Determination of "Fair Market Value"? Kawai 500 5'10" Grandfrom1966

[Dean May]

A dealer price is not necessarily fair market value. We are talking about a
private sale, what would that bring. Normally it is 20-40% less than what a
dealer would charge. This piano is coming with no warranty, no sprucing up,
no free tuning and no free delivery. 

 

Since appearance rules in a used piano sale I'm having trouble believing an
older piano with a faded finish and extensive touch up would bring that
much. For a private sale I'd bet in the $3k-$4k range. 

 

Dean

Dean May             cell 812.239.3359 

PianoRebuilders.com   812.235.5272 

Terre Haute IN  47802

  _____  

From: pianotech-bounces at ptg.org [mailto:pianotech-bounces at ptg.org] On Behalf
Of Michael Magness
Sent: Thursday, August 23, 2007 9:05 PM
To: Pianotech List; Farrell
Subject: Re: Determination of "Fair Market Value"? Kawai 500 5'10"
Grandfrom1966

 

Thanks Terry, that's about the ballpark I was thinking but due to the age I
just wasn't sure, I suppose the valuation will depend on whether a family
member takes it or they decide to sell it. The guy's a lawyer but it's his
family. 

On 8/23/07, Farrell <mfarrel2 at tampabay.rr.com> wrote: 

>From the information given, I'll assume the piano is in "average" or "good"
condition.

 

IMHO:

 

A private sale midwest USA price might be around $4-5K - maybe as high as
$6K.

 

A dealer midwest USA price with some cleanup might be around $6-7K

 

Terry Farrell

----- Original Message ----- 

This is a 5'10" oak finish Kawai grand in remarkably good shape considering
it's age. Tuning pins are tight, action could use a regulation and hammer
shape but it doesn't appear to have been played much. The finish has some
sun fade, and was "touched up" in places on corners and around the fall
board which now stand out with the sun fade. I was asked to look at it for
the family the owner is in a nursing home, the house and contents are being
either split among relatives or sold. If taken by a relative it must have a
fair market value placed on it. I'm open to opinions/suggestions. 

Mike 
 


-- 
Michael Magness
Magness Piano Service
608-786-4404
www.IFixPianos.com <http://www.ifixpianos.com/>  
email mike at ifixpianos.com 




-- 
Michael Magness
Magness Piano Service
608-786-4404
www.IFixPianos.com
email mike at ifixpianos.com 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: https://www.moypiano.com/ptg/pianotech.php/attachments/20070823/919e2c02/attachment.html