Opinions on a Vintage Gibson L-3

[pete12string]

I saw a couple of vintage (1922 and 1924) Gibson L-3 arch-tops for sale.  One was $1500, the other was $2000.  Both had been refinished, had new tuners, and basically cleaned up nicely.  My question is does refinishing "ruin" a vintage instrument?  Are these prices too high?

Thanks,
Pete

[unclrob]

Its been about 6 years since I worked in the vintage market but back in the day a refinished guitar was worth 1/2 of an original finished one in good condition.As for value you can go to gbase.come and see if anything is available.

[ffinke]

Do you want to play it or look at it? Rob's right: the more original the better! And that includes the finish.

[unclrob]

I have played these modals are both are pretty nice.My preferance is for late 40's L7's I have a refin by Gibson now value aroung 1800 to 2300 book is 4500 to 5500.I also find that the mid 60's L48's are wonderful guitars they go between 1500 and 2500.