They don't seem to be that expensive as vintage Martins go. I just had a quick look and prices seem to be in the range $2700 to $4800 - depending on condition, I suppose.

You need to get clarity on what year it is ("middle 40's to middle 50's" is too vague). If the seller says he doesn't know then ask for the serial number. Get clarity on the neck and bridge issues. THEN get clarity on how much effect on the value a good repair will have. Generally Martins appreciate in value, but bad workmanship can make a guitar less desirable and reduce the price that you can get.

Note that this is a small-bodied guitar. Smaller than a 000/OM. I'm not saying that there's anything wrong with that, but understand what you are getting here.

You want good quality photos. Lots of them. Fairly close up, covering the whole of the guitar.

Thanks X-rated Bob,

I'm well aware of it's size, shape, shorter scale length and associated sound.

Lets assume it's a '48 (i.e. 40's post war), has had a satisfactory neck reset, some side damage (small hole or crack(s)) have been repaired and the sides have a mediocre refinish (but the back and top are untouched and in good shape).

What do you think one could get for such a guitar on the local market (assuming high quality repairs have been made and playing condition is now perfect) ?

se7ent7 wrote: Thanks X-rated Bob,

I'm well aware of it's size, shape, shorter scale length and associated sound.

Lets assume it's a '48 (i.e. 40's post war), has had a satisfactory neck reset, some side damage (small hole or crack(s)) have been repaired and the sides have a mediocre refinish (but the back and top are untouched and in good shape).

What do you think one could get for such a guitar on the local market (assuming high quality repairs have been made and playing condition is now perfect) ?

You wouldn't get full value on the local market. Better to see it overseas (though it doesn't seem to be a particularly desirable Martin anyway).

I have no idea what the blue book value is.