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I have a early 70's Yairi (5065) and it is a dream guitar. Been thining about another Dread for some time but haven't found anything that I like as well. The A-Y 5065 is currently at the repair shop getting a brace reglued and some fret work. The luthier says that it is one of the nicest A-Ys that he has ever played and he was a warranty repair guy for Alvarez for years. He stated that the older ones are better than the new ones as K Yairi spent time on each guitar in those days. Note all the muscians that endorsed them in the 70's and 80's. Not as many now. I am looking too for another old one and the prices on ebay are rather resonable.
I recently bought this Alvarez 5065 on eBay and I'm ecstatic. I collect era-specific Jacaranda Brazillian laminate Venturas, and had to have this as well. All of my guitars are for sale. Bridge had been replaced. It's made by Kazuo Yairi before he had his name in a line of guitars. It also has ebony fingerboard, and is extra special because the serial # is 289. A sure sign of Yairi's involvement in the making, also signed by K Yairi. Very early model. Bought with new Alvarez hard case. Paid a bit over 600 w/ shipping. This guitar speaks amazingly. I sold acoustics in the era '73-81 and have owned 28s, a 41, and about thirty other guitars and this is among the most favored. Plays like butter. Measures about 3-32nds for the low E at the 12th fret. Has some a couple of good dings in the top, but nothing I can't live with. Date of completion is right on the label with the serial # : it is 7-7-72. I'm near Boston. Like most collectors, I would sell this guitar, but would require a profit over the 650. Also available, 3 Ventura V-14 (all Ventura w/ "Designed in USA.. Built in Japan" labels. A V-12, all have lots of abalone.. a V-16 Twelve of the right era w/ abalone.. all w/ Jacaranda... and a V-35 w/ Brazillian Jacaranda 3 pc back and abalone even on the back too. All set up professionally and close to 3/32nds at the 12th fret. On the following image, you can see the glitch on the 5065 top, and more views of the 5065.