The pianos were said to be in salable condition, and, unless otherwise noted, were for sale by a private owner, were not rebuilt, and were not Steinways. Twenty-five technicians returned a questionnaire in which they listed the average low and average high selling prices (not asking prices) in their area for the pianos described here.
Fine from his contacts around the country. The list on the next page shows the approximate selling prices of various ages, makes, and types of piano, gathered by Mr. Even where the seller knows the informed value of the instrument, the asking price is usually set high in the expectation of bargaining, and you can generally expect to agree at a price of from 10 to 30 percent less. If the piano needs considerable repair, encourage the technician to tell you this in front of the seller, as it will better your bargaining position. In most private transactions, the seller hasn’t the foggiest notion of what the piano is worth, and the asking price is vastly over-inflated, often based on such considerations as that “Uncle Joe liked this piano, and he played all his life, so it must be a fine instrument.” In these cases, there’s plenty of room for negotiating.
Unfortunately, the ignorant value is more often than not what the piano actually sells for. For every piano, there is what I would call an “informed value” and an “ignorant value.” The informed value takes into account the technical quality and condition of the piano, whereas the ignorant value does not, being based primarily on how the piano case looks (if even that). Piano prices vary greatly depending on the locale and the particular situation.The value of a piano also depends very much on how knowledgeable the seller and potential buyers are. Ultimately, something is worth only as much as someone will pay for it. Much of the information here is from The Piano Book by Larry Fineįor a great source of additional information check out our Piano Forums today! To help you determine the value of your piano. While the main points are still valid some of the prices will have changed. Please note, this article was written back in 2009. Helping You Determine the Value of A Piano
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