Extra rare Morena No. 540 Classical Guitar - made in Japan probably in the '60s (1966 is an estimate based on the serial number 42331, because Showa Year 42 is 1966). There are not a lot of info on these guitars, however the label says it was made by Terada Gakki. To give you an idea, Terada Gakki went on to make guitars for Gretsch, Gibson, Fender, Epiphone Japan and many others. Check the demo video I recorded playing the guitar: https://youtu.be/WEdNYssiMjE This guitar sounds great and looks amazing for its age as you can see from the pictures. It has a warm yet balanced sound and it is great for Folk music, it sounds great with a pick or with fingers. The guitar is playable and comfortable, however I put 'Fair' as condition because the neck has been repaired. The guitar has medium tension nylon strings. Please check the photos and the videos carefully, they are the best way to understand the guitar's condition & sound. This guitar is around 60 years old, so adjust your expectations accordingly. It has scratches, blemishes and imperfections. It will feel different compared to a new instrument. It is playable but it has not been professionally setup, so there may be things that can be done to improve its playability. I'd suggest it to people who have some experience with vintage guitars and are willing to make adjustments down the line, or who can embrace the imperfections in exchange for a special sound and vibe.