Welcome to the Piano World Piano Forums
Over 2 million posts about pianos, digital pianos, and all types of keyboard instruments
Join the World's Largest Community of Piano Lovers (it's free)
It's Fun to Play the Piano ... Please Pass It On!

SEARCH
the Forums & Piano World

This custom search works much better than the built in one and allows searching older posts.
(ad) Pianoteq
Latest Pianoteq add-on instrument: U4 upright piano
(ad) Pearl River
Pearl River Pianos
(ad) P B Guide
Acoustic & Digital Piano Guide
PianoSupplies.com (150)
Piano Accessories Music Related Gifts Piano Tuning Equipment Piano Moving Equipment
We now offer Gift Certificates in our online store!
(ad) Estonia Piano
Estonia Piano
Quick Links to Useful Stuff
Our Classified Ads
Find Piano Professionals-

*Piano Dealers - Piano Stores
*Piano Tuners
*Piano Teachers
*Piano Movers
*Piano Restorations
*Piano Manufacturers
*Organs

Quick Links:
*Advertise On Piano World
*Free Piano Newsletter
*Online Piano Recitals
*Piano Recitals Index
*Piano Accessories
* Buying a Piano
*Buying A Acoustic Piano
*Buying a Digital Piano
*Pianos for Sale
*Sell Your Piano
*How Old is My Piano?
*Piano Books
*Piano Art, Pictures, & Posters
*Directory/Site Map
*Contest
*Links
*Virtual Piano
*Music Word Search
*Piano Screen Saver
*Piano Videos
*Virtual Piano Chords
Topic Options
#2070658 - 04/25/13 01:00 PM appraisals
mosspianotuning Offline
Full Member

Registered: 08/11/10
Posts: 23
Recently I was asked to appraise a 1978 Mason and Hamlin A. I have 2 questions about this and could use some advice about appraising in general.

1. Is there a such thing as certified appraisals? I wonder how liable I would be with the value I determine for the piano as it relates to insurance purposes. If I give a number for the pianos value to the insurance company am I held legally liable for anything? As you all know it is difficult to give a dollar value on a piano and I find it more difficult on higher end pianos which brings me to question number 2

2. Other than searching the web for similar models that are being sold, are there any other things I am missing and should do when giving an estimate on value? I always inspect the piano and figure that into my estimation, but there seems to be so little to go off of in the world of pricing used pianos. I usually end up giving a range withing a couple thousand dollars, but even then I am not always confident with my estimate. Any advice on how to improve my accuracy with appraisals would be really appreciated. Thanks everybody.

Top
(ad 568) Win a Year Journal Subscription
Win a year subscription to the PTG Journal
#2070667 - 04/25/13 01:13 PM Re: appraisals [Re: mosspianotuning]
BDB Offline
Yikes! 10000 Post Club Member

Registered: 06/07/03
Posts: 20766
Loc: Oakland
Yes, there are certified appraisers, defined by IRS regulations. You may not qualify to do appraisals for some purposes. I would suggest contacting an auction house to see if they have a certified appraiser that you could discuss it with.
_________________________
Semipro Tech

Top
#2071452 - 04/26/13 11:39 AM Re: appraisals [Re: mosspianotuning]
mosspianotuning Offline
Full Member

Registered: 08/11/10
Posts: 23
Well, the insurance company in this particular case was fine with my appraisal on letterhead. I believe that there is not too much of a difference when it comes to the premium for insuring a piano that is 10,000 or 20,000. I gave the best estimate I could from similar models. Also I thought about replacement value vs repair/restoration value (which I think could easily end up costing more than replacement). If anyone has any more thoughts I'd love to hear them

Top
#2071554 - 04/26/13 01:49 PM Re: appraisals [Re: mosspianotuning]
Withindale Offline
1000 Post Club Member

Registered: 02/09/11
Posts: 1797
Loc: Suffolk, England
The process you describe is much the same as valuing anything in a relatively limited market.

Three years ago someone drove into my car and wrote it off. It wasn't a common model. When it came to assessing its value the insurance company went to the Autotrader website, the largest over here. We then had an interesting discussion about how comparable mine had been to the three on offer.

Do you keep notes on how you arrive at each valuation?
_________________________
Ian Russell
Schiedmayer & Soehne, 1925 Model 14, 55" upright
Ibach, 1922 49" upright (project piano)

Top
#2072034 - 04/27/13 10:04 AM Re: appraisals [Re: mosspianotuning]
Nash. Piano Rescue Offline
Full Member

Registered: 12/08/09
Posts: 380
Loc: East Nashville,TN Scottsville...
Some insurance companies would rather replace completely rather than pay to have something restored or repaired. I guess it depends on what type of home-owners policy they have.

A couple years ago we went to take a look at a very basic late 1960s Baldwin 243 Studio that was directly under a water heater disaster upstairs. They wanted an estimate for repair and refinishing basically.

When we went back to the house to pick up the piano for the job there was a brand new Yamaha U 3 sitting there. The homeowners told me the insurance company just cut them a check for a brand new piano.

Wow !! What a deal losing a 1200 dollar used baldwin and getting a 7500 dollar brand new piano ? I'd take that deal too !!
_________________________
J. Christie
Nashville Piano Rescue
www.NashvillePianoRescue.com
East Nashville
Bowling Green, KY
Scottsville KY.
Chamber of Commerce
Member/Sponsor

Putting inspiration in the hands of area musicians
Through restoration/renovation

Top

Moderator:  Piano World 
What's Hot!!
HOW TO POST PICTURES on the Piano Forums
-------------------
Sharing is Caring!
About the Buttons
-------------------
Forums Rules & Help
-------------------
ADVERTISE
on Piano World

The world's most popular piano web site.
-------------------
PIANO BOOKS
Interesting books about the piano, pianists, piano history, biographies, memoirs and more!
(125ad) Dampp Chaser
Dampp Chaser Piano Life Saver
Sheet Music
(PW is an affiliate)
Sheet Music Plus Featured Sale
Download & Print Sheet Music Instantly
sheet music search
sheet music search

sheet music search
(ad) HAILUN Pianos
Hailun Pianos - Click for More
(ad) Lindeblad Piano
Lindeblad Piano Restoration
Who's Online
121 registered (accordeur, ando, 43 invisible), 1361 Guests and 51 Spiders online.
Key: Admin, Global Mod, Mod
Forum Stats
74256 Members
42 Forums
153602 Topics
2251223 Posts

Max Online: 15252 @ 03/21/10 11:39 PM
New Topics - Multiple Forums
Action regulating
by pater57
04/20/14 08:59 AM
Kurzweil SP5-8 as main studio keyboard/stage piano
by Barty
04/20/14 08:33 AM
Greg Pauley in Concert June 1st, Sunday 3:30pm
by Larry Buck
04/20/14 07:58 AM
Happy Easter!
by Marko in Boston
04/20/14 06:58 AM
Easter Themed Recordings - Kawai CA95
by wolferblade
04/20/14 04:55 AM
(ads by Google)

Visit our online store for gifts for music lovers

 
Our Piano Related Classified Ads
| Dealers | Tuners | Lessons | Movers | Restorations | Pianos For Sale | Sell Your Piano |

Advertise on Piano World
| Subscribe | Piano World | PianoSupplies.com | Advertise on Piano World | Donate | Link to Us | Classifieds |
| |Contact | Privacy | Legal | About Us | Site Map | Free Newsletter | Press Room |


copyright 1997 - 2014 Piano World ® all rights reserved
No part of this site may be reproduced without prior written permission