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#1326211 - 12/15/09 09:16 PM Selling your old digital piano
TheCriticFromSouth Offline
Full Member

Registered: 11/26/09
Posts: 37
Loc: Cambridge MA USA
I imagine that digital pianos like all electronics must lose value very quickly. If you hold to one digital piano for two years, what percentage of the original price you might get for it? As a matter of fact, can you still sell it or does its value get so low that it would be equivalent to giving it away?

I need this information to decide upon a purchase.

Thanks for any responses.
_________________________
Roland HP-207
Alfred's All in One Adult Piano Course Book 1

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#1326264 - 12/15/09 10:25 PM Re: Selling your old digital piano [Re: TheCriticFromSouth]
LesCharles73 Offline
500 Post Club Member

Registered: 03/24/07
Posts: 739
Loc: Denton Texas
They depreciate, but not quite that fast. I would ask at least 50% of the purchase price after 2 years of use as long as it's in good shape.
_________________________
Les C Deal





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#1326333 - 12/16/09 12:32 AM Re: Selling your old digital piano [Re: TheCriticFromSouth]
ChrisA Offline
3000 Post Club Member

Registered: 12/28/08
Posts: 3841
Loc: Redondo Beach, California
It makes a huge difference if your DP is still in current production. Any model that is still being made and sold is worth at least 2/3 its current discounted retail price. But if you have a discontinued model the price falls to 50% or less over time.

Some brands hold value longer. Yamaha and Roland do well. The lower priced brands not as well.

That said, many sellers thing their stuff is work more than it is.


Edited by ChrisA (12/16/09 12:42 AM)

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#1326614 - 12/16/09 12:36 PM Re: Selling your old digital piano [Re: ChrisA]
Gyro Offline
4000 Post Club Member

Registered: 04/24/05
Posts: 4533
They do depreciate a lot. A digital
piano is essentially a computer
with a keyboard and speakers,
and they are much like pc's. How
much can you get for a 2 yr. old
pc?

Counterbalancing this are all
the advantages they offer to
a pianist: low purchase price--
you can get a good dp, essentially
a grand piano, for less than
$1000; light weight--you can
move one yourself instead of
having to hire movers; volume
control--play anything anytime
anywhere without disturbing
anyone; durabilty and reliability--
a dp can last indefinitely
(my neighbor has the Korg
that I bought in 1989, and the
last time I checked, a yr.
ago, it was still in perfect
condition); no tuning or maintenance
ever.

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#1326820 - 12/16/09 04:43 PM Re: Selling your old digital piano [Re: Gyro]
KeVan Offline
Full Member

Registered: 10/31/09
Posts: 60
Not as much as you think. Look at the P80, that thing has been around for awhile and people pay good money, as well as the P140.

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#1326906 - 12/16/09 06:22 PM Re: Selling your old digital piano [Re: KeVan]
MarkL Offline
500 Post Club Member

Registered: 05/26/07
Posts: 728
Loc: Chicago Suburban
I paid $1000 for my P140 and sold it 2 years later for $700. I benefited from the fact that there was a promo when I bought it that included a free Yamaha stand. So I'd try to get some kind of extras when you buy that will help make it more salable later.

If you really want to avoid depreciation, buy used. I bought a used P90 for $350 over a year ago, I could probably sell it for at least that much today, maybe a little more.
_________________________
Yamaha P90

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#1326974 - 12/16/09 07:52 PM Re: Selling your old digital piano [Re: TheCriticFromSouth]
Psalm23 Offline
Full Member

Registered: 11/05/08
Posts: 71
Loc: Boston
Originally Posted By: TheCriticFromSouth
I imagine that digital pianos like all electronics must lose value very quickly. If you hold to one digital piano for two years, what percentage of the original price you might get for it? As a matter of fact, can you still sell it or does its value get so low that it would be equivalent to giving it away?

I need this information to decide upon a purchase.

Thanks for any responses.


As mentioned above it depends on the brand and the price paid. I have a Fender Twin all tube amp. I paid $1,100 for it delivered. The discount price at GC is $1,600. I know I can sell it easy for $1,000. My 4 year old Martin guitar has lost no value. I believe keyboards have huge markups. My Roland RD700GX cost me $1,900. I believe I have not lost much on depreciation. However, soon as the new model comes out, my Roland value will drop.

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#1326994 - 12/16/09 08:26 PM Re: Selling your old digital piano [Re: Psalm23]
snazzyplayer Offline
500 Post Club Member

Registered: 07/26/09
Posts: 983
Loc: Earth
One must remember, especially with older instruments that the value of the dollar back then was much higher than now.

So if you bought a $10,000 instrument back in 1959, and it's worth is considered $10,000 on the market today, you actually have lost money.


Snazzy
_________________________
Semper Gumby: Always flexible \:^)

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#1327184 - 12/17/09 01:32 AM Re: Selling your old digital piano [Re: Psalm23]
ChrisA Offline
3000 Post Club Member

Registered: 12/28/08
Posts: 3841
Loc: Redondo Beach, California
Originally Posted By: Psalm23


As mentioned above it depends on the brand and the price paid. I have a Fender Twin all tube amp. I paid $1,100 for it delivered. The discount price at GC is $1,600. I know I can sell it easy for $1,000. My 4 year old Martin guitar has lost no value. I believe keyboards have huge markups. My Roland RD700GX cost me $1,900. I believe I have not lost much on depreciation. However, soon as the new model comes out, my Roland value will drop.


Guitars and amps are different. The technology does not move very fast. With amps it seems to be moving backwards with the vintage amps going for premium prices.

But keyboard technology is moving fast and the old keyboards are just not as good as the new ones.


Edited by ChrisA (12/17/09 01:34 AM)

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#1327930 - 12/17/09 11:35 PM Re: Selling your old digital piano [Re: ChrisA]
TheCriticFromSouth Offline
Full Member

Registered: 11/26/09
Posts: 37
Loc: Cambridge MA USA
I bit the bullet and bought a Satin Ebony Roland HP-207 today. It cost me US$2,995.00, delivery included, from an authorized dealer in Nashua, NH. They will be delivering it this Sunday.

I have to say that the lower price compared to an acoustic piano and the fact that some neighbors were not very happy with the idea (I tried to negotiate first) were key factors in choosing the digital piano. Also, I will be moving out from my current apartment in 6 months.

I believe I will be enjoying this digital piano for several years.
_________________________
Roland HP-207
Alfred's All in One Adult Piano Course Book 1

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