Hi Folks,
The short version of my usual binding rant:
Binding is put on the guitar before the finish goes on. In terms of cosmetic issues with the finish, it's a nightmare to put on afterwards.
The medium version:
The channel/shelf/space/whatchamacallit where the binding sits is irregular,
so on every guitar the binding is first:
1) shaped to fit,
2) glued in place, then
3) the 'overage' of the binding (where it sticks out past the side/top/bottom) is then scraped and leveled to fit.
4) Later, the finish is applied.
Trying to rebind a finished guitar is a huge pain for the luthier. Some of the best glues used to adhese multiple binding together, or even simple, one-layer binding to the guitar can soak into the finish and ruin it/discolor it/ soften it/all of the above in spots.
It's also possible for the luthier to unintentionally scrape off finish trying to get the binding to fit, which means that at least part of the guitar will have to be refinished.
Finally, it's mind-numbingly boring work for most repairmen/luthiers.
So, a boring, high-stress, high-risk job means that the repairman will either not do the work, or will price it very high. My guess has consistently been $400-600 over the last two years. Guitars with a high number of multiple layers, lots of extra binding (think Gretsch Country Gents), or binding on the neck/headstock/heel-cap would go higher.
Go to youtube and search under 'guitar binding'. 311 vids come up. You'll see a bunch of people putting binding on guitars in the process of being built, but not much 'on point' for binding restoration where the finish is kept on the guitar. In truth, I only looked through the first 80 video titles & pics, so who knows what treasure of information awaits the truly committed seeker of knowledge :shock: