A Steinway bought for $4500 in 1965 is "worth" about $12K - $16K in today's market (William Monroe). Original price was about a year's salary for someone. 45 - 50 years later (today) it is worth about half a year's salary. A new Steinway depreciates $7000 in the first five year (Wim Blees) Rebuilt B: 26K (1993) to 45K in 2012, "their value doesn't drop like a stone" (Dale Erwin) while these are mere examples, they do reflect the reality of the appreciation or depreciation that these instruments have. None of these are examples of a "fine [financial] investment" . I would say a fine investment would start at 5% above inflation. At that rate, in 20 years an asset would indeed go up 3 - 4 times in value. Now where is the Steinway that cost $40,000 in 1990 that sold for $120,000 and more, as the President of Steinway clearly states? How do they get away with stating this, or what am I not understanding? Jurgen Goering -------------- next part -------------- An HTML attachment was scrubbed... URL: <https://www.moypiano.com/ptg/pianotech.php/attachments/20120215/12fb65f3/attachment.htm>
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