Re: NGD: Maybe the last for a while.....
In the interest of full-disclosure, and mostly because I really enjoy coming off as a know-it-all, even when I'm not, this is my line of thinking:
ESP only has 2 Zep series catalogs on their main (in Japan) site from the mid-late 80s. Information on these is nil. I can't even find more than one Harmony Central thread on the series, and none about this particular model, and the links Google returns all deal with the Strat-style model. ESP discussion forum searches return nothing (could be a server error, though). Ebay shows nothing except an old listing for the Strat-style model and a recently listed Flying A (which I guess stands for "Atrocity", because it's one of the stupidest designs I've ever seen). I don't even think it sold, and it was only $350 (+$130 shipping, but who's counting).
However, that listing states:
The Zep line is one of the old ESP lines akin to the modern Edwards line
The Edwards line gets favorable reviews from players, as I understand it, though I'm sure the line doesn't compete directly with the main ESP line. It appears to be the Japan-domestic version of the LTD line, but I can't say. Never really looked into it.
Now, given the lack of info, and since my knowledge of ESPs in general is well-below average, this is pure speculation on my part. However, since these are/were labeled/marketed as "by ESP", one can assume that at the very least they were akin to the Squier by Fender, Epiphone by Gibson, or even Charvel by Jackson/Charvel models of the same time period. Could be Korea, could be China, could be Indonesia, could be India, could be Taiwan, could be Japan. Could be crap, could be a Great Secret. Nobody knows, or at least isn't saying either way.
I find that in itself odd; how many threads can you find online about 80s guitars made overseas? Harmony, Vantage, Aria, Matsumoku-era, GTX, Tokai, Teisco, Westone, Electra, Global, you name it, someone found it to be either gold or crap and didn't mind telling the world about it at some point. Whatever has been posted to the internet is still there, except this. NSA? CIA? FBI? Who knows.
Nothing is ever so crappy that it hasn't been reported to the internet. From Blue Waffle to 2 Girls 1 Cup to glowing reviews of the crappiest guitar ever made, it's been posted online at least once.
There's not even one listed at Ishibashi's U-box (which isn't all that uncommon, since certain items sell quickly and they don't keep old pics).
Even G-base doesn't turn one up, and you can find the weirdest, rarest, crappiest things imaginable on there, moreso than Ebay.
The biggest "hmm" comes from the Floyd: especially if it's German. No one put a German OFR on a low-end junker back then, so that says something about the quality (or at least intended quality). Those weren't cheap at the time (Kramer had the rights to sell aftermarket, and were also being made by ESP, so maybe they had an OEM discount). However, the all-Japanese brands could compete openly and fiercely with the USA heavyweights at the time, so quality was high on many models across many price ranges.
Current dollar value is purely speculative at this point: I do know that even the low-range Akira Killer models sell for close to $600 or more (I had one).
Now, if you do want to trade it for my EVH Star, understand that I'm going to put the Akira on Ebay and see what kind of interest it draws. However, the lack of info on it may result in little interest, but there is the chance I may walk away a rich (ok, considerably less poor) man.
Personally, I really think you should put it on Ebay with a $2K reserve and Best Offer and let it ride. Heck, even if all you get is $400, that's 10x more than you paid.
