It was my understanding that they were lam b&s. It that's not the case, I can see where they'd command a higher price than lower-end Yamahas, etc., although $1200 seems excessive when you can buy a new Larrivee or Martin 15 or 16 for that. Are they that much better guitars than the Blueridges and Epiphone Masterbilts and I see for so much less?
I can see the appeal of a quality guitar commissioned and partly built by Martin from Martin materials, and if that's the case, I might have bought one myself to save money. I still would hesitate to call it a real Martin, but of course it doesn't have to be a real Martin to be a good or great guitar.
Totamus, my original point was the flip-side of the corksniffer you mention: I've found Shenandoah prices inflated because of the Martin connection. I like Martin guitars, some quite a lot, but all three of the all-solid guitars I've owned were Larrivees. I could argue that they rival any company's product in quality, but I'd hardly argue that even JCL's compelling story can match Martin's history.