This is a very well-built, sturdy stand.  There certainly are cheaper models but many have rubber coating that leaves marks on the instrument and can damage some finishes.  This has a nice microfiber coating and holds the guitar very will.  This could be used for either an electric or acoustic guitar.  It's very easy to set up and take down and is very compact for traveling.  The little pick holder slots on the top seem like a minor component of the stand but are very convenient!  They hold at least 4 picks and I love being able to swap around while I'm playing without losing picks or having them drop on the floor.