I also have a Tanglewood bowlback which was, I think, around £200 (several of years ago). It needed the frets dressed, and it's not as stable in tuning as the Yamaha, but it's not a bad guitar. There's lots of good stuff around £300, though, so it's worth looking around. I got my 900 for £525 locally, when the RRP was about £850, so keep an eye out for good deals.