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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.
Mike

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--

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.