Anyone want to buy a set of five Jennings machines?

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coppinpr
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Anyone want to buy a set of five Jennings machines?

Post by coppinpr »

Someone contacted my website to see if I know anyone who might be interested in buying his collection of 5 Jennings Bandits.
He describes them as a matched set of 5 pristine Jennings bandits that he has owned for 40 years, all totally original and un restored. There is a 5c, 10c, 25c,50c and a $1
Now for the disappointing part
He will not split the set, in fact, he has turned down $60,000 in 2010 for one machine that the owner of the Pittsburg Steelers wanted to buy (so he says).
So anyone interested he will take $125,000 for the set.........or very near offer !OMFG!
what a pity he's in the USA, Tom would have snapped them up!
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dutchboy
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Re: anyone want to buy a set of five Jennings machines?

Post by dutchboy »

Well that’s a bit of pocketmoney… you didn’t pick them right away? :D
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clubconsoles
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Re: Anyone want to buy a set of five Jennings machines?

Post by clubconsoles »

Greed, pure greed. Never sell them in his lifetime. Guess his family will sell for a tenth of that once he's passed.
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john t peterson
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Re: Anyone want to buy a set of five Jennings machines?

Post by john t peterson »

I've been checking between the cushions on my couch and have come up a bit short. Wonder if they'll offer an "Easy Payment over Time" plan?

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Re: Anyone want to buy a set of five Jennings machines?

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The strange thing is he's never owned any other slot machines..ever, only these, and to be honest I can't see the added value of all five the same with different coin values making a set? There is very good money there if sold separately,but surely not $60,000 per machine :!?!: He asked my advice and I said even in the US that's too much money and no one's going to buy the set... but he said I'm wrong, so not much point asking my advice. :lol:

Honestly, what do others think? What price would YOU put on the machines if sold individually, in the USA?
It will be interesting to see the average.
I'll start the ball rolling,and perhaps I'm way out of line but a Jennings Prospector console recently sold in the US for $8,500 and that is a much rarer machine, so I'm saying $5,000 per machine with the Silver Dollar going for a little more... maybe.. .on a good day. :!?!:
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Re: Anyone want to buy a set of five Jennings machines?

Post by moonriver »

If presented in the right casino showroom sales environment, catering for the super wealthy American sports and gambling fans then maybe that massive price tag could be achieved, since they'd drop more than that in one gaming session. Sometimes they'll only bite when something seems way over the top and extravagant, but the key is showcasing in exactly the right environment.
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Re: Anyone want to buy a set of five Jennings machines?

Post by badpenny »

God loves a trier.
The Devil looks after his own.

Some people's optimism is to be applauded, even if only because they believe everything is on their side.
However I suspect his posing the question was really a pitch to market them.
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Re: Anyone want to buy a set of five Jennings machines?

Post by chris roadhog »

moonriver wrote: ↑Wed Feb 02, 2022 11:43 pm If presented in the right casino showroom sales environment, catering for the super wealthy American sports and gambling fans then maybe that massive price tag could be achieved, since they'd drop more than that in one gaming session. Sometimes they'll only bite when something seems way over the top and extravagant, but the key is showcasing in exactly the right environment.
Nail on the head Mr Moony
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Re: Anyone want to buy a set of five Jennings machines?

Post by coppinpr »

badpenny wrote: ↑Wed Feb 02, 2022 11:49 pmHowever I suspect his posing the question was really a pitch to market them.
I thought so too at first but now I'm not so sure. He absolutely refuses to consider anything under $125,000 and believes their true value to be over $300,000!!
I agree a casino would be his only option and then only Vegas, Atlantic city or Macau. Covid has hit live casinos very hard and the accountants that run them these days are cutting back for a year or so in their usual panic mode. In the UK the live casino will never recover. The option for online casinos boosted by Covid has all but killed them.
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Re: Anyone want to buy a set of five Jennings machines?

Post by clubconsoles »

coppinpr wrote: ↑Wed Feb 02, 2022 11:16 pm I'll start the ball rolling,and perhaps I'm way out of line but a Jennings Prospector console recently sold in the US for $8,500 and that is a much rarer machine, so I'm saying $5,000 per machine with the Silver Dollar going for a little more... maybe.. .on a good day. :!?!:
I would agree the 3 lower denomination at $5k, the 50c will bring a premium.
I would say the Silver Dollar, $8.5k all day, $10k to the right collector.
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Re: Anyone want to buy a set of five Jennings machines?

Post by cheeky »

$25k tops, not $125k. I think he may have got his numbers wrong. !PUZZLED!
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Re: Anyone want to buy a set of five Jennings machines?

Post by coppinpr »

Oh, I think he's got more than his numbers wrong. He now tells me he has had them appraised at $300,000 and wants to sell at that price now. :o Sorry Tom, you should have grabbed them at $125,000. :#:
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Re: Anyone want to buy a set of five Jennings machines?

Post by treefrog »

I think you have a troll following you. Ask him if he will ship to North Korea.
:HaHa:
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Re: Anyone want to buy a set of five Jennings machines?

Post by john t peterson »

For the most part, I hate appraisals. They remind me of the acerbic comment by H L Mencken about critics (paraphrased): "They know the price of everything and the value of nothing." An appraisal is basically the same as an oral contract: worth the paper it is written on. The key is to ask the appraiser what he or she would pay for the item, today, not what they think some punter would pay in the future. I'm guessing that the appraiser in this case was the fellow's mother.

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Re: Anyone want to buy a set of five Jennings machines?

Post by badpenny »

john t peterson wrote: ↑Mon Feb 07, 2022 4:47 pm ... comment by H L Mencken about critics (paraphrased): "They know the price of everything and the value of nothing."
Actually Old Bean, Mencken quipped that the chief value of money lies in the fact that one lives in a world in which it is overestimated.
Over here we associate Oscar Wilde with knowing the price of everything and the value of nothing.
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Although my personal favourite from Wilde is "The only way to get rid of temptation is to yield to it... I can resist everything but temptation."

My favourite Mencken is β€œOn one issue, at least, men and women agree: they both distrust women.”

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Re: Anyone want to buy a set of five Jennings machines?

Post by pennymachines »

Mencken also said, "If women believed in their husbands they would be a good deal happier and also a good deal more foolish."
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Re: Anyone want to buy a set of five Jennings machines?

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john t peterson wrote: ↑Mon Feb 07, 2022 4:47 pmThe key is to ask the appraiser what he or she would pay for the item,
You're missing the point John, the cost of the appraisal is a % of the value he puts on the item !THUMBS!
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Re: Anyone want to buy a set of five Jennings machines?

Post by coppinpr »

just to keep everyone up to date on the saga of the 5 Jennings masterpieces, The seller keeps asking what I and others think they are worth.....then doesn't like it when I tell him :!?!:

One small point in his favour, it now transpires he personally bought these from Calogero Minacore (and has the paperwork to prove it) the very important organised crime boss of New Orleans and Louisiana (Minacore was heavenly implicated in the possible involvement of organised crime in the Kennedy assassination (The Kennedys had taken a personal interest in having him arrested in 1961)). Minacore(also known as Carlos Marcello) had an "interesting" career, he was arrested in the 1930s for selling a massive 10kg of marijuana.(he served only 10 months and a fine of $400 thanks to a deal with the governor) As far as slots are concerned he is known to have been allotted a share of the Vegas casinos organised crime cut and that he controlled all the casinos in Louisiana by 1948 and was importing and placing illegal slot machines into the state via Frank Costello in New York so there is a link there.
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Would it make a difference to the sale price? possibly, especially if a casino bought them and the provenance pans out, but to that high price, I doubt it
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