Not necessarily a how much is it "worth" question, but if you were to purchase a Steinway model O from the "golden age" of pianos (1920), given the details below, how much would you pay for it?

First and foremost, you've played it and enjoyed it.

It's been cared for well, received some minor service work in the 1950's using Steinway NY parts for replacement, but no other work aside from regular tunings and a good cleaning by a RPT has taken place.

It resonates well for a piano of its particular age and could satisfy your day to day musical appetite for some time, but clearly it could do better with some restoration work, possibly a major rebuild. The soundboard has minor hairline cracking though no noticeable sound degradation occurs to even trained ears.

Also assume you are in the market for a piano without one currently at your fingertips. The alternative, to this point, has been a new piano of your likening for much more (up front) money.

And while I've painted this as a hypothetical situation for your opinions, as you may have guessed this is very much my current situation so I'm intrigued as to your answers and the reasons for them. Thanks as always, Piano World community.

Sounds like something I'd be interested in... where are you located?

Seriously, I'm thinking a Steinway O from the mid 1920's (in reasonable playing condition) would be a jewel of a piano to own.

A few members here own an older Steinway O and the recordings I've heard sound fantastic.

Rick

I'm in Denver, but I forgot (or did I??) to mention that the piano would be coming from a friend and must be delivered across a few states before it'd call my home its own home. Slight concern in that the piano has lived in relative humid climates and would be coming to the arid west, but if it's going to get a new soundbard eventually anyway...

The cost from the friend (truly a good friend) is unknown at this point yet he's stated "I'll make you a deal of a lifetime". He's downsizing to a condo.

In short. Hands off! If for some reason this piano doesn't end up in my home I'll gladly have him contact interested PW members

Hmm... my idea of "a deal of a lifetime" and a good friend's idea of "a deal of a lifetime" may be very far apart.

You might want to work out the details like "how much will it cost" before taking delivery. Also, it probably wouldn't hurt to have a piano tech take a look at it to see if it really is a deal of a lifetime.

Maybe some of the pre-owned Steinway pros will chime in with some good advice for you.

Good luck!

Rick

If you ever wanted or needed a complete rebuild, it could run you 30K or more. So you should be quite satisfied with the way it sounds now AND get it checked over by a knowledgeable tech to find out exactly what may be in store in terms of expenses in the future.

There are a myriad of possibilities. For example, the tech might say that the strings, pinblock, dampers, and action should eventually be replaced but the soundboard looks like it might just need minor repair. If you were satisfied with the condition of the case and didn't have it refinished, then the cost(not including soundboard replacement and refinishing) would be quite a bit less then a complete rebuild. This is just one possibility, but I don't think you can make a good decision without knowing precisely what the condition of the piano is right now.

I think one of the rebuilders at PW mentioned recently that Steinways of that age sell for ballpark of 1K per foot. This may vary a lot depending on how fancy the case is(type of finish and the design of the legs, lyre, and music desk). If you can get it for less than the usual price from your friend, you could also consider selling it to a rebuilder and buying a piano that has already been rebuilt. That way you have a better idea about the sound and touch of the piano ahead of time.

The "Golden Age of Pianos" refers mostly to the great popularity of pianos at that time and not so much to the quality of pianos built at that time.

If it really played well as-is, maybe $10k, max. I'd try for a little less, citing what the eventual rebuild costs could be to the seller.

This piano could sell for $10,000, or it could sell for half. The $1,000 per foot estimate that I had offered earlier was for basket case pianos, ones that had to be rebuilt before they could be played or tuned. When a Steinway is playable, even if it has a lot of wear, the general market is double what a rebuilder would pay.
I have often told the proud new owners of an antique Steinway that their $15,000 piano needs at least twice that to be a real piano. Find a tech, tell them what your expectations are, and ask them if there are any impediments that they can see.
If the plate is intact, I would buy it for $ 6,000 sight unseen.
Regards,

Thanks, Ed et al. This helps. I know my friend paid $10k for it about eight years ago after a general assesment was made by me and a more technical one by a RPT before he made the purchase. My only hesitation is that I haven't seen the piano since not long after that. But I know he'll ask for much much less than what he paid--he's a great guy and very generous to those he calls friends. The $6k sight unseen is a good barometer. Assuming the sale of his house goes through I think I'll be very happy to bring it to my home. Then with a trusted tech at my side we can assess and move forward.

If you were to have it completely rebuilt like new by Steinway, the price will not be that much less than a brand-new one. And I mean completely rebuilt. A partial restoration will vary by thousands depending on who does it and how far they go. Keep in mind that a new action and new sound board may very well improve the piano, it will not be a genuine Steinway replacement. Those can only be had by a factory rebuild.

Doug

But even the top rebuilders generally charge at least 20% less than the cost of a new piano. If they didn't they'd have great difficulty selling rebuilds. Some would say that the soundboards and especially the action replacements used by the best rebuilders are superior to those to those used at the Steinway factory.

I think you should have it evaluated before you buy it.

Unless you plan to play it as is for quite a while or think you'll only do a partial rebuild in the future, why buy a piano where the outcome in terms of sound and touch will be unknown?I might only take that chance if you could buy it for much less than the 6K it would cost a dealer.

What did the tech who inspected it 8 years ago say?

Why don't you both agree to have the piano appraised? You can each get your own appraisal if desired. That way, a fair price can be arrived at.

Since you two are friends, you would want a fair price for both of you, right?

I am pretty sure new S&S action parts can be found in non-factory rebuilds. I've seen them with my own eyes on occasion. Depending on the age of the instrument, the design and species of wood in a "genuine Steinway replacement" soundboard may not match the original intent of Steinway when they built the piano in the first place. I'm not saying it's bad or good, just clarifying for the sake of accuracy.

I know I'm reviving an old post---but I have updates. Exciting ones at that. The gentleman I've been describing as a "friend" is more appropriately described as a friend and mentor. He's just a good guy who's afforded me many great opportunities. He called recently to say the sale of his house is indeed going forward, and that the piano belongs in my home. There's a backstory to why he believes that, of which I'll spare you all, but:

HE'S GIVING IT TO ME.

I honestly struggled to accept the gift knowing the piano's worth, and I'm of course paying to have it shipped. I'm also making a significant donation to a non-profit group that he supports which I believe is the least I could do. But all the questions discussed here have seemingly become moot now that it's costing me relatively nothing to bring the Model O into my home. I'll just have my tech over to assess and move forward as needed. But I've played it enough to know the few thousand I'll spend up front will only be a fraction of the piano's actual value when it arrives at my door.

There are good people in this world. He's been blessed and didn't need the money. And I can afford a new grand piano (not a new Steinway, mind you), but he truly believes it belongs in my home. I'm so grateful.

I'll share the backstory as to why he belives that only if requested. It's sappy. The important part is I'm getting a Steinway

Congratulations! Remember, you can always give more to the charity in the future, as well.

We hear a lot of sapless stories here, MAFreeze. One with some sap might be a nice change of pace, if you can tell it without actually dripping.

Ha--I'll give the cliff notes version. Abbreviated sap.

I mentioned that I had made a general assessment of the piano for my friend before he decided to ultimately purchase it. That involved a trip to Atlanta where the original owner's daughter lived and was keeping the piano. He flew me down to play the it and check it over. Coincidentally, I had an old high school friend living in nearby Columbus, Ga doing her pharmacy residency. We were casual friends, in and out of contact over the years, but close enough that it made sense to call her up and even stay at her place for that night I was in town.

I did my "work" (seems wrong to call it that...I flew down to Atlanta to play on a Steinway for a couple hours...) and then met up with my friend. We went out with some of her friends, caught up, had a nice time.

Fast forward to the present. That friend is now my best friend and also my wife. We just had our first child last October. In the eyes of many who hear the story, it was the piano that brought us back together. And it's not totally untrue. I'd like to think there was a little more to it than that, but the current owner of the piano fully believes the Steinway was the catalyst for our relationship, and to him the piano belongs nowhere else but in our home. Who am I to argue? Regardless, I'm really looking forward to sitting my daughter on my lap and introducing her to the joys of music.

Lovely story. congrats on the piano and your daughter !

Wish I had a "friend" who felt like a certain piano belonged in MY home....

Awesome story - congratulations! Hope you have much happiness playing it, and you get the opportunity to "pay it forward" somehow.

I've never been more excited to pay something forward! I guess it's true. Kindness is contagious.

I saw one like that recently and I'd say $5K, tops, if that, even. Owner wanted over $20K.

I would not turn it down for free! However, I'd expect about $20K worth of work.

MAFReeze, that was sappy, but a good sappy. Congratulations on a wonderful piano and a wonderful friend.

Great story and a happy ending!! Life is beautiful....

MAFreeze - If all your sappy stories are that good, then please feel free to tell all you want!

Congrats on the wife, baby, and the piano... sounds like you are indeed a very blessed soul.