The Complete Guide to Collecting Specimen Guitars

If you’re not hugely familiar with the world of guitars, you might look at them and assume that one is very much like another. In some ways this is true – the fundamentals of what makes an electric or acoustic guitar are pretty common, but the brand, model and age of the instrument is what makes all the difference when it comes to considering guitars that have real value and investment potential.

Broadly speaking, the guitars that have the greatest value and collectability are those that were produced in what collectors call “The Golden Era.” This is a somewhat elastic term, but in general we’re referring to the early 1930s through to around the early 1940s for acoustic guitars, and the mid-1950s through to the mid-to-late 1960s for electrics.

Not every guitar from these times was created equally however. While many great guitars were made by many makers from all over the world, from a collector’s perspective we’re mainly interested in American-made instruments from a handful of brands: acoustic guitars made by Martin or Gibson, and electric guitars made by Fender and Gibson

The guitars made by these brands in these periods are held up by musicians as being the best examples of their craft. Perhaps as a result of this, a huge proportion of popular music has been written, recorded or performed on a guitar made by one of these brands.

There are other respected brands from this period – notably Gretsch, Rickenbacker and Guild – but they don’t have the same collectability, in part because they are more niche and specialised in sound. Fender, Gibson and Martin guitars are prized because their utility and impact crosses genres and generations.

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The most iconic guitar of them all is the Fender Stratocaster – if you ask someone to draw an electric guitar, they will no doubt replicate the twin-cut shape of Leo Fender’s greatest invention.

It should be no surprise then, that Strats are hugely collectable – especially those from the period from the guitar’s introduction in 1954 to around 1963 when changes led to a perceived tailing off of quality, and with it some of the collectability. This is in part because Fender and other companies were unable to cope with the demand generated by The Beatles and the wave of music that came after them. As Fender tried to up production to meet this unprecedented demand (which also saw Leo Fender sell the company to CBS), the workmanship and quality was impacted.

Another Fender guitar that has significant collectability is the Telecaster – originally known as the Broadcaster when it launched in 1950, and in single-pickup form as the Esquire. Fender’s first electric guitar is the iconic country guitar, but it has also found fans with everyone from Bruce Springsteen to Slipknot’s Jim Root. As with the Strat, the 1950s and ‘60s examples are the most prized, with the 1952 ‘blackguard’ model (with a blonde transparent finish and black pickguard) the most iconic and collectible of the lot.

On the Gibson electric side, one guitar rules them all – the Les Paul. While Strats and Teles were mass-produced at some scale, the very best Les Pauls were made in much more limited numbers, in part because they were not a huge commercial success when they launched. This led to a great deal of variation and evolution of the model between its introduction in 1952 and its replacement with a new version (which would be renamed the SG) in 1960.

By the time that artists such as Eric Clapton came along and demonstrated the potential of the Les Paul a decade later, the guitars themselves had been discontinued, and while they would later be reintroduced in 1968, that first run – from 1952 until 1960 remains the Holy Grail for many.

The rarest and most sought after of all electric guitars from this period are the ‘Burst’ Les Pauls made between 1958 and 1960. Unlike the black and gold guitars that preceded them, these new guitars featured a transparent Sunburst finish that showed the beautiful grain pattern of the flamed maple cap underneath.

These guitars also featured humbuckers, a new type of pickup that would change music forever. Pickups are the wire-wrapped magnets that translate the vibration of a guitar’s strings into an electrical sound – they are a huge component of the overall tone.

The Bursts featured Gibson’s new ‘Patent Applied For’ humbuckers – regarded by many as the best sounding pickups ever made. Bursts made in 1959 are regarded by players as the apex – and as such are the most collectable and valuable.

Other collectable Gibsons from this period include the ES-335 – especially those made between 1958 and 1964, as well as the SG/Les Paul that replaced the single-cut icon between 1961 and 1968.

In terms of acoustics, Martin stands alone for its collectability and investment potential. America’s oldest surviving guitar company has soundtracked incalculable classic records, and it was often done using its iconic and oft-imitated Dreadnought design. Martin Dreadnoughts from the early 1930s through to around 1942 are the most prized and valuable, though other models from this era, including the smaller OM and 000 body shapes are growing in collectability.

Martins from the 1950s and ‘60s are also well regarded, but not so highly as the ‘prewar’ examples made up to 1942. As a rule, the most expensive and flashy acoustics are worth more, so a D-45 with lashings of pearl inlay will be a higher value item than the more humbly appointed D-18 (though it won’t have any real impact on the sound).

While the most important thing to remember about collecting guitars is that these are working tools of a trade and the fundamental quality and usefulness of an instrument will not be overly hampered by cosmetic considerations. That said, condition contributes to an instrument’s overall value. A mint-condition example of a 1960s Stratocaster with no dings, scratches or other signs of wear and tear will be worth significantly more than one that bears the scars of a well-played life.

This is true even though for many players, the ‘play wear’ is an inherent part of its desirability – the rarity and novelty of a mint-condition specimen guitar is a significant factor.

And as with any other collectable, rarity is a huge factor. This is especially the case with the electric guitar, which rose to prominence during the post-war manufacturing boom of the 1950s and ’60s and such took advantage of mass-production techniques in a way that had never been seen prior.

This means that often some of the most valuable electric guitars are those that were not made in great numbers. The most notable examples of this are Gibson’s early Flying V and Explorer models. While they are now some of the most iconic guitar designs ever, when they launched in 1958, the space-aged angular shapes were not a hit. Compared to the ergonomic shapes of a Strat or Les Paul, they were awkward, to the point where they wouldn’t even sit on a stand properly.

The guitars were discontinued barely a year later due to poor sales, but would find a cult following in the decades that followed – the Flying V in the hands of Jimi Hendrix and Albert King, the Explorer becoming iconic for its use by Metallica’s James Hetfield, The Edge and scores of others.

But that initial poor reception meant fewer than 100 Flying Vs were made in that original run, and barely 20 Explorers. By way of comparison, Gibson made around 1,500 of the hallowed 1959 Les Paul Standard. Given that these guitars were made by the same craftspeople using many of the same materials at the same time, it’s easy to see why an original 1958 Flying V or Explorer are regarded as among the most valuable electric guitars of all time.

As we’ve covered already, many of the most valuable and collectable electric guitars were mass-produced, and the veneration of their quality and importance wasn’t really appreciated until much later on. The immediate decades after these instruments entered the market were also characterised by an unprecedented revolution in popular music: one that regularly shifted what musicians themselves required.

All of this means that quite often, collectable guitars will have been modified in some way, shape or form in the course of their long working lives. In some cases, these modifications will have been minor and in some cases reversible – perhaps a replaced control knob, a new bridge saddle, a swapped pickup or a new set of tuners. These mods are usually reversible and, provided the original was retained, or a period-correct replacement can be sourced, thus shouldn’t greatly impact the value .

If you can’t reverse these modifications, expect the value to take a hit – this is especially true with pickup swaps. While guitars were mass-produced in this period, they were still made by hand and with pickups especially there’s a potential for a great deal of variance that has meaningful impact on an instrument’s tone.

Thus, having the ‘right’ pickup in a guitar is hugely prized by collectors. This is why an original set of 1958-60 Gibson PAF pickups will cost thousands of dollars, even without the guitar they came from!

Other modifications are not so easy to reverse. It’s not uncommon for an instrument’s body to have been modified to accept a different type of pickup or vibrato system for example – any kind of major woodwork will impact a guitar’s value.

Another very common modification on vintage guitars is refinishing – to sand down the original paint and respray it with something different. A refinish that was done by the company itself (a so-called ‘factory refin’) will affect a guitar’s value less than one that was done independently – a guitar’s documentation (including checking serial numbers and sales ledgers) can help here.

The other question is one of general maintenance. As stated, these are working tools designed to be played and used, and certain elements will wear out over time regardless of how well they’re taken care of – most commonly the frets. Most players would prefer a working guitar that’s been repaired sensitively, but these mods can impact the collectability.

The flipside is that heavily modified guitars often provide a more accessible route to collecting, while offering the same sound, playability and mojo. These so-called ‘player’s guitars’ are often prized by artists who can feel more comfortable using them on the road.

As with anything else, provenance is hugely important when collecting specimen instruments. Most of the big brands have shipping ledgers and serial number databases that you can use to find out what you’re looking at. Things like store receipts, tags and other so-called ‘case candy’ can also help. As can photographs of the instrument being used over its lifetime.

Today, collecting Golden Era instruments from the big brands has a fairly high barrier to entry – but if you’re prepared to cast your net a little wider and look outside of the most rare and desirable instruments, there are still plenty of opportunities to snag a wonderful instrument.

Back in the 1980s, bands like Sonic Youth and Nirvana ended up playing (and modifying) Fender’s ‘offset’ guitars from the 60s – the Jazzmaster, Jaguar and Mustang – because they were cheaper and than Strats and Telecasters.

When those bands became megastars, Fender offsets became hugely collectable as a result. It’s also notable that as time has gone on, the scope of a collectable guitar has grown. Back in the day, a Fender guitar from the period of CBS ownership, or a Norlin-era Gibson was dismissed by collectors.

But as the pool of the most desirable Golden Era instruments has gotten smaller and more rarified, there’s been a certain reappraisal of the collectability of these instruments. Even today, they offer a much more accessible route to collection.

Another area to consider is brands outside of the big names. Fender and Gibson have always been relatively expensive, pro-level tools, but as the guitar boom of the 60s happened, there was a huge market for more affordable instruments. One that huge department store chains like Sears and Roebuck & Co was happy to meet.

These guitars were often made by one factory and sold to different retailers with brands like Harmony, Silvertone, Danelectro, Kay and scores of others on the headstock. While these guitars were clearly not of the quality and consistency of their more expensive counterparts, they remain American-made guitars from this era, and often have a unique sonic and visual mojo of their own.

Jimmy Page used a Danelectro DC-2 guitar made primarily of Masonite to record one of the most iconic guitar parts ever, Led Zeppelin’s ‘Kashmir’. Later, the unique looks, sounds and affordability of these ‘catalogue’ instruments would be seized on by the likes of Jack White and Dan Auerbach, and would make them much more collectable as a result. They are definitely a lot more inconsistent in terms of quality, however, so trying before you buy is a must!

When it comes to collecting guitars outside of the Golden Era, many players are often drawn to boutique guitars – instruments produced by small shops or one-man projects with a commitment to craft and detail that mass-produced brands can’t really compete with.

These are undoubtedly fine instruments that are wonderful to enjoy, but are maybe not investment pieces. Legendary guitar expert George Gruhn even went so far as to say that he found boutique guitars “very hard to sell” second-hand – so enjoy them on their own merits!

Exceptions to this rule are instruments that have an artist association – for example the Pensa Suhr guitars used by Dire Straits man Mark Knopfler would have more collectability through that artist association.

That artist angle is always a useful one to explore – if a musician is heavily associated with an instrument, they are more likely to become collectable as a result. You can see the same thing happening with an artist like St Vincent, whose Music Man signature models are hugely distinctive and unique, or an artist like John Mayer, whose PRS Silver Sky regularly appears in limited-edition finishes.

Ultimately, though, the magic of collecting guitars is that they are not simply items to be admired – these are working tools designed to be played, and finding something that inspires you to play and make music in the way that they were intended is the most important thing. These things, after all, have songs in them.

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