<html> <head> <META HTTP-EQUIV="Content-Type" CONTENT="text/html; = charset=us-ascii"> <meta name=Generator content="Microsoft Word 10 (filtered)"> <style>  </style> </head> <body lang=EN-US link=blue vlink=purple> <div class=Section1> As Wim said, = most pianos double in price every ten years. But in terms of ROI, no piano is a = good investment.  A dealer, who is able to get them at their best price, = should get the best return on the instrument.  But after the cost of doing business, even with his own money put into it, he’s only getting = about 5% ROI.  A dealer would do much better purchasing real estate, or = investing in mutual funds (Blech!).   My point is, many salespeople sell = pianos as “an investment”.   Sure if your child learns to appreciate music, you’ve gained something from your piano.  = But in financial terms, you don’t make money on a piano, and if you do, = the rate of return is horrible.    The guy should’ve been happy = that he was able to get out of his piano what he had paid for it 10 years = earlier!  I would be ecstatic if I could buy a BMW 760i now, and sell it in 10 = years for the same price I purchased it.    And before someone mentions it, yes = there IS a 760 BMW J</fon= t>  it’s even sold here in the U.S. = ….   430 HP of pure joy  ….  And if you wait 10 years, = they’ll probably only cost as much as a German piano! J   Jonathan Finger = RPT   -----Original = Message----- From: = pianotech-bounces@ptg.org [mailto:pianotech-bounces@ptg.org] On Behalf Of Wimblees@aol.com Sent: Sunday, April 20, = 2003 2:34 PM To: pianotech@ptg.org Subject: Re: market = value   In a message dated 4/19/03 = 8:03:39 PM Central Daylight Time, mfarrel2@tampabay.rr.com writes: I was under the impression that Steinways appreciated in value. What did = the D cost in 1970? Terry Farrell If you look at Steinway's web site, they say it is a good investment, = arguing that the value of a D, (or any model), bought now is 2 times more than = it cost 10 years ago. Well, that might sound like they pianos appreciate in = value, but if you look in the Ascot Book from 10 years ago, and compare the MSRP of = all the pianos to what the MSRP's are now, and you'll discover that ALL = pianos are twice as expensive today as they were 10 years ago. It's a sales ploy = that quite frankly, as much as I like Steinways, stinks. It is very = misleading, and to some customers, very confusing Case in point. About 3 years ago I was asked to appraise a 10 year old S&S S for a customer. When I told him it was wroth at most $20,000, he was shocked. = He had bought it 10 years earlier for $20,000, and were selling new for about = $36,000. He was lead to believe by the salesman that Steinways appreciate 100 = percent in 10 years. So he plunked down $20,000, in the hopes of doubling his money = in 10 years. He was mad at me for telling him he had been mislead. Wim </div> </body> </html>