>FYI >One of my customers tells me that there is an article in May 2003 issue of >Smartmoney Magazine on pianos as investments, Renner action parts, etc. > >Lance Lafargue, RPT I went and found a copy of the magazine and purchased it so I could read the article. I found the information there shallow and non comprehensive. It is more really, of a slanted buyer's guide than an article on pianos as an investment. The writer apparently visited a New York dealership and took advice from the owner - who was no less than selling his piano brands. The article made no mention of American piano makers other than Steinway, nor was there any mention the Korean (or Chinese) corner of the market, and only mentioned two European makes: Petrof and Fazioli. Obviously, the dealer the writer used as his reference was a dealer of Yamaha, Kawai, Petrof and Fazioli, and the information was slanted somewhat against his competitors. The article repeatedly mentioned that the Steinway piano was not necessarily the best investment, but did not bring out that an investment in a Steinway grand (and other high-end makes) has historically rivaled that of real estate investments. It stated that pianos will generally depreciate, "apart from some Steinways". It has been my experience that this is not so true. Steinway pianos which sold new for $5000 or less 30-35 years ago are now worth about 3 times that in an unrefurbished condition, and perhaps 5 to 7 times if rebuilt. (the article even pointed out that a "refurbished 1917 5-foot 7inch Steinway grand might cost you $35,000" but failed to relate that to the investment value that piano produced. Now, I'm first to admit that I am not involved in the current piano market, but I try to stay somewhat abreast of the value of instruments. That said, even my limited exposure over the years has revealed to me that most good quality grands will at worse hold their original purchase price value, even in a relatively unkept state. Agreed, the time value of money contributes to a very slow real depreciation of average makes - but nothing compared to that of automobiles or manufactured housing (mobile homes). The article goes on to use an example that "a 10-year-old Yamaha 48-inch upright, for instance, might retail for 65 percent of its new market value. So if the new piano costs $7,790, you might pay around $5000 for a used one." But they don't tell you that that 10-year-old Yamaha likely cost less than $5000 10 years ago. Surely, a vertical piano doesn't maintain the same investment value over the long term as a grand, but over a 10-15 year period, should at worst hold its value - at least long enough to learn whether or not Junior is going to make it to Carnegie Hall. One thing I was particularly disappointed in with the article, is that if this is to be considered a buyer's guide, it did not point out that each of the most well known manufacturers generally offers three grades of pianos. And while Baldwin and Steinway stamp a different brand name on each grade, Yamaha and Kawai do not. So, an uninformed buyer might go into a Yamaha dealership, for example, having been advised by the owner of a C5 that a Yamaha is a good piano, and come out with a GP1, believing they have purchased a piano of equal quality. At least the PTG got a plug, however. It mentioned that if shopping for a piano on Ebay (or other internet sales sites), that it was a good idea to have a piano "inspected" before you buy it, and that "the Piano Technicians Guild provides a list of qualified inspectors, as well as links to other sale sites" via its web site. That's my review. Jeff >Mandeville, LA >New Orleans Chapter, PTG >lancelafargue@bellsouth.net >985.72P.IANO > >_______________________________________________ >caut list info: https://www.moypiano.com/resources/#archives
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