Topic: A "good?" cheap 12 string electric
OK, first of all let me state that I haven't seen one of these yet let alone pick one up and play it...
There have been references on the Rickenbacker forum to original Danelectro 12 strings "the poor man's Rickenbacker".
I do own a reissue '59 six string ($250 about 2 years ago) which I bought after seeing Jimmy Page playing one of the original Danelectros on the LZ DVD set. Yes, it's cheap (masonite body, aluminum nut and bridge) but in spite of that, the intonation is good, no string buzzing and it sounds pretty darn good! I love the sound from those lipstick tube pups! $250 well spent I say.
I just saw on the Danelectro site that they are introducing 12 string guitars based on the '59 body. Again they might be crap, or you just might get a cheap gem. I checked GC and MF sites; not listed yet.
http://www.danelectro.com/guitars_main3.html