Double bell euphonium
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The double bell euphonium was created to give the traditional euphonium more versatility, so that the instrument could better match other brass instruments, such as trombones or French horns, or to give a lighter sound when playing with bassoons and other woodwinds. Soloists also use the extra bell for special effects, such as echoes.
The last valve on the horn (either the fourth or the fifth, depending upon the model) is used to switch the sound from one bell to the other - both cannot play at the same time. On better horns, the playing qualities are fairly high with the large bell, and of a lesser (though still satisfactory) quality with the smaller. Each bell has its own tuning slide loop, such that they can be matched adequately for consistent performance. Unlike double French horns, there is only one set of valve slides with a double bell euphonium, so only the basic pitch of the two bells can be matched.
The last double bell euphoniums were made around 1960. They became extinct because of the extra weight and slightly degraded playing characteristics of the large bell as compared to a one-bell model. In practice, most double bell models ended up being used with the large bell only, effectively making the heavier instrument a single bell euphonium. As the famous euphonium soloist Arthur Lehman once said during a Marine Band concert, concerning the smaller bell, "We use it to hold our white gloves when we are not wearing them."
Double bell euphoniums are currently valued based upon a number of factors, including condition, number of valves, and supply and demand. Condition is often given the most weight in terms of setting a price to sell. Does the horn actually play? Is it loaded with dents? Do all the parts fit together well? Is the finish worn off significantly? Most such problems can be fixed, but they add to the realistic purchase price for the potential buyer. Furthermore, a five-valve version is typically worth more than a four-valve version, general conditions of the instruments being equal. Asking prices have recently ranged anywhere from $500 to $3000 US, and, as the double bell euphonium is no longer being manufactured, the limited supply of the instruments will likely continue to drive prices upward in the future.