This is a Martin S1 Mahogany Soprano Ukulele dated circa 1932-36 in "very good" condition. The tuning pegs have been replaced, but all else is original.
Ukuleles were in highest production from 1916 to the 1930's, though still manufactured in quantity until 1965. Production quantities during some periods were as great as Martin guitars. Martin ukes are considered to be the best for craftsmenship and sound. The Koa wood models are more collectible than mahagony models. The fancier style 5 models are worth more than plainer styles 0 to 3. All sizes are collectible.
The first Martin ukes, built in 1916, have serial numbers ranging from one to less than 200. Ukes made after 1916 do not have serial numbers and must be dated by specification changes.
Ukes have the Martin stamp on the back of the peghead until 1935. Peghead decals do not appear in catalog photos till after WWII.
Martin Style 1 Uke specs:
Introduced in 1918, the first Martin uke model made. Discontinued in 1965.
Introduced in 1918,
First 200 or so ukes serial numbered, thereafter without.
Rosewood outer body binding with inner black/white.
12 fret rosewood fingerboard with bar frets.
Earliest examples with boxwood bridge saddle and nut.
C.F.Martin & Co. on back of headstock.
Small dot inlays.
Rosewood friction pegs.
1920: Koa wood 1K available
1927: Patent pegs
1932: Decal logo on front of headstock
1934: T frets, dark plastic binding
1942: Style 1K last listed
1965: Style 1 last listed and discontinued.