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#2029024 - 02/07/13 10:56 PM Re: Why do private sellers price so high? [Re: pianoloverus]  
Joined: Jun 2009
Posts: 1,607
4evrBeginR Offline
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4evrBeginR  Offline
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Joined: Jun 2009
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California
I don't really know all the details either as I wasn't shopping at that price range, the sales person didn't really go into it. He simply ask me to play it just because he had it. It was awesome. I think it was a 225. All I know is that it was sold to the family, and once sold, the warranty is normally not transferrable. In this case, the dealer arranged with the factory to re-apply the warranty to the next owner. The family that didn't like the 225 bought something else, a 290? It's one of those unlimited resource families used to being able to return anything was my impression. I think the dealer was fine financially, but was being completely honest with the history of the piano.

What I was trying to illustrate was here is a perfectly good piano. I tried it, and it was awesome, not a scratch on the body or anything else, but it had sat in someone's home for a couple of weeks, and is no longer brand new. The factory is putting their full warranty behind it, yet, it still suffer from depreciation even though it, for what I could tell, has 100% of its life remaining. It's all perception.


Art is never finished, only abandoned. - da Vinci
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#2029079 - 02/08/13 01:16 AM Re: Why do private sellers price so high? [Re: PianoWorksATL]  
Joined: Jun 2009
Posts: 1,607
4evrBeginR Offline
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4evrBeginR  Offline
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Joined: Jun 2009
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California
Originally Posted by PianoWorksATL
However, unlike cars, a piano doesn't continually depreciate every year to nothing. After a couple of years, the price levels off, and the value during that plateau depreciates very little. In many instances, it will increase in dollar value (due to inflation) because the cost is mostly related to the cost difference from new.


That's true. It does take a piano many more years to depreciate to zero. For Steinways, they seem to be always worth something no matter how old.


Art is never finished, only abandoned. - da Vinci
#2029238 - 02/08/13 11:42 AM Re: Why do private sellers price so high? [Re: Rickster]  
Joined: May 2011
Posts: 67
hmrnmky Offline
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hmrnmky  Offline
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San Diego, CA
I saw on CL the same Baldwin grand for sale for months at $10K, no size, model or condition mentioned in the ad. The ad finally disappeared to shortly re-appear with the same lack of information but now worth $15K. Seemed odd to me that if no one is interested at $10K why the seller suddenly thinks it is now worth $15K.


2011 Yamaha GC2
#2029250 - 02/08/13 12:20 PM Re: Why do private sellers price so high? [Re: 4evrBeginR]  
Joined: May 2001
Posts: 22,248
pianoloverus Online content
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pianoloverus  Online Content
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Originally Posted by 4evrBeginR
I don't really know all the details either as I wasn't shopping at that price range, the sales person didn't really go into it. He simply ask me to play it just because he had it. It was awesome. I think it was a 225. All I know is that it was sold to the family, and once sold, the warranty is normally not transferrable. In this case, the dealer arranged with the factory to re-apply the warranty to the next owner. The family that didn't like the 225 bought something else, a 290? It's one of those unlimited resource families used to being able to return anything was my impression. I think the dealer was fine financially, but was being completely honest with the history of the piano.

What I was trying to illustrate was here is a perfectly good piano. I tried it, and it was awesome, not a scratch on the body or anything else, but it had sat in someone's home for a couple of weeks, and is no longer brand new. The factory is putting their full warranty behind it, yet, it still suffer from depreciation even though it, for what I could tell, has 100% of its life remaining. It's all perception.
I don"t think pianos drop 30% in value after two weeks.

My guess is that the dealer might have hoped you'd be interested in such a "good deal" and created a little story. Or perhaps if the people who had this piano in their home bought the piano and then traded it in for a larger one, the dealer got such a good price on the larger one he was able to offer the piano you played at a very good price.

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#2029252 - 02/08/13 12:24 PM Re: Why do private sellers price so high? [Re: concertina]  
Joined: Mar 2006
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Rickster Online content
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Rickster  Online Content
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Georgia, USA
Originally Posted by hmrnmky
I saw on CL the same Baldwin grand for sale for months at $10K, no size, model or condition mentioned in the ad. The ad finally disappeared to shortly re-appear with the same lack of information but now worth $15K. Seemed odd to me that if no one is interested at $10K why the seller suddenly thinks it is now worth $15K.

I've seen this before too, particularly with dealers posing as private sellers...

I suppose the seller is more or less trying a different strategy rather than lowering the price; who knows, it may work sometimes. smile

Typically, the price is lowered rather than raised over time, unless a used piano dealer buys the piano and re-advertises it to make a profit. I’ve seen this happen before too, using the same photo of the original private seller.

I'm glad I'm not in the market to buy a pre-owned piano (unless a bargain comes along... smile )

Rick


Piano enthusiast and amateur musician: "Treat others the way you would like to be treated". Yamaha C7. YouTube Channel
#2029267 - 02/08/13 12:49 PM Re: Why do private sellers price so high? [Re: concertina]  
Joined: Mar 2012
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Sand Tiger Offline
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Sand Tiger  Offline
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Posts: 1,356
Southern California
No one mentioned the process and how markets work. Let's make a hypothetical where there are four pianos listed for sale each month. For simplicity, let us say two pianos are priced low, and two are priced high. The two that are priced low will sell quickly. The high priced ones sit.

After a year of this kind of market with no listing fees, there are 24 high priced pianos listed for sale (12 months worth) and two low priced pianos (the new ones for that month). A person new to shopping may conclude that 92% of sellers price way too high, even though in this hypothetical only 50% do so.

Real world markets are more complicated than this, but the example shows why so many highly priced pianos are listed for sale.

#2029306 - 02/08/13 02:20 PM Re: Why do private sellers price so high? [Re: concertina]  
Joined: Feb 2013
Posts: 50
fishbulb Offline
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fishbulb  Offline
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^ exactly what Sand Tiger said.

Same thing happens with anything on Craigslist - cars, cameras, furniture, whatever.

#2029582 - 02/09/13 12:45 AM Re: Why do private sellers price so high? [Re: concertina]  
Joined: Mar 2010
Posts: 306
J_D Offline
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J_D  Offline
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Texas, USA
I think some owners are under the impression the harp is made from solid gold.


J.D.
Hailun 178
#2029791 - 02/09/13 11:03 AM Re: Why do private sellers price so high? [Re: concertina]  
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Minnesota Marty Offline

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Minnesota Marty  Offline

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Joined: May 2012
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Rochester MN
Those would be the Lyon & Healy "Celestial."


Marty in Minnesota

It's much easier to bash a Steinway than it is to play one.
#2030430 - 02/10/13 12:54 PM Re: Why do private sellers price so high? [Re: concertina]  
Joined: Jan 2013
Posts: 15
flipwils11 Offline
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flipwils11  Offline
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Posts: 15
It's good to read this thread as it helps to hear other perspective that I'm not crazy as I navigate the used piano marketplace. Determining reference prices for used pianos is very tough and I'll be honest, in almost every case where I talked to a dealer or expert like a tuner/repair person who also just happens to sell pianos on the side (hmmmm), I get a shady salesperson vibe. "With a little work this piano would be worth 5x what I'm asking".

There's a sucker born every minute right? I'm trying my best not to be one, and the advice and searches for info in this forum has really helped. Just today I cancelled an appt to look at a baby grand Yamaha (GA1) based on the helpful info I read on this forum.

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