ONE of the oddities of recent years has been that while many sensible investments have floundered, some, thoroughly frivolous ones have prospered.

Contrast, for example, the disappointment of those sensible souls who put money into Equitable Life with a small band of hedonists who invested, if that's the word, in juke boxes. Not only have they often received handsome returns, they have had the fun of reliving their teenage years.

Tony Holmes is fascinated by vintage juke boxes. He's an expert on their history and combines business with pleasure by restoring them. Usually, around 20 are to be found in varying stages of renovation at his Juke Joint headquarters in Sheffield.

A decade ago you could have bought a 1956 Wurlitzer Centennial for £1,500. Now you would have to pay about £10,000.

While that is a spectacular example, it is still possible to pick up a classic juke box - for example, a 1957 Bal Ami, which was popular in British coffee bars - for about £1,200.

Other models - including Wurlitzer's famous rock 'n' roll machines from the mid-late 1950s - might cost between £3,000 and £5,000. But, Mr Holmes claimed, these have been rising in price by about 25pc a year. He explained that supply is limited and buoyant demand has pushed up prices.

Real fans usually go for pre-1962 models. After that, manufacturers stopped putting the playing mechanism on show, which diminished the popular appeal. Juke box enthusiasts include head teachers, lawyers and business executives, said Mr Holmes.

"Classic juke boxes continue to appreciate in value and their appeal is international," he added.

There are collectors' fairs where juke boxes may be admired and traded. Before buying a machine, potential buyers should do their homework.

"Machines which are now collectable were mainly manufactured between 1946 and 1962, and they were either made in - or under licence from - the US," said Mr Holmes.

"What we call gold age juke boxes played 78 revolutions per minute (rpm) records and were popular from the mid-1940s to the mid- 1950s.

"Silver age. 45rpm machines, ran from about 1954-1962. They had wrap-around glass windscreens, chrome fins and chevrons on the grills; very much like American cars of the era.

"Many juke boxes were made in Europe during this period. But they didn't look as attractive and it's now impossible to get parts; so they are not a good buy."

That is also true of later machines from the mid-1960s onward, he says. They often employed throwaway technology and can be picked up for less than £1,000 but are not a sensible investment because they are difficult to maintain.

"Another point to remember is that the supply of classic juke boxes is limited - if everyone thinking of buying one went out and tried tomorrow, there wouldn't be enough to go around." Mr Holmes suggests that a juke box bought for investment should either be acquired from a reputable restorer or, if buying privately. that advice be sought from an expert.

"For a machine to hold its value, it has to be as original as it can be.

"The design of the mechanism and the sound system needs to be as authentic and factory-correct as possible for it to be worth money in years to come.

"I can foresee juke boxes being put up for sale at leading auctioneers in the future. But they will have to be close to original condition.

"I come across machines that have been rebuilt sloppily with inappropriate replacements - they are like a Chippendale chest with

modern chipboard draws. The value is diminished, to put it mildly."

A genuine restorer will take advantage of the cottage industry that has sprung up around juke boxes. Now, several small businesses supply authentic replica parts for the classic models.

Once acquired, a classic juke box should require relatively little maintenance. "These are machines which may be 50 years old but they are simple and usually very reliable," said Mr Holmes.

"These juke boxes were over engineered. They were built to pump out pop music to bars and cafes eight hours a day, seven days a week.

---Now,private owners don't use them anything like that much. So, although they may occasionally need a fuse replacing, it is rare to find a motor failing.

-Problems are usual ' ly confined to people getting used to the machines and little idiosyncrasies such as playing records in the wrong order; a common hiccup.

"After a week or two, they have usually settled them in quite happily."

Most people buy old juke boxes for fun. They are a talking point around the house and good for dancing and parties - as they have been since the first electronically amplified multiselection phonograph was created by the Automatic Music Instrument Company in 1927.

Mr Holmes said: "When people have a windfall - or perhaps it's just a tax exempt special savings account (Tessa) maturing - they might buy a new kitchen or conservatory.

"On the other hand, owning a juke box is a lot more fun and may prove a more profitable investment."

Realistically, a juke box is no substitute for a pension plan. But, if you have already sorted out the serious stuff, it could help to make retirement more fun.

Back to top of page

'They were built to pump out pop to cafes eight hours a day, seven days a week'