It's definitely preloved, but the price is right. If the repair is solid and plays well it should be a great deal. Make sure you can return it if it turns out to be a dog, but it could be a great opportunity. My '78 Series I didn't have any outright breaks, but the finish was in similar shape. The good folks in Santa Rosa made it look brand new again. Even with that cost, if it's in good basic shape and a good player, it's still within reasonable cost with the refinish. OTOH, it's also a great way to get a killer sound without having to sweat about bringing it into sketchy clubs.