As of 2013[update], Gretsch offers a number of guitars in its "Falcon" series, including a custom-built replica of the original, which is priced in the US at $12,000 (approximately £8300).

He wanted a "Dream Guitar," and gained his inspiration by walking through the Gretsch factory watching the construction of the many diverse musical instruments the company produced.

The high interest from sales representatives led Gretsch to rush the guitar into production, and the first White Falcons were sold in 1955, identified as the model 6136.

This was not good for the company; the rockabilly era was just ending and Rock and Roll was just getting popular with the rise of new guitarists like Jimi Hendrix, Jeff Beck, Eric Clapton and other musical greats were turning to Fender, rather than Gretsch.

Like Brian Setzer's signature Hot Rod 6120, the Black Phoenix features stripped-down electronics that consist of two pickups, a selector switch, and a volume knob.

In January 2013, Gretsch introduced the Billy Duffy signature model, replicating the Baldwin-era design with silver binding and chrome hardware.