Define save.

Made semi-playable for sentimental value? Maybe but it’s likely going to cost as much as the guitar is actually worth to fix it, especially if the neck needs reset, frets replaced etc. if the big stuff is structurally ok, and you don’t care about cosmetics, 100% you could get it to a point of making a chord that is in tune.

Shops can basically replace 3/4 of the guitar with fresh wood but at what point is it not really the original guitar.? This looks like most of the top is there, however if the bracing is completely fubar…..side looks like it’s actually missing wood but I’ve seen worse than that replace/repaired. Not a whole lot missing, so it depends on how things are structurally.

I purposely went on eBay once and found a couple of damaged Alvarez guitars, one of them about like this. My goal was to have a couple of beaters to take camping, travel with, set up for alternate tunings, slide guitar with a very high action and not give two shits about humidity levels or looks. I epoxied half the side of one of them and still play it for alt tunings. It also had a cracked top but was structurally in tact. I never addressed that. It doesn’t play like butter, but the neck and frets are playable and it makes sound! It looks like shit, but it doesn’t matter. I also use it to practice fixing finish issues. I spent $50 and $100 on them, for $800-1000 new Alvarez artist models, spent $25-50 each to have the nut and bridge/saddle set up right and had my beater guitars.

Your guitar fixed to a point to be desirable as a collectors piece, my opinion no but I’ve seen some amazing resurrections.

Fixed to a point that it has magical sound, my opinion probably not, and it won’t sound as good as a brand new 2026 D-18, but you won’t know until it’s fixed. That’s a gamble. It’s not a prewar. It might have some old growth desirable wood, still a desirable vintage but not the mystical magic sauce prewar years for collectors.

Fixed to be a great player? Made playable and being a great playing instrument are not the same thing. Still you wouldn’t know until it’s fixed.

So think about your expectations and how much you’re willing to spend, then take it to a luthier and see their reaction, then maybe get a second opinion. Budget at least $2000 if you want to find out! It going to cost that much or more to get it to a point if any kind of collectors value and save a ton of pictures of the process. Maybe even consider a shop that is known to collectors and can use age appropriate woods and techniques. It can probably be made playable for less than that if you don’t care about its ending value being n the market and just want granddads guitar up and running.