[PJ]

I'm looking around to find you guys the "restored value" of a '66 Tele, and haven't yet put my hands on it. But, here's an ad for a restored Strat, that's valued at $22,500. Restoration might impact value in the 20-25% (tops) range, but probably not more than that.

15-6984 Fender (used, 1962) Stratocaster, #80150, refinished by Mike Lennon, The Apprentice Shop, to a perfect replica three-tone sunburst, with a newer brown hard shell case having the large rectangular center pocket.
Per Mike Lennon’s repair order (11/27/07) The Arizona-based Apprentice Shop (one of the finest instrument restorers in the USA) “repaired and refinished the body, replaced the bridge, pickguard, back plate, neck plate and all of the screws, rewired to original, restrung and setup.” The guitar is accompanied by its original crème pickguard, green Fender Owner’s Manual, a worn Ronny Lee “No-Mishap” guitar strap (made in Patton, PA and bearing 1959 Patent No. 2,843,039) a small folded four-color card that reads “Fender, Fine Electric Instruments” with a statement and the model and serial number written by hand, to which a small Allen wrench is attached with a thin strip of bandage. In the pocket of the case is a newer cover for the bridge, a newer spring, some newer knobs and a newer tremolo arm. The potentiometer codes are 304-6207 which means that the pots are Stackpole made, and dated February of 1962; the neck date is “2 Apr 62 B.” We discovered that the neck pickup lead was spliced, and that the shielding plate is original but it has three extra holes in it, that correspond to three extra holes in the original pickguard that resides in the case. We believe that the guitar once had 3 mini-switches. Under the pickguard is a small area of spliced-in wood, by Mike Lennon (so you know it was a great job). The case could be from a Fender Jazzmaster or Jaguar. There is no visible body date and we cannot, ourselves, tell if the pickups were rewound, but Mike Lennon didn’t have them rewound so they may very well be original. The finish work is exemplary – the neck shows normal light signs of wear and of course the body shows no wear and yet the entirely is convincingly vintage. This is the real, albeit “restored” deal, and it remains affordable to those who are seeking vintage verity combined with a minimal level of conservative restoration rendering it nearly museum quality. $23,195 or at our cash discount price, $22,500.