This guitar sat in a B.C. family's closet for years. It's now worth as much as $26K

When Renee Latheur decided to take an old guitar into a music store in Kamloops, B.C., she didn't expect the instrument that had sat in a closet for years to be worth thousands of dollars.

"It's in a ratty old guitar case. But I remember my aunt saying, 'I don't know what to do with this when I pass away.'"

Sherrie Favell died in March, leaving Latheur wondering about the instrument and its connection to the woman she loved as an aunt even though they were not biologically related.

It wasn't until Latheur saw the music store owner's eyes sparkle at the sight of the case that she began to learn more about the guitar and its value to Favell's father,who bought it nearly 65 years ago.

Mike Miltimore, who owns the store, said the worn tweed and leather case was a telltale sign that it may contain a unique instrument.

When he opened the case, he saw a Gretsch from the 1950s, featuring a big brass buckle on the top and a leather studded "belt" around the outside.

"It's a played instrument, you know. It's been loved. If it could talk, it would tell probably about hundreds of concerts played throughout its life," Miltimore said.

'I was blown away'

He said his research from the serial number revealed the electric Gretsch Roundup 6130was made in 1955 and similar to the instrument later played by country legend Chet Atkins.

"It's a hollow-bodied guitar and a lot of companies were doing solid bodies at that time," Miltimore said, adding a hollow instrument was used for the country style of picking that Atkins popularized.

The guitar that Latheur thought may be worth $200 is actually valued at between $12,000 and $26,000, Miltimore said, adding about 400 of the instruments were made in the 1950s.

"I was blown away," Latheur said.

She recently learned her aunt treasured the mahogany guitar that kept her connected to her father, Roy Favell, who played his beloved instrument in a band called McKinna Gold.

He lost his thumb at age 21 but still managed to perform with it.

"He caught his hand in a planer at a mill in Salmon Arm and he actually had to retrain to play the guitar," Latheur said.

However, Roy Favell inexplicably sold his guitar at a pawnshop. It was later rescued by Sherrie Favell and her mother, Latheur said.

Sherrie Favell bought it back again when it was hocked a second time, Latheur said, and she kept it after he died about 20 years ago.

Sherrie Favell sometimes played the Creedence Clearwater Revival tune Bad Moon Risingon the guitar, but her prized possession spent much of its time hidden away, Latheur said.