Liam,

It isn't that no one else can make a guitar a good as a Martin --- although I think that is probably hard to do --- it's that in addition to the quality and wonderful sound, they are widely known and hold their value. If you pay $3000 for a Martin now and later you want to trade it for a Telecaster and change, you can find a buyer without having to take a bath on the purchase.

Some small luthiers make very fine guitars but, since there is no history to rely on, it's only a guess what the instrument will become over its life and what someone would be willing to pay. Add to that the problem of getting your guitar repaired after its maker tires of poverty and leaves the art for a real job. I have a wonderful banjo made by such a craftsman. It was made especially for me and everyone who sees it admires it very much. It's 27 years old now and should last for many generations but it will never be a "real Gibson Mastertone" even though much of the metal is from Gibson.

Hope this helps.

- Mark