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The piano owner offered it to Rick & Company for $1500 but accepted Rick's offer of $900 with the stipulation that the pawn store would be responsible for pick up. The piano was evidently part of an estate but was stored in a garage and was horribly out of tune. Was said to be 1930's-vintage. Cabinet looked good on television. Usually I think Rick is right on when he buys, but - equipped with my new PW-supplied knowledge on old piano values - this time I think he might have overpaid. Anyone else catch the episode? What are your opinions? Are unrestored, unknown internal condition Howard grands really worth $1k?

It is not worth more than a couple hundred to someone who knows pianos. However, I can easily imagine someone buying that piano at the pawn store for $2000 or even more.
They wont find out what they did until they later try to sell or pawn it.

His pawn shop is now famous - and because of the episode, so is the piano. I'm sure that will work in his favor.

I think pawn shops are doing quite well now, with the poor economy we’ve had in the last couple of years. Lots of people down on their luck and needing money, so they frequent the pawn shops and sell/pawn their stuff for little or nothing.

Personally, I’ve never felt comfortable buying from pawn shops because the merchandise was probably acquired as a result of someone else’s misfortune and hardships. But, who gives a damn about anyone else any more, right?

However, I have seen the “Pawn Stars” TV reality show and it is interesting; but not as interesting as “American Pickers”.

Rick

It's one of my favorite shows. I like all those shows that talk about the history of things and give you an idea of what they're worth.

i love the show... that and american pickers gives a vivid walk back into great antique history and american culture.

I saw that episode. Rick was well aware that it was Baldwin's cheaper brand, and also he shows some knowledge about the costs of restoration and all the things that can go wrong with a piano. My guess is that he knows that piano will easily sell for 1,500 dollars in his shop if tuned. He also has his own guys to move it, which cost him very little. Since his business is re-selling things, it seems it's a pretty easy 500 bucks, if not 1000 bucks profit.

I love the show. Simply awesome.

But I hate pawn shops. Especially a local chain of them here in omaha. Wont name the chain, but they are complete jerks, and rip people off so bad.

My mom once took a $600 sewing machine in to make a quick buck. It was near new, used 2 times. They said they will give her $50 for it. And my mom said no way. Later on she just needed money, and they agreed to buy it for $75. They turned around and put it up for sale at $550.

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Even worse, I went to go check out some Violas the one shop had. Great selection of used musical equipment. Had one 16" viola, which is what i would need.

Decided to give it a look over. All strings were snapped and bridge broken, so couldn't play. The back was separating, and a few scratches.


$400. Four hundred dollars. I took down the brand and model.

Went home and looked it up online.

BRAND NEW THE VIOLA SELLS FOR $210, top price. With case and bow which this one clearly didn't have.


Ive never been into a pawn shop since. I refuse to.

Wow!! Good thing you took the time to be an educated buyer. Reminds me of a lot of stuff on Craigslist. A lot of people list things for as much as they go for new.

Ken

I was in the antiques trade for many years.

Watching both the pawn shop, pickers, and now auctions is great entertainment.

Antiques Roadshow is much better but most often valued over market. Just as with pianos, there are many 'valued' prices. Sale if you want to hold onto it for a year, quick sale, sale in NYC, Europe, or boonies; replacement cost, insurance value, estate value.

Watched the Auction people get stuck with a white piano that they couldn't even get an opening bid of $600 on. It passed.

What's even odder is that on eBay, I've sold things at auction for which people have paid, if you include shipping, within a few percent of the cost of a new one. Boggles my mind every time!

I saw a French Selmer silver cornet at a pawn shop once. It needed a little work, but not much. I thought about buying it, they price was $60. I wish I would have bought it now that I learned the value of this particular horn to be about $1200 in restored condition. I could have put a few hundred in it and still doubled my money. I went back to the shop and it was gone. Oh well, live and learn. BTW not all pawn shops are run by jerks, but almost all of them are willing to negotiate a price.

Maybe Rick's going to have Chumley take lessons...