Read about this in the paper today
http://www.volksblad.com/Suid-Afrika/Nuus/Seldsame-kitaar-huis-toe-20121018
Basically this guitar tutor received an old (1960's) Hagstrom bass from a student as a gift. Tried flogging it in Bloem, but his best offer was only R1000.00. He then contacted Hagstrom and sold it back to them for R120 000.00!
Wonder if he'll split it the profits with his student....