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The Cult guitarist Billy Duffy has spoken of his deep regret over selling his guitar, which cost him around $150,000.
Duffy used this vintage instrument during «"electric"» era of the band in the late 1980s, when The Cult were at the height of their fame. It sold for a high price, but thanks to the famous top-hatted guitarist, its value skyrocketed.
«"I bought a restored, but otherwise all-original 1959 Les Paul guitar for about $10,000," he says in the new issue of the magazine. Guitarist . "You can see it on YouTube because I used it in several TV shows dedicated to the album. Electric . I used it on stage occasionally, like at the BBC concert in London, but not all the time, only maybe for an encore, because I never really got on with it.".
Nevertheless, Duffy knew the guitar was valuable—anyone who spends $10,000 on an electric guitar knows exactly what they're buying. But it was the timing of the sale, more than anything else, that put the guitarist in an awkward position.
«"Remember," he says, "this was before Slash was famous, so nobody really wanted Les Pauls. Everyone wanted fucking Charvels.".
«"I, like an idiot, sold the guitar to [producer] Bob Rock for $10,000," he continues. "Then Slash became incredibly popular, and I immediately lost out on about $150,000 in profit. He still reminds me of that!"»
Well, at least he got his money back. But how close this sale came to changing the Les Paul's fate is simply astounding.
According to Guns N' Roses producer Mike Clink, Slash brought the Les Paul back into fashion thanks to the massive success of his debut album. Appetite for Destruction . Super-shredder guitars were incredibly popular at the time, as a whole generation of musicians aspired to emulate the king of the guitar world, Eddie Van Halen.
The irony, of course, is that the Les Paul guitar that belonged to Slash and was released as part of the project Appetite , wasn't actually a Gibson, but somehow it became a much-needed symbol of a guitar that had been considered outdated for much of the decade.
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For reference, the group The Cult released Electric in April 1987, just three months before Appetite awakened in the legion of guitar lovers, let's say, appetite to Gibson's flagship guitar. And while the record was a huge success, Bob Rock was probably laughing as he counted his earnings. Things don't always work out, Billy.
Duffy's full interview can be found in the new issue of the magazine. Guitarist , celebrating the centennial of the Gibson flat-top acoustic guitar. The interview also features Slash, who discusses his unexpected switch to Magnatone amplifiers.
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