PRE-WAR
What the Originals Are Worth
A rigorous examination of pre-war Martin dreadnought valuations— and what they mean now
GUITAR PHOTOS COURTESY OF THE C. F. MARTIN & CO. ARCHIVES
Ninety-one. That is the total number of pre-war Martin D-45s built between 1933 and 1942— the most elaborately appointed guitar the company made, produced in small batches through the Great Depression and into WWII, mostly on special order, occasionally in small shop runs. Every one of them now resides somewhere— private collection, institutional archive, family estate, vault, some in damaged or altered condition. The population has remained fixed for more than eight decades, but the money chasing these instruments has not.
96 | SPRING 2026