[pianotech] video interview Ronald Losby, President of Steinway

[Dale Erwin]

Jurgen 
"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?"

  I am totally with you there.  More marketing baloney from the Stwy Corp. I mean really!!!
 The value of any piano is market driven and as with any thing else age, condition and level of performance are what keeps any piano at some value level.
  Conversely. I have a 1972 C-7 Yamaha for sale. Ivory keys and little bit worn. New Hammers, reg, Decent Board.... etc asking price is....$14K? Guess what?That's about what one can expect to pay for a B in similar condition except the B usually needs more work.ie. New action/ditch the teflon,damper system.
Dale
P.s. Jurgen..Nice Web site!!


Dale Erwin RPT-
 Mason & Hamlin/Steinway/U.S pianos
Pre-hung Ronsen hammer sets/Abel parts
Sitka Soundboards & Supplies
WWW.Erwinspiano.com
209-577-8397

 
  





-----Original Message-----
From: Jurgen Goering <pianoforte at pianofortesupply.com>
To: pianotech <pianotech at ptg.org>
Sent: Wed, Feb 15, 2012 9:00 am
Subject: [pianotech] video interview Ronald Losby, President of Steinway


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







 
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