My neighbour is leaving the country. She want to sell me a Baby Grand GP142 for $1500. Is this a good price? I don't want to cheat her the money and would offer her more if necessary. What is the reasonable fair price for the baby grand? I don't know anything about piano and will be buying the piano for my 4.5 years old to start learning. Is Pearl River a good brand?

You don't say how old the piano is. Pianos, like most things, decline in value with age.
http://www.pianoworld.com/value4.htm

You could probably call a dealer like this and ask them how much a new one is, then apply the appropriate depreciation rate to determine fair market value.
http://www.naturalpiano.com/?m=shop&prod=218

Article on Pearl River
http://www.forbes.com/global/2002/0513/040.html

Baby grand seems excessive for a four year old, but it almost sounds like you want to help your neighbor out.

The piano is 3 years old - like new. It is definitely excessive for 4 years old. I most likely buying it. I just have to figure the fair price -

According to the depreciation chart, approximately 80% of whatever your neighbor paid for it should be the the current FMV.

I found this site when I was looking for a piano for my daughter. Blue Book of Pianos According to it a new Pearl River GP142 is about 9300 USD.

Welcome to the forums myip!

I say $1500 is a good deal. However, I would have a piano technician check out the instrument to ensure that there is no cracks or other problems. If everything checks out, buy it!

- Mark

Thanks for the reply. I just got the piano from my neighbour. The piano is now in my house. She just want to get rid of it for $1500 because they are moving out of the country in 2 weeks. Technician came by and check it out and everything work. -- almost new condition.

Congratulations. Enjoy your new piano!

I wish I had neighbours like yours.

Congrats.

Can i move next to you and ship you off to another country? that's a steal for a piano... I hope you enjoy it... despite my jealousy...