This takes a little effort, asking lots of questions to everyone, including pianists, piano dealers, piano technicians, and other piano lovers. Lastly, one has to do a certain amount of due diligence to learn about competing Steinway resellers, basic knowledge about the construct and sound of the piano, and information on what pianos are selling for on the actual secondary market.

Similarly, when they sell their Steinway, they can call numerous dealers, and private individuals to compare offers and get the best price. Maybe your neighbor has a piano and thinks they know what's best for you. Certainly the piano salesperson will attempt to talk you into a new piano, or your piano teacher might have an opinion. When a musician buys in this market they know that they can use and enjoy their Steinway for many years and then sell back into the same market they bought in. In other words, as an experienced piano restoration specialist, my recommendation is, 'Yes, your piano is worth it.' And yet, you might be told otherwise. These sellers, by virtue of a real market, must compete. There are numerous sellers of used Steinway, especially in healthy markets like New York City, Los Angeles, San Francisco, and Washington DC. On the secondary market for Steinways, one can observe these traits. What are the characteristics of a real market? A true market has 1) many buyers and sellers 2) equal access to information. The only way to pay a fair price for a Steinway or to sell a Steinway piano for a fair price is to be part of the actual РІР‚СљmarketРІР‚Сњ. The Mercedes Benz E Class is the fastest depreciating car The reason being that when you buy new at Steinway there is no competition, and therefore the pricing is not subject to an actual РІР‚СљmarketРІР‚Сњ, but rather the pricing desire of the Steinway company. Tell us what else you do know and the Appraiser will be able to better assist you. Sometimes its turned out to be surprisingly valuable. People understand that when it comes to luxury cars, and the effect is very similar when buying brand new at Steinway. What is my Piano worth, Experts Assistant: I always love having an appraiser look at my stuff. When someone buys a Steinway piano new from the Steinway showroom, there is invariably a significant drop in value the minute the piano comes home. If you do a little work on both sides of this equation (buying and selling), your Steinway РІР‚Сљcost of useРІР‚Сњ can be minimal in many cases, it is zero. So how do you know if itРІР‚в„ўs TOO expensive? The answer may be found in what is known as the Steinway РІР‚Сљcost of useРІР‚Сњ or РІР‚Сљcost of enjoymentРІР‚Сњ, namely what you pay for the piano, minus what you can reasonably expect to sell it for in 10-15 years.

Many financially savvy individuals understand that often, when they pay more for something, it retains its value better than something less expensive. How much is a Steinway (or this Steinway) worth? As pianists, musicians, students, parents, and music lovers play through Steinway pianos they love, it is a question of great importance.

What is my piano worth