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Mine is from the "second edition" (2005-9). It differs from the 1985-96 batch in that it has a six-saddle, part through-body and part top-loader, hard-tail bridge, a full-lenght neck with 21 frets, and an almost simmetrical peghead (1985-96 version was a short-neck, 22 frets instrument with a Fender Electric XII-type bridge with 12 saddles, and an assimmetrical peghead). It is Crafted in Japan. It has a really good unplugged sound and a good action. The six-saddle bridge means slight intonation problems, not critical. The electronics are similar to those on 1950's Strats (i.e. no tone control for the bridge pickup), with a five-way selector switch as on most modern Strats. The pickups, being good, could be better, they are ceramic and slightly harsh (bridge) or boomy (neck, middle). The most interesting part is, this is a Fender Stratocaster with 12 strings, and people who look at it feel baffled at first. In fact, a strange thing happens for me the perpetual collector: there is not much info available, only an entry at the Wikipedia and some reviews at the usual webpages, and some of the data is innacurate. In fact, the most reliable source I've found on the matter was a shop owner that told me they were made at the Tokai Factory (not Fujigen Gakki, strangely) and that 2000 or fewer were made. I've tried to verify that info, but Fender Ibérica has not been of much use to me, other than saying that data on japanese instruments is extremely difficult to verify, at best. So this is a mistery instrument. At least it mantains its value in the second-hand market, which is good in a non-american Fender. And it sounds good enough.