I came across this 2005 reissue of a 1962 Fender Strat, the woner wants US$3600 for it. I told him its not worth that amount because of the condition the guitar is in and also because its a 2005 reissue. You can peruse photos here:
http://s834.photobucket.com/albums/zz26 ... FENDER.jpg

My question is: Am I correct in stating this is over proced?
Also if it is valued at this price, why?
And do you think this is a good guitar? I tried it out and it sounds great, but the condition is terrible in my opinion.

That looks like the "road worn" version 60's strat , unless it is the Custom Shop" Heavy Relic" version (It will have the Custom shop logo on the back of the headstock). You can get a new, not worn, Amercian Vintage 62'. I would rather have new one "that I played the finish off of it" for half the money or less, but that's my opinion and I have been known to wrong on several occasions.

Amercian Vintage 62' $1600 new (perfect finish)
http://guitars.musiciansfriend.com/prod ... sku=510049

Road Worn 60's $900 new (made to look old)
http://guitars.musiciansfriend.com/prod ... sku=526796

Custom Shop $3700 new (made to look old by really talented guys)
http://guitars.musiciansfriend.com/prod ... sku=620956

An '05 MIA 62 reissue Strat should go for $1,200 tops,that price is way out of whack unless it's a Custom Shop model.BTW even the 82-84 62 reissues in rare or custom colours top out at $3,000.

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'65 Strat,65 Mustang,65 Jaguar,4 more Strats,3 vintage Vox guitars,5 Vox amps,'69 Bassman with a '68 2-15 Bassman cab,36 guitars total-15asst'd amps total,2 vintage '60s Hammond organs & a myriad of effects-with a few rare vintage ones.

Given the price range my guess is that it's a Custom Shop. If it's not, then it's absurdly overpriced. But I agree, if you're going to spend $3500 on a 62 reissue, especially a relic'ed one, far better to spend it on an 62 reissue from 1985-89.