why do collectors pay so much for an original Les Paul burst ? - Reverb article

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  • BridgehouseBridgehouse Frets: 24579
    @ourmaninthenorth ;

    I totally agree with your statements about there being some exceptionally generous collectors.

    When I was on the look out for a pre-CBS fender bass - I posted on Basschat for opinions.

    Within 24 hours I had received *six* offers from owners/collectors to go over to theirs and try out a whole range of basses to get a feel for them. One guy even offered to drive to mine with a couple of his to try out. This wasn’t showing off - this was by PM, discrete and hidden. 

    I met a couple of them and they were the nicest guys you could hope to meet. None were selling so it wasn’t a pitch. One offered to come with me to check out a bass I eventually ended up buying. 

    It’s easy to dismiss these people as rich show offs - the thing is, some are just nice obsessed loonies who spent their money on a guitar rather than a Porsche
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  • mbembe Frets: 1840

    It’s easy to dismiss these people as rich show offs - the thing is, some are just nice obsessed loonies who spent their money on a guitar rather than a Porsche
    One who had 'the' guitars and the Porsche started coming to our jam night. Eventually he stole our drummer and bass player. :#
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  • BridgehouseBridgehouse Frets: 24579
    mbe said:

    It’s easy to dismiss these people as rich show offs - the thing is, some are just nice obsessed loonies who spent their money on a guitar rather than a Porsche
    One who had 'the' guitars and the Porsche started coming to our jam night. Eventually he stole our drummer and bass player. :#
    I wouldn't be tempted to join a band with someone just cos they had a posh guitar and a porsche.


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  • IvisonGuitarsIvisonGuitars Frets: 6838
    edited August 2018 tFB Trader
    Strat54 said:
    I think one of the factors that is always overlooked and one that these wealthy guys don't like to admit to is that by owing one you are joining an exclusive ownership club where rock stars, guitar historians and very average players can come together, converse and socialise. 

    Here's the quote from the article...

     'That's a shame—but unlike my friend Joe Bonamassa'

    Joe isn't the only 'friend' you gain too. There are a number of other Burst loving pro guys who if you live in L.A or the like who you can become 'buddies' with. Its currency, its kudos, it is credibility for the ordinary but wealthy guys who quite often aren't so great players. This is reason enough for them to buy.
    Kris Blakely owner of Dixie Roofing is a typical example. Super wealthy nice guy who owns Paul Kossoff's Burst, you'll find him on all forums and social media platforms as Fried Okra, where he shares his collection and pics of him at home with his buddies. There's nothing wrong with this of course but I think its a contributing factor to why people keep paying so much for them.
    Kris is indeed a gentleman.

    However, super rich? The super rich don't have to divest themselves of an accumulated collection of prized non-vintage guitars to be able to afford a 'Burst.

     This is exactly what Kris both publicly and painfully ( for him...) did. There is a well known picture of a huge number of his Historics and Limited runs lined up in boxes waiting for UPS...along with some rather rueful postings from the man himself. 

    He sweated for his dream guitar, and I for one am as pleased as punch that he got it. I believe both Kris and Arthur were very happy with how it all went when he came over to get it. 

    Then there is the geezer who owns the Mick Taylor 'Burst, he carts it around in a padded gig bag, props it up on the nearest convenient chair, and walks away while the great unwashed play his guitar, and dine out on the fact for bloody years. 

    Then there's another Pal of mine in Londinium, not only will you get an invite to play probably the best collection of guitars and amps in the country, the geezer also feeds and waters you in fine dining places. Rarely does any of this hit the public airways....some of these collectors are very discrete, and rather grounded, humble people. 

    There are similar things going on in the USA, great generosity and grace.

    There are of course also the brash and loud, those that just love showing off...I love their guitars, but am frankly bored to death with the same old, same old pictures of false smiles, and new "acquisitions...." 




    I’m sure you’ve seen it Paul but Kris took the Kossoff Burst along to Paul Rodgers current Free tribute tour Free Spirit in the US on Friday night and let Paul’s guitarist Pete Bullick use it for the show! What an incredible experience for Pete and Paul and the crowd of Free fans!

    Also, our pal who has the Exile Burst, on the day we all played it and pawed over it, I asked him what it was like to own such an historical guitar (being a Burst AND an ex. Stones guitar) and he said the most joy he got out of owning it was being able to let players try it and use it and not have it locked away. Yes, it turned into an investment - as you’re aware he bought it in the early 80’s when it was just an old guitar for less than a second hand R9 as a lot of Burst owners did - but the VALUE of it for him was seeing other people enjoy it. And, while there are plenty of internet braggers, there are also a few fortunate people who have them and want to share the experience.
    http://www.ivisonguitars.com
    (formerly miserneil)
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  • GoldenEraGuitarsGoldenEraGuitars Frets: 8820
    tFB Trader
    "First, they're historical artifacts that represent post-war Americana at its best,"

    Tbh, if you can describe a guitar like that then it has to (imo) be a Strat or telecaster. Unless he meant the Korean War :)


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  • miserneil said:
    Strat54 said:
    I think one of the factors that is always overlooked and one that these wealthy guys don't like to admit to is that by owing one you are joining an exclusive ownership club where rock stars, guitar historians and very average players can come together, converse and socialise. 

    Here's the quote from the article...

     'That's a shame—but unlike my friend Joe Bonamassa'

    Joe isn't the only 'friend' you gain too. There are a number of other Burst loving pro guys who if you live in L.A or the like who you can become 'buddies' with. Its currency, its kudos, it is credibility for the ordinary but wealthy guys who quite often aren't so great players. This is reason enough for them to buy.
    Kris Blakely owner of Dixie Roofing is a typical example. Super wealthy nice guy who owns Paul Kossoff's Burst, you'll find him on all forums and social media platforms as Fried Okra, where he shares his collection and pics of him at home with his buddies. There's nothing wrong with this of course but I think its a contributing factor to why people keep paying so much for them.
    Kris is indeed a gentleman.

    However, super rich? The super rich don't have to divest themselves of an accumulated collection of prized non-vintage guitars to be able to afford a 'Burst.

     This is exactly what Kris both publicly and painfully ( for him...) did. There is a well known picture of a huge number of his Historics and Limited runs lined up in boxes waiting for UPS...along with some rather rueful postings from the man himself. 

    He sweated for his dream guitar, and I for one am as pleased as punch that he got it. I believe both Kris and Arthur were very happy with how it all went when he came over to get it. 

    Then there is the geezer who owns the Mick Taylor 'Burst, he carts it around in a padded gig bag, props it up on the nearest convenient chair, and walks away while the great unwashed play his guitar, and dine out on the fact for bloody years. 

    Then there's another Pal of mine in Londinium, not only will you get an invite to play probably the best collection of guitars and amps in the country, the geezer also feeds and waters you in fine dining places. Rarely does any of this hit the public airways....some of these collectors are very discrete, and rather grounded, humble people. 

    There are similar things going on in the USA, great generosity and grace.

    There are of course also the brash and loud, those that just love showing off...I love their guitars, but am frankly bored to death with the same old, same old pictures of false smiles, and new "acquisitions...." 




    I’m sure you’ve seen it Paul but Kris took the Kossoff Burst along to Paul Rodgers current Free tribute tour Free Spirit in the US on Friday night and let Paul’s guitarist Pete Bullick use it for the show! What an incredible experience for Pete and Paul and the crowd of Free fans!

    Also, our pal who has the Exile Burst, on the day we all played it and pawed over it, I asked him what it was like to own such an historical guitar (being a Burst AND an ex. Stones guitar) and he said the most joy he got out of owning it was being able to let players try it and use it and not have it locked away. Yes, it turned into an investment - as you’re aware he bought it in the early 80’s when it was just an old guitar for less than a second hand R9 as a lot of Burst owners did - but the VALUE of it for him was seeing other people enjoy it. And, while there are plenty of internet braggers, there are also a few fortunate people who have them and want to share the experience.
    Yeah I saw the clips on FB Neil, I thought it was as cool as fook...

    Our friend in Stockport, and it's owner went many miles out of their way to get that guitar into my hands, for no other reason than to help another enthusiast scratch an itch.Such grace.

     I wasn't rushed, nor made to feel awkward in any way. I think they got more enjoyment out of it than I did...which is really saying something. These old guitars give me so much pleasure...simple as that really. 

    Hope you're well Mate? 
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  • valevale Frets: 1052
    edited August 2018
    as for the op, the usual, as applies for anything else considered 'collectible' and so overpriced intrinsic value to market value.

    supply and demand, investment, perceived status among like-minded collectors for owning something they couldn't pay more than you for, wealthy people with more money and empty wall space than sense buying accessories, lots of reasons, none very musical.

    sometimes when i hear of guitars selling for tens (even hundreds) of thousands i wondered if it might be a good idea to have something like 'logan's run' for guitars, linked perhaps not to age (or maybe) but market value, which is so perverse and nothing to do with music.
    so once a mass-produced LP or tele etc reaches a market value of £10k (whatever) on the open market, it goes on the bonfire and is taken out of circulation, rather than a wall, glass cabinet or vault.

    and all that dead investment and speculation money that would have been tied up in it for years can be redirected into more musically meaningful and living things and activities;
    supporting new guitar builders (luthiers and small run), funding musical education, supporting musical events, even some sort of charity hardship and pension scheme that supports musicians who fall on hard times (illness, addiction, mental health, etc). money doing something useful rather than useless.

    exceptions could be made for guitars owned by famous people, as they have a genuine musical and historical merit. and perhaps handmade customs and one-offs.

    but if it's just markets and investments and mojo show-off bullshi*t, just burn them.

    how to redirect that money from investment into useful things i haven't worked out yet, but this is just thinking out aloud. an idea or premise for debate and development.
    hofner hussie & hayman harpie. what she said...
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  • OilCityPickupsOilCityPickups Frets: 9984
    tFB Trader
    vale said:
    as for the op, the usual, as applies for anything else considered 'collectible' and so overpriced intrinsic value to market value.

    supply and demand, investment, perceived status among like-minded collectors for owning something they couldn't pay more than you for, wealthy people with more money and empty wall space than sense buying accessories, lots of reasons, none very musical.

    sometimes when i hear of guitars selling for tens (even hundreds) of thousands i wondered if it might be a good idea to have something like 'logan's run' for guitars, linked perhaps not to age (or maybe) but market value, which is so perverse and nothing to do with music.
    so once a mass-produced LP or tele etc reaches a market value of £10k (whatever) on the open market, it goes on the bonfire and is taken out of circulation, rather than a wall, glass cabinet or vault.

    and all that dead investment and speculation money that would have been tied up in it for years can be redirected into more musically meaningful and living things and activities;
    supporting new guitar builders (luthiers and small run), funding musical education, supporting musical events, even some sort of charity hardship and pension scheme that supports musicians who fall on hard times (illness, addiction, mental health, etc). money doing something useful rather than useless.

    exceptions could be made for guitars owned by famous people, as they have a genuine musical and historical merit. and perhaps handmade customs and one-offs.

    but if it's just markets and investments and mojo show-off bullshi*t, just burn them.

    how to redirect that money from investment into useful things i haven't worked out yet, but this is just thinking out aloud. an idea or premise for debate and development.
    Nice idea of utopia ... but then we would have to burn all those beautiful 200+ year old orchestral instruments that though they might coat as much as a players house ... still get used and enjoyed. Classical musicians have a totally different attitude to old and valuable instruments and are prepared (and often able) to take out (due to their high earning potential) huge finance that basically means they will never own the instrument, but will pay for the privilege of being an instrument's 'custodian' for their playing lifetime. After they have finished with it ... rinse and repeat.
    Guitarists, most of us ... with our 'Saturday gig at the Dog and Duck will never earn enough to be able to strike such a deal even if  available for our instruments.

    Those musicians who can earn the bucks due to talent ... yes like Bonamassa (though I don't particularly like his playing) can and do buy vintage instruments to play ... and good luck to them. Sadly the guitar collecting market has priced the average Joe out of owning the cream of vintage instruments ... but then the average folk band fiddle player can't afford a Stradivarius. 

    I have no love for the stamp collecting mentality in the guitar market ... talentless speculation and greed sicken me too... but the guys who will drop a quarter of a million on a 'Burst' aren't suddenly going to get a dose of social conscience if you take 'old guitars' away as investments ... they'll just stick their money into Ferraris or whatever the next rising collectable is, not give it to worthy causes. 


     
    Professional pickup winder, horse-testpilot and recovering Chocolate Hobnob addict.
    Formerly TheGuitarWeasel ... Oil City Pickups  ... Oil City Blog 7 String.org profile and message  

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  • HarrySevenHarrySeven Frets: 8017
    JezWynd said:

    Some of the stuff Reverb does gives me a bad taste. Their fetishisation of gear, all based around taking a cut of the profits is pretty naff however they want to dress it up as historical interest.
    On a similar note, ever seen any “articles” by Soundgas? Makes great business sense talking up your current stock...


    HarrySeven - Intangible Asset Appraiser & Wrecker of Civilisation. Searching for weird guitars - so you don't have to.
    Forum feedback thread.    |     G&B interview #1 & #2   |  https://www.instagram.com/_harry_seven_/ 

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  • DanielsguitarsDanielsguitars Frets: 3261
    tFB Trader
    I have a lovely guy with a bloody fantastic vintage collection let me look at his stuff and compare etc, he said he loves others to try them and shouldn't be locked away and i agree or others just won't get how they look feel play and smell and i feel very privileged he likes my guitars enough to have me round if i ask

    I even think juniors are creeping out of my price range now which is a shame as i love these old guitars, i do have a 58 dc to restore because some asshole had butchered it, but that's the only way for me, i do go to great lengths to get as close as possible for us poorer folk that aren't so wealthy
    www.danielsguitars.co.uk
    (formerly customkits)
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  • I have a lovely guy with a bloody fantastic vintage collection let me look at his stuff and compare etc, he said he loves others to try them and shouldn't be locked away and i agree or others just won't get how they look feel play and smell and i feel very privileged he likes my guitars enough to have me round if i ask

    I even think juniors are creeping out of my price range now which is a shame as i love these old guitars, i do have a 58 dc to restore because some asshole had butchered it, but that's the only way for me, i do go to great lengths to get as close as possible for us poorer folk that aren't so wealthy
    That's the same for me too! Picking up my 59LP special that the fantastic @miserneil has been restoring for me soon. Picking up player grade guitars is about as close as i can get to vintage stuff. At least it means you can play the hell out of it and not worry about it loosing a load of value every time you put a dink in it. 
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  • RockerRocker Frets: 4947
    Hattigol said:
    Gassage said:
    If I were the editor of that piece I could sum it up in 3 words:

    Aspiration; Supply; Demand.

    No need for 1000 words on it.
    I'd probably go further and restrict it to two words:

    Wealth, foolishness.

    People like nice things especially if they are rare and hard to find.  That makes these things expensive. Spending a lot on your interests, if you can afford them, does not make you foolish. Why do people spend a couple of million on a yacht when you could buy one for a couple of thousand? Or a watch? Or a car? Rarity, exclusivity, quality - take your pick....
    Insanity: doing the same thing over and over again and expecting different results. [Albert Einstein]

    Nil Satis Nisi Optimum

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  • OilCityPickupsOilCityPickups Frets: 9984
    edited August 2018 tFB Trader
    Rocker said:
    Hattigol said:
    Gassage said:
    If I were the editor of that piece I could sum it up in 3 words:

    Aspiration; Supply; Demand.

    No need for 1000 words on it.
    I'd probably go further and restrict it to two words:

    Wealth, foolishness.

    People like nice things especially if they are rare and hard to find.  That makes these things expensive. Spending a lot on your interests, if you can afford them, does not make you foolish. Why do people spend a couple of million on a yacht when you could buy one for a couple of thousand? Or a watch? Or a car? Rarity, exclusivity, quality - take your pick....
    People pay a million for a yacht to sail it, buy a super expensive watch for the prestige and to tell the time, people generally spend a fortune on a Ferrari for the sheer pleasure of driving one ... I collect old pocket watches (but I wear them and use and maintain them as necessary).
    This is not quite the same as buying a 'burst' if you don't intend to play it. If it winds up in a vault or a glass case ... kept as an investment ... it's not in the slightest like a Yacht (I come from the Isle of Wight and grew up around the yellow wellie brigade and used to frequent Cowes week). Even the super luxurious multi million pound floating palace yachts are bought to be used.
    Professional pickup winder, horse-testpilot and recovering Chocolate Hobnob addict.
    Formerly TheGuitarWeasel ... Oil City Pickups  ... Oil City Blog 7 String.org profile and message  

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  • NeilNeil Frets: 3594
    Rocker said:
    Hattigol said:
    Gassage said:
    If I were the editor of that piece I could sum it up in 3 words:

    Aspiration; Supply; Demand.

    No need for 1000 words on it.
    I'd probably go further and restrict it to two words:

    Wealth, foolishness.

    People like nice things especially if they are rare and hard to find.  That makes these things expensive. Spending a lot on your interests, if you can afford them, does not make you foolish. Why do people spend a couple of million on a yacht when you could buy one for a couple of thousand? Or a watch? Or a car? Rarity, exclusivity, quality - take your pick....
    People pay a million for a yacht to sail it, buy a super expensive watch for the prestige and to tell the time, people generally spend a fortune on a Ferrari for the sheer pleasure of driving one ... I collect old pocket watches (but I wear them and use and maintain them as necessary).
    This is not quite the same as buying a 'burst' if you don't intend to play it. If it winds up in a vault or a glass case ... kept as an investment ... it's not in the slightest like a Yacht (I come from the Isle of Wight and grew up around the yellow wellie brigade and used to frequent Cowes week). Even the super luxurious multi million pound floating palace yachts are bought to be used.
    Plenty of people (myself included) collect watches as well and never, or very rarely wear them. A cheap quartz is probably a better timekeeper than most vintage watches. So why are they sought after? The burst effect? 

    Regarding super yachts, you don't think the owners "drive" them do you? They have staff for that.  ;)
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  • rossirossi Frets: 1699
    Why not ? If you have it spend it .If the world has deemed a 59 burst  the holy grail then  thats the one to collect .I was talking to a local car dealer who deals in   Ford Mustangs  on the side ,the new model not the classic .He told me the pre 2017 (not sure quite what year ) are  already more desirable  compared to the latest spec  due to Ford designing out the best bits .so it is with many things .You can show off your burst wall flower  to other rich  or not so rich party guests extolling its celebrity status with out playing a note .I mean no-one over paints a Renoir  with your own doodling so no need to play a collectors item .
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  • guitars4youguitars4you Frets: 14034
    tFB Trader
    Maybe an other point to consider is that in the grand scheme of things,an original 59 LP Burst is very affordable !!!!!! - I mean 'very affordable' when compared to many other 'holy grail' precious commodities - ie The highly desirable  treasures that are sold, often via the leading auction houses and appropriate agents, to those with appropriate funds - Be it art, jewellery, cars, carpets, gem stones, books, furniture, wine etc - No way am I going to get into a debate as to which is better, more desirable etc etc as it is a matter of taste and interest 

    See below why I'd rather spend $300K to $500K on a nice 59 LP burst, assuming funds available, compared to this 'orange balloon dog' - Sold at Christie's on 13/11/13 for $58.4 million - The world record price for a work by a living artist

    Item Balloon Dog Orange by Jeff KoonsProvenance Bought in the 1990s by Peter Brant It is one of a series of five in different colors The blue dog is owned by Eli Broad the magenta one by Franois Pinault the red by Dakis Iaonnou and the yellow Steven A CohenSold At Christies on November 13 2013 for 584 million the world record price for a work by a living artist 
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  • OilCityPickupsOilCityPickups Frets: 9984
    tFB Trader

    in fairness the balloon dogs are a bit larger than a burst :-)
    Professional pickup winder, horse-testpilot and recovering Chocolate Hobnob addict.
    Formerly TheGuitarWeasel ... Oil City Pickups  ... Oil City Blog 7 String.org profile and message  

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  • NelsonPNelsonP Frets: 3347
    edited August 2018
    Maybe an other point to consider is that in the grand scheme of things,an original 59 LP Burst is very affordable !!!!!! - I mean 'very affordable' when compared to many other 'holy grail' precious commodities - ie The highly desirable  treasures that are sold, often via the leading auction houses and appropriate agents, to those with appropriate funds - Be it art, jewellery, cars, carpets, gem stones, books, furniture, wine etc - No way am I going to get into a debate as to which is better, more desirable etc etc as it is a matter of taste and interest 

    See below why I'd rather spend $300K to $500K on a nice 59 LP burst, assuming funds available, compared to this 'orange balloon dog' - Sold at Christie's on 13/11/13 for $58.4 million - The world record price for a work by a living artist

    Item Balloon Dog Orange by Jeff KoonsProvenance Bought in the 1990s by Peter Brant It is one of a series of five in different colors The blue dog is owned by Eli Broad the magenta one by Franois Pinault the red by Dakis Iaonnou and the yellow Steven A CohenSold At Christies on November 13 2013 for 584 million the world record price for a work by a living artist 
    A fool and his money. They should have bought this one for £24....

    ...although to be honest the original one has a really nice fade on the gold that the new one doesn't have....

    https://www.etsy.com/uk/listing/274396250/the-balloon-dog-metallic-orange-table?ref=pla_similar_listing_top-2
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  • meltedbuzzboxmeltedbuzzbox Frets: 10337
    Maybe an other point to consider is that in the grand scheme of things,an original 59 LP Burst is very affordable !!!!!! - I mean 'very affordable' when compared to many other 'holy grail' precious commodities - ie The highly desirable  treasures that are sold, often via the leading auction houses and appropriate agents, to those with appropriate funds - Be it art, jewellery, cars, carpets, gem stones, books, furniture, wine etc - No way am I going to get into a debate as to which is better, more desirable etc etc as it is a matter of taste and interest 

    See below why I'd rather spend $300K to $500K on a nice 59 LP burst, assuming funds available, compared to this 'orange balloon dog' - Sold at Christie's on 13/11/13 for $58.4 million - The world record price for a work by a living artist

    Item Balloon Dog Orange by Jeff KoonsProvenance Bought in the 1990s by Peter Brant It is one of a series of five in different colors The blue dog is owned by Eli Broad the magenta one by Franois Pinault the red by Dakis Iaonnou and the yellow Steven A CohenSold At Christies on November 13 2013 for 584 million the world record price for a work by a living artist 
    I get what you are saying but 58+ million isn't 500k. 
    I know personally I'd rather have a Ferrari
    The Bigsby was the first successful design of what is now called a whammy bar or tremolo arm, although vibrato is the technically correct term for the musical effect it produces. In standard usage, tremolo is a rapid fluctuation of the volume of a note, while vibrato is a fluctuation in pitch. The origin of this nonstandard usage of the term by electric guitarists is attributed to Leo Fender, who also used the term “vibrato” to refer to what is really a tremolo effect.
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  • SporkySporky Frets: 27583

    in fairness the balloon dogs are a bit larger than a burst :-)
    Now that I like. A lot.

    Make it sparkly and I'll find the money.
    "[Sporky] brings a certain vibe and dignity to the forum."
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