I recently visited a new piano showroom that featured Yamahas and a few others including a new 7' Bosendorfer. When I told the sales person I had recently purchased a 7' Steinway and was just curious about how this one performed, she told me with quite a bit of conviction that Steinway, NY was about to be taken over by Chinese firms and the Steinway name would never be the same... somehow encouraging me to trade in my new "B" for this Bosendorfer as I would otherwise be very disappointed in the quality of what Steinway would become, let alone the value of mine would drop.

I initially took this as a thinly disguised sales tactic, but then thought this seemed quite odd to me as I had not heard, read, or sensed anything like her claim. An internet search found no clues either. Does anyone know how this China - Steinway connection has developed, if it has at all? Thanks.

Doug

Smoke and mirrors...

Chinese no -Koreans???
I'd ask that salesperson- Who owns Bosendorfer?

fingers

Well yes - of course that would be..... Yamaha now wouldn't it?

Doug,

You needn't worry that any Chinese manufacturer will invade your house, buy your piano and modify it to Dongbei specs. Now as to what the salesman said, sounds like an awfully familiar line of FUD tactics. I think that most of us have been told by an unscrupulous piano salesman that piano brand Y, which is a prestigious brand, is now made in China, buys parts from China, is owned by a Chinese company... No need to go back to that dealer.

Dan

That's what I thought too.... good to hear my gut was in tune.

Nothing wrong with trading up to a Bosendorfer but those aren't the reasons why. I love the imagery.

Mr. Kim of Samick (Korea) has clearly taken the largest role in Steinway's ownership but it is, of course, publicly traded. Steinway's previous leaders have stepped down and reorganized the board. There is plenty of speculation from everywhere about what that might mean for Steinway. I foresee bigger changes to the company in NY, and there are plenty of changes to read about in recent Steinway press releases.

When Yamaha bought Bosendorfer, they did things, not just symbolic gestures, to create stability in and commitment to Vienna. Read for yourself about what changes have occurred at Steinway if you are really interested. Read about their leaders, their strategies, their history and see if you don't see a more clear picture. These are all clearly smart people and business as usual will not bring Steinway back to historical production levels.

Sounds like a cheap sales tactic. I doubt Chinese firms are going to take over Steinway. Just enjoy your Steinway, Doug, no worries

Well, I don't know if the Chinese are buying out Steinway or not, but they own a lot of our national debt, based on what I read and hear on the news.

Chances are, they could afford to purchase Steinway, if they wanted it and it was for sale.

Right now I think they are buying up a lot of the worlds oil supplies (according to the news ).

Rick

Steinway is for sale. It costs about $25 a share recently.

Great line Dan!

Sam - great post. You took the words right out of my mouth.

Dear Folks,

Well....they did give Mr. Kim (Samick/Korea) a seat at the table. They bumped the number on the Board of Directors at Steinway, and added his chair to the table. I guess investing in a million shares will do that, yes?

http://www.steinwaymusical.com/images/ne...or%20110509.pdf

Follow that link for the Steinway press release on the purchase.

And yes; Yamaha bought Boosie!

Not to put too fine a point on it, but the Chinese government already owns a substantial portion of the United States. I don't think that ownership (or part ownership) of Steinway (if it happens) should in itself be a cause for concern.