A stand for a musical instrument is sturdy, durable and easy to construct. The stand supports a musical instrument, such as a guitar, in a substantially upright, readily accessible manner, yet the stand is easy to disassemble for ready transport or store in a low volume configuration. One embodiment of a stand includes a base for supporting a lower section of a musical instrument and a detachable neck that engages an upper section of the musical instrument. The base includes a front support rod, a back support rod spaced apart and extending parallel to the front support rod and a pair of side support rods extending between and connecting the front support rod and the back support rod. A plurality of legs extend from the base to provide stability. The neck support can be magnetically secured to the base in a substantially upright position when the stand is in an assembled configuration. When in a storage configuration, the neck support can be secured to base in a horizontal position, thereby providing a low profile.