Kawai worth

[A440A@AOL.COM]

Bradley writes: 
>  He should not overvalue the piano; that could start problems with the IRS. 
I just do
>not know if $12,000 is being fair to the client based on the description of
>the piano. Personally, I would start setting the FMV somewhere around $15,000
> for tax purposes. But there is good argument for a few thousand dollars
>in either direction. Again, if someone asked me how much I thought they 
should
> pay for that piano, most likely I would recommend something like $10,000.
> This situation simply has a different set of criteria . 

Greetings all, 
    I agree, the dealer would like to see the piano valued as high as 
possible, since he has inventory of his own that this would be competing 
with.  An mint condition piano will be as attractive to most customers as a 
new one.  One problem is that pianos with a MSRP of $26,000 are being sold 
for $17-18,000, so the value of taking a percentage of the MSRP is vague.  
   One thing I DO know is that I don't want a confrontation with the IRS, so 
I must value the piano in a supportable way.  With the feedback from numerous 
sources, I now believe that $14,000 is a safe figure, and the piano needs 
$600 worth of regulation and tuning.  If called to justify the price, I will 
not be able to point to other sales as a basis, but will be able to compare 
to similar instruments on the market.  
   The whole issue of worth for musical instruments is a gray area, (think 
Stradivarius), and my 1946 Martin guitar is worth far more than a new one 
"just like it".   
Thanks to all that helped. 
Regards, 
Ed Foote RPT