Forget stocks and bonds. Invest in collectible guitars, says ZZ Top frontman

Key Points
  • Investing in guitars is "a good place to start," says ZZ Top's Billy Gibbons.
  • Six-strings are "a favorite of millions" and can be valuable in both new and old conditions, he tells CNBC.
Music legend Billy Gibbons on his six-string investments

Maybe you've considered investing in stocks, bonds or properties — but what about the six-string guitar?

"As far as investment goes, it's a good place to start," says rock band ZZ Top's frontman and guitarist Billy Gibbons.

Guitars are "a favorite of millions," he told CNBC's "Halftime Report" on Friday, and can be valuable in both new and old conditions. "It doesn't have to be something that's 50 years old these days. … Don't turn your back on it just because it's new," he said.

In addition to six-strings, Gibbons invests in oil, which has recently soared to 2½-year highs.

"The energy sector has really been rather robust in recent times, and it doesn't show signs of slowing down just yet. It's not a bad place to be," he said.

Others aren't so sure.

Harry Colvin, director and senior economist at Longview Economics, told CNBC recently in a phone interview that he was "pretty bearish" about the price of oil over the next three months.

"While we could easily see an escalation of tensions in the Middle East, in the absence of that, optimism is probably misplaced for up to six months. … Everybody seems to be facing the same way over oil at the minute, and it's when this happens that you need to be especially careful," he said.