The oldest instrument I own is a 1919 Gibson mandolin. For as much as it has in common with modern builds, it may as well be a different instrument. The difference is not age but how it was constructed. I would probably like one built the same in 1999 but no one does it. Very complex top carve, use of a lateral brace, birch back and side.
It has a repaired crack and the repair is effective, but not cosmetically up to what a modern repair would be. Probably done at a time when the instrument had little value and the owner wasn't concerned with retaining originality or putting money into maintaining cosmetics.
With older instruments, you are buying all the previous owners' bad decisions so the fewer of those you inherit, the better. The longer the time period when the instrument had little monetary value, the more likely it is to show evidence of bad decisions.
I tend to be agnostic on vintage instruments but would admit that its hard to play one today and not wonder where its been and how it was played over its lifetime and that extra layer of enjoyment is not available with newer instruments.
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