Bluebooks not withstanding 'value' on an instrument like this is entirely subjective. It has a theoretic 'point' value of roughly $130-190 (this doesn't factor the case which might bump it up a bit). But even this depends on a lot of variables: neck warping, is vibrolux intact and functional, is the pickgaurd cracked?
Kalamazoo was a name Gibson, pre-Norlin, used several times for budget guitars. The solid body electrics were manufactured between 65-70 (approximately) came in two body styles and the 'Mustang' style at least could have one or two p/u. I'm not aware of a 3/4's version but neck was just 22 fret. and over all it would have seemed smaller then a either a typical Fender or Gibson. Design was similar to Fender Mustang. P/U's were single bar single coil 'Charley Christian' style. Body was medium density fiberboard.
Personally I always felt target demographic was less Fender then Sears and Spiegel (mail order, pre mall department store). In early 70's this was one of guitars a band, if it lacked an endorsement deal, could buy used for under $50, play on-stage then smash or burn without breaking the bank. They never acquired niche cache of having been popularized by high profile personalities. The right movie could change their subjective value immensely.
Currently the stock sound is referred to as 'surf' . . . I do not personally hear it as 'surf' but understand association due to low sustain, truncated frequency response, and a vibrato system that doesn't permit it to stay in tune
While they are never going to sound like THE '63 strat, or '57 Les Paul they are not terrible instruments (the ones where the necks aren't trashed) if you have a use for the limited sound they produce. The flexibility of tone can be improved with some relatively inexpensive modern parts (tuners, tailpiece, bridge, pickups, pots) If you spend a hundred dollars on parts you will end up with a reasonable $100 guitar (which will still reflect sustain characteristics of medium density fiberboard)
Collectable value demands you keep any original parts readily available (& don't carve on the body)
