How do you value a piano?

How do you value a piano?

Appraisers of used pianos and other consumer goods typically use three different methods to determine fair market value: comparable sales, depreciation, and idealized value minus the cost of restoration. Pianos typically depreciate to 78% of their value in the first year alone. After this, you can see it slowly continues to decline for 20 years, reaching its final number of 40% of its original value. As you can see, after the first couple of years, pianos will depreciate by about 5% per year. Pianos are so large, that to dispose of them you have to get specialist movers to take them away (for a price). This is the reason you see Upright and Grand pianos so cheap on eBay. The seller can sell the piano for next to nothing, just so they don’t have to spend any money on the removal companies. Refinishing can be anywhere from $1500-$7500+ depending on the type of piano, the condition of the piano, where the piano is located and many other things. There are lots of factors in determining a refinishing quote that can affect the cost of your quote. Since pianos hold their value for a long time, a new acoustic piano, when cared for, can be an investment that will last your family for generations. However, if you’re buying an acoustic piano on a limited budget, a used piano is a great choice, as long as you make sure to get a quality, well-cared-for piano.

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How do I know if my old piano is worth anything?

“The best way to determine the value of your old piano is to get it appraised by a professional,” he said. However, often a giveaway piano is given away because it hasn’t been played in years or the owner knows that it is need of some repairs and is not interested in putting any money into it. Worth the Cost Moving a piano from one place to another may seem expensive, but it’s well worth the money. You won’t have to ask friends to help you and you won’t have to waste your time moving the heavy piano all day long. Instead, you will have a professional taking care of it for you while you sit back and relax. You can easily buy and sell all kinds of musical instruments in a pawn shop, including guitars, drums, flutes, violins, even pianos.

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