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Best Resell Value
#2884789 08/29/19 10:26 AM
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I’m a beginner looking to buy my first digital piano ($500 range). What brands hold there value best for when it comes time to sell for an upgrade?

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Re: Best Resell Value
Crocker2008 #2884796 08/29/19 10:35 AM
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I don't know of anyone who has stats about this.

But one thing is certain: a $500 piano will have nearly no resale value. Even expensive digital pianos lose most of their value in short order.

So ... buy one because you like it, not because you're thinking about selling it in the future.

Re: Best Resell Value
Crocker2008 #2884804 08/29/19 10:49 AM
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Originally Posted by Crocker2008
I’m a beginner looking to buy my first digital piano ($500 range). What brands hold there value best for when it comes time to sell for an upgrade?

Just one data point. I bought an FP30 new with stand, bench, etc, for $899 twenty months later on eBay for $501. As MacMacMac says, it's possible that if you go down to the $500 level, it will not retain value in this manner as my $900 DP.


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Re: Best Resell Value
Crocker2008 #2884811 08/29/19 11:01 AM
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I'll disagree with 3M here and say that cheap pianos tend to hold their value better than pricier ones, basically because they don't have as far to fall and there's always a limit to how cheaply you can find a new one. Basically, you can't get much of anything new (88-key hammer action) for less than $400, which is why people will still get $200-$300 for even a 10-15 year old $500 Casio Privia or Yamaha P-something, which is not a bad return for all those years of use. In absolute dollars, you'd almost certainly take a noticeably bigger hit on a $1,000+ piano. Yamaha probably holds value a bit more than Casio... better reputation overall, and a lot of comfort with the name (and maybe the "image" of a Yamaha in the living room instead of a Casio). I'd avoid off-brands, which would be harder to find a buyer for (including Williams).

Re: Best Resell Value
Crocker2008 #2884818 08/29/19 11:17 AM
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Originally Posted by Crocker2008
I’m a beginner looking to buy my first digital piano ($500 range). What brands hold there value best for when it comes time to sell for an upgrade?


For a max $500 instrument? the difference will be so insignificant that I won't even think about it. Probably less than $50 when you want to sell it (if you can sell it).

Casio Privia series, then Yamaha P series.

When it comes to digital instruments, only flagship products have relative mediocre resale values. The rest of the products are all treated the same.

Last edited by Abdol; 08/29/19 11:19 AM.

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Re: Best Resell Value
Crocker2008 #2884819 08/29/19 11:24 AM
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Brand name is very important in low price DP. Yamaha is one that I will pick over Casio or William... but then tbh, dont worry about resell value, it depend a lot in the market...etc. I sold a Arius for 300 , bought used 600 8 years ago, I believe the original price of the DP was $1200. I might able to sell it more but 8 years used , it worth the $300 . And the person who bought my Arius for 300, he got a good bargain too... it still function well, perhaps he can sell 300 after few years.

Re: Best Resell Value
Crocker2008 #2884820 08/29/19 11:25 AM
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It depends on how soon you'll upgrade.

But it's impossible to say. People vary so much that you'll never know what is a "great deal" for someone.

Let's say I buy an imaginary digital piano XYZ for $500 now.

After a year I'm completely fed up with it and want something better. I'll advertise it for $400.

Person A thinks: "Oh, great! It's still the latest model and costs a whole $100 more in the local music store. Better grab it before someone notices this magnificent opportunity of a lifetime!"

Person B thinks: "Meh. It's only $100 more in the local music store and I get a brand new device with a full warranty. I won't bother."

Person C thinks: "Yuck! An originally $500 digital piano. I'm above that and need something better! Those cheap models are useless."

Re: Best Resell Value
Crocker2008 #2884822 08/29/19 11:27 AM
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I agree with another scott. I bought new my Yamaha P45 with double braced X stand and seat for £400 all up. Sold them altogether for £275 3 months later. Only 3 months but that is the time these things lose most of their value. If I was selling now after 10 months I'm guessing it would still be about £250.

I was stupid, the first person to contact me fairly quickly offered £300 and I was hoping for £330 and I said no, such quick decent interest and I thought I'd get my asking price. The next person offered £150 and a week later offered £200 and I still held on. Then a couple of days later someone offered £250 and I had by then reduced the price to £300 on the add. I suggested £275 and deal was done.

I'll have another data point when I sell my casio that I got for £900.

I suspect £450 is the limit on that though.

I think the idea of a floor price for a weighted action that does the job minimally is correct.

Last edited by KevinM; 08/29/19 11:29 AM.
Re: Best Resell Value
Crocker2008 #2884832 08/29/19 11:42 AM
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Another +1 for anotherscott.

Cheap, popular DPs like the Yamaha P-series and Casio PX-1xx hold their value better than most other DPs.

The market for cheap DPs seems to be way larger than that for expensive, premium pianos. There are lots of people who are just trying out piano for the first time, and are looking for inexpensive instruments that don't require a lot of commitment. Much of the time, these people are in the $200-500 market, and even a basic P-45 is stretching the budget.

I frequently see used P-115s for $500-550, P-45s for $400, and PX-160s for $400. These aren't much less than new prices, and people still buy them. My first DP in a long time was a Yamaha P-105B which I bought for about $500 (including stand and triple-pedal unit). I sold it after a year for more than I bought it for.

Buy a high end DP, and your future resale customers are going to be better informed and more discerning, and you'll take a bigger haircut on the sale.


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Re: Best Resell Value
Crocker2008 #2884846 08/29/19 12:13 PM
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Also, there is not much demand for used digital pianos so this is a rather illiquid market that takes time and luck if you don't want to ship.

I think the novelty of buying used junk on ebay or gumtree or craigslist has worn off complicating matters.

You can look at ask prices on ebay and reverb for an idea. eBay has some basic tools to see actual sales prices for the past few days. Ask and close sales prices can differ significantly.

Re: Best Resell Value
Crocker2008 #2884852 08/29/19 12:23 PM
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Gombessa: You're talking about the RELATIVE value held by a low-end piano. Valid point.
My point, though, was that any fraction of $500 is next to nothing.

I would not worry whether that $500 new piano was worth $400 years later, or $300, or $1.
A fraction of nothing is nothing.
And a fraction of small is ... small.
Who cares?

Play the piano. Forget about the resale.
Or ... if resale is really important ... DO NOT BUY A PIANO! smile

Re: Best Resell Value
Crocker2008 #2884950 08/29/19 04:12 PM
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Maybe if you buy a good one, you won't need to upgrade. I bought a Roland FP7 in 2007 and I still play it. I connected it to an old iMac with Pianoteq 5 and it's like a new piano.



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