What's this LG-3 worth?

[gibpicker]

I recently purchased an early 50s LG-3 online - it's not in the greatest shape cosmetically (though I don't think it's to the point I'd call it a "player" either) but the seller described it as being in great shape structurally and not needing any work. I don't mind a guitar with some bumps and bruises, and I paid what I think is a relatively reasonable price in this crazy vintage market at just over $3k. 

Fast forward to today when the guitar arrives, and I was a bit disappointed in what I received. The guitar was sold with a mention that the seller thought the back had been oversprayed - it did look like that was the case in the pics, but I didn't care because, well, it's just the back. Not something I'd ever see anyway. But when I inspected the guitar today, I realized that the entire back had been replaced. There's no center strip down the middle of the back, the wood looks way newer than the rest of the guitar, and I can see where wood chipped away from the sides when the binding was removed. I assume all of the back bracing was replaced, as well, though it at least looks like it was well done.

Two other issues with the guitar:

- The seller described the action as being set to modern spec - I assumed somewhere in the neighborhood of 3/32" (though I suppose shame on me for not asking for specific measurements). Turns out that the action measures in at about 9/64" at the 12th fret. There's a pretty good amount of saddle left so I think I'll be able to get action to a more than comfortable measurement, but obviously still a bit frustrating.

- I took some pictures of the inside of the guitar to make sure the bridge plate and bracing looked ok. I was shocked to see that one of the side braces had a big piece of blue painters tape over it!! (picture attached here) I tried lightly jiggling it and there was no movement, and no rattling when tapping the top...but the tape might just be doing a good job of holding the brace in place. Not sure and I'm not a luthier so I don't want to mess with it. Also unclear what the two patches around it are for...no cracks on the top so they aren't cleats.

So here's the thing...despite all of the above, the guitar sounds excellent. I honestly wouldn't mind keeping it despite the aforementioned issues/deception, assuming I'd be able to get a relatively large refund. So I'm curious what folks here think would be a reasonable amount to ask for/what this guitar is realistically worth. My initial thinking was to ask for around $700-$1,000 back...not sure if that's unreasonable, but I figure the whole back and back bracing being replaced devalues the guitar quite a bit. And it seems possible I'll need to get a brace reglued, get the guitar set up, etc. Thanks for any advice!

[slimt]

Its worth half of the 3000 as a player. LG3s for some reason really dont sell for alot to begin with.   
 

If The back was replaced and a brace held on with painters tape and it was not disclosed as such  I would be returning it.   

[dhanners623]

Are partial refunds even a thing?

Did you take the tape off to see what it is securing/concealing?

The possibility it is a replacement back is disconcerting. If the seller knew and didn’t reveal it, that’s deceptive. Then again, perhaps the seller didn’t know.

Last year, I bought a guitar on Reverb and the seller (a dealer in Kentucky, as I recall) said it was in “very good” condition and had great action. As I was abroad, I had the guitar sent to St. Paul Guitar Repair because I knew I’d want to replace the tuners and maybe the bridge. Kevin Schwab, who has worked on every guitar I’ve owned since 1994, assessed it and told me the bridge was the least of my worries. He rattled off a lengthy list of issues and said the repair costs would quickly outstrip the value of the guitar.

In the ultimate repairman insult, he said, “It wouldn’t even make a good wall hanging.”

I had him send the guitar back. The seller disputed Kevin’s assessment but gave me a refund. It led me to question what “very good” condition actually means.

 

[gearbasher]

Worth? I don't know. But my guess is the brace was re-glued and the painters tape held it in place until the glue dried. They forgot to remove the tape. If I'm correct, it looks like they missed the angle when re-gluing.  On the right hand side, the brace looks a few millimeters behind it's original position. 

[gibpicker]

Well, guess this thread is moot now, the seller is absolving himself of all responsibility so I'll need to go through Reverb just to get a refund. Too bad.