40 Years of PRS: The Dragon Celebrates
When Paul Reed Smith founded his company in 1985, he had no idea he’d still be hand-signing guitars 40 years later. The PRS Private Stock 40th Anniversary McCarty Dragon isn’t just a guitar—it’s a museum piece that happens to play like a dream. We’re talking about the 10th Dragon model since 1992, and it might be the most ambitious yet.
The Dragon Inlay: 200+ Pieces of Artistry
Let’s start with what makes this guitar special: the inlay work. Jeff Easley, the legendary fantasy artist who’s illustrated everything from Dungeons & Dragons to Magic: The Gathering, created an original dragon design specifically for this anniversary run. The execution is jaw-dropping—over 200 individual pieces of abalone, turquoise, and other inlays covering the entire top of the guitar.
This isn’t the kind of inlay you see every day. Each dragon is slightly different because they’re hand-assembled by PRS’s master inlay team. The work takes weeks per guitar. When you hold one under stage lights, the dragon seems to shimmer and move. It’s genuinely one of the most stunning visual guitars PRS has ever made.
McCarty III Pickups: The Sound Matches the Look
PRS could have slapped any pickup in here and called it a day. Instead, they spec’d the McCarty III humbuckers—the updated version of Paul Reed Smith’s original design that powers the entire Private Stock line.
These pickups are voiced for clarity and harmonic complexity. The neck pickup is voiced warm without sacrificing note definition, perfect for blues bends and sustain-heavy leads. The bridge pickup has enough presence and upper-mid push to cut through mix without sounding shrill. You get that classic PRS neck-through resonance combined with pickups that genuinely exploit that resonance rather than muddy it.
Specs That Matter
| Body | Figured maple top on mahogany back, 40th anniversary weight relief |
| Neck | 3-piece mahogany/rosewood, Pattern Thin profile |
| Fretboard | Indian rosewood with block inlays |
| Pickups | McCarty III humbuckers (calibrated pair) |
| Hardware | PRS stainless steel tuners, PRS bridge |
| Finish | Antique Dark Amber over figured maple |
| Frets | 22 frets, .010″-.046″ gauge |
| Nut Width | 1.375″ |
| Scale Length | 25″ |
Limited Run: 165 Pieces Worldwide
Only 165 pieces were made worldwide. Each comes with:
– Signed certificate of authenticity from Paul Reed Smith
– Custom hardshell case with 40th anniversary dragon graphic
– Setup and inspection by PRS master technician
– Lifetime warranty (because it’s Private Stock)
Who Is It For?
– Collectors: If you have a Private Stock collection, this is the mandatory centerpiece.
– Professional players: The top tier. Dave Navarro, Mark Tremonti, and other signature artists have equivalent access.
– Invested enthusiasts: You’re not buying to flip. You’re buying to own something you’ll hand down.
The Verdict
The PRS Private Stock 40th Anniversary McCarty Dragon is a guitar made for people who’ve spent 20 years playing PRS instruments and want to own the apex of what the company builds. At $12,000+, it’s limited, hand-crafted at the highest level, signed by the founder, and will likely appreciate over time.
If you have the means and the passion for PRS history, this is a no-brainer. It’s the kind of guitar that gets passed down.
What makes the 40th Anniversary McCarty Dragon different from previous Dragons?
This is the 10th Dragon model since 1992, but the first to feature a custom 200+ piece Jeff Easley inlay. The 40th anniversary celebrates PRS’s founding in 1985. Previous dragons had different inlay designs; this one is the most elaborate.
Do Private Stock guitars hold their value?
Yes. Private Stock guitars retain 75–85% of their original value over 10 years. Limited anniversary runs tend to appreciate slightly once sold out.
Can I play this guitar on stage?
You can absolutely play it. It’s not fragile—the inlay is protected by the finish. Many Private Stock owners gig with their guitars.
If you’re exploring the PRS lineup, the PRS SE Ed Sheeran Cosmic Splash Limited Edition is also worth a look.
How long is the wait to get one?
The 165-piece run is limited. If not in stock, the waiting list is typically 6–12 months. Once the run is finished, no more will be made.
If you’re exploring the PRS lineup, the PRS DGT Semi-Hollow Review is also worth a look.
The Fender vs Gibson is a strong alternative from a rival brand.
The Gibson L-1 Anniversary Limited Edition is a strong alternative from a rival brand.