GEORGE GRUHN: What we have here is a Gibson Prototype Special Dreadnought made -- the serial number at least is 1929. It's a little hard to really tell when it left the factory, but that's what the serial number is. It's maple. It has an elevated fingerboard. I've never seen another one like this. This is one that's part of my personal collection. It happens to be a great sounding guitar as well as an interesting piece of history.

We have another instrument here, a 1919 00030 Martin. This is, according to Martin's records, the only 00030 ever made. This one, as I said, dates from 1919.

This guitar here is Dan Fogelberg's Penguin Gretsch. This particular one is made late 1957. Actually, Dan bought this from us in the early '70s and we got it back from him recently.

This guitar here is a Gibson Birdland. It was owned by Jerry Garcia of the Grateful Dead. It's made in '66. It has a letter signed by him that it was his and has a shipping receipt when he shipped it to a friend.

We have here, this is a 1923 F-5 Gibson Mandolin signed by Lloyd Loar.

PATRICK OGLE: The one you were talking about. Those are the ones you were talking about earlier.

GEORGE GRUHN: Yeah, this is, as mandolins go, the holy grail. It's a 1923, the ultimate year. This is the prettiest back I've ever seen on one. It's in great condition.

PATRICK OGLE: How much would this mandolin sell for?

GEORGE GRUHN: It's $205,000. It's a marvelous example.

PATRICK OGLE: One of the reasons I stopped playing the mandolin is even a decent one costs more so much money.

GEORGE GRUHN: Well actually there's pretty darn good mandolins that we can sell you for a couple of thousand dollars.

PATRICK OGLE: Mmm hmm.

GEORGE GRUHN: You'll be surprised they're very good mandolins.

This is a prewar D-45. This one has had a fair amount of work done. This is actually made 1942. It's priced at $175,000. If it was pristine and haven't had a crack and some other work, it would ring close to 300.

Here we have a 00045 made in 1941. It's been refinished. It's $55,000. If it were original finish, it would be over a hundred.

We have a 1920 single 042 priced at $20,000. It looks almost new. This is one by Larson Brothers, and that Larson Brothers Dreadnought I was mentioning that I like so well is right here, made about 1940.

We have a variety of interesting electrics. This is right here a 1960 sunburst Les Paul but it's been re-necked. It's $85,000. If it was pristine original, it would be at least 300. We sold one a couple of weeks ago for 325.

This one is a 1959 Les Paul Standard -- excuse me, it's a '58. It's been sent back to Gibson and refinished. It's $135,000. If it were completely original finish, this guitar would be $300,000, and we sold one recently for that much.

This one here is a '59 ES-335. It's $40,000, dot inlay. When I opened up my store in January 1970, we sold these things for $400.

This is another dot one, 335. This one is a 1958 model that's first year issue, and this particular one is $58,000. It's squeaky clean.

This is a '59 blonde finish, which is much more rare, and it's dot board. It's priced at $85,000. This one is a '57. This one is also -- Yeah, both of these are '57. Gold-top Les Pauls with a patent applied for humbuckers, and both of these are priced at about a hundred thousand dollars.

This is a late '53 which is similar in appearance except it has, instead of having a Tune-O-Matic Bridge here, it has a stud [INDISCERNIBLE] bridge and it has single-coil pickups instead of humbuckers, and this guitar is priced at $45,000.

So, we have quite a variety. The point is we can go on and on and on, and these are Fender Stratocasters. All of these are pre-CBS Stratocasters that are very much collectible as well as good guitars. So, we have a variety of banjos and mandolins.

Just for example in banjos, here is an 1890s presentation-grade SS Stewart banjo. It's highly engraved on the shell, carving on the neck, fancy ivory carved tuners, lots of inlay, $15,000, and it is from the 1890s.

This Mastertone banjo is a thin [INDISCERNIBLE] flat-head top-tension model from the 1930s. This particular one here is $50,000. So, we have a variety, something for everybody, and the point is not everything at Gruhn Guitars costs this much. We have plenty of instruments that are good quality.

PATRICK OGLE: I was looking at [OVERLAPPING]

GEORGE GRUHN: [OVERLAPPING]

PATRICK OGLE: I was looking downstairs.

GEORGE GRUHN: Yeah. This is the upstairs showroom where the really high-dollar pieces are. Downstairs, we have plenty of affordable instruments, plus we have a variety like on this wall we have Martin models that are things that we designed. These are special models that are made for us to our specs, and these range in price here from under $2,000 to pricing up to about $3,750. But the point is these are very good guitars that you can take onstage and use professionally. It's wrong to think that everything good has to cost $100,000 plus. You can still today get good guitars that you can take onstage and use professionally for under $2,000, or you can spend $300,000 for the right collectible. If you buy something like The Loar F-5, it's not only collectible, it is an amazing sounding mandolin. I'm not going to try to tell you that for $2,000 you can get one that does the same thing. But I can tell you that for $2,000 you can get a mandolin that's good enough to take onstage and use professionally and that you will do fine.