[pianotech] True value

[Delwin D Fandrich]

I doubt that either piano actually increased in "value." They may have
increased in the numerical dollar amount someone was willing to pay for them
but those dollars have lost real value over that period of time. If you
factor in inflation over the period you'll find that both pianos actually
lost in terms of real value. To be said to have the same value today that it
had in 2006, a piano originally selling for $35,000 would have to sell for
approximately $39,200 in today' dollars. To be said to have increased in
value it would have to now sell for something over that. 

 

ddf

 

Delwin D Fandrich

Piano Design & Fabrication

6939 Foothill Court SW, Olympia, Washington 98512 USA

Phone  360.515.0119 - Cell  360.388.6525

del at fandrichpiano.com  <mailto:del at fandrichpiano.com> - ddfandrich at gmail.com

 

From: pianotech-bounces at ptg.org [mailto:pianotech-bounces at ptg.org] On Behalf
Of Wim Blees
Sent: Sunday, July 31, 2011 5:47 PM
To: Pianotech
Subject: [pianotech] True value

 

Two things about values and inflation.

In about 1998 I was asked to appraise a 5 yr old S. The customer bought it
because the salesman told him it would incease in value, more than the stock
market. He actually got mad at me for telling him his piano was worth $5000
less than what he paid for it.

Steinway claims their pianos increase in value. They might, but not any more
than any other piano. I compared the retail price of 1960 Starck spinet with
what that same piano sold for in 1995, with what a Steinway grand was sold
for in 1960 and again in 1995, and both increased in value the same
percentage. If you did the same with almost any brand, iver a similar time
frame, you would find the same thing. What will make a Steinway worth more,
however, is the quality of contruction. But if both pianos were properly
taken care of, the values would be comparable.

Wim Blees
Hawaii


Sent from my HTC PURET, a WindowsR phone from AT&T

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