I sent a personal reply to Gary, and it seems from his response that we are in basic agreement on this:
Celebrity-owned or historic instruments should (for the most part) be left alone.
BUT (a big but!) depending on the importance of the celebrity to the music world, a refinish could have little effect either way on the value of the instrument.
Dealers, in general, but led by some very high-profile ones, generally shun refinished instruments, and will devalue them by half or more. True, there's a lot of charm in a well-used and lovingly-played old guitar or bass. But it's badly-done amateur refinishes that have spoiled the situation. Dealers don't want to handle them and their attendant problems. Too much work and heartache. They have enough trouble with veracity as it is.
An older player's Rick which could use bringing back to museum condition (the owner's call), will not suffer provided the refinish is done with factory materials and to factory standards. Ricks are rare and specialized enough that a beautifully-turned out one will draw traffic and turn heads, as much as an old beater with lots of "mojo".
As I told Gary, "mojo" is largely an issue of marketing, and has little effect on the guitar's playability or the effect its history may have on the skills of subsequent owners.
I believe that it's an issue of individual sales and appeal, and a beautiful instrument will always find an appreciative market.
“I say in speeches that a plausible mission of artists is to make people appreciate being alive at least a little bit. I am then asked if I know of any artists who pulled that off. I reply, 'The Beatles did.”
― Kurt Vonnegut
An example in point is Grahams Capri, refinished in a monty sort of colour...not a Ric standard, but one of the most beautiful gtrs that I have ever seen. To a purist, they may want it left original, but now that gtr has a new lease of life, courtesy of a new overcoat!
'Rickenbacker'...what a name! After all these years, it still thrills me.
Nothing like an old beat up guitar (and car for that matter) that gets a nice new refin. It's like going back in time and having the excitement of buying it new!
Small dings & scratches are a normal part of a guitar's life when it gets played regularly, so they don't really bother me, but major patches of bare wood, or big gouges & scratches are a worry & sometimes a structural issue. We're also talking about professional refinishes & repairs here, rather than stop-gap amateur jobs. For roughly the price of a new guitar, making an older, abused or roughed up guitar new again is well worth it & should easily command a better price than the same guitar in unrepaired state.
When looking at 2 otherwise similar guitars I would instinctively pay more attention to the one with a better condition, particularly when it comes to a beautifully polished mirror finish like these.
I just picked up 360/12 from Paul yesterday and I am so stoked! It looks like new! It's been 3 years since I whacked the headstock, and seeing the guitar look so nice again, is just amazing!
I did have some buddies who told me to leave it be, but just seeing that missing chunk of wood always bummed me out.
I played it all night!
Paul's work and attention to detail is just amazing! I can't reccomend him highly enough!
That's exactly why a proper refin & repair makes the guitar worth more (not just in monetary terms), in my opinion.
A restored auto, house, or anything else is worth more. Why should guitars be different?
“I say in speeches that a plausible mission of artists is to make people appreciate being alive at least a little bit. I am then asked if I know of any artists who pulled that off. I reply, 'The Beatles did.”
― Kurt Vonnegut