I think Mark is on to the crux of the issue. A good deal of Martin's reputation was well earned in the 50's and 60's. I have heard more dissatisfaction in the following decades, but Martin's do hold their value well.

There are quite a few guitars that can put Martin in their place. Taylor in its higher models is one example. But Taylor has been making guitars for only 20 years (a guesstimate). And as you think of holding value, I wonder about the new Electric/Acousitic models. The electronics will die long before the guitar and then you are stuck with a guitar with a hole in one side. Will those guitars hold their value?

Of course, we have stumbled into an age of aging hippies trying to regain their childhood by collecting guitars from the 60's and earlier (present company excepted, of course). Now the value of guitars on the market are beginning to exceed IMHO their value as instruments.

Don't let anyone tell you that "you can't go wrong with a Martin". You certainly can, not all guitars are made equally. I have played Martins with which I have been distinctly unimpressed.

Roger in Baltimore