<< > A customer of mine has asked me to do an appraisal of his 1950s > Steinway M for insurance purposes. Piano is in good condition. I have > not done this before. I would imagine he is looking for two, or one of > two values: Replacement cost of a new piano, and/or replacement cost > of a comparable piano (price being consistent with what a dealer might > ask for a similar piano). Anyone able to offer any guidance? >> I am often asked for an appraisal for owner's insurance policies. There are two kinds, depending on how much insurance the owner wants to pay for. One is replacement, the other is fair market. In the case of an older piano, they are often the same, ie, a 1920 piano is worth about the same as it would take to replace it. However, something like a 15 year old Steinway is a bit different. I know what those pianos are selling for around here, and I know what the dealer will charge to replace it with a new one, so those two prices are going to be somewhat different. Ed Foote RPT http://www.uk-piano.org/edfoote/index.html www.uk-piano.org/edfoote/well_tempered_piano.html <A HREF="http://artists.mp3s.com/artists/399/six_degrees_of_tonality.html"> MP3.com: Six Degrees of Tonality</A>
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