Ed, Two or three appraisals is a good idea. There's too much variation in individual instruments, markets, subjectivity, but 14K sounds ballpark. If a question arises later, a piano like that might only be worth 7K after a couple of hard university years. Check also pianomart.com . I believe the appraiser must not have any employment affiliation with the institution or donor. -Mike
This PTG archive page provided courtesy of Moy Piano Service, LLC