The term refers to instruments or parts that were built at some time in the past, but which are in brand-new condition, and were never sold. In the 1960s, it wasn’t uncommon for a family-owned music store to have guitars and basses in stock that had been sitting in inventory for several years before they were finally sold. Some players actually search out such instruments, as well as certain parts, such as original power or preamp vacuum tubes that were built long ago here in the U.S.
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