Every banjo is worth more in many ways than what it will probably sell for if you put it on the market. It may help you remember a cherished family member long gone. It may give a youngster a chance to learn skills and musical principles that will last a lifetime. That said, when you try to sell a banjo, especially a student or off-brand banjo, you run into a different sort of valuation – the apparent value to a stranger who doesn’t know and love the instrument like you do.
That’s why when folks ask me the value of a banjo they’ve inherited, I’m becoming increasingly hesitant to answer. Instead I’ve put all the things I automatically take into consideration into an article so they can hopefully figure it out for themselves.