[CAUT] Hamburg Steinway

[Paul T Williams]

Hi Wim,

Our professor wants a value quote for insurance purposes.  However, when I 
appraise an instrument, I give three prices: Replacement cost of brand 
new; The price a "downtown" store might put on it; and a price she could 
expect to advertise if she were to sell it herself.  She isn't planning on 
selling it (I don't think), but in Lincoln, NE, she would have to 
advertise a huge area probably from Chicago to Dallas, or farther....

Yes, "good" condition meant that it needs work albeit several thousand 
dollars worth, but if a new one costs $140,000, then several thousand 
isn't so big in perspective.....

Best,

Paul




Wimblees at aol.com 
Sent by: caut-bounces at ptg.org
05/04/2007 06:53 PM
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Re: [CAUT] Hamburg Steinway






In a message dated 5/4/07 11:56:27 A.M. Central Daylight Time, 
pwilliams4 at unlnotes.unl.edu writes:
Charles, 

Do you believe a 30 year old Hamburg in good condition (other than needing 
stringing and a new stack) might fetch between $45-50,000? or more? 

Thanks 

Paul 
Paul
 
You said the piano is in good condition, yet it needs to be restrung and 
needs a new stack. That is not exactly chicken feed. Or is that why you 
consider the piano in "good" condition, instead of "excellent" condition?
 
There are some questions that need to be answered before an appraised 
value can be put on the piano. 
 
Why does the professor want it appraised? Is she looking to sell it, or 
for insurance purposes? If she's looking to sell it, how long is she 
willing to wait, and how far afield does she want to advertise, and for 
how long? If it for insurance, does she have "replacement value" 
insurance, or "as is" insurance? 
 
A shameless plug. For more information on appraising, please attend my 
Estimate and Appraising class at the convention.
 
Wim 



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