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This is a comparison high and low market prices for two
different categories of Steinway grand pianos. These piano examples are
constructed from actual sales figures and retail prices of pianos bought
and sold during the years between 1986 and 1999. The prices
marked "high" are approximately a 60% margin and the prices
marked low are approximately a 30% margin. Margins vary
considerably from region to region and dealer to dealer. However,
having been a dealer myself, I know that if the dealer doesn't maintain a
margin range between 30%-60%, they will not be able to cover their
expenses and stay in business.
The New Steinway represents
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A model L, Size 5'10 1/2", new in each year
listed in the chart.
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Is satin ebony with a classic style case.
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It has a wet-sand cast plate that was done in a
non-Steinway foundry in the U.S. (The original Steinway foundry was
closed prior to 1986)
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The piano is a Superior example of New Steinway model
L's built in the years they are made.
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The yearly values represented on the chart come
directly from the trade records we have kept representing the
wholesale and retail prices for new pianos each year across the
country.
The Vintage Steinway
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Is a model O built between 1900 and 1939, Size
5'11".. It is assumed to have been rebuilt and refinished to the
Piano Finders Superior Standard in each year represented on the
chart.
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Is satin ebony with a classic style case. It's cabinet
has more detailing on the legs, music rack and pedal lyre, in addition
to having a molding strip around the bottom part of the cabinet body.
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It has a wet-sand cast plate that was done in the
original Steinway factory.
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Was brought up to the Piano Finders Superior Standard
for touch and tone by the owner after purchase.
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The piano is a Superior example of Vintage model O's
rebuilt in years they are rebuilt.
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The yearly values represented on the chart come
directly from the trade records we have kept representing the
wholesale and retail prices for vintage pianos each year as compared
to new Steinway pianos.
What has happened over the past 13 years that have
influenced the greater increase value percentage of Vintage Steinway
Grands over new Steinway Grands?
There is an Increase in demand and decrease in supply of
Vintage Steinway Grands.
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There are more buyers coming into the marketplace who
already know they want a Vintage piano.
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There is a fixed supply of pianos built between 1890
to 1900.
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European, Japanese and Canadian dealers are buying
vintage Steinways from the U.S market for resale in their market
place. This has decreased the supply available in the U.S.
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The piano dealers and brokers have made the used piano
business a major part of their sales strategy. Salespeople are
now empowered to go out and buy pianos directly from private parties
and bring them into the showroom for resale. It used to be that
dealers only took trade ins and tended to emphasis new piano sales
over used piano sales. (Note: Interesting
newspaper article on Used Piano Market)
See Investment Value Comparison of
Two Steinway Grands for additional comments that are pertinent to
understanding the marketplace.
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