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You'll have to pay Duty and VAT on both the shipment value declared and the cost to send it to you I would say unless the seller has built the duty in to the price you have paid them then you wouldn't pay Duty and VAT as the sender has pre-paid it.
How much you pay depends on how much the sender declares and if UK Customs buy that and not decide to prize it open and assign the guitar to a tariff code.
You can always refuse the item and it's sent back but that doesn't mean the duty is removed, you would usually have to prove that you sent it back then it gets waived. Chances are it'll be one of those little "There's a fee to pay" cards and you'll have to settle that online. Some couriers will just hand the parcel over then send you an invoice later on.
With regards to CITES, I'm not so sure.
Formerly TheGuitarWeasel ... Oil City Pickups ... Oil City Blog 7 String.org profile and message