Piano World Home Page Forums Our Most Popular Forums Pianist Corner Steinway is bought out... we now play a Kholberg

I think the keyword there is "should". Investment firms make money. And they often do so at the expense of the brand/company they buy. They will gut it, move it, cease operations, do whatever they have to do in order to make money.


Marketing.. especially in the US market.


Why? If they decide they can make the most money by gutting it, restructuring it, and/or repackaging the brand to sell it in foreign markets (like China), why would they care about anything else? Investment firms buy businesses in order to increase the value of the investment firm.. NOT necessarily the businesses they're buying.


True, but you're confusing the Steinway Co. with the investment firm buying them.

Sadly, Derulux is correct. The piano's ability to "be dark and bright at the same time" is not at the top of Kohlberg's list of priorities. It boils down to: (Unit Price X Volume) - Costs. The fact that Steinways are the preferred choice of pianists throughout the world means nothing. If they could make more money producing 1000 pianos/year at a high price vs. 100,000 at a lower price, have no fear, they'd do it.

Boesendorfer and Yamaha may be licking their chops.

I keeeeeeeel you!!!

Anyone as pretty as pogo deserves the best.

Oh well, a Steinway has been on my Christmas list since I was a young lad, and when I broached the subject with my mum, let us just say it didn't go over very well.

Some people -mothers in particular- do not have a sense of humour. It was a pain in the arse just getting her to buy me the Tovey edition of the Beethoven sonatas. One would think I was asking for a rare early edition of Omar Khayyám's writings.

Be patient. I waited 45 years for mine and had to take out a second mortgage to do it. It was, of course, worth the wait and the huge monthly payment.

Marketing savvy also has something to do with it. And not all Steinway pianos are good.

I often wonder if people had similar access to Fazioli, Shigeru Kawai, Petrof, Bosendorfer, etc..., would they still prefer Steinway? In probably 98% of the halls, schools, and showrooms I've played in, Steinway was the only available high-end piano to try. To my knowledge, in my entire state, there are only two non-Steinway concert instruments in use. Drake University has a new Yamaha CFX, and Central College has a Fazioli. Both are amazing instruments.

The Boosie Imperial 97-key piano at my school isn't as good as the Steinways at my school, but that could just as easily be the technician (or the piano faculty's preferences that they tell the technician).

I got mine two years ago, having saved up for 25 years. Man, is it beautiful.

John

Grotrian Steinweg
(built in Germany)

Does anybody want to buy my 1912 Grotrian Steinweg upright? ... in top condition.

Offers above $2 million will be favourably considered.
“Who wants to be a millionaire ... I do”
(thank you Mr Sinatra ... from the movie High Society)

Yet another Chinese complot in the ointment ...
but then, there are such a lot of the dratted blighters.

Upon 2nd thoughts ... the price just went up to $3 million.
(I need the dough)

Kind regards, btb

PS The Kohlberg name sounds like a frosty mountain.

Sounds like a high bar release in men's gymnastics to me.

-Daniel

I wonder if this will have any impact on Arkivmusic, which is owned by Steinway.

Guessing it will depend a lot on the financial stability of that business segment. They're basically buying a 150 year-old house that they think they can remodel, otherwise touch-up, repackage, and make a good profit off of it. What needs replacing will get replaced. What still looks good may stay. They might also gut the whole thing and rebuild it from the ground up.

But one basic rule of thumb: any noticeable nail sticking up will either get pounded down, or ripped out and (maybe) replaced.

And one basic "axiom" of buyouts: nobody buys a business to leave it exactly as it is. Because if it's working, and working well, the owner won't sell for a good enough price to make the purchase attractive.

Here's a pretty good article on the current deal:
http://www.bloomberg.com/news/2013-07-01/steinway-to-be-bought-by-kohlberg-for-438-million.html

One thing that really irks me, though:
I'm still amazed that people think the economy is recovering -- and Bloomberg writers, no less! The stock market has recovered (and started a new bubble), but with still-high unemployment, declining wages, exponentially rising food and energy costs, artificially low interest rates, and an ever-growing divide between the upper- and middle- classes (particularly in the US, for foreign readers), I don't see how anyone can think this will end well... our "Economy Train" is still heading for that massive cliff we almost went off in 2008. All we did was build a bridge out over the precipice, but there is no "other side". When we run out of building materials, we will go off the end of the bridge.

WOW:

http://www.artsjournal.com/slippeddisc/2013/07/clang-steinway-hall-is-sold.html

WOW indeed...

I'm speechless!

The reason Steinways are so popular is largely due to marketing. The business could stand to change in my opinion, as could the pianos.

I would like to see a greater variety of pianos on concert stages. The finest piano I've ever played on was a Shigeru Kawai but it seems almost nobody has heard of them.

Unfortunately, I couldn't afford that one either.

Well then, she wouldn't want a "hot" piano. =p
Of course, I would buy her one could I afford to do so and she knows this. She's gorgeous, but my reasons are not so much about her looks.

I read today that Steinway Hall will become a condo tower. Brilliant, eh?

That is just SO depressing!

Hi Deru,

" ...I don't see how anyone can think this will end well..."

No, it can't possibly, and Steinway and its like may be the first casualty.

Please post this on the thread in the "piano" forum, if you would.