Purchasing your first banjo can be an energizing and extraordinary event for artists of any level. However, you might end up asking yourself, ” How much does a banjo cost?” or ” How much do I need to pay for a beginner banjo?”

How much does a Banjo cost

Both of these questions are significant points to consider while picking a new banjo. To support you and other new learners through this issue, we have composed this article to help you realize the amount you should pay for your first banjo, and what you will be getting for it.

A banjo is a stringed instrument with a bit of animal skin or plastic stretched over a rounded frame. There are four string banjos, five string banjos, six string banjos, and even twelve string banjos. The most popular one is the five string banjo and it can be easily found.

Related: 4 string banjo vs 5 string banjo

Banjos are pretty direct when it comes to their price range. You get what you paid for it. The price of a new banjo reflects its quality. Try not to lose hope right now, this does not imply that you need to go above your budget to find a decent instrument.

What are the Prices of the Banjos?

Keep in mind, the price range of the banjos can vary depending on the models and brands. So if you are new to the world of banjos and wondering what you should pay for a quality instrument, then do not worry because we are about to dive deeper into the price ranges of the banjo.

A banjo is going to cost anywhere between $50 – $3,000 on average. Entry-level banjos are mostly affordable. For those who have started to play the banjo, a beginner’s kit with a lower-end model would be priced between $150 – $300 and it would surely be a decent purchase in case you are not sure you will stick with it or not. 

A decent mid-range banjo should cost between $300 – $425.  We recommend you to drop between $700 – $950 on a quality banjo such as the Deering Goodtime Banjo if you can afford it. Deering Goodtime is a well-known among the banjo enthusiasts.

So, you can be assured that if you buy a banjo from a brand like Deering Goodtime, it will be flawless, have an incredible sound, and it will last for a lifetime regardless of whether you are a weekend warrior or a professional musician.

how much is a banjo

As for the experts, you can custom build a banjo to your liking for between $2,000 – $3,000. This alternative is held for the most genuine artists, and unless you are a performer routinely touring, performing, and recording, a custom-built banjo might not be a suitable option for you. 

The prices of the banjos can also depend on which type of music you are going to play. Here are some of the prices:

  • Bluegrass Banjo: $400 – $1000+
  • Folk Music Banjo: $400 – $1000+
  • Country Music Banjo: $200 – $1000+
  • Clawhammer Banjo: $300 – $1000+

Prices of these banjos can also vary on whether it is an open back or a resonator-type. Here are their prices: 

  • Open Back Banjo: $300 – $1000+
  • Resonator Banjo: $300 – $1000+

As you can see, there are many banjos at various price ranges according to their types and brands. It may seem difficult to choose from and you might be thinking about how much should you spend. The good thing is that it is not that hard to decide once you learn a little bit more about the banjo itself.

The prices can vary upon the number of strings the banjo has and whether it’s an open back banjo or a closed back banjo. For example, you can find a 5-string anywhere at a reasonable price but it might not be the same for a 12-string banjo.

Deciding How Much You Should Spend on a Banjo

Picking the appropriate budget depends on your musical needs. Buying a banjo for the first time can be overwhelming but after you figure out what type of banjo do you need to learn the kind of music you want to learn, it becomes an easy task. There are some factors that can decide the budget for you. Here are some important points that you should consider:

Beginner

If you are buying your first banjo and have never played or taken lessons for any other instruments at all, you should start with a beginner’s kit since that is the best option for you. Beginner’s kits contain the basic items you would need to get started with the banjo, including a strap, picks, an instructional book with some music for beginners, a gig bag, a tuner, and a banjo. 

While these packs are relatively costly, they provide a decent value as you are getting so many extra items. You can get a cheap, moderately good quality unit at $300 or something like that, and they usually go on sale which means you will get them at even a cheaper price.

Also, don’t forget to see our post on best banjos for beginners

Intermediate

In case you have been already playing the banjo for a couple of years, and you are hoping to buy your second or third banjo, you most likely don’t need to bother with the beginner’s banjo kits and you can buy a banjo made of a higher caliber. 

If you are looking for high-quality banjos, all you need to do is search for a trustworthy band. Banjo brands, for example, Huber, Goodtime, and Goldtone use parts that will last a lifetime and give you a truly playable instrument. A Goodtime banjo or a Goldtone banjo could be the type of banjo you’re looking for. 

How much does a banjo cost

Most of the parts to inspect cautiously when you are looking for a banjo include the tuning pegs, the neck, and the bridge. 

A mid-level banjo can be bought within a price range of around $400 to $1,000, depending on the name of the brand, the instrument’s quality, and the country where it was manufactured in.

Professional

If you’re a professional banjo player with a lot of experience in playing the banjo, you may be in the market for a high-quality instrument. You might even wish to have a custom banjo built for you to suit your particular needs. Or on the other hand, you may choose to change course completely and balance your banjo collection by buying an electric banjo.  

Whether you want a custom-built banjo or an electric one, a professional banjo can be quite expensive. 

How much does a banjo cost? The appropriate answer to that question depends on you, but the right thing to do is to buy the best one that your budget permits you to afford. Going under or above your budget could be disadvantageous.

Final Thoughts

Regardless of whether you have a banjo teacher or not, or any instructional videos on how to play the banjo, the most important thing you’ll require is a banjo that can make your learning experience relatively easier. 

Purchasing a banjo comparative with your banjo playing abilities is fundamental to improving and saving as much cash as possible. A good value for money would be a Deering Goodtime banjo or a Goldtone banjo and could remain playable for a lifetime.

In case you’re a new learner, you would most likely prefer not to spend a ridiculous amount of money and if you’re an expert, you need a high-quality banjo that is worth the price. Try to make sure that you are getting a banjo that’s worth the money.