school buying 40% of a piano

[PNOTNR@aol.com]

One of the pianos at Colby is a Yamaha G2 from 1982.  It actually belongs to 
a local citizen who had no room for it, and has been loaning it to the 
school.   Very typical G2 btw.

Now she wishes to donate it, or rather donate 60% of it to the school, so the 
music department needs to come up with 40% of it's fair market value.

Owner says she paid $7K when new in the 80's.  Is 50%  or $3500.00 a 
reasonable asking price for an 18 year old G2?  This would mean $1400. for 
the school  (Seems like a great deal for the school, but since both the 
school and the owner are customers, I want to be absolutely fair)

Gordon Large, RPT
Colby College
Waterville, ME