FUQ (eff -yu - cue) - FAQ's with an EDGE

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Question:
A friend of mine is looking at a used Fender Lead III for $300, it is in good condition and he likes the sound of it. The guy at the store said that the Lead III never really took off, sales wise. Can anyone out there tell me anything about this guitar? The neck indicated that it was made in the USA with a serial number that starts E102...

Answer:
I have played one of these guitars, and my impression was that it felt like a smallish, early '80's Strat. I didn't particularly care for the pickups it had, though. IMO, $300 is a little high for one of these, especially considering its lack of popularity (read: there is no demand for these guitars). I would think that $200 to $250 would be more reasonable. They're good guitars, especially if you don't want to play professionally with them, but they not great.