There are three major considerations when determining value of 1958-1960 'Bursts - they are: original condition, amount of flame, and how much the color on top has faded. Original 'Bursts in average (60%-80%) original condition without much flame or color start around $150,000. 80%-90% original condition guitars with some flame and color are currently selling in the $200,000-$300,000 range. Recent original Sunburst flametop sales/asking prices on strong instruments with nice flame are selling between $300,000 and $400,000, depending on the amount of color remaining and degree of flame. Subtract approx. 10%-20% if Bigsby has been removed. 1959 mfg. is the most desirable.
Double black exposed humbucker pickups (circa 1958-59) are the most common, Zebra (black and white humbuckers) are less common (1959-1960 mfg.), and the double cream colored pickups (circa 1959-1960) are the most desirable.
In 1959, large frets replaced original part/design. In 1960, thin neck, double ring tuner buttons replaced original part/design.
It is estimated that Gibson built 1,700 of these beauties between 1958 and 1960; and perhaps only 1,500 have still survived to today. In 1959, they retailed for $279 - the value of a flame top Gibson Les Paul Standard today depends on three factors: the degree of flame (figuring) in the maple top, amount of fading on the Sunburst finish, and original condition. Originality is especially important on this model - if a stop tailpiece has replaced an original Bigsby or other substantial alterations have been performed, values can be off as much as 50%.
This particular model has achieved legendary status among guitar collectors, players, and investors throughout the world. The original LP 'Burst, more than any other electric guitar, proves what turbo-charged desirability can do to an instrument's price tag. Needless to say, the Blue Book of Electric Guitars fully recommends that several professional appraisals be secured before purchasing a collectible guitar of this magnitude. After Jimmy Page, Eric Clapton, and Mike Bloomfield made the 'Burst popular back in the late 1960s, some musicians were having their gold-tops stripped and refinished to join the craze! Given the magnitude of this particular portion of this niche market place, some fakes and re-topped or refinished guitars have surfaced.
Price History