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I see that it's been re-listed at the same price so wasn't snapped up at £399, which doesn't surprise me. I think they were charging postage but I see postage is now free. I'd suggest upping your offer to £350 and see what happens.
This one seems OK, but do be careful though on EBay - some of the Sheraton guitars/descriptions don't match, and some serial numbers aren't reliable as they could be eg 85, 95, or 2005. For example, there's a 2012 Sheraton described as Korean made but as far as I'm aware the last Korean versions were made in 2006, and they were Chinese made from 2008. The truss rod cover is an 'E' and not 'Gibson', the f holes are bigger, and this therefore seems to be Chinese (I actually queried this with seller, no response yet).
The older Sheratons like mine have a sticker rather than the serial number etched into the headstock. In fact there's one just like mine here (natural, 1989, Samick) going for £549 and you can see the sticker:
http://www.ebay.co.uk/itm/1989-EPIPHONE-by-GIBSON-SAMICK-BUILT-SHERATON-GUITAR-NATURAl-LOVELY-ORIG-CONDITN-/112164242598?hash=item1a1d8284a6:g:iUQAAOSwh2xX~QRe
It also supports my earlier comments that older Sheratons do now seem to be commanding a bit of a 'collectable' premium.
it plays and sound great .it's always the guitar I pick for noodling and messing about on.
I have seen the pro version go for 250-300 on gumtree etc. Just be patient. The newer sunburst are pretty naff looking,not as nice as the older Korean vintage burst.
Good luck with your search.
Cheers
Mark.
http://www.ebay.co.uk/itm/epiphone-Sheraton-semi-acoustic-electric-guitar-Nat-Korean-1996-hard-case-/322413972512?hash=item4b115ecc20:g:PDQAAOSwNnRYlymQ
Might go with an ebony one Rich tone music have a new one on ebay for £499, but have them advertised through Amazon for £464. Don't really need a case as I just play at home. Was wondering do the Korean models really benefit from a pickup change.
The missus bought me a brand new Casino Coupe for Christmas.. she was actually apologetic about it (goodness knows why!) but, it's really very very good for the money. Very good. Like, keep it and play it a lot good.
Yeah, the P90's are a bit mushy, but then again I'm comparing them to '59 pups in my DC special...!