Steinway

[Farrell]

I have not purchased a salvage Steinway for rebuilding. My understanding is
that most salvage Steinways - models M through D - can be purchased for
between $5,000 and $10,000 in most areas of the USA. Perhaps a bit more for
a real nice art-case. You suggest most unrestored Steinways (are we talking
salvage here - as in needing complete rebuilding to perform like new?) go
for as much or more than a new Yamaha C3 - so we are talking more than
$20,000 for a typical rebuildable Steinway? And then the restored Steinway
sells for 50-60% more, i.e. $30,000 to $32,000? How do you completely
rebuild a Steinway for $10,000 to $12,000 or less? I think most fees from
competent rebuilders that do a reputable job will range from perhaps $15,000
to $25,000 or so for what most would consider a complete rebuilding job - of
course it depends on all that is done to the piano - new soundboard or not,
etc. It doesn't seem to me that the numbers add up here.

Terry Farrell

----- Original Message -----
From: "Tom Servinsky" <tompiano@gate.net>
To: <pianotech@ptg.org>
Sent: Monday, July 30, 2001 9:35 AM
Subject: Re: Steinway


> Terry,
> You are missing the point. How many products, useful daily products, have
> you bought for home and personal enjoyment which have maintained it's
> original cost or appreciated  in it's value? Any value!
> The $45,00 Lexus 400, the $85 toaster, $900 kitchen table, or how about
the
> $28,000 22 ft I/O boat you just couldn't live without?  Very few items
built
> for this world economy can stand up to the Steinway legacy.
Definitely,not
> a Story & Clark grand.
>   I do know that if it weren't for Steinway pianos many rebuilders and
> remanufactures would not be able to have the type of successful business
as
> they do. The Steinway piano, both used and new, has supported many
> successful businesses for the past century.
>   Everyone who plays the piano has been "brain washed" that Steinway is
and
> has always been the greatest piano institution ever built. It was designed
> and built it right from the first day and have changed very little ever
> since ( aside from the CBS years). There's ample proof Steinway has
> withstood the test of time ( 2   world wars, great depression,etc) and has
> continued to build a fine product.    Again, many can argue the down and
> dirty truths of the "real" going's on, but the public's perception remains
> dedicated to the notion that if you want value, buy a Steinway.
> I'm not sure I follow your rationale about loosing $80,000 value, but in
our
> neck of the woods, unrestored Steinway grands sell as high, if not higher,
> than a new Yamaha C3. Restored Steinways  sell for 50-60% above that.
That's
> not too shabby!
> I think that what it "boils" down to is we are  debating trivial
> philosophical explanations as to why the sell & resale market is what it
is.
> The costs of manufacturing new pianos is pretty cut and dry, as their
costs
> are driven by actual operating costs. The resale market, on the other
hand,
> is based upon other factors. Is the company still in business, are parts
> still available for that model, bla bla bla. It's also driven by
perception,
> the thing  I think this debate is rooted in.
> I get a kick out of watching the PBS antique auction channel. I love how
> they come to the agreement on a particular item's worth.  It's purely hype
> and perception that drives the collectable market, and Steinway is apart
of
> that market.
> Tom Servinsky, RPT
> ----- Original Message -----
> From: "Farrell" <mfarrel2@tampabay.rr.com>
> To: <pianotech@ptg.org>
> Sent: Sunday, July 29, 2001 7:44 AM
> Subject: Re: Steinway
>
>
> > Maybe the bottom line in my rant was that you take a Steinway that costs
> > between $35,000 and $90,000 today (model M through D). Take the same
model
> > that is 70 or 80 years old, and it is worth $5,000 to $10,000. Take a
> Story
> > & Clark (or any other Brand X) that costs - how much - maybe priced like
a
> > Kawai or so - $15,000 for a six-foot black (oops - ebony!) grand. What
> would
> > a 75 year old Sorry lil' Cluck be worth today - maybe $2,000 (I realize
> > zero, but you know as well as I that if the keys make some piano-related
> > noise, someone will buy it - A Diamond in the Rough!). So which piano
> holds
> > its value better, one that looses $80,000 in value, or one that looses
> > $13,000? Or let's stick with the six-foot example - one that looses
> $40,000
> > in value or one that looses $13,000? Don't get me wrong - I would rather
> > play a Steinway for 75 years rather than the cheaper piano - but we are
> > considering a money investment here, not how nice a piano plays or
sounds
> > (or at least the ones that sneak out of NY with non-reverse-crown
> > soundboards).
> >
> > I think the point is that no piano is a good long-term investment of
money
> > with the intention to grow your money. So why advertise it as such?
Unless
> > of course you are willing to make a profit at any cost. It may well be a
> > better investment than a porterhouse steak (in the long term), but
> > advertisement of it being a quality investment of money is BS. I have
> heard
> > the story many times, and I know well that many, many folks read that
junk
> > and believe it. You can call them dumb, but just like Ed McMann, et. al.
> > selling sweepstakes tickets to old folks that use their life savings to
> > order $5,000 magazine subscriptions and then fly to Tampa to claim their
> > non-existent winnings, it is just plain unethical. Just because an
> > advertisement does not tell an outright lie, it is not necessarily
> truthful.
> > They are simply preying on folks that are not piano knowledgeable, and
> that
> > stinks.
> >
> > Terry Farrell
> >
> > ----- Original Message -----
> > From: "Steve Grattan" <lostchordclinic@ameritech.net>
> > To: <mfarrel2@tampabay.rr.com>
> > Sent: Saturday, July 28, 2001 1:35 PM
> > Subject: Steinway
> >
> >
> > > Hi,  I looked up a new Steinway in the 1991 Ancott Directory and the B
> was
> > > $37,040.00 and the D was
> > > 56,040.00.  Both are ebony prices.
> > >
> > > Steve Grattan, Associate
> > > Lost Chord Clinic
> > > 1602 Griswold Street
> > > Port Huron, MI 48060
> > > lostchordclinic@ameritech.net
> > >
> > >
> >
>