When Paul Smith was 16, he dreamt about a guitar with a dragon inlaid down the neck. 20 years later, he thought it was time to make his dream a reality. In 1992, the PRS Dragon guitar was born. With a list price of $8,000 it was an ultra-high-end "collector" guitar. Other Dragon models would follow, including the Dragon II, Dragon III, Dragon 2000, Dragon 2002, Dragon 2005, and the 25th Anniversary Dragon.