There was another big reason I needed another guitar, not that I like my main Ibanez RG750 workhorse (nicknamed Deanna after Deanna Troy as she knows exactly what I need.) It is about doing important gigs and not having a good backup guitar. Same with my bass guitars, my main work horse is an ATK3EX1 Ibanez, that’s a good sounding bass (named Anki after my wife.) but I have another bass guitar for just in case situations.
There’s so much that could go wrong on a show, broken strings, malfunctioning pickups, something else, having something around is always a good idea, even if it takes some effort to drag all the equipment to the show. The same is true of extra batteries, enough cables and similar tools for those situations where something has to be fixed.
I must say, I don’t take multiple guitars with me for jams or practice sessions. This is only for those important shows where everything has to work, no music, the audience gets restless.
As for studio work, usually one guitar is enough, especially one that gives enough sounds from one end to another, as I use Line 6 Pods for most of my guitar sounds. Still, fun to pick up a different guitar from time to time. They all have their own special feelings when playing, the necks are different and so on.
In today’s market you could easily find a good brand new guitar for $400 or below. There’ no need to spend a lot of money for a piece of wood. Yes, you might get some special parts that are hard to find or it all sounds somewhat better, but with studio production the guitar sounds are processed so it all just drowns in the mix. Same with live. I must say, I would not like to spend a lot of money on an instrument, pay all the money and then worry for a lot of things. If it breaks, it’s not a big deal to get another one later. I’m sometimes confused about the used guitar sale prices — I looked at a used Ibanez JEM777 for $590 (made in Korea, i.e. low end Jem), it was beaten and even if it felt good, it’s an old guitar where all kinds of problems in the bridge, tremolo and frets will show up and you need to spend more money and time to fix those problems. Compare that with picking up a brand-new medium sized guitar for the same price and just start playing after some initial setup work.