market value

[Farrell]

----- Original Message ----- 
From: "Classic Touch Ent" <classictouchent@comcast.net>
To: "Pianotech" <pianotech@ptg.org>
Sent: Thursday, January 01, 1970 11:09 PM
Subject: Re: market value


> Steinway also doesn't mention that a loaf of bread (or practically 
> anything else for that matter) is now twice the price it was ten years 
> ago. Has investing gotten so dicey that people are now relying on piano 
> salespersons for investment strategies? Anyone got this client's phone 
> #.
> Maybe he could 'invest' in some piano lessons!
> 
> Rich Olmsted
> 
> > In a message dated 4/19/03 8:03:39 PM Central Daylight Time, 
> > mfarrel2@tampabay.rr.com writes:
> >
> > I was under the impression that Steinways appreciated in value. What 
> > did the D cost in 1970?
> >
> > Terry Farrell
> >
> >
> >
> > If you look at Steinway's web site, they say it is a good investment, 
> > arguing that the value of a D, (or any model), bought now is 2 times 
> > more than it cost 10 years ago. Well, that might sound like they 
> > pianos appreciate in value, but if you look in the Ascot Book from 10 
> > years ago, and compare the MSRP of all the pianos to what the MSRP's 
> > are now, and you'll discover that ALL pianos are twice as expensive 
> > today as they were 10 years ago. It's a sales ploy that quite frankly, 
> > as much as I like Steinways, stinks. It is very misleading, and to 
> > some customers, very confusing Case in point.
> >
> > About 3 years ago I was asked to appraise a 10 year old S&S S for a 
> > customer. When I told him it was wroth at most $20,000, he was 
> > shocked. He had bought it 10 years earlier for $20,000, and were 
> > selling new for about $36,000. He was lead to believe by the salesman 
> > that Steinways appreciate 100 percent in 10 years. So he plunked down 
> > $20,000, in the hopes of doubling his money in 10 years. He was mad at 
> > me for telling him he had been mislead.
> >
> > Wim
>