Wimblees@AOL.COM wrote: > The Web site states: "Over the past 10 years, the retail value of a Steinway > concert grand has appreciated nearly 200%." > According the Ancot book, in 1990 a Steinway D had a retail value of $52,380. expanding the numbers out to 40 years shows how silly it can look. If average inflation is 3% per year or 142.6% per ten years compounding. If Steinways increase at 200% per ten years, in forty years a 52,380 piano will cost $202186 in today's purchasing dollars, which is $838008 in 40 years. At 200% per 10 years in 10 years= $104760 in 20 years= $209520 in 30 years=$419040 in 40 years=$838080 (in Canadian dollars +50% this translates with taxes added into One Million Four Hundred and forty six thousand dollars) If average inflation & incomes go up 3% per year average 52,380 value should become in 10 years a 74,693 value 20 years 106,513 30 years 151,888 40 years 216,592 (nearly one quarter Steinways inferred price) A discrepancy ratio of 1: 3.86. Would people but Steinways today if they jacked the price up 3.86 times current retail tomorrow. So once again number speaks for themselves. In forty years $838080 would be like paying $202186 in today's dollars for that $52380 Stienway. A skeptic Dave Renaud RPT Canada
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