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Reported Piano Sales

Most piano dealers aim for a gross profit margin on their pianos of about 40 percent. This means 40 percent of the retail price is profit above cost; the other 60 percent is the wholesale cost to the dealer (including freight, and other significant expenses). Depending on local economic conditions, competition, and the dealer's overhead, a slightly higher or lower profit margin may be desirable or acceptable, but 40 percent is considered about average. However, the price quoted to you or written on the price tag as the "list price" or "manufacturer's suggested retail price" is usually figured on a higher profit margin of more than 50 percent, that is more than double the wholesale price - to allow for "negotiating" with you or for offering you a "discount".  Prices shown herein are accurate.

Source: U.S. Chamber of Commerce Reported Piano Sales 1988 - 2001 

   GRAND PIANOS

UNITS SOLD WHOLESALE RETAIL
     
1988- 32,349  $182,032,000 $304,598,000
1989- 28,626  $165,787,000 $276,699,000
1990- 27,742 $166,219,000 $277,420,000
1991- 27,855 $172,454,000 $287,826,000
1992- 29,369 $187,159,000 $312,369,000
1993- 27,000 $192,076,000 $320,766,000
1994- 28,020  $198,612,000 $326,461,000
1995- 36,470 $205,221,000 $338,615,000
1996- 33,841  $190,428,000 $314,206,000
1997- 39,098  $208,275,000 $343,654,000
1998- 41,390  $220,443,000 $363,731,000
1999- 45,860  $244,251,000 $403,014,000
2000- 48,822  $246,423,000 $408,411,000
2001- 42,822 $227,633,000 $386,016,000
     

    SPINETS, CONSOLES & UPRIGHTS

UNITS SOLD WHOLESALE RETAIL
     
1988- 109,348  $158,289,000 $264,185,000
1989- 97,691 $154,116,000 $257,220,000
1990- 84,186  $134,477,000 $224,443,000
1991- 79,086 $126,328,000 $210,843,000
1992- 75,513 $121,831,000 $203,337,000
1993- 68,811 $124,304,000 $207,466,000
1994- 71,151 $129,475,000 $216,685,000
1995- 82,381 $152,404,000 $251,468,000
1996- 76,843 $142,160,000 $234,258,000
1997- 88,020 $162,837,000 $268,681,000
1998- 89,540 $165,649,000 $273,320,000
1999- 92,250 $170,663,000 $281,594,000
2000- 90,602 $167,987,000 $277,006,000
2001- 95,602 $179,875,000 $297,026,000
     

     2000 SALES - GRAND PIANOS BY SIZE

SIZE NO.

SOLD PERCENTAGE OF  MARKET
     
Under 5' 7,819 20.70%
5' - 5' 5" 15,047 42.60%
5" 6" - 5' 10" 8,135 19.25%
5' 11" - 6' 4" 5,141 13.15%
6' 5" - 7' 10" 1,992 5.10%
7' 11” & Over 399 1.02%
     

*The Federal Trade Commission is conducting a nonpublic investigation to determine whether the manufacturers of musical products and others may be engaging or may have engaged in any unfair methods of competition in violation of Section 5 of the Federal Trade Commission Act, 15 U.S.C. § 45, as amended:

A. through an agreement, combination, or conspiracy, among themselves and others, to restrain price competition relating to musical products and/or:

B. Through the adoption, implementation, and maintenance of minimum advertised price policies relating to musical products.

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