Used Piano Prices

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DEFINITION OF TERMS HOW MUCH IS YOUR USED PIANO REALLY WORTH?

There are a few things you should know before you buy or sell a used piano or even advertise your piano for sale, and some questions you should have the answers to before doing so. Please Visit Our Resource Page as a starting point.

We have adopted the following designations to identify the condition of an instrument.

1. R & R = Rebuilt and Refinished
2. Refurbished = Reconditioned
3. The age of an instrument is considered as a part of the condition.
Excellent Under 10 Years - Good 10 to 20 Years - Fair Over 20 Years

The Bluebook of Pianos has adopted the following definitions to help clarify the level of repairs on a piano. 

1. "A used piano that has been disassembled, inspected, repaired as necessary with replacement of all worn or deteriorated parts, reassembled, tested and approved to at least the tolerances of a new piano of like manufacture is said to have been rebuilt.

2. A used piano that has been put back in good condition by cleaning, repairing and adjusting for maximum performance with replacement parts only where specifically needed is said to have been reconditioned." The labor-intensive work required to rebuild a piano properly is not inexpensive. Therefore, a rebuilt piano should be purchased because of its merits, not purely as a money saving measure compared to a new instrument. 

CMV:  "CURRENT MARKET VALUE"

1. Reflects the wholesale or current market value of a piano  after all repairs have been made.
2. This is  not  the  amount  you paid for or the amount allowed in trade.
3. This is  the  actual amount the instrument is worth, it  does  not include additional moving or other make ready. 

FMV LISTS: "FAIR MARKET VALUE"

Valuations  reflect both wholesale and retail prices paid  by dealers at auction and retail prices in retail piano  stores.  The age of an instrument is not a consideration, prices shown are  for vertical pianos made after 1960, pianos  older  than that  should  receive additional scrutiny by buyer. In  the case of Grand Pianos worth rebuilding, the age could be 100 + years,  condition  will  still determine the  value.    

NOTE: We have adopted the following designations to identify the condition of an instrument.

                                        1. R & R = Rebuilt and Refinished
                                        2. Refurbished = Reconditioned 
                                        3.The age of an instrument is considered as a part of the condition
                                        4. Value depends greatly on the Name Brand and condition of the instrument.

See: Rebuilding for restoration costs.

PIANO AGE | ARCHIVES | APPRAISALS | CONSUMER GUIDES | BLUEBOOK VALUE  | SELL A PIANO   

Replacement value usually refers to the retail price that you would need to pay to buy the nearest new equivalent to the piano you have. If there is a new piano that is similar in size, quality of general construction and description, then this is usually a new piano. If there is not new equivalent, then usually the replacement value is based upon what it would cost to find a used piano that is similar and have it remanufactured to like-new condition. Replacement Value: This is the value you want to insure your piano for replacement value.

See: Rebuilding for restoration costs.

Copyright (c) 2014 by The Bluebook of Pianos. This information  is provided "as is" without express or implied warranties. While every effort has been taken to ensure the accuracy of the  information contained in this article, the maintainer assumes no responsibility for errors or omissions, or for damages resulting from the use of the information contained herein.