A.K.A. The Big One!
When the action on a guitar is sky-high, it's very likely in need of a neck reset. We in the industry say the neck is 'shooting low'. Sometimes other solutions have been employed to bandaid the situation, like shortening the saddle, or shaving the bridge down. It would be important to reverse these interventions to restore the guitar to an optimal baseline. That's why a refret, a new bridge, saddle and nut are often also required - it's the big one for a reason!

guitar's action is sky-high, and a setup doesn't fix it
guitar feels extremely challenging to play (fretting hand fatigue)
saddle is low but action is high
bridge is suspiciously skinny
neck is shooting low

Guelph Guitar Repair is your home for neck resets
