What I take from these interviews is that there is still a promising financial future in investing in vintage guitars. As has always been the case, some guitars will appreciate in value more than others. Now might be a good time to buy while prices are down if you are willing to hold onto the guitar for a while.

While celebrity collectibles have been a good investment for years, guitars themselves have largely been overlooked. However, the guitar was perfected between the 1930s and the 1960s, depending on the model, and instruments from this period are highly regarded. Some people think that in fifty to a hundred years, guitars from the mid 20th century will be thought of in the same way as violins and cellos from the 17th and 18th century.

The appeal of any guitar grows over time, and there hasn't yet been a period when the market sank. That makes a vintage guitar a great investment choice, as well as a visually and emotionally rewarding collectible. There's nothing like being able to say that you own the guitar once played by a legend.

Values only continue to go up, too. While a 1959 Fender Sunburst Stratocaster, one of the most famous types of guitar, originally cost about $250, it brought between eight and nine thousand dollars in 1997. Today, you might have to pay seventeen thousand for a model with a slab fingerboard.

Recent stock market unpredictability has meant that people are more interested in guitar collecting. These vintage instruments are a great type of protected investment. For collectors who want to cover all the bases, consider a varied collection - acoustic, electric, exotic, antique, vintage, contemporary and even custom guitars.

Over the past couple of years the vintage guitar market has taken a hit here and there but overall has proven to be a sound investment for most. The experts say that when inflation accelerates and the dollar shrinks collectibles prove to be a good place for your money.

People are starting to realize how much these instruments from the 50's 60's, and 70's really meant to our culture.

There is a very limited supply and there still seems to be a high demand for these pieces of history which has proved to be a good choice for those who have invested in these instruments, such as the Gibson Les Pauls' and Fender Telecasters and Stratocaster's from the same era. (50's, 60, and 70's).

A good place to start collecting vintage guitars as an investment would be to focus your research on obtaining guitars from the list below. This list includes that have been inducted into Vintage Guitar Magazine’s Hall of Fame. There are, of course, other lists and other guitars worth investing in, but this is certainly a great place to begin.

In the coming weeks, I will be featuring each of the exquisite instruments in detail. This information will prove useful in your search for vintage guitars that will provide a good return on your investment.

Gibson SG Standard

Inducted in 2009
By 1960, declining sales of the Les Paul model had Gibson looking to revamp the guitar. So the company gave it a radically redesigned, much thinner (and lighter!) body intended to better compete with Fender's Strat. But the things that made up its very heart and soul - especially its humbucking pickups - remained. Today, the early-'60s version is a true classic.

Gibson Les Paul Model (Goldtop)

Inducted in 2008
Les Paul tried for years to convince Gibson it needed a solidbody in its line. Finally, Ted McCarty brought a single-cut experiment guitar to Les for his approval. Though its origianl bridge/tailpiece was far from perfect, the instrument served as Gibson's test bed through the '50s. Eventually, it reached the pinnacle among guitars and today sits among the top collectibles.

Gibson J-45

Inducted in 2007
Martin's "dreadnought" flat-tops were big and dominated the guitar market of the 1930s. By the early '40s, Gibson knew it needed a big flat-top to compete, and he J-45 ("J" for Jumbo, "45" indicating its price in dollars) was it. A 16" round-shoulded flat-top, even in the tough times of its launch, it received a very warm welcome and has ever since remained one of - if not the - most popular Gibson guitars.

Fender Jaguar

Inducted in 2006
Jumping on the speeding Fender bandwagon in 1962, it helped the company stay on top throughout the decade, with its fancy new vibrato tailpiece, sophisticated electronics, and (usually) a funky custom color. If you played instrumental rock at the time, you either had one of these or you were probably ignored!

Gibson ES-5

Inducted in 2006
One of the first guitars built after Ted McCarty took charge of Gibson, it helped solidify the company's position as the world's preeminent electric archtop maker. Today, its late-'50s variant with three PAF humbuckers and Switchmaster tone control is one of the most collectible of its ilk.

National Tri-Cone series

Inducted in 2005
Its warm, sustaining tone emanates from three aluminum "resonators" designed to help guitarists stand out in big-band or orchestra settings. But, soon after being introduced, Nationals were adopted by Hawiian and blues players. Today, the Tri-Cone produces what many consider the ultimate acoustic blues tone.

PRS Custom

Inducted in 2004
The first production instrument from a company that has become the guitar's preeminent modern success story.

Gretsch White Falcon

Inducted in 2004
Like many great guitars, it has evolved through several versions. But it has been a classic since day one, for both it sound and utterly unique aesthetic.

The 1954-'56 Gibson Les Paul Custom

Inducted in 2003
Can you say "Black Beauty?" Though Gibson didn't give it the name, Les Paul himself chose black as the secondary color for the guitar bearing his moniker. Gibson did, however, use it to experiment with a three-pickup configuration and to introduce its famed Alnico-magnet pickup.

Fender Jazzmaster

Inducted in 2002
Designed and marketed by Leo to cut into Gibson's jazz market, it supplanted the Strat at the top of Fender's line in 1958. And though its sound kept it from catching on with jazzers, garage surf bands of the day ate it up. It is one of the most copied solidbody designs of all time.

Gibson SJ-200

Inducted in 2002
A landmark amongst acoustic flattops, the SJ-200 was designed for cowboy guitarist Ray Whitley, and any cowboy worth his salt played one. Its popularity carried over to other genres, and never faded. From its jumbo-sized, sunburst-finished body to its ultra-fancy pickguard, bridge, and headstock, it was considered the consummate flat-top. Just ask Emmylou!

Gibson ES-150

Inducted in 1999
Gibson's first electric Spanish guitar was also the first good-quality electric to hit the market. Favored by Charlie Christian, it housed Gibson's first pickup, which is still in high demand and considered a classic.

Martin D-45

Inducted in 1998
Originally the fanciest of Martin's innovative dreadnought line. If you had one of the 96 made in the 1930s and early '40s, your net worth would be considerably higher than it is now.

Rickenbacker 360/12

Inducted in 1997
It was good enough for George Harrison and gave us the "jingle jangle" of Roger McGuinn. That's more than enough for the 360/12 to be the only 12-string in the VG HoF.

Gibson Flying V

Inducted in 1996
One of the most distinct guitar designs ever created, but it wasn't a hit when it came out in 1958. Rock and rollers discovered it the late '60s and the V still makes a unique statement today.

Gretsch 6120

Inducted in 1996
If you play rockabilly, you better have one of these! Introduced as the Chet Atkins Hollowbody in '54, the 6120 soon shed the "G" brand and western inlays of the early versions, but never lost the Western Orange finish or the cool twang.

Fender Jazz Bass

Inducted in 1995
With its two specially designed pickups, offset waist, and slimmer, narrower neck, the Jazz Bass was intended to be the more tonally diverse, slicker-playing descendant of the Precision. The fact it was available in Fender custom colors (often with matching headstock) makes it all the more cool.

Gibson L-5

Inducted in 1994
Introduced in 1922 and with a design guided by the legendary Lloyd Loar, the L-5 was the first modern archtop guitar. Initially a non-cutaway acoustic, the L-5 went through many changes, ultimately becoming a single-cutaway with two humbuckers.

D'Angelico New Yorker

Inducted in 1993
George Gruhn said of it in the March 2000 issue of Vintage Guitar, "The New Yorker is significant due to its superb quality and aesthetic artistic appeal," and is "one of the finest guitars in the history of the instrument."

Gibson Super 400

Inducted in 1993
Introduced in 1934, with its 18" body and deluxe features, the Super 400 was the largest and most expensive guitar in the Gibson line. Its influence was soon apparent in the designs of many of the great archtops built by others. Whether the earlier non-cutaway acoustic version or the later double-pickup cutaway, it remains a true work of art.

Fender Precision Bass

Inducted in 1992
The first bass in the VG Hall, and why not, it only forever revolutionized how the bass was played. One of the most innovative ideas in modern music history.

Gibson ES-335

Inducted in 1992
Born during Gibson's "golden era," the semi-hollow body ES-335 wedded archtop looks with solidbody performance. Whether it has dot inlays or blocks, it remains one of the coolest designs in guitardom.

Martin D-28

Inducted in 1991
The first acoustic in the VG Hall, the D-28 launched Martin's line of incredible big and loud dreadnoughts in 1931. The D-28 has inspired many guitarists and builders, and remains one of Martin's most popular models.

Fender Telecaster

Inducted in 1991
Leo Fender's timeless classic is about as simple as an electric guitar can be, but still has the magic to appeal to guitarists playing just about any style of music. Every guitar player has a Telecaster (or should). Along with the Strat and Les Paul, the Tele is among the most popular designs around.

Fender Stratocaster

Inducted in 1990
The VG Hall of Fame was started in 1990 and we had little doubt the Strat would be among the first instruments selected for inclusion by our readers. Three single-coils, a vibrato (usually), and that great contoured, offset-double-cutaway body. Some 50 years after its introduction, it is still one of the most popular designs.

Gibson Les Paul Standard ('Burst)

Inducted in 1990
Also an easy first-year selection, LP Standard was introduced with a sunburst finish in 1958, and the '58 to'60 models are the most valuable vintage solidbody guitars. The Les Paul Standard is a classic no matter what finish it bears.

As both a dealer and appraiser of vintage fretted instruments I am faced with the daily necessity of placing dollar values on instruments. Any appraisal or price determination is to a certain degree the subjective judgment of the particular dealer or appraiser involved, however, the figures that I or any other dealer or appraiser place on instruments are firmly based on our knowledge and experience of the market involving supply, demand, and prior precedent for instruments of this type. While there is no one simple formula that a dealer or appraiser uses for evaluations, the following factors are critically important:

1. Maker
Instruments made by famous luthiers or manufacturers are far more sought after than those by lesser known makers. A great sounding guitar by an unknown luthier may have intrinsic merit and value as a utilitarian tool, but it will rarely sell for as much money as a well known model by a famous maker even if the instrument by the lesser known maker may sound better. Typically famous makers achieve recognition because their instruments are indeed superior to those of lesser known luthiers. Martin, Fender, Gibson, D'Angelico, Stromberg and other such makers did not achieve their great recognition without having justly earned it. While new luthiers are continually appearing on the scene and some produce very fine instruments, it usually takes a number of years for a maker to establish a strong enough reputation for his instruments to command high prices.

2. Model
Some models are far more sought after than others. In the case of Martin guitars, for example, dreadnought size instruments tend to bring more money than the smaller O, OO and OOO guitars, although the actual cost of manufacture varies very little with the size of the instrument. An O, OO or OOO-18 costs virtually the same amount to manufacture as a D-18, but the demand for vintage, used and new D models surpasses that of the smaller guitars such that the D models will bring more money. Similarly Fender Stratocasters and Telecasters are more sought after today than vintage Jazzmasters, Jaguars or hollowbody Coronado models of the same age. In spite of the fact that the Jazzmaster, Jaguars, and Coronados may have cost more when new, Telecasters and Stratocasters are more sought after and bring more money today. Similar examples can be stated for virtually every manufacturer.

3. Age
Older is not necessarily better, but virtually every manufacturer has had periods which buyers and players view as their "Golden Era." Pre-CBS Fenders are more sought by collectors and musicians than the later models. Martin guitars of the 1930s are held in far higher regard and command higher prices than the later models. Gibson Les Paul Standards made between mid 1958 and 1960 featuring patent applied for humbucking pickups, curly maple tops and cherry sunburst finish command far higher prices than the earlier gold top Les Paul models with single coil P-90 pickups and certainly greatly more than any of the later Les Pauls.

New instruments by major manufacturers such as Martin, Gibson, Fender and Taylor are of fine quality and without doubt are suitable for professional use on stage or in the studio, but many collectors and musicians view models of the "Golden Era" as being superior. It should be noted that a company such as Martin which has been in business since 1833 had employees during the 1930s who were routinely longer tenured with the company and more skilled at hand work than those employed today.

In the case of individual luthiers the trend in this respect is quite different. The finest instruments by any skilled hand builder are likely to be his most recent ones. Just as Stradivarius built far better violins when he was 75 years old and had many years of experience than he did when he was only 16, a skilled hand builder such as Stromberg, D'Angelico or D'Aquisto or modern builders such as Benedetto, Monteleone, Kim Walker, Steven Gilchrist and numerous others are more experienced today than they were twenty years ago. If, in fact, a hand builder's older instruments were worth more than his latest creations, that would amount to a statement on the part of buyers that in their opinion the maker had either learned nothing new in the past twenty years or had in fact actually slipped.

4. Condition
Condition needs to be evaluated in terms of cosmetics and structural concerns. Needless to say, a cosmetically clean example in original condition is worth more than the same make, model and year instrument which is highly worn although still structurally stable. Structural concerns, however, are fully as important if not more so than cosmetics. It is quite possible for a vintage instrument to have little if any playing wear but still have major structural problems. In most cases loose glue seams, warped necks or poor neck set angles can be fixed to be invisible and structurally fine. Cracks and other such structural damage are greater problems. In the hands of a skilled restorer many cracks can be made to virtually invisible, but such work is very time consuming and expensive. Re-gluing loose seams or braces or resetting a neck, in my opinion, constitutes normal maintenance and does not lower the value of the instrument.

Just as there are no violins of the 1600s and 1700s in use today which have never had maintenance such as re-gluing of loose seams and replacement of worn out fingerboards or even far more drastic work, it is essential to be aware that acoustic guitars of the 1920s and 1930s are old enough today that virtually all of them have either had or now need some maintenance to be kept in good playing order.

When I started collecting guitars in the mid 1960s it was relatively easy to find Martin and Gibson guitars of the 1930s and Gibson and Fender electrics of the 1960s in excellent playing order without need of restoration, but today an instrument of the 1970s or early 1980s is older than many of the "Golden Era" vintage instruments were when I started out.

5. Originality
As I have discussed in previous columns, originality is critically important. Obviously a forgery is not nearly as valuable as an authentic original instrument. A highly modified instrument such as a Martin D-28 which has been inlaid to resemble a Style 45 or a Gibson Goldtop Les Paul which has had the top finish stripped and redone to sunburst and P-90 pickups removed to be replaced with later humbucking pickups will not have nearly the appeal of an authentic original pearl trimmed Martin or late 1950's sunburst Les Paul.

Collectors place a great premium on a fully original pristine condition example of a prime collectible model, but such pieces are becoming increasingly more and more difficult to find as each year passes. A beautiful original pre World War II Martin with an expertly done neck set such that the work is invisible and the guitar plays perfectly will have a value virtually the same as a pristine example. Similarly, re-gluing of loose glue seams or loose braces is not a major consideration.

On the other hand, refinishing or restoration of major structural defects, however well done the job may be, will result in an instrument of lesser value than one which is pristine. Needless to say, an expert restoration of structural and cosmetic defects such that the work is virtually invisible will result in an instrument of far greater value than one which needs work or has been poorly repaired. Much of the time and effort put into instruments in the Gruhn Guitar repair department is spent undoing poor previous repairs. It is far easier to work on an open but un-repaired crack than to fix one which has been firmly glued with epoxy in the wrong position.

I am frequently asked if repairs will lower the value of an instrument. If it were true that any repairs simply resulted in depreciation, I would immediately be able to lay off seven of my most expensive employees. Needless to say I have not done so because it is my opinion that proper restoration greatly enhances the value of instruments. While I like to see instruments in totally pristine unplayed condition, the fact remains that these guitars, banjos and mandolins were made to be played and enjoyed and over the years they do become worn and need maintenance.

Worn out original frets result in a guitar which is unplayable and worth less than one which has been expertly refretted. Over the years wear, natural aging and unfortunate accidents can and will happen. The work of a truly expert restorer should be virtually invisible. It can be said as a compliment that the work of a luthier may be as distinctive as his signature such that it can be identified from across the room at a glance, but the same comment applied to the work of a repairman or restorer would be an insult. A truly superb restorer leaves no sign that he was ever there. An instrument with cracks, loose bracing, worn frets, poor neck set angle or other such problems is worth far less before restoration than afterward if the work is properly done. There are plenty of repairmen who can refret, glue loose braces and do set up work, but remarkably few who can take a crack and make it structurally stable and visually virtually invisible. At Gruhn Guitars we pride ourselves in having one of the finest repair shops in the world, but we take great pains to accurately represent all instruments we offer for sale such that repair work is disclosed.

6. Supply versus Demand
Some instruments are extremely rare but rarity is not necessarily to be equated with desirability. Instruments may be rare for a variety of reasons. Since individual luthiers build based on orders and manufacturers produce instruments based as well on dealer and customer demand, rarity can be a sign that a model was not well accepted by the public. A model can be very rare because the company received no orders do to lack of public interest. Examples of instruments which are rare because there was little if any public demand when they were made would be Gibson Victory guitars and basses and Martin pre-World War II archtop f-hole guitars.

Some instruments are rare because they were introduced ahead of their time. The Flying V and Explorer Gibsons of 1958 and 1959 are prime examples. These guitars were so radical that they were laughed at, in spite of the fact that they were very fine sounding instruments. It was not until many years later that they were recognized as being great collector's items not only for rarity but due to their historic significance and extraordinarily fine quality. Today there are not only Gibson made V's and Explorers but over the years these designs have inspired makers such as Hamer, Kramer, Ibanez, Dean and numerous Japanese, Korean and Chinese knock-offs such that there are now hundreds of thousands of instruments which owe their direct lineage to the extraordinarily rare 1958 and 1959 originals by Gibson.

Other instruments are extremely rare because they were introduced too late. The original 1922-24 Lloyd Loar-signed and dated Gibson F-5 mandolins are a prime example. The mandolin craze died after 1921, but the F-5 was not introduced until mid 1922. It would be much akin to introducing the finest buggy whip in the world after the invention of the automobile. People simply did not care how good a mandolin was. There was no demand for one until Bill Monroe introduced bluegrass music in the mid 1940s.

Today an original Loar signed F-5 will bring well over $100,000, but in 1922-24 nobody cared. Gibson flat-head Mastertone banjos of the 1930s are another such example. The demand for banjos was minuscule after the Dixieland movement died by the end of 1928. During the 1930s when the flat-head Mastertones were made there was a strong demand for arch top f-hole guitars, but it was not until Earl Scruggs popularized flat-head Mastertones during the mid 1940s onward that there was any demand for such an instrument.

Interestingly enough the sunburst Les Paul Standard of mid 1958 through 1960 is another such example. There were far more Gibson Les Pauls made during 1952, 1953 and 1954 than in 1958, 1959 or 1960. The sunburst Les Paul may well be the ultimate Les Paul model guitar, but it was introduced at a time when the demand for these instruments was falling.

It is exceedingly difficult to kick start demand by introducing a better model instrument once the demand for this style is waning. Numerous companies have tried but failed in such attempts. The fact remains that the finest mandolins and banjos were made after the demand for these instruments had passed. The vintage originals of the "Golden Era of Production" are not necessarily those made during the "Golden Era" of the music itself. Sometimes an instrument is designed for a specific type of music only to become truly popular with collectors and musicians at a later date once it is discovered that this type instrument can be used for a totally unforeseen function. Lloyd Loar did not envision chord chop rhythm to drive a five piece bluegrass band with a mandolin, but the fact remains that the F-5 took on a whole new life when Bill Monroe picked it up. Similarly Leo Fender did not anticipate what Jimi Hendrix would do with a Stratocaster nor did the Gibson design team of the 1950s envision the rock and pop scene of the 1970's to the present.

Some instruments such as D'Angelico, Stromberg and D'Aquisto guitars are rare because they are hand made masterpieces by an individual luthier who was incapable of high output. D'Aquisto had a minuscule output ranging from about seven to twelve instruments a year. D'Angelico was only slightly more prolific but lived longer and produced guitars over a greater time span resulting in more total output. Stromberg guitars of the late period from 1940 through 1955 are among the finest rhythm guitars ever made by any luthier, but the early Strombergs prior to 1940 are relatively mediocre instruments. In view of the fact that these are superb instruments made by a tiny workshop for only fifteen years, the total number of such pieces is extremely small resulting in great rarity.

Some instruments are rare due to the fact that they are limited edition "instant collectibles." Martin, Gibson, Fender, Rickenbacker, Taylor and numerous other manufacturers are producing pieces of this sort. I have written a great length on this topic in Vintage Guitar magazine as well as in previous columns. Suffice it to say that I do not consider these to be the ultimate investments. Just as I would not recommend collecting Franklin Mint replicas of Samurai swords or Civil War swords rather than having the originals, it is my opinion that instruments made as deliberate limited editions are frequently not particularly good investments.

On the other hand, it is my opinion that there are some superb new instruments being made today both by individual luthiers and manufacturers such as Martin, Fender and Gibson. The Fender Custom Shop models as well as their Masterbuilt instruments and Martin "Golden Era" guitars as well as Gibson Custom Shop Historic models are of exceptionally fine quality. How they will stack up in the future as collectibles remains to be seen.

Clearly, the instruments we view as "Golden Era" collectibles today were once production instruments made to be used and played. It is my opinion that the best new instruments produced today do indeed have the potential to be collectible in the future. It is, however, difficult to predict future values. Much depends on what the manufacturers and luthiers producing these instruments today do in the future. If, for example, a company goes out of business or lowers its standards of quality due to a change of ownership or any other reason, the higher quality instruments of today could become highly collectible in the future. If, on the other hand, new instruments twenty years from now are made to the same or even better standards of quality than the guitars of today, the current models may not appreciate nearly as much.

While rarity alone does not make an instrument desirable, in some cases obviously it is a factor for consideration. Unlike postage stamps or coins in which rarity is everything, musicians want instruments of great quality. Demand for sunburst Les Pauls is far greater than for Les Paul Customs of the same age or for numerous other models which may in fact be more rare. Gibson made over 1500 sunburst Les Pauls from mid 1958 through 1960, but there are millions of people who would like to own one and have bid up the prices such that prime examples can be over $150,000. There are, on the other hand, instruments of which less than a dozen were made but for which there is little demand resulting in prices under $1,000.

7. Sound and Playability
Obviously as a musician, sound and playability are of paramount importance; however, in evaluating vintage instruments or setting prices I do not generally take these factors into consideration. The reputation a particular make, model and age instrument has is not an accident. The pieces which command high prices have a reputation such that one of a particular make, model, and year is typically extremely good, but tone and playability are rather subjective. It should also be noted that if a guitar is not set up in good playing order and does not, as a result, sound good or play well, it can be worked on such that in all probability it will play just fine. If I have two guitars of the same make, model, and year, one of which is extremely clean but in my opinion does not sound especially great compared to another one which is in rougher physical or cosmetic condition but which I think sounds great, I will still get a higher price for the cleaner one.

8. Prior Precedent
While any evaluation is based to a considerable degree upon the knowledge and subjective judgment of the dealer or appraiser, prior precedent figures prominently. When evaluating instruments I take into account prices I have previously been able to get for similar instruments as well as prices other dealers with whom I am familiar have gotten. "Blue book" prices are based on dealer input which usually involves their prior precedent in sales. Prior precedent of "asking prices" versus actual sales figures are less relevant to me. Asking and getting are not one and the same. As I have previously stated, I do not go strictly by blue book values. It is my experience that all too often blue book prices can be either higher or lower than my own experience dictates. It should also be noted that neither do I go strictly by previous achieved prices. I take into account current market conditions. If I get an instrument which is an extremely prime example or if in my judgment the market has heated up such that an item is now in greater demand than it would have been the last time I had one, I will ask more.

Needless to say it requires a very skilled and experienced appraiser to take all of these factors into consideration. It is not possible to price guitars simply by picking up any of the so-called "blue books." Some of these books are better than others, but in my opinion none of them are totally accurate nor do I use any of them extensively for setting prices of my own inventory or in comparing appraisals. None of the blue books are helpful in identifying an instrument or determining its originality. In order to do an appraisal one must first properly identify the piece. Not only must one determine the make, model and year, but one must be certain that it is in fact original and one must determine the extent of any modification or repair.

9. Memorabilia Appeal
Instruments which have been owned and used by celebrities have memorabilia appeal. Frequently their appeal to fans of a particular performer may result in prices far higher than they would otherwise command.

The base line value for any memorabilia piece is the amount this piece would bring if it had been owned by nobody special. While there is no way to apply a simple formula or "blue book" yardstick in evaluating memorabilia, I try to take in to account the importance of the former celebrity owner, how many instruments he or she had, how extensively they used this particular instrument, and what if any track record there may be for previous instruments placed on the market which have been owned or used by this performer.

Typically, instruments owned by deceased celebrities will bring more money than those owned by living artists, but it is just as critical to determine how many instruments an artist may have had and how frequently such pieces come on the market. For example, Bill Monroe used one 1923 F-5 mandolin throughout most of his career, whereas Eric Clapton, Billy Gibbons, and Rick Nielsen of Cheap Trick, have owned hundreds of instruments. Typically, an artist who has had hundreds of pieces go through his hands will not add as much value to a guitar as an equally prominent artist who has used only a few instruments in his career, however, it is worthy of note that in a charity auction some of Eric Clapton's guitars brought astronomical prices. The ones which brought in excess of $100,000 were, however, instruments which he used a great deal. Some which he had barely touched still brought as much as $50,000 but it is my opinion that had they been offered in anything other than a celebrity auction context, they would not have brought even half that amount.

Typically, rock star instruments, particularly those associated with Jimi Hendrix, Eric Clapton and Elvis, command higher prices than country music artist memorabilia, but a guitar certifiably owned and used by Jimmie Rodgers or Hank Williams Sr., would certainly bring a great deal of money. It is at best a very subjective judgment to try to compare and contrast values imparted by prior ownership by artists such as Johnny Cash, George Jones, Marty Robbins, Hank Snow or other Opry stars.

It should be noted further that some artists sold millions of records but were not highly respected by guitar players, whereas others, such as Mike Bloomfield, never had a hit record in their entire career but are idolized by pickers. Needless to say, when selling any instrument as memorabilia it is absolutely critical to be able to document the piece with letters, preferably by the former owner as well as photos, film clips, or other documentation from family members, band members, or managers. I am offered instruments said to have been owned by Jimmie Rogers, Hank Williams Sr., Elvis, and other celebrities almost every week, but without proper documentation, I don't take the bait unless they are offered at their intrinsic value as an instrument.

Needless to say it requires a very skilled and experienced appraiser to take all of these factors into consideration. In order to do an appraisal one must first properly identify the piece. Not only must one determine the make, model, and year, but one must be certain that it is in fact original and one must determine the extent of any modification or repair. After forty years of virtual total immersion in this market I use my knowledge and "gut feel" rather than any "blue book," but I am still learning every day. I don't claim to know it all.

About the author
George Gruhn is the co-author (with Walter Carter) of Gruhn's Guide to Vintage Guitars, which is the comprehensive field guide to vintage fretted instruments, and the companion volumes Acoustic Guitars and Other Fretted Instruments and Electric Guitars and Basses. These books chronicle the history of American stringed instruments and are beautifully illustrated and exhaustively researched. His articles are published in numerous magazines.

Gruhn moved to Nashville in 1969 after getting his bachelor's degree from the University of Chicago and doing graduate work at Duke University and the University of Tennessee. In 1970, he established Gruhn Guitars, which is one of the largest dealers of vintage and used instruments in the world, located right behind Nashville's Ryman Auditorium. The "guitar guru" has been a featured columnist for Pickin', Frets, Bluegrass Unlimited, Guitar Player and Vintage Guitar. He is the former vice president of research and development for Guild Guitars, and his designs are currently featured on a line of Tacoma guitars.

"Since 1963, George Gruhn has distinguished himself as the one to see in Music City - or anywhere for that matter - if you're in the market for a vintage stringed instrument . . . He categorizes his interest in guitars - like that of his staff and most of his clientele - as beyond obsession. 'Those with a serious interest have an addiction, and we've got the goods,' Gruhn says of his customers, who include the heavyweights of popular music - Eric Clapton, Neil Young, Johnny Cash, Lyle Lovett, Vince Gill, George Harrison, and Paul McCartney, just to name a handful." - Bone Magazine

Contact Information
George Gruhn, Gruhn Guitars
Phone: 615-256-2033
Email: gruhn@gruhn.com
Web: Gruhn Guitars

For some people, selling goods at the Treasure Hunters Roadshow in Middletown has been music to their ears — particularly if the good was a guitar.
The Roadshow, which evaluates valuables and antiques, has been at the Manchester Inn since Tuesday; today, Oct. 24, is its last day.
Many items, even if they’re antiques, haven’t been fetching high prices in the weak economy, said Greg Taylor, a manager at the Middletown show. However, gold, silver and guitars are the exceptions.
“Gold and silver prices are so high, and with vintage guitars, the wood they used can’t be reproduced today,” Taylor said.
For example, earlier this week in Middletown, someone brought in a Gibson ES 330 from the early 1960s. It sold for $300 when it was new, but a collector bought it for $4,500, said Taylor.
Someone else brought in a gold coin from 1871 that had a face value of $20, but sold for $3,500.
The Treasure Hunters Roadshow looks somewhat similar to “Antiques Roadshow” on PBS, but experts there appraise items for insurance purposes, Taylor said. The Treasure Hunters Roadshow buys items for collectors and gives the sellers a check.
As of Friday afternoon, 312 people had visited the show since it started Tuesday. Taylor didn’t have local sales figures but said a typical week brings in $100,000 or more.
Kim Holt of Middletown came to sell off some coins and “did pretty well.”
A man from Springboro, who asked not to be identified, was trying to sell a Disney toy train set that he guessed dated from the 1940s or ’50s. He was offered $300 for it, but decided to try his luck on eBay, where the same set sold for $600.

After the first EB basses Gibson manufactured another more important bass which were cousins with the Firebird I - III - V and VII guitars and were introduced at the same time in 1963 .

The firebird and the thunderbird always shared the same body shape. In 1963 Gibson introduced 2 thunderbird models , these Gibson bass guitars were called the :

Gibson Thunderbird II Bass
( 1963 to 1969 )

These basses in 1963 had reverse solid body shapes ( long horn at the bottom of the body ) , they had 1 metal pickup with no visible poles , and were mostly made in sunburst finishes , some other custom colors were also available .

In 1965 Gibson redesigned the thunderbird II with a non reverse solid body , custom colors available , and were discontinued in 1969, reintroduced in 1983 with a reverse body until 1984 . ( less than 100 were made in 83 )

Vintage Price Value For 2007 :
1963 - 1965 > $7500 to $9000 ( reverse body )
1964 - 1965 > $5000 to $6000 ( non reverse body )
1966 - 1969 > $2800 to $3800 ( non reverse )

1963 - 1965 > Avg Upward Trend Of 14% A Year Since 2000

Gibson Thunderbird IV ( 1963 - 1969 )

Same basic specs like the thunderbird II but with 2 pickups , most in sunburst finishes , some custom colors were available . In 1965 body changed to a non reverse body until they were discontinued in 1969, reintroduced in 1986 to present as a reissue .

The reissue was introduced with a reverse body , 2 humbucking pickups , tune o matic bridges and were made in tabacco sunburst ( various colors followed through the 90s till present )

Vintage Price Value For 2007 :
1963 - 1965 > $7 500 to $11 500 ( reverse body )
1964 - 1965 > $5 000 to $6 500 ( non reverse body )
1966 - 1969 > $3 000 to $4 500 ( non reverse )
1986 - 1999 > $1 200 to $1 500 ( Reissue )

1932 - 1955 > Avg Upward Trend Of 12% A Year Since 2000
1986 - 1999 > 6% ( Reissue )

Important : Custom colors such as metallic blue, cardinal red or green are worth significantly more on both Thunderbird II and Thunderbird IV basses ..

It may sound like rock-opera fiction, but it happens: Weekend Warrior hits garage sale and buys dusty old Fender guitar for $50 (or, cleans attic and finds the Gibson he bought in high school for $100). He visits a guitar shop in "Antiques Road Show" fashion -- and discovers the "beat-up axe" is a vintage collectible, worth $10,000. Or $20,000. Or $100,000.

The vintage guitar market has declined like other investments in this recession. But if you have cash to seed a small collection, why not start a fun hobby that's financially savvy? After all, when your 401K takes a beating, you're broke. When your vintage guitar takes a beating, it may continue to appreciate anyway, just because it looks so cool. Besides, who ever plugged a stock portfolio into a Vox amplifier and woke the neighbors?

I tapped a veteran vintage guitar expert, Wayne Sefton, owner of Midwest Buy and Sell in Chicago since 1990, for tips on what to look for when building your own collection. (His Web site is being revised; visit his MySpace page here.) Sefton has sold instruments to Wilco, Franz Ferdinand and Death Cab for Cutie. And in a 2002 Chicago Tribune article (now only available via an old Geocities link), I rated Wayne's shop as Chicago's coolest and friendliest, along with Terry Straker's Guitar Works in Evanston, Ill.

Here are Wayne's five tips for starting a valuable vintage guitar collection on a budget -- in this case, less than $5,000 per instrument, usually 10-years-old or more.

1) Buy brands collectors love. Sefton says Fender and Gibson are heritage brands bound to rise in value. Rickenbackers (played by the Beatles, Byrds and Tom Petty) are a bargain because even the rarest often sell for under $5,000. "They're great American-made guitars," Sefton says.) Avoid overseas brands.

2) Beware eBay. Guitars get bid into a frenzy there. "There's also a lot of shill bidding going on," Sefton warns. "They'll start stuff at $2,000 you can easily buy for $1,500 elsewhere." Plus, you can't pick up and play the guitar if it's halfway across the country.

3) Get an honest appraisal. Guitar Center chain stores can't do it; they may even try to give much less than your attic axe is worth. But guitar genius George Gruhn of Gruhn's Guitars in Nashville, does appraisals for the bargain price of $50. Many (including this writer) think Gruhn's is the best in the business, and so does Sefton. "I' do written appraisals for free, but that's because I'm a nice guy," he says, laughing.

4) Inspect for cracks, replacement parts and playability. A re-glued neck, refinish, or new tuners can drive a guitar's value down, Sefton says. If the guitar is all original and "mint," that's great. But so are older Fender Stratocasters and Gibson Les Pauls with that "road-worn" look. "Make sure the neck is good and playable," Sefton adds.

5) Relationships matter. Sefton takes time to educate and advise his customers, steering them toward smart investments. (Instruments I've bought on his advice have appreciated up to 300%.) "Get to know who you're dealing with," Sefton says, noting that a dealer wanting your money is far different from a dealer earning your loyalty.

Everywhere John Entwistle went, his one-of-a-kind bass guitar and "Boris the Spider" necklace usually went with him.
Now The Who bassist has gone where his belongings can't travel — he died of a heart attack in 2002 — and his beloved Buzzard bass and Boris necklace remain behind.
They're more than just mere belongings, though.
They're artifacts from the golden age of rock 'n' roll.
"He changed the face of music," said friend Steve Luongo, who drummed in The John Entwistle Band.
Those same artifacts are on display this weekend at Sidney & Berne Davis Art Center — along with other Who memorabilia, vintage rock posters from the 1960s and ’70s, signed guitars and more.
It’s probably the highest-profile event ever held at the fledgling art center, said center director Jim Griffith.
Sure, he said, they’ve had big-name Broadway actors and jazz musicians.
“But this is rock n’ roll,” he said. “It’s a whole other audience.”
In all, there will be 800-1,000 pieces in the show, said Paul Cola, a board member for The John Entwistle Foundation. The exhibit — plus an invitation-only party Sunday night — is a fundraiser for the foundation, which helps sick and poor kids get access to musical instruments and training.
The show features other rock memorabilia, including about 30 guitars signed by The Rolling Stones, Aerosmith, Sammy Hagar, James Taylor and more. All those are for sale.
But the Entwistle items, organizers said, should be the biggest draw.
Before those things arrived at the center, though, most of them lived at Luongo’s south Fort Myers house. Luongo is a former drummer for Mountain, Rat Race Choir and The John Entwistle Band (best known for “Horror Rock,” the theme song in the cartoon Van-pires”).
Recently, Luongo showed off many of those pieces to a visiting news-press.com reporter. From a back room, he hauled out a black guitar case, clicked open the latches and carefully lifted the lightweight, angular Buzzard bass into the light.
“That’s the one,” Luongo said. “That’s an old friend.”
He smiled weakly.
“I sat next to him every night and listened to it bark,” Luongo explained. “For years.”
For Luongo, these pieces are more than just memorabilia.
They’re memories.
And this weekend’s event isn’t just any show. It’s a tribute to his best friend — a man who happened to be the bass player in one of the most important rock bands of all time, The Who.
The necklace and the bass guitar will sit alongside rare 45 RPM records from Entwistle’s personal collection, outfits he wore on tour with The Who, handwritten lyrics and pen-and-ink drawings of his bandmates.
The Boris the Spider necklace, of course, gets its name from the classic Who song written by Entwistle. The bassist commissioned the pendant — the first of several — to commemorate his first hit with the band.
At his house, Luongo lifted the top off a cardboard box to reveal the spider. Its onyx body and ruby eyes gleamed in the kitchen light. “Don’t worry,” he joked. “He’s been anesthetized.”
Luongo smiled.
“He probably won’t bite you,” he said.
The Boris necklaces were special to Entwistle, said his son, Chris Entwistle of Stroud in the county of Gloucestershire, England. It’s rare to find a photo without him wearing one version of the pendant.
“The spider became very much associated with him,” his son said. “He had to play the song at every concert.”
John Entwistle wrote the lighthearted tune after chatting with friends about movie stars and wondering aloud what kind of animal would best represent them. Horror actor Boris Karloff, they decided, would be a spider.
John Entwistle wrote the song the next day.
“He said it only took him seven minutes to write” his son said.
Each piece in the show triggers countless memories, Luongo said. He’s only now gotten to the point where he can do something like this: Talk openly about his friend and immerse himself again in Entwistle’s world.
The wound still aches. While showing off the memorabilia, Luongo accidentally stumbled upon an old photo from June 27, 1987 — the day he and Entwistle met.
“Wow,” Luongo said, his voice choked, his eyes tearing. “I didn’t know this was in here.”
It gets easier with each passing year, though.
“This is the first time I can talk about him without turning into an idiot,” Luongo said. “I still can’t listen to any of our records.
“It’s painful. It’s extremely painful.”

Rediscovering his inner Hendrix inspired Jazz Festival marketing vice-president Jacques-Andre Dupont to launch musical instrument shows and a blues camp.

If Jacques-André Dupont hadn’t had one of those benign midlife crises, it’s entirely possible that a depressed 15-year-old kid wouldn’t be healed by playing the blues this summer. If Dupont hadn’t rediscovered his inner Hendrix, guitar fanatics from all over the world might not have a place in Montreal to gather every year and talk guitar geek. Most important, if a meeting with Montreal International Jazz Fest sponsors hadn’t been cancelled at the last minute, he might never have walked into Steve’s Music Store in Toronto.
That unexpected visit to the music store in 2003 was the turning point. Dupont, the marketing and business development vice-president of the jazz festival’s company, Equipe Spectra, had just turned 40. He hadn’t picked up a guitar in a couple of decades, but with his meeting called off and time on his hands, he walked into Steve’s.
And he emerged with a Gibson ES-335.
“I took the train home and there was space to play,” Dupont said during a recent interview at an Eggspectations restaurant in the Plateau Mont-Royal. On the train ride, he hammered out some remembered blues licks. “I was like a kid,” he said. “From there, I got crazy.”
It wasn’t long before Dupont started collecting vintage guitars, creating, in the process, a Web site to connect with other collectors. Before long, the business and marketing man was right-braining his energy into promoting music-making as part of the festival. When his bosses, jazz fest honchos Alain Simard and André Ménard, gave him the green light, the Montreal Musical Instrument Show was born.
The first show in 2005 offered not only a showcase for all kinds of musical instruments, but hands-on attractions like lessons on how to play guitar in an hour (the main secret: knowing the chords A, E and D), djembe jams and successful workshops by the likes of Pat Metheny and John McLaughlin.
This year, the instrument show is back, featuring the usual displays, activities and the 100% Guitar series, which offers free nightly shows at the new MMIS-GM Pavilion.
An offshoot of the instrument show, focusing on Dupont’s first musical love, was inevitable. The Montreal Guitar Show made its solo debut in 2007. Classes, concerts and interactive activities for would-be fretburners became as successful as the guitar exhibitions showcasing the world’s best luthiers.
During the guitar show’s second year, singer-songwriter Francis Cabrel bought $70,000 worth of instruments, Dupont said.
“There are more guitars sold every year than all other instruments put together,” Dupont said. “Have you ever heard of a clarinet hero?”
This year, nine ticketed Guitarissimo concerts at Cinquième Salle of Place des Arts, by Stanley Jordan and Russell Malone, among others, are also part of the event. Free shows at the Hyatt Regency Hotel between July 3 and 5 make up the Guitar Guitar series. The guitar show itself moves to the Palais des Congrès, near the jazz festival site.
As always, Dupont said, state-of-the-art instruments by the world’s best luthiers will make it the place for guitar fanatics from all over the globe to admire, discuss, buy, sell, try out and generally drool over some wondrous high-end axes. And this year, acoustic and electric models will each get their own room for exhibitors, mini-concerts, lectures and workshops, Dupont said.
If one of Dupont’s jazz festival projects seems close to his heart, it’s the Blues Camp, which, he said, was born of his desire to bring teenagers into the jazz festival. The day camp, offered in French, gives young musicians between 13 and 17 a chance to immerse themselves in the magic 12 bars in all their manifestations over a seven-day period.
While drums, piano, bass, horns and harmonica figure into the camp’s daily schedule, guitar – a staple of modern blues – is a heavy presence.
The rules are intricate, with an audition process that whittles about 400 applicants from all over Quebec down to 100 finalists. More rigourous interviews leave 55 standing. That group will spend an intensive week soaking up instruction from teachers and mentors, writing songs and forming bands – six groups, divided according to age. On the last day of the festival, the bands play an outdoor show on the Club Jazz TD Canada Trust stage.
Dupont said he has observed the life-changing effect of the event during the interview process. “I hear so many things like ‘I tried to kill myself and the guitar was the way I found to survive,’ or ‘I lost my mother and my dad this year and music is the way I get through.’ I even saw a 13-year-old boy who said to me: ‘I want to be the next Nina Simone,’ ’’ Dupont said.
“I see the impact,” he said. “I see that we do a job not enough people are doing. There’s less and less music in schools. Somebody has to step up to the plate.”
The Montreal International Jazz Festival’s third Montreal Guitar Show will be at the Palais des Congrès July 3 to 5. The fourth annual Blues Camp runs from July 6 to 12. The fifth annual Montreal Musical Instrument Show will be at the Village de la musique from July 10 to 12, although some activities are offered throughout the festival.

The Montreal International Jazz Festival runs from Tuesday to July 12. For further details, go to montrealjazzfest.com or montrealgazette.com/festivalcentral

Tour Will Also Include a Vintage Road Show, Featuring Hand-Selected Pieces
from the Nation’s Largest Vintage Collection.

Los Angeles, CA, May 3, 2009 – Guitar Center will take its iconic “Legends
Collection” on the road beginning May 23 for a 4-city tour that will make
weekend stops in Fountain Valley, La Mesa, San Francisco and Hollywood. The
“Legends Collection” will feature three of rock’s most famous guitars - Eric
Clapton’s “Blackie®” Fender® Stratocaster® and Gibson ES-335, as well as
Stevie Ray Vaughan’s “Lenny” Fender® Stratocaster®. Purchased for over $2.4
million from the Clapton Crossroads Centre charity auction at Christies New
York in 2004, these three guitars are among the most treasured guitars in
rock history.

Assembled in 1973 by Eric Clapton himself from the parts of several guitars,
Clapton played “Blackie®” almost exclusively on stage and in the studio from
1973-1985, recording hits such as “Cocaine,” “I Shot The Sherriff,”
“Wonderful Tonight,” “Further On Up The Road,” “Lay Down Sally” and various
live versions of “Layla” as well as being featured on several album covers
and videos. His Cherry Red Gibson “ES-335” was used to record Cream’s
versions of “Badge” and “Crossroads” as well as many other historical
performances during the 40 years he owned it. Steve Ray Vaughan’s “Lenny,”
which Guitar Center purchased for $623,500, was used to record his classic
love songs including “Lenny” and “Riviera Paradise.”

Home to the largest collection of vintage instruments in the nation, Guitar
Center is also proud to showcase a hand-picked selection of its most rare
and sought-after vintage guitars as part of its Vintage Road Show. With
Vintage locations in Hollywood, Nashville and Manhattan, Guitar Center’s
vintage collection includes hundreds of the rarest and most valuable
guitars, amplifiers and other instruments, including an impressive
assemblage of ’50s and ’60s Strats and Les Pauls, handcrafted archtops, Jazz
Basses, P-Basses and more.

Vintage guitar enthusiasts can visit the “Legends Collection” and Vintage
Road Show at the following locations:

May 23-24
Guitar Center Fountain Valley
18361 Euclid Street
714-241-9140

May 30-31
Guitar Center La Mesa
8825 Murray Drive
619-668-8400

June 20-21
Guitar Center San Francisco
1645 Van Ness Ave.
415-409-0375

June 26-28
Guitar Center Hollywood
7425 Sunset Blvd
323-874-1060