How to know the value of a piano (in mint condition)

[Will Wickham]

Hi Ed,

Larry's book (second edition is what I have) has some pretty good  
general info on pages 141-143. I go through a few steps to appraise a  
piano: First, I use the depreciation schedule on page 143 to  
determine the current value of older pianos.   I find (or estimate)  
the age of the piano then multiply the suggested retail price of the  
closest available model that is currently available by the indicated  
percentage. That gives me a starting point. Second is to survey the  
web for asking prices (and actual sale prices when I can find them)  
for pianos of similar model and age. The third step is to call around  
to "local" dealers to see what they might ask or expect to get for  
the particular piano. The final step is to consider all of this along  
with Larry's advice as well as the condition of the piano and come up  
with a high figure (what the piano should be insured for or  
replacement cost) and a "likely sale price" figure (what I'd  
recommend the customer ask for or expect to get in a sale) for the  
market conditions in the region where the piano is located.

While the first step doesn't apply in all cases (since you just can't  
buy a Wing and Sons grand or any of the tall old upright style pianos  
new these days) the others all have some bearing on all pianos.

Having said all of this, appraising is not an exact science, which I  
think is why we don't have a comprehensive guide of used piano prices.

Good luck!

will wickham

On Apr 5, 2006, at 8:46 PM, ed miller wrote:

> I understand that there is much more to appraising pianos than just  
> knowing a single listed value, but I can't find a comprehensive  
> guide to "list prices".
>
> The only book I know of is the The Piano Book by Larry Fine. I have  
> not found it too useful because so often a particular piano or  
> model piano I am looking for is not listed.
>
> Also the Piano Book doesn't factor date of manufacture into the  
> listed value, all the pianos are listed according to model. I don't  
> understand this.....Wouldn't a piano of the same model, but  
> manufactured 30 years earlier be worth a different amount (whether  
> it be more or less)?
>
> Can anyone help me understand this, and suggest some other  
> resources to help me appraise pianos?
>
> Thanks, Ed
>