There are, of coarse, classes of instruments ranging from It is the condition of a unit, both inside and out, which establishes it's basic value, just like with any other consumer good. "What is my player piano worth?" Honestly, I can't tell you with any degree of accuracy. If it didn’t, leave a comment below and I will get back to you with answers.One of THE most difficult questions that I am constantly being asked is, I hope this guide helped you understand piano depreciation and answer all of your questions.
It will also look nicer, making your property look nicer as well. If you are taking good care of your piano & cleaning it, this will only benefit you in the long run. If you own a piano, you need to make sure you are tuning it as needed, preventing cats or other pets from damaging it, and keeping it in a good climate-controlled environment. Pianos that are taken care of drastically hold value more than ones that are neglected. You can save hundreds of dollars by buying something that is only a couple of years old. As long as the instrument isn’t damaged and it has been taken care of, this route can be very effective for buyers. With this being said, this leaves an opening for buyers to search for used digital pianos. This is mainly due to the fact that newer models come out which replace them with more features & usually improvements. Do Digital Pianos Depreciate?Įven the best digital pianos absolutely depreciate. Steinway pianos are generally the most expensive and they tend to hold their value the most. This is mainly because they are so expensive that they are considered a valuable asset. Grand pianos typically hold value the most. Which Pianos Hold Value The Most Or Appreciate? Older upright pianos are often worth little to nothing and people who are moving, usually will look to just give them away if they’re no longer playing them. So why did I get it for free? Well, it was over 30 years old, weighed over 800 pounds, & it needed a tuning.
WHAT IS MY PIANO WORTH FREE FOR FREE
I was actually given a Story & Clark upright piano for free years ago & in all honesty, it worked great. On average, upright pianos will depreciate the most in value. Like most things, more expensive pianos typically do not depreciate as fast as cheaper ones. Moving pianos is also not cheap and it usually drives the price down. This is because there will most likely need to be tuning and inspection to ensure none of the hammers or strings are damaged. If you’re someone looking for a used upright piano, be sure to check Facebook marketplace and other avenues.Īnother thing to remember is that a piano that has depreciated to $1,000 in value, is usually not going to sell for that. With this being said, there are some things you can do to slow the depreciation.īecause pianos are often very heavy, used pianos are sometimes given away for free. Remember, the more wear & tear on your piano, the more it depreciates. After this, you can see it slowly continues to decline for 20 years, reaching its final number of 40% of its original value.Īs you can see, after the first couple of years, pianos will depreciate by about 5% per year. Pianos typically depreciate to 78% of their value in the first year alone. These are approximations that assume certain wear & tear over time. This table below shows how much the piano is worth from its original price on average.
This is typically because they are usually in much worse condition. Note: Used pianos depreciate much faster than newer pianos. Now that we have an idea for why pianos depreciate over time, let’s take a look at just how much below. *Selling a piano to a dealer is never going to amount to anything close to what you paid, it’s more of a convenience thing as they will come and pick it up for free and perform the necessary maintenance. I’ve labeled it with numbers to mark the importance of each.
Here is a list of factors that will cause your piano to depreciate. With this being said, you can still resell your piano to a buyer for a similar price if it was taken care of. Piano dealers, just like car dealers, need to turn a profit.Įveryone knows that as soon as they drive the car off the lot, it’s going to depreciate. If you’re curious as to why your piano depreciates, it’s very similar to buying a car off a dealer lot.