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Many people believe that NOS stands for nostalgic. Even though that would make perfect sense, it is a common misconception. NOS actually stands for "New Old Stock", which means that the guitar being offered for sale is in its original, unpackaged and unused condition. Whilst this may seem preposterous when relating to 1940s and 1950s Guitars,such items appear not infrequently in what the trade calls "Estate Sales".
These are sales by auction (or by private offer) of collections of guitars or the stockholdings of specialist shops whose owners have died or whose present illness obliges them to sell off their instruments to fund medical bills.
NOS guitars in the USA frequently come onto the market for the latter reason and the guitar-playing community tends to help out by paying accurate market prices for the instruments made available, rather than exploiting the vendor's situation for mercenary reasons.
Most NOS purchases tend to be made by people who play guitar, rather than by investors hedging up against inflation by stocking up on futures in artistic goods with an appreciating value.
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