Premier Guitar features affiliate links to help support our content. We may earn a commission on any affiliated purchases.

Guitar Prices: An Inflation Study

Martin D-28 Modern Deluxe

The current street price of this Martin D-28 Modern Deluxe is a princely $3,999, and more with electronics installed.

Inflation is rough on the guitar market, but to those who are old enough to have been guitar shopping in the 1970s, the current price hikes won’t seem so surprising.

After two-and-a-half years of Covid-created mayhem, who doesn’t want to celebrate? And what better way to celebrate survival and better times to come than with a new rig? The bucket list of guitars you’ve wanted for months or even years is long, but this is no time to start at the bottom. Whether it’s a guitar, that otherworldly octave mandolin, or an amp or boutique pedal, it’s time for a reward that only you can deliver. The top item on your list is finally available, you’re ready to buy, but suddenly you notice the price: What the …? Are they kidding? You check other sources but it’s not a misprint, and certainly not a joke. The price of your reward to yourself for sticking it out and staying safe has gone up, and not by just a few bucks. You’ve been eyeing this gear for quite a while and the price hadn’t changed much­—until now. What’s going on?


Welcome to inflation, the killjoy that punishes you for not having purchased something months earlier, perhaps before you could afford it. In retrospect, a few months of additional interest on your credit card would have been a bargain compared to the price increase you’re looking at now. Unless you’ve been living in a cave in the wilderness, you’ve heard about inflation, of course, and noticed it at the grocery store, and you’ve certainly felt it if you’re putting gas in your car. But when inflation hits your music budget, it feels personal, more insulting, and unfair.

The shock a price hike delivers depends more upon your age than you might think. For geezers like this writer, the recent price increases of guitars don’t seem that horrible. But those who started buying guitar gear less than 30 years ago usually began their shopping in a very different pricing landscape, so some time-machine data crunching might help ease the pain. Rather than wade into the Wall Street weeds of charts and graphs tracking inflation over the last several decades, we’ll use the cost of Martin’s venerable D-28 acoustic, partly because it’s so well-known but also because the model was essentially unchanged for so many years.

When inflation hits your music budget, it feels personal, more insulting, and unfair.

C. F. Martin had been forced to raise prices every year in the late ’60s, as labor costs in the U.S. were rising steadily. But inflation hit especially hard in the early ’70s. The cost of building an acoustic guitar like the D-28 was almost all labor—the prices Martin paid for Sitka spruce, East Indian rosewood, mahogany, plus a set of Grover Rotomatics and a case were a small percentage of what you were paying for when you bought a polished and playable dreadnought. Martin’s list price of a D-28 first crossed the $500 line in July 1972, when it went from $495 to $570. The next price increase came only nine months later and was even more painful, going up to $660. Then came two more price increases, and by September 1974 the price had jumped to $770. Those numbers represent a price increase of more than 50 percent between early 1972 and the fall of 1974. No wonder a popular parody of Janis Joplin’s humorous “Mercedes Benz” began:

Oh Lord, won’t you buy me a D-Twenty-Eight
My friends all have Martins, how long must I wait?
The prices keep rising, I fear I’m too late,
So Lord, won't you buy me a D-Twenty-Eight

Yet 20 years later, inflation in North America had long since cooled. Price increases throughout the ’70s and ’80s had taken their toll, and Martin’s D-28 crossed the $2,000 line in 1993 (to $2,060), but then leveled out. Ten years later, the MSRP of a D-28 was still less than $2,500 ($2,469 in 2004). That’s an increase of 20 percent over more than a decade. Needless to say, the young guitar-picker who’d been saving for a D-28 in the late ’90s, when the price was unchanged for five years and then went up only $69, didn’t feel punished for saving. But during the high-flying inflation of the early 1970s, even folk-rockers and the bluegrass faithful, at least when shopping for a new D-28, were singing the blues.

The takeaway from all this? Financial forecasts suggest that inflation isn’t going to back off in the near future. Buying that dream rig now rather than later is probably a good idea, especially if you put it to good use!

Billy Corgan shining with his Reverend Z One.

The Smashing Pumpkins frontman balances a busy creative life working as a wrestling producer, café/tea company owner, and a collaborator on his forward-thinking, far-reaching line of signature guitars. Decades into his career, Corgan continues to evolve his songcraft and guitar sound for the modern era on the band’s latest, Aghori Mhori Mei.

“Form follows function,” explains Billy Corgan when asked about the evolution of his songwriting. These three words seem to serve as his creative dictum. “Early Pumpkins was more about playing in clubs and effecting a response from the live audience, because that’s where we could get attention."

Read MoreShow less

The Meteora’s upscale second outing has a lot more in common with its offset siblings than its sleek modern looks imply—and that’s a wonderful thing.

Excellent array of tones, from heavy to bluesy, indie, and funky. Great playability.

Pricey. Knobs feel somewhat rough. On-the-fly contour adjustments take some getting used to.

$2,249

Fender American II Meteora
fender.com

4
4
5
3.5

When Fender debuted the Meteora body shape in 2018 (as the Parallel Universe Meteora), I was among those who immediately thought it looked like a pretty worthy addition to the company’s venerated line of “offset” guitars. Taken in hand, though, the guitar may have struck some as having a bit of an identity crisis—which may account for the changes we see in the third iteration, the new American Ultra II.

Read MoreShow less

Discover the iconic Mary Ford Les Paul Standard in Goldtop finish, a tribute to the trailblazing music icon and her groundbreaking partnership with Gibson legend Les Paul.

Read MoreShow less

Add a splash of motion and mystery to a flat amp with this simple, streamlined, vintage-flavored tremolo and reverb stomp.

Simplicity and utility. Lively spring reverb simulation. Smart, spacious control layout. Nicely dovetailed modulation and reverb tones.

Can’t use harmonic tremolo or vibrato with spring reverb simulation.

$229

Keeley Zoma Stereo Reverb And Tremolo
keeley.com

4.5
4.5
5
4

There are days I plug into myFender Vibrolux, play an E minor chord with a little vibrato arm flourish, and ask, “What more could I ever need?” The simple, elegant perfection of Fender’s reverb and tremolo formula is so foundational, essential, and flat-out delicious to the senses that it gave rise to a class of pedals that consolidate the essence of that recipe.

Read MoreShow less