Marwell: GW-346E appears to be German Guitar.
Last edited by Guitar Hack at Dec 1, 2009,
it appears that marwell doesn't make this guitar any longer, but sapele is the cheaper back and side wood for taylor, and the condition of the guitar would affect the price. also i'm not familiar with marwell, but there are solid wood guitars to be had out there for under $400, so maybe this was one of them.