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Pianos that hold their value over time #339920
11/23/07 03:49 PM
11/23/07 03:49 PM
Joined: Oct 2007
Posts: 63
Indiana, USA
westarm Offline OP
Full Member
westarm  Offline OP
Full Member

Joined: Oct 2007
Posts: 63
Indiana, USA
since i'm in the market for a piano, i'm wondering which midrange priced pianos seem to hold their value the best for ten years or so? i know the top names do, but what about those just below...what Larry Fine would have in tier 4.

thanks.

david crothers
south bend


"The human brain can be quite wasteful." Chang, Fundamentals of Piano Practice
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Re: Pianos that hold their value over time #339921
11/23/07 06:27 PM
11/23/07 06:27 PM
Joined: May 2001
Posts: 10,953
Maryland/DC/No. VA
Steve Cohen Online content
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Steve Cohen  Online Content
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Tier 4 is the lowest tier. I wouldn't expect any of them to hold value well.

The best bet for holding value is a used (under 10 years old) piano of mid-range or better quality in a popular finish.


Piano Industry Consultant- http://www.linkedin.com/pub/steve-cohen/6/b92/b80

Consultant & Contributing Editor - Acoustic & Digital Piano Buyer

Jasons Music
Maryland/DC/No. VA
Since 1937.

www.jasonsmusic.com
My postings, unless stated otherwise, are my personal opinions, not those of my clients.
Re: Pianos that hold their value over time #339922
11/23/07 07:54 PM
11/23/07 07:54 PM
Joined: Mar 2007
Posts: 684
Louisiana, USA
swampwiz Offline
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swampwiz  Offline
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Joined: Mar 2007
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Louisiana, USA
Many folks here think that many Tier 4 pianos are really Tier 2 pianos that have not been discovered, and will realize their long term value, hence making them very good financial bets.

I would say that most pianos will depreciate about the same in actual terms (for a given size.) The expensive pianos will not depreciate much in proportionate terms, but because they are so expensive, their small level of depreciation will be about the same as the large proportionate depreciation of the cheap brands.

So then the question is if the real imputed rent cost of the piano is the same, what would be the point of renting an inferior product?

Re: Pianos that hold their value over time #339923
11/23/07 08:16 PM
11/23/07 08:16 PM
Joined: Jun 2003
Posts: 26,897
Oakland
B
BDB Offline
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If you buy a $4000 piano and in ten years, it is worth $1000, how does that compare to a $25,000 piano that is worth $10,000 in ten years? Percentagewise you may be better off with the more expensive piano, but dollarwise you are better off with the cheaper one.


Semipro Tech
Re: Pianos that hold their value over time #339924
11/23/07 10:03 PM
11/23/07 10:03 PM
Joined: Jul 2001
Posts: 15,431
Surrey, B.C.
Norbert Offline
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The only way a piano hold up its value if it has significant price increase in real terms over time.

It also of course helps to get your piano free when you buy it.... laugh

IMHO it has much less to do with "tiers" - a good example here being Estonia which was in a fairly low tier only several years ago.

It has all to do with mobility up or down from there...

Similiar to stocks, some stay, some go up, some will go down.

Picking a great piano as an instrument which also happens to be a *winner* in this regard, is not as easy or evident as some assume here.

This is especially true for those dealers who are forced to be perhaps less flexible, having huge committments to certain, admittedly perhaps more established brands out there.

Those who believe an *established brand* will bring automatically better results, meaning getting a price anywhere near when new, should join the business and perhaps try to sell some of those, especially these days at rapidly a'changing times out there.... shocked

But now I better stop writing before I get beat up.....

Norbert wink


www.heritagepianos.com
Greater Vancouver B.C. piano dealers for : Estonia, Brodmann, Ritmuller
604-951-8642
Re: Pianos that hold their value over time #339925
11/24/07 07:50 AM
11/24/07 07:50 AM
Joined: Oct 2007
Posts: 63
Indiana, USA
westarm Offline OP
Full Member
westarm  Offline OP
Full Member

Joined: Oct 2007
Posts: 63
Indiana, USA
thanks for the responses. i think i got my tiers mixed up, since i was using an older Fine book (98-99 edition) and checking out the pianos in the same group as Charles Walter.

a good used piano seems more and more like a smart idea to me. i'll keep looking.

david


"The human brain can be quite wasteful." Chang, Fundamentals of Piano Practice
Re: Pianos that hold their value over time #339926
11/24/07 05:16 PM
11/24/07 05:16 PM
Joined: Nov 2006
Posts: 2,604
Marty Flinn Offline
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Marty Flinn  Offline
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Axiom #1 All pianos tend to rise in value over time after the first 4-6 years.
Axiom #2 All pianos tend to rise in value at the same % rate.
With these requirements:
1. Kept in good condition and serviced regularly.
2. Sold to a private party.
3. Acquisition price was not way above market.
4. Piano was not some goofy, off the beam, furniture style or color.
A 6' Yamaha, Kawai, S&S, M&H, Knabe will all rise at the same % rate in value. Higher profile brand names will be quicker and easier to sell.


Co-Author of The Complete Idiot's Guide To Buying A Piano. A "must read" before you shop.
Work for west coast dealer for Yamaha, Schimmel, Bosendorfer, Wm. Knabe.
Re: Pianos that hold their value over time #339927
11/24/07 07:56 PM
11/24/07 07:56 PM
Joined: Mar 2004
Posts: 1,326
S
Sir Lurksalot Offline
1000 Post Club Member
Sir Lurksalot  Offline
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S

Joined: Mar 2004
Posts: 1,326
Marty,

Assuming that your axioms and requirements are true, it's also important to note that all pianos decrease in value over the first 4-6 years. Given David's original question regarding the value of a ten-year-old piano, do you think that the brands you listed would increase or decrease in value after ten years?

Just curious - what was the price of a Yamaha C3 in 1997, and what would a well-maintained 1997 C3 sell for today?

Re: Pianos that hold their value over time #339928
11/24/07 10:01 PM
11/24/07 10:01 PM
Joined: Mar 2007
Posts: 684
Louisiana, USA
swampwiz Offline
500 Post Club Member
swampwiz  Offline
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Joined: Mar 2007
Posts: 684
Louisiana, USA
Quote
Originally posted by BDB:
If you buy a $4000 piano and in ten years, it is worth $1000, how does that compare to a $25,000 piano that is worth $10,000 in ten years? Percentagewise you may be better off with the more expensive piano, but dollarwise you are better off with the cheaper one.
BBD, I have never known a situation in which a piano sold for $25K, but then would only sell for $10K. (Of course, a customer could purchase a piano at more than bare markup, in which case money would be thrown down the tubes.) That $25K piano would probably sell for $37K brand new 10 years in the future, making the 10 year old piano have a value of $25K, not $10K.

Re: Pianos that hold their value over time #339929
11/24/07 10:47 PM
11/24/07 10:47 PM
Joined: Jul 2001
Posts: 15,431
Surrey, B.C.
Norbert Offline
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Norbert  Offline
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Posts: 15,431
Surrey, B.C.
Quote
Just curious - what was the price of a Yamaha C3 in 1997, and what would a well-maintained 1997 C3 sell for today?
Good question.

A better or more *up-to-date* question would be: "What is the price of a Yamaha C3 in 2007 and what will it sell for in 2017?

Now this is, of course, the 1 million $ question.....

Norbert :rolleyes:


www.heritagepianos.com
Greater Vancouver B.C. piano dealers for : Estonia, Brodmann, Ritmuller
604-951-8642

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