Piano Value 2

Posted on March 18, 2017 by Frank Baxter — No Comments ↓

Helping You Determine the Value of A Piano – Continued

Page 2

Please note, this article was written back in 2009. While the main points are still valid some of the prices will have changed.

Pre-1930 Pianos Worth Restoring?

A good piano in poor condition is still a poor piano. Conversely, a medium-grade piano in good condition may be the better investment.

The following is a list of piano manufacturers that made highly regarded pianos pre-1930. The reason 1930 is the cut-off point is that during the Great Depression many piano makers, both good and bad, went bankrupt, and their names were bought up by the surviving companies.
In some cases, the defunct company’s design continued to be used, but most of the time, only the name lived on.

This list is from “The Piano Book” by Larry Fine. As Mr. Fine states, this list is not complete , or universally agreed upon, but is merely a guide.

Steinway
Knabe
Bösendorfer
Ivers & Pond
Steinert
Emerson
Apollo
Weber
Krakauer
Everett
Ibach

Baldwin
Chickering
Blüthner
Henry F. Miller
Jewett
Vose
A.B. Chase
Wing
Hallet & Davis
Hamilton
Heintzman

Mason & Hamlin
Bechstein
Sohmer
McPhail
Hume
Chas. Stieff
Packard
Haines Bros.
Lester
Kimball

Piano Values

Please note that it is nearly impossible to determine the value of a piano without seeing it. The values below are for reference only. Your local piano tuner-technician is still your best resource!
Description	Low Range	Average Range	High Range
Upright, pre-1930, average worn condition	$ 0 – 100	$ 200 – 400	$ 500 – 800
Upright, pre-1930, better condition (has received minor repair, cleaning,etc.)	$75-300	$300-600	$750-1,000
Upright, pre-1930, very good condition has received major reconditioning)	$100-500	$650-1,050	$1,000-1800
Studio, 1930-1950, fair condition	$100-450	$450-800	1,000-1,500
Studio, 1950-1970, good condition	$300-500	$600-1,200	$1,200-1800
Studio, 1950-1970, very good condition	$500-1,000	$900-1,450	$1,500-2200
Console or spinet, 1930-1950, fair condition	$100-400	$400-600	$700-900
Console or spinet, 1950-1970, good condition	$200-500	$500-900	$800-1,200
Console or spinet, 1950-1970, very good condition	$500-800	$750-1,300	$1,100-1,600
Grand, pre-1930 average brand, average worn condition, 5’+	$200-500	$650-1,300	$1,200-3,000
Grand, pre-1930 average brand, average worn condition, 6′	$300-500	$900-1,800	$2,500-4,000
Grand, pre-1930, better brand, (e.g. Knabe or Chickering),well maintained, 5’+	$600-1,400	$1,300-2,100	$3,000-3,500
Grand, pre-1930, better brand, (e.g. Knabe or Chickering),well maintained, 6′	$800-1,500	$1,650-2,700	$3,500-4,500
Grand, 1930-1950, better brand, good condition, 5′	$800-1,500	$1,800-2,900	$4,000-5,000
Grand, 1930-1950, better brand, good condition, 6′	$800-1,500	$2,250-3,550	$5,000-6,000
Grand, 1950-1970, mediocre brand, (e.g. Aeolian), good condition, 5′	$700-1,100	$1,200-2,100	$2,000-3,000
Grand, 1950-1970, mediocre brand, (e.g. Aeolian), good condition, 6′	$800-1,200	$1,500-2,500	$2,000-3,000
Grand, 1950-1970, better brand, very good condition, 5′	$1,000-1,800	$2,200-3,450	$4,000-6,000
Grand, 1950-1970, better brand, very good condition,	$1,000-1,800	$2,900-4,500	$5000-7000
Note: Add 10 to 30 percent (sometimes up to 50 percent) for an “equivalent” piano from a technician instead of a private owner. Steinway pianos usually sell for one-and-a-half to three times (sometimes as much as four) the above prices.

Piano Depreciation:

Another method of determining the value of a piano is called
the “depreciation” method. This method is especially useful for appraising pianos of recent make when the models are still in production. To use it, one needs to find out how much a new piano of the same or comparable make and model would cost now, and then look up the age of the subject piano on a depreciation schedule.The percentage given represents what the piano is worth relative to the cost of a new one. There is no universally agreed-upon depreciation schedule for pianos, but one such schedule is provided below. This method works fairly well for pianos of average quality which have had a normal amount of wear. For better quality pianos, or pianos that have had either very little or far too much use, the values produced this way must be adjusted accordingly.

Depreciation Schedule for Pianos
Age in Years	Percent of New Value	Age in Years	Percent of New Value
1	85	20	43
2	82	25	34
3	80	Verticals only:
5	74	30	27
8	67	35 to 70	20
10	62	Grands only:
15	52	30 to 70	30
Depreciation schedule courtesy of Stephen H. Brady, RPT, Seattle, Washington. Reprinted from – The Piano Book by Larry Fine.