Rickenbacker 381/12V69 Vintage Series 12-String Electric Guitar  

Classic Ric sounds from the old style pickups. Plays much easier than my 360/12 "Carl Wilson" and the tone is better from the more massive wood (carved top on this one).

I have a 2001 model in mapleglo that I got used.  Not only got it significantly cheaper than the new price, the guitar was still in immaculate condition, and all the problems with the setup that many people seem to have with Rickenbacker were already taken care of.  This guitar is really too fancy looking for my tastes, and the neck is really to narrow for a novice 12 string guitar player (however with practice you do get used to it).  I like the guitar for getting the early Pete Townshend sound, but after playing "Can't Explain" over and over I am looking for other ways to utilize this beastly guitar.  If you really want a 12 string rick, I'd say save some money and go with the more practicalt 360/12, or go with the solidbody 660/12, which has similar appointments to the 381 (12 saddle bridge, nice charectered maple) but with a wider neck, better suited for 12 string playing.  IMHO, this guitar is really not practical unless you have lots of money and like to buy guitars to look at.

Neck probably too narrow for big hands but superb build quality and fantastic sound.

I ordered this model in 2000.  I was told it would take 3 months to deliver.  It took 1 year, and although the guitar is very well put together, & plays exceptionally well, there is a giant worm-hole just above the low E string (the most prominent place it could be), and the front is certainly not "charactered", as advertised.  The back is beautiful, which only makes the flaw more egregious.  Rickenbacker refused to accept the guitar, even to see why I am unhappy with it.  They offered no solution whatsoever, and lost a customer as a result.  I had planned on purchasing a matching 6-string, and a 4003 bass, but I will not pay premium prices for a factory 2nd again.

Based upon my experience of owning this guitar, I have the following recommendations for Rickenbacker: 1-Establish a custom shop so that customers paying top dollar for a guitar built by an American factory of iconic stature aren't out in clubs showing off it's "bloopers" in public.  2-Offer a quality guarantee, and repair or replace product that is sub-standard.