I generally will not hand my guitars to anyone even if they ask----I politely decline. I suppose someone might think that's rude but at the same time I never ask someone to let me hold their guitar, sax, bass, trumpet etc. either, nor would I touch someone's instrument without their permission. I personally think that's bad etiquette in the world of music (retail stores excepted of course).
I will voice appreciation of a fine instrument but won't ask to hold it. I played in a 18-19 member big band for years and there were personal instruments sitting all over the place all the time; everyone had a lot of money invested in them. Every reed player had two or (usually) three; the trumpet section players had two. No one handed their instruments to someone else. No one ever sat down at the drum set during a break and started banging away. During breaks, my guitar went into its hard case and stayed there.
If the circumstances were different and I had an El Cheapo in my hands and someone wanted to hold it, I'd agree to that.