"Vintage" is a term that has acquired a new meaning apart from its original usage. The term is a combination of Vint (of the vine) and Age (time of creation). This term is used in the wine industry to indicate a wine's harvest date. The use of "vintage" has been modified by collectors to mean old, such as a "vintage car" or "vintage clothing". This extension of the meaning is used in guitar terminology to mean "an original, older guitar."

The most collectible guitars are those made from the mid 1920's to 1969. Guitars made prior to the mid 1920's are generally too primitive in design to have collectible value (of course there are some exceptions, but 99% of the time this holds true).

Guitars after 1969, even though they may be over 25 years old, generally have no collectibility. All the major guitar manufacturers were in dire straits during the 1970's. They were either bought out by larger conglomerates looking to make  guitars as quickly as possible, and/or their quality and choice of materials had become substandard.

Many people ask if their new guitar will be valuable in the future. Frankly, no one knows. But my off-the-cuff response would be, "no". The materials, environment and society of pre-1970 was much different, thus producing different instruments which I feel can not be duplicated today. However all the major guitar manufacturers are certainly trying to recapture the past with their "vintage reissue" guitars. But just remember, when you are buying a new guitar and the dealer says, "you know some day this will be a very collectible guitar", don't believe it. He doesn't have a crystal ball.

As with baseball cards, Barbie dolls, and other collectibles, condition is very important. Instruments in "mint" condition are always worth more than instruments in excellent condition. Also, we need to explain the term "mint", as it is constantly misrepresented. "Mint" means in the same condition as if you purchased the item new today. There is no such thing as mint for its age". Either an item is mint (brand new condition) or it's not.

Guitars must also meet several other criteria to be collectible. One of the most important aspects is originality. Anymodifications, replaced parts or repairs, no matter how practical, will decrease the value of an instrument. Even replacing the original case or re-fretting the guitar (the equivalent to replacing a car's tires) will decrease its value. Originality is even more important to a guitar's collectibility than condition. For example, a "beat-up" original finish guitar will always be worth more than a perfectly refinished one. Even if the new finish is done professionally and looks perfect, it will be worth approximately half the price of an original finish guitar or maybe even less.

Another thing that effects value is demand. The Fender electric mandolin, although very rare, is not worth very much. The reason is demand, or "who wants it?". If the instrument has limited popularity, for whatever reason, it will appeal to a limited crowd. Hence, it will not be worth as much as a popular instrument that has greater demand.

To some extent, rarity has only limited connection to value. For example, the Fender Telecaster is collectible and valuable, even though Fender made tens of thousands of them from 1950 to 1965 (Fender's most collectible era). The reason again is demand. Although the Telecaster is not rare compared to their electric mandolin, it is a very popular guitar today (the key word here is today). Hence, it is worth considerably more than the electric mandolin since it appeals to more people.

To summarize, for an instrument to be valuable there must be:

-Originality (stock, unmodified, no repairs).

-Condition. The better the condition, the more valuable it is.

-Demand for the model and year.

Without the above three items you merely have a used guitar, not a vintage guitar.

Clay Harrell is a private guitar collector. He buys guitars made from 1920 to 1970 by Gibson, Fender, Martin, Gretsch,

Epiphone, National, Dobro, and Rickenbacker. His Internet web site is http://clay.by.net. He can be reached by e-mail

at harrelc@aa.wl.com