market value

[Farrell]

I was under the impression that Steinways appreciated in value. What did the D cost in 1970?

Terry Farrell
  
----- Original Message ----- 
From: <A440A@aol.com>
To: <pianotech@ptg.org>
Sent: Saturday, April 19, 2003 5:16 PM
Subject: Re: market value


> Ron writes: 
> <<  What's the very approximate market value 
> for an original condition (un abused by anything but a Pianodisc 
> installation) 1975 New York Steinway D (Teflon action), and the equally 
> very approximate value of the same piano competently rebuilt with new 
> action, pinblock, soundboard, etc. No refinish.<< ]
> 
> 
>    Greetings, 
>   The "value" is what they are selling for, and that can certainly change 
> with the fortunes of war or dotcom, so I will just relate a very recent sale 
> that may be used for comparison.  
>     A Steinway D, (1970) in that same condition was sold for $24,000.  Funky 
> finish but a usable action that had been replaced by Steinway and Sons in 
> 1990.  It had worn hammers but everything was there.  Buyers are happy, ready 
> to spend a grand to shape, travel, regulate, level, tune,(Broadwoods),  minor 
> pinning attention. 
>   Buyers happy, seller was a little chagrined that that is all it brought.  
>    The completely restored D should be worth more, depends on the quality of 
> the rebuild.  I have seen too many poorly built or installed soundboards to 
> guess at a figure, but I know of one such job that sold for the same price as 
> a new D, (this was two years ago, I believe).  I have seen other after market 
> soundboard replacements that would have dropped the price below the original 
> condition older one.  
>  Hope this helps,  
> Ed Foote RPT 
> www.uk-piano.org/edfoote/
> www.uk-piano.org/edfoote/well_tempered_piano.html
>  
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