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Joined: Jan 2010
Posts: 12
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DRLew Offline OP
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Joined: Jan 2010
Posts: 12
I have read the threads on the 1098 and posted a follow up question at the bottom of the most relevant one. Please excuse me if another new and similar post violates forum protocol but I'm not sure if my question will be seen on a six month old thread (perhaps someone can tell me how this works?). Prior to inspection, how can I determine fair market/purchase value for a 20 year old, third owner, good condition 1098? Due to the economic climate and location, Seattle, there are few sales of high quality used uprights I can find to use as a gauge. Dealers are not going to tell me what they would buy the piano for and I'm not comfortable with Larry Fine's analysis as it applies here. Any and all suggestions are appreciated to help me arrive at a fair price range.

Thank you,

Lew

Joined: Jan 2009
Posts: 422
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Their are really two numbers of importance: Retail value (Private selling) and Wholesale value (price you liquidate the piano to a dealer).

A brand new 1098 lists for $22,300 according to NYC price list. The million dollar question is: if one could buy a brand new one for $22,300 what would someone pay for a 20 year old one.

If we had your piano at our store we would probably price it around 10k (assuming its in good shape). This price would include delivery, tuning, bench, and a 5 year warranty plus the piece of mind gained by buying from a dealer as opposed to a private seller (another words, dealers just get more than private sellers).

All markets are different so hopefully this will at least give you a frame of reference.

Regardless, wholesaling your piano would be your last option. Hope this helps..





Musically Yours,
Jonathan Hunt

Sales Professional:
Steinway, Boston, Essex, Kohler & Campbell

The Music Gallery
Clearwater, Fl.

Moderated by  Ken Knapp, Piano World 

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