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Newbie here. I just found this site as I am trying to determine how much my piano is worth. Apologies if I am posting to the wrong forum.

I have a 2006 Mason & Hamlin with PianoDisc player. I recently sold my house and won't have room for this gorgeous piano. I would like to sell it on consignment but I am having a difficult time determining a fair value for the piano. Does $15K (half of what I paid) sound right?

I also would appreciate any suggestions on a reputable company to place for consignment.

Thank you,
Andie

MasonHam,

We'll need some more information about your piano, such as:

- Model (most important)
- Condition
- How well the piano is maintained

Then we can make a wild guess about its value .

As for a consignment, if you tell us where you live, someone from that area might be able to give some suggestions. Be aware that consignment will take about 30-50% off the sale price, so you'll take a big hit going that way.

Sorry you have to sell your piano. Mason & Hamlins tend to be very nice pianos. Are you going to get something smaller? The thought of having to sell my piano gives me panic attacks.

Good luck!

Steve

Well, there are many people on this forum looking for a high quality instrument at a sensible price, isn't there a place here you can advertise your piano for sale? I'm sure you'll find a buyer from the pianoworld fraternity!

Hi Andie - Welcome to Piano World!

You own a very desirable piano and I'm sure you will be able to find a good home for it. There are many ways to market a piano, and consignment is only one of them. Often, this is the choice when you need to move the piano out of your home rather quickly.

Your location is a very important factor. The market in your area may be very different than in other locals. We might be able to give more specific advice if you provided that information.

When selling a very fine piano, such as yours, you might want to contact a piano technician who is experienced in providing appraisals in your market. Here is a link which might be helpful for you:

www.ptg.org

Your own tuner/technician would also be a good contact. Also, if you know any piano teachers in your area, you might contact one and it will get your piano on the 'grape vine.' Word of mouth on private sales can often do wonders.

I believe that your are underestimating the value of the instrument you own.

Please give us more info and good luck with your sale.

I'd say that, based on what you have told us already about this piano, and assuming it has been well cared for in the last 7 years, $15,000.00 would be a very fair price in ANY locale or market, especially if you were to sell it yourself, using either ebay or Craigslist.

The MSRP of a new AA is over $70K. The OP bought his/her piano for $30K in 2006. Probably could have easily paid $35 to $40K back then. I'm guessing a reasonable starting point would be in the high 20's (if not $30K) assuming the piano is in excellent condition and has been consistently maintained. To sell for $15K would be practically giving the instrument away.

I agree with everything except that the MSRP at any point in time is not really relevant. The present SMP is of some relevance.

I also think it's reasonable to assume the piano is in good condition unless it has been abused. If the piano was just reasonably prepped by the dealer, not played 6 hours/ day, not exposed to unduly harsh environmental conditions, and tuned at least once/year, a seven year old piano would generally be in good condition. I would use the Fine depreciation schedule together with price comparisons from local markets and PianoMart as a guideline.

With current SMP of around 59K, with a 30% disocunt this gives a current selling price(without player)of around 40K. That would give a value of around 2/3 x 40K= 26K, interpolating from the Fine depreciation table. All this without including the value of the player system.

Since the Fine tables do not and cannot possibly include things like economic condition at the time of first or second sale or local market conditions, all of these have to be factored in somehow. But unless local prices for similar used pianos are as low as 15K, I would start out by pricing the piano considerably higher than that amount. I think the OP got an extremely good price on his original purchase but he doesn't have to factor that into his present asking price.

However, the current MSRP is only a reference. There is no reason to rely on the very general "rules" as stated by Fine. The consideration for the owner is the comparison from what he/she paid. At that time, the buyer received a very good price. If $30,000 is accurate, that is an exceptional cost for a Mason AA with the added attraction of the player system.

The most accurate way to determine its current market value is to have it inspected and appraised for sale in that particular locale.

Normal consignment rates in my area are 60/40 . 40 going to the consignment store which should include pick up. I would say they will ask you for a target figure you can live with then mark the piano up so that you might still get your targeted price ( what your 60 percent is).

You will need proof of ownership and some other documents. I would choose a geographical area where pianos are selling fast over the it might sell in a year places.

Couldn't you squeeze it in?

The current SMP is a reference. The current MSRP irrelevant.

Neither matters at all!

The most accurate way to determine its current market value is to have it inspected and appraised for sale in that particular locale.

I suggest you take up your argument with Larry Fine. The idea that the table he has included in the Piano Buyer and Piano Book for many years is useless seems hard to believe. Fine is far too careful about what he writes. Numerous posters have suggested using this table as a reference.

In addition, the idea of relying on a tech's appraisal(which I myself suggested) poses problems for a piano like a M&H AA because a tech will probably not have seen many(or even any) of these for sale in a given locale.

The difference between the MSRP and SMP is significant both for a new and used pianos. The MSRP is irrelevant for both but that is not the case for the SMP. I suggest reread my last post in an earlier thread where I went to great lengths to explain your misconceptions about the SMP. In that thread it was clear that you hadn't even read Fine's explanation of SMP or had misunderstood it. My last comment to you on this thread.

I realize that the MSRP is not as relevant as the SMP - and I'm aware of the 30% guidelines, which is why I said the OP could have easily paid $35-$40K for the instrument - and thus got a great deal at $30K. I chose not to get into all that - assuming that someone else here would - and you didn't disappoint me !!

The amount the OP originally paid for the piano should not dictate what it is offered for now. I agree that the best way to determine market value is to have it inspected and appraised - but PL makes a good point about that as well.

It sounds like the OP needs to unload the piano immediately - so rather than giving it away, consignment may be the way to go.

Too bad it won't fit in the new place........

Hurray! - We're free of PLU!

Pacific Lutheran University??

Well, he certainly does get preachy and dogmatic with his views.

Dear Andie,

I suggest you reconsider your decision to move to this new place, which has no room for your piano. Seriously. It is not the only new place in the world.

Your piano tech, or the dealer from whom you bought the piano, might be able to advise you about its current resale value in your local market.

I would think twice about moving without your nice piano. It is not a decision on which you will look back with a good feeling. Forgive my suggesting it a second time; I mean it for your own good.

+1

...except that I'm assuming you've already committed to the new place. When people say that a piano won't fit, I think it might mean that it won't be as aesthetically pleasing as it is in its current location. I've got a 7' piano in my tiny place, but it works out just fine.

Also, maybe this poster isn't interested in playing anymore, and if that's the case, then the money s/he gets from the sale could be better used than sitting in a living room.

Steve,

Model AA

Condition: No one plays it but PianoDisc. I took piano lessons as a child but never kept it. Through the years though, I have always treasured the sound and have been envious of those who know how to play.

The piano has only been tuned once since it was purchased in 2006.

I am located in the suburbs of Atlanta, GA.