That's Frank Koonce holding what is believed to be the world's oldest surviving full-sized guitar (that thing is over 400 years old!)
The guitar has been attributed to Belchior Diaz, a Portugese builder who probably made the instrument around 1590. [...] This is a ten-string, five course instrument with a fine ornate peghead. Instead of regular metal frets, it has tied ligatures like those on a lute.
The guitar has been through a lot of restoration work, but it still retains the original parchment rose.
http://www.frets.com/FRETSPages/History/Diaz1590/diaz1590.html - Thanks Stratoblogster!