Thank you for contacting Mearto with your appraisal inquiry. Based on the photographs and description provided, the subject of this appraisal is a Gibson L-50 acoustic guitar, circa approximately early 1930s. According to the current owner, the piece was acquired from a pawn shop around 1980. No serial number is noted on the piece.

The owner notes the following condition: "Had professional luthier/appraiser work on guitar to fix a couple hairline cracks, install new frets and overall set-up. All original except added bridge with to electrify. Original bridge is in case. Curley maple sides & back and spruce carved top. Big punchy sound from the big band era. Guitar shows it's age but structurally sound, straight neck and fretboard. Plays very nicely."

While book values of the piece tend to fall in the $1,500 to $2,000 range, recent sales via Reverb.com trend higher than that for good condition specimens such as this piece, even factoring in the modifications and repairs.

In consideration of the factors noted, a Fair Market Value (pre-auction estimate) of this piece would be estimated at $2,000 to $3,000.