This is not to start an argument with the pros here. It is a difference of opinions from a consumer point of view.
To really analyze whether something is of "investment" value, there are many factors to consider.
Speaking only for myself, I won't buy a standard (w/o historical value) piano for "investment value" because its "appreciation" rate is unpredictable, unknown and cannot be analyzed. Using stock market as an example, one can research a corporation's product strategy, roadmap, executive team, and products. One can look at dividends, if any, quarterly revenue, profits and do meaningful modeling to understand the various potential scenarios moving forward. One can even do technical analysis of the market and get a handle on trends and act accordingly if necessary. None of that is possible with a piano purchase.
A $10 dollar investment in Apple stock in September 2003, nets $399 today and after-tax return of $409. It can be managed on a quarterly basis, and the value in the stock can be turned into cash by a simple trade on-line. When we add dividends and splits, the intrinsic values are tangible; both in gains and in loss. Most importantly, one can decide when to sell and when to hold
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A piano is not a manageable "investment" vehicle because its liquidity is difficult (time consuming) to realize and not conducive to active and prudent management. The maintenance cost (incl. energy cost) too is hard to generalize due to life and regional variations.
Piano makers can certainly make the "investment value" claim as part of their marketing and sales strategies; just like high-tech companies all like to call their products "amazing"
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For my family, the real "investment" is in hearing beautiful live music inside our home and watching our kids enjoy themselves while acquiring precious music-making skills. That "gain" is not measurable in terms of "monetary" value.
Peace and Cheers!
