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#1997617 - 12/10/12 10:18 PM Fair Price for 2004 U5
mdsdurango Offline
1000 Post Club Member

Registered: 01/01/04
Posts: 1755
Loc: Durango Colorado
I showed my U5C last weekend. I've put what I think is a low enough price to sell it. Built in 2004 (?) and probably has 200 hours max play time. Like new condition inside and out. I've been asking $8000.00. The responce I got today -"I really like the piano, but it may be out of our price range--I feel that what we are paying for is the woodwork and I would be okay with a cheaper piano that played as well.
Thanks for letting us try it out. If you decide to go down on the price, let me know."
OK - it's got an art case. a beautiful case at that - but I don't think my price includes the wood work. Am I wrong?
What would be a fair price for a 2004 U5 in Ebony in the same condition?
I really need some advice here and appreciate any responce.
Yamaha S6, U5C, P120

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#1998648 - 12/12/12 11:00 PM Re: Fair Price for 2004 U5 [Re: mdsdurango]
Cy Shuster, RPT Offline
3000 Post Club Member

Registered: 12/18/05
Posts: 3458
Loc: Albuquerque, NM
Well, the equivalent now is the YUS5. Pianobuyer.com says it's now $18K in ebony (SMP), new. According to their depreciation schedule, it should be worth about 60% of that, or $10,800. So your price is in the ballpark.

The real question is whether in this economy you can get someone to buy it, much less a new upright for $18K. Right now, baby grands are more popular, and you can get them for under $5K (not Yamaha quality, but still).

The biggest market for quality uprights is in big cities with small apartments. Try listing it in New York and Chicago.

Cy Shuster, RPT
Albuquerque, New Mexico
Director, PTG Norfolk 2016 Technical Institute

#1998673 - 12/12/12 11:44 PM Re: Fair Price for 2004 U5 [Re: mdsdurango]
PianoWorksATL Online   content
3000 Post Club Member

Registered: 09/19/09
Posts: 3017
Loc: Atlanta, GA
Maybe I'm mistaken, but I don't think the depreciation is from SMP but from actual selling price. The YUS5 being a less common model but currently available discounts for Yamahas in most markets to be quite strong, let's say the selling price for a new YUS5 was 25% off SMP or $13,500. I don't think that would surprise a lot of people here.

If you use depreciation from that range, you are still at $8,100...for the plain model.

There absolutely are buyers for higher-end used. Secondly, if someone wants a black one, they won't want a fancy one even at the same price. I think the biggest challenge you face is that you are presenting a higher-end product in the same places where most people are scavenging for cheap, cheap, cheap.

It's a beautiful piano, but it can also be an imposing piano. Have you considered talking to your original dealer about a reasonable consignment arrangement where it might get the traffic necessary to be appreciated?

To your shopper, plain U5's don't grow on trees, so a "cheaper piano" would not play as well.
Sam Bennett
PianoWorks - Atlanta Piano Dealer
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