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Gruhn Guitars: Vintage Guitar Evaluation, Appraisal and Value George Gruhn talks about why some guitars are worth a small fortune. . .and some are worth a large one. Meanwhile, Gruhn's staff conducts appraisals on several vintage instruments. From "Handmade Music" episode DHMM-305

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	A 1955 Fender Telecaster, just as it was brought through the door at Gruhn's
	Andy Jellison removes components from the 1955 Fender Telecaster to make a true determination of its condition.

Digging Deeper: 1955 Fender Telecaster Assessment

A Fender Telecaster from the 1950s can be worth a fortune. Or it can be worth a nickel. So how do you know the difference? A lot of it is in the timing--the time in which the guitar was made, that is.

"The Fenders that are the most sought after," says George Gruhn, "are the ones made before Leo Fender sold out to CBS, which happened in January of 1965. The early Fenders from this pre-CBS period, particularly the ones from the '50s through the very early '60s, are really great guitars. They're factory-made instruments, but they are superbly designed and very, very well crafted. . .They play great, they sound great and they're unbeatable for what they are. They're wonderful instruments."

Beyond that, value is determined largely by condition. Repair technician Andy Jellison knows that the right combination of model, originality and condition may yield the right combination of dollars and cents to a seller, and he knows specific things to look for.

As appraiser he must look beyond the most obvious clues to determine a the guitar's true value. In this case, that begins with removing the strings, neck, bridge, pick guard and electronics. Once the scratch-guard and electronic are removed, clues as to the guitar's finish will be staring back. If the body of the guitar is red but, as in this example, the casing that was concealed by the electronics is a natural wood finish, an appraiser can quickly determine that the finish in not original. And that's bad.

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	Figure A
	Figure B

For example, on an intact and unmodified guitar, an inspection of the electronics should reveal original factory solder joints. If the solder joints are not original, then it's likely the electronics are not original either (figure A). In fact, Andy is able to determine that the pickup on this instrument is a modern one, not an original or even one contemporary with its make.

The year a guitar was built is a huge factor in determining its value, and there's typically a fairly simple and reliable method for determing that. Removing the neck typically allows the time of the guitar's construction to be verified since the year, and sometimes the month, is inscribed on the base of the neck. This Telecaster's "birth date" was June, 1955 (figure B) so, though it's seen some modifications, this guitar is one from the "golden period" of this brand.

As he looks at all of the visible evidence, Jellison writes up thorough notes, documenting the details of his inspection. All of this will be factored into what the shop may be willing to pay for the instrument--or whether they'll simply pass on this one. Jellison also makes note of any repairs that will be necessary to bring the guitar back to good shape. The time and cost of repair will be balanced against the value and collectibility of the particular model.

	A Gibson ES355 in need of some fairly heavy repair work
	Gruhn's instrument repair staff at work and play

Another Fixer-Upper: Gibson ES355

Since an instrument's determined value has to be weighed against its repair bill, the staff of Gruhn Guitars must check the functionality and playability of each guitar it evaluates. As long as there's something to salvage, extensive repairs may be deemed worthwile on the most valuable of makes and models.

The same customer who brought in the '55 Telecaster also brought in a Gibson ES355 for evaluation. This one had multiple problems, including switches that were stiff and nearly frozen, and at least one dead pickup. But given the fact that Gibson electrics can be quite collectible, the damage in this case may just be outweighed by the pedigree.

The Verdict: Let's Make a Deal

Based on the thorough investigations, offers are made for each of these guitars. They will need work, but Gruhn is confident that his highly skilled repair staff can restore them--something that not every guitar repair shop could say. Sometimes the offers are declined, but many instruments brought in find their way to the shelves in Gruhn Guitars.

And what if you find an old Fender or Gibson gathering dust in an attic or garage? "Any way you can physically get it here," says George Gruhn, "we're happy to do business. We're always interested in acquiring good instruments. In my line of business, the bottleneck on how much business we can do is not so much generated by how much we can sell, but by how much good, vintage merchandise we can buy. And also, after we've bought it, how efficiently we can restore it."

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