A stand (10) for supporting a musical instrument (12), such as a guitar, in an upright position when not in use and for retention on the instrument when the instrument is in use. The stand comprises a mounting block (22) secured to the bottom edge (20) of the instrument (12), and a flat stand member (24) pivotally connected to the mounting block (22). Flat stand member (24) can be transitioned between a first, closed position adjacent the rear surface (18) of the instrument (12) and a second, open position spaced away from the rear surface (18) of the instrument (12) where it supports instrument (12), and is spring-loaded such that it automatically returns to the first, closed position when the instrument (12) is lifted for use. A retaining clip (26) and catch assembly (32) cause the stand (10) to lock into open position when positioned on a horizontal surface.