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Archive for June, 2019

The Strange Story of FON T5972

Saturday, June 15th, 2019

OK, it’s not an oogly-boogly strange story with intrigue and supernatural stuff, it’s just kind of unusual and marginally interesting to 335 geeks. The FON is a number that is stamped into a 335 when construction begins. It is an ink stamp and it’s usually visible through the treble side f-hole. They are date keyed to a letter prefix that goes in reverse. So, for a 335, the letter T is 1958, S is 59, R is 60 and Q is 61. Then they stopped using the FON. The letter is followed by a 3 or usually 4 digit number, a space and a one or two digit number. So, a typical FON for a particular guitar built in 58 might be T-5972 12. T is the year, 5972 is the rack number and 12 is the rank. A rack is 35 (more or less) guitars, usually all the same model. They numbers are supposedly sequential although there is some evidence that it isn’t always. The rank is the number within the rack-usually 1 to 35. So, picture a rolling rack with space for 35 guitars that gets rolled around the factory to the various work stations. It starts as a pile of body parts and ends up a rack of 35 finished guitars. Or does it? Here’s where it gets weird (cue the oogly-boogly music).

The first 335’s seem to have appeared in April of 1958. The earliest FON in my data base of 200 ES guitars is T3804 23 although it doesn’t correspond to the earliest serial. T3804 23 is serial number A27992. Oddly, serial number A27696 has a slightly later FON of T3806 3. So. like I said, maybe they aren’t totally sequential. But these very early 335’s seem to follow a logical and orderly path, so we won’t dwell on them. But some racks didn’t. Our example T5972, did not.

Now, it isn’t unusual for a rack of 335’s to be started in one year and finished in the next. It takes a bit of time to build 35 guitars, so a late 58 rack is very likely to have a 59 serial number. T5972 is one of those “on the cusp” racks.

 

Existential Dilemma

Wednesday, June 5th, 2019

This is my main player. It’s an original finish blonde 1959 ES-345. It has had the neck replaced and a couple of holes filled. I don’t know what it’s worth but I know for sure it’s worth a lot less than it would be if it was all there.

I don’t usually comment on guitars for sale elsewhere but I came across a listing recently that brings up some interesting (and important) questions. I think we all agree that a refinished guitar is worth around half of what an original finish guitar is worth. Maybe as high as 60% in some cases and maybe lower but always in the neighborhood. But I recently came across a blonde 1960 ES-335 that was listed for $41,000. A blonde 60 with the original finish would sell for between $80,000 to $95,000 depending on condition and a few other factors (pickup bobbins, neck profile). So, $41,000 is a reasonable price. Or is it? The listing points out that the guitar was a factory blonde and I suppose that should count for something. But, a properly stripped sunburst 60 that has been refinished blonde would be, in theory, a $15,000 guitar. So, is the fact that the guitar left the factory as a blonde really worth an additional $26,000? Therein lies the dilemma.

Let’s look at it from a different perspective for a moment. Let’s say I have a refinished Stratocaster. It’s a sunburst 64 but it was originally surf green. Is the fact it was once surf green-a rare and valuable color-have any bearing on the value of it in its refinished state? If not, then if I refinish it again in surf green, is it worth more than it was as a sunburst? Or, conversely, if it was originally sunburst and has been refinished in a rare color is it worth more? Most of you (and me) would say no. Otherwise, we’d be refinishing refinished guitars and making a good living doing it.

So, what is refinished blonde ES-335 worth? Good question. To answer it I think you have to ask “what is it that I’m paying a premium for?” Let’s say the guitar as an instrument is worth whatever a refinished sunburst is worth-a refinished sunburst and a refinished blonde will be, ultimately, the same guitar from a players standpoint. As a collector’s piece, it’s value as an original (beyond the value as an instrument) is gone. I justify that by saying that a sunburst that has been competently refinished blonde looks exactly the same as a blonde refinished blonde. I’ll ask another question that might shed light…is a factory stop tail that has had a Bigsby added worth more than a factory Bigsby that has had a stop tail added? I would say they are worth the same. By that logic, the sunburst refinished blonde and the refinished blonde are worth the same.

I can confuse the issue even more. A blonde has only  clear lacquer. A sunburst has color and clear. A sunburst that has its original color but has been over-sprayed with clear is worth more than a total refinish. So, do we treat a refinished blonde that has always been blonde as an overspray?  Just a thought.

A few years ago. I had a client looking for a blonde 345. Blonde 345’s don’t come up for sale very often. They made 211 335’s in blonde but they only made 50 345’s. I was offered a refinished 60 ES-345 that was originally sunburst. The finish, while not perfect, was decent. There was some dark paint left in the routs and it would never be passed off as anything but a refinished sunburst. It sold for $20,000 which was way less than half the value of a blonde 345 at the time. But, and it’s a pretty big but, that $20,000 was a whole lot more than a sunburst 60 refinished in sunburst would have brought. I find that hard to justify but I don’t make the rules. I guess if you want a vintage blonde and you don’t want to pay a huge premium for it, then perhaps this makes sense.

So, I guess that a blonde that’s refinished blonde is worth more than a sunburst refinished blonde. But that begs the next question. Is a blonde refinished sunburst worth more than a sunburst refinished sunburst? I sure don’t think so but I’ve really just made a pretty good argument that it actually is. I think the key is the desirability of the end product. People want a blonde and will pay extra for it, regardless of its former configuration. If you had a truckload of refinished sunburst 59 ES-335s and you refinished them all in blonde, you would probably make money not that I suggest you do that.

This is making my head hurt. I’m going to go play a guitar for a while. There’s a blonde one around here somewhere.

Blondes will always command a premium. A blonde refinished blonde (with documentation) should be worth more than a sunburst refinished blonde…right?