Music aficionado Denis Desmond spent a tense Thursday afternoon, glued to his computer screen and phone. From a distance, he was keenly observing the auction of the Rory Gallagher collection at Bonhams auction house in London. The standout item in the collection was Gallagher’s 1961 Fender Stratocaster, originally purchased for IR£100 in 1963 from Crowley’s Music Store in Cork. The guitar was now being auctioned off for a sum of anywhere between £700,000 and £1.2 million.
The guitar in question was item number 62 on the auction list, which kept Desmond on his toes. “The wait was seemingly endless. The auction began at 3pm. We were informed that the guitar would be put up for bidding at about 4.15pm. However, even at 5pm they were only auctioning item number 32. I was growing impatient as I had a board meeting to attend.”
MCD’s financial director, Sean Browne, externally placed the bids for Desmond when the turn for the guitar finally arrived. The bidding process was initiated at £450,000, with consecutive bids rising to £480,000, £500,000, £550,000, £600,000, £650,000 and finally reached £700,000. The bidding fever came to a standstill when slick auctioneer Harvey Cammell attempted to coax another bid from the attendees and online bidders. “I can wait,” assured Cammell, with Desmond growing increasingly anxious watching from afar.
Being a promoter, Desmond was accustomed to bidding for acts, but those were fleeting. Rarity was the essence of Gallagher’s iconic Stratocaster, and items like that seldom come on the market. The final winning bid for the guitar was £700,000, the lowest estimated amount. Once additional charges and fees were accounted for, the total came to a whopping €1,068,956. “I kept asking Browne, ‘Is that ours?’, he affirmed, giving me a assuring nod,” Desmond reminisced.
When it comes to guitar enthusiasts, they concur that a favourable deal was struck. And he thinks the same. “We’re content with the price we paid. Our aim was to buy it, keep it in Ireland and we’re thrilled to have made it happen.”
The term “we” refers to Desmond’s company Live Nation Gaiety Productions which is jointly owned with Live Nation, a leading global player in the live music industry.
Negotiations with Mike Adamson, CEO of Live Nation Ireland – also a passionate follower of Rory – established the resolution to bid on the guitar. Further discussions with Mike Rapino, CEO of Live Nation, ensured his approval to proceed with the bid.
“The current owners of it are Mike Rapino of Live Nation and myself,” explained Desmond.
One interested party that could have presented a rival bid was the Irish Government, due to the strong desire for the guitar to return to its homeland. Adamson made an overture to the Department of Tourism, Culture, Arts, Gaeltacht, Sport and Media ten days earlier, assuring them that the guitar would be gifted to the State if their bidding proved successful. This made an official bid by the State unnecessary.
“You need a strategic approach. We were fortunate to receive support from the Government. All the pieces of the puzzle fit together perfectly,” affirmed Desmond.
“Our goal was to bring the guitar back to Ireland for public display, rather than it being confined to a private collection.”
Desmond admitted he had a maximum price in mind for the purchase but didn’t disclose it. He speculated that some potential collectors, including guitarist and collector Joe Bonamassa who publicly stated it should return to Ireland, seemingly didn’t participate in the auction.
Following the purchase, Desmond has been overwhelmed with messages and texts from people expressing their joy. According to him, it’s a heartwarming tale as, like Gallagher, he’s a fan of Rory Gallagher and a native of Cork.
“Rory’s music was a large part of my upbringing and I still enjoy it today. I relish his live album from 1974 and can’t stop playing his first Taste album.”
“There’s a profound affection for Rory in Ireland… I’m truly impressed with the response we received.”
The individual harbours the aspiration that some Irish guitarists can have a strum on it before it’s encased. “Imagine if the Edge could stop by and perform a couple of songs on it,” he said. He anticipates that the guitar will soon find a place in the National Museum of Ireland and at some point in the future, they would manage to place it in display at Cork.
Together, they also purchased Gallagher’s Vox AC30 amplifier at a price of £25,600 (€30,000) and the Dallas Rangemaster treble booster, which was initially estimated at £1,200 but was acquired for £12,800 (€15,371). These treasures will join display along with the guitar.