Aim of this study is presenting a practical and accurate approach for objective evaluation of guitars that is suitable for performing by the different parties of the field. For this purpose, timbral qualities of classical guitars are investigated using the power of wavelet analysis. A complete system from data capturing to their analysis is proposed. A mass produced guitar that is described as a learning guitar by its production company and a luthier- made guitar are analyzed. Procedure is done with the piezo-film sensors attached to the guitar and the player holding it in a conventional playing position while plucking the strings with a pluck. Continuous Wavelet and Wavelet Packet Transforms are employed for analysis using MATLAB Wavelet Toolbox. High resolution results show detailed presentation of harmonic and inharmonic partials as well as time envelopes of them. This allows for objective analysis on the timbre of a guitar as well as making comparison between the timbral properties of two guitars.