I'm a newbie considering purchasing a used 1973 Yamaha Grand (5'8"). The owner is asking $7000 which seems OK according to Larry Fine's depreciation schedule (though many private sellers in my area seem to be asking for a percentage much lower than Fine would recommend). I will have a piano tech check it out for me, of course. But before I pay for that, I was wondering if this piano was even worth pursuing.

I've read a few replies in his forum stating that a Yamaha of this age is "at or near the end of its musical life." What are the consequences of this? Let's assume the tech gives it his OK. Does it still mean I will be shelling out significant cash in the near future for major repairs? Does it mean the piano will lose (or has lost) its value and be difficult to resell? Does it mean I should NEVER buy a Yamaha of this age, or that its okay to purchase but I should negotiate a lower price knowing repairs are coming?

The local Yamaha dealer, of course, says I can "do better" for that price and recommends buying a new Cable Nelson for almost the same amount. But I'd prefer my purchase to be as environmentally friendly as possible -- I don't see the need to buy something brand new when there are good used pianos already made.

I have appreciated very much all of the information posted in this form, and I thank you for any advice.

It is difficult to say exactly what will happen to an old piano at any given point, since so much depends on usage, environment, and things like that.

The price for this piano seems rather high, given its age. I have seen much newer equivalent pianos going for the same price. I would expect a piano like this to sell in the $3000 to $5000 range around here. But I do not know your local market.

The piano in question is a Yamaha G2 at 5'7".The first issue at hand is whether it is of gray market status.Easy enough,3 pedals it was sold via a Yamaha dealer in the states. 2 pedals it was most likely imported via a gray market entrepenuer as a preowned piano sometime years past.

35 years new even if in decent shape doesn't warrant 7K in my book. In the coming years,if you need to so call refurbish the piano(repin,restring,new hammer,shank flanges etc. you will spend 6-7K at a minimum so....you need to acquire it in the price range that BDB suggested in his post above 3-5K.

If you have the finances to go bigger $, pursue a newer preowned or...sample the higher end "brand new" better Chinese pianos.ex.Hailun,Broadman,Heintzman or ?.You'd be surprised what you can acquire "brand new" at what you planned on spending for this 36 year old piano.
If you decide otherwise,keep my # when you want to refurbish said piano in the very near future. In your situation you put your $ into the piano at the beginning, not in refurbishing it in the near future. Good luck!

Pianos don't last forever.
Pianos don't get better with age.

"I've read a few replies in his forum stating that a Yamaha of this age is "at or near the end of its musical life." What are the consequences of this?" Exactly as it sounds.

This is not an indictment of Yamaha, but of all Asian built pianos of that era. One would expect with a $7k expenditure to have a piano that would perform well for years and years. I appreciate your "environmental concerns", but a new or newer piano will give you more musical service for your investment.

Okay, thank you all for your advice. I've been researching pricing for other Yamahas and comparable names on Craigslist and I think you're right, the price is higher than market. BDB, I'm also in the Bay Area. Pianobroker, thank you for the tip -- it has three pedals, so not gray market. I'm going to keep looking.