for ten years, it is hard to recover the original asking price after purchasing a violin made by a living maker.
In addition, it is hard to justify paying a lot of money for a violin that has not had the advantages of time. Much of the intrinsic value of a violin comes with time.
As you search for your fine string instrument, bear in mind that it is a stepping stone as an investment. It can help you obtain more desirable instruments in years to come. The choices you make now will likely affect your ability to find the perfect violin to match your playing potential, or your desire to get a sound investment.
Most of all enjoy the journey, whether it is to participate in a known historical adventure, engage a mystery, or simply to enjoy the music.
By Charles W. Liu and Michael J. Fraughton
Excerpt from The Violin Notebook ©2006