What is the color of the paint where the wood is chipped. Paint chips are pretty easy to repair. All you need to find is a lot of PATIENCE. Match up the paint color as close as possible This will make or break the repair. Get a small amount of paint you don't need to spray it. Also find a very fine brush from a hobby shop, as fine as possible. Clean out the chip of any debris and paint the inside only of the chip. Any excess on the surface of the guitar should be wiped off with paint thinner. Put a small amount of paint on and LET IT DRY. I would say at least 3 or 4 hours. then reapply and follow the same time frame. What you have to do is build the level of the paint back up to the surface of the guitar. When you get it flush you can use some very fine 1000 grit sand paper and smooth it out. Then polish with wax and buff. I have done it on several guitars and many muscle cars. It works the same for both. to finsh off you can dab a bit of poly to seal it. and buff that out later. Just make sure you don't leave any residue on the surface around the chip. It take some time but the results can be excellent.
