For a guitar of the level I tend to go for, I put $3k, which is what I was
trying to get a new JP15 for today. Above that, I'm just not comfortable. And it's an extremely nice guitar, even at that price point.
But, if I were to raise my earnings by one of a few ideas floating in my head (a raise, going back into business for myself, and/or an inheritance that's coming my way), I'd be ok going to 5-6K, and getting into the range of a Maple top Majesty. But I realize that's there's no difference in that guitar, other than the top, which truly isn't worth an additional $2k. To me. Unless my circumstances changed as above.
But I also don't have a lot of bills, and I make pretty good money. And I don't treat myself to anything else, other than the basics. I don't go out to dinner, or take vacations, and I'm set when it comes to other gear.
If I do this, I plan on selling off a decent size chunk of my collection. I have a somewhat sizable collection of high end guitars. I will end up getting more money out of what I plan on selling than this guitar would cost me. Part of this adventure would be a downsizing exercise that I probably need to do. Getting the Private Stock guitar may not make me miss the guitars I will sell. I would also like to go to the factory and pick the wood and take the tour. That would make it a life event that I have been wanting to do as well.
Well that aspect of it makes it truly "yours", so yeah, you wouldn't get that buying a used one.
Where the diminishing returns comes to mind is that I have several very nice 10 top and special run PRS guitars that really make me wonder how they can do any better than what I already have. Everyone I have talked to that has a Private Stock PRS says they just have something that the core models don't have. They just play and sound a little better. They went from core guitars to PS. After putting my preferred setup on the ones I have, they play and sound pretty darn good to me. I am hoping that these folks have had them long enough that the honeymoon is over and they would be able to admit if they really were just different because of the woods and specs.
I have to wonder if paying 3 times the amount (or whatever it is) the price of a nice core model, doesn't really start to affect one's 'confirmation bias' though.