This is a multi-part message in MIME format. ---------------------- multipart/alternative attachment FWIW. Interesting part is in second paragraph below. Just before entering this profession 5 years ago I bought a brand new = 1098 for $13,500 (long, sad story - save your breath) (although we later = found out it had actually been manufactured 3 years prior to our = purchase and had traveled from NY to a dealer in Tennessee, to a dealer = in Kansas, to the same dealer in Tennessee, and then finally to the = dealer in Florida). For a host of reasons ranging from structural = defects to "dinging" noises, after about a year we tried to return it = and get our money back. Dealer would not cooperate. End result was we = traded the 1098 back to dealer and bought a lightly used Boston grand = piano (a repo) for about 1K more (the objective being to just get rid of = the piece of junk 1098). Now the interesting part. This relates to the current thread - how a = Steinway appreciates in value. I have reason to occasionally visit the = dealer we bought the 1098 from. After our piano trade, the 1098 went = back onto the showroom floor with an asking price of $16,000. The piano = sat for four years on that floor. The past few months it had a price tag = on it for $18,500. I was at the dealer recently and noted that the piano = was gone. I presume they found some other suc*&^#, I mean, I presume = they found another buyer for the fine instrument. Don't know what it = actually sold for, but perhaps this is what is meant by their value = increasing with time - an 8 year old studio increasing in value by about = 50% - who woulda thought? Whaadda deal! Terry Farrell (Still stewing a tad I guess.) =20 ----- Original Message -----=20 From: "Classic Touch Ent" <classictouchent@comcast.net> To: "Pianotech" <pianotech@ptg.org> Sent: Thursday, January 01, 1970 11:09 PM Subject: Re: market value > Steinway also doesn't mention that a loaf of bread (or practically=20 > anything else for that matter) is now twice the price it was ten years = > ago. Has investing gotten so dicey that people are now relying on = piano=20 > salespersons for investment strategies? Anyone got this client's phone = > #. > Maybe he could 'invest' in some piano lessons! >=20 > Rich Olmsted >=20 > > In a message dated 4/19/03 8:03:39 PM Central Daylight Time,=20 > > mfarrel2@tampabay.rr.com writes: > > > > I was under the impression that Steinways appreciated in value. What = > > did the D cost in 1970? > > > > Terry Farrell > > > > > > > > If you look at Steinway's web site, they say it is a good = investment,=20 > > arguing that the value of a D, (or any model), bought now is 2 times = > > more than it cost 10 years ago. Well, that might sound like they=20 > > pianos appreciate in value, but if you look in the Ascot Book from = 10=20 > > years ago, and compare the MSRP of all the pianos to what the MSRP's = > > are now, and you'll discover that ALL pianos are twice as expensive=20 > > today as they were 10 years ago. It's a sales ploy that quite = frankly,=20 > > as much as I like Steinways, stinks. It is very misleading, and to=20 > > some customers, very confusing Case in point. > > > > About 3 years ago I was asked to appraise a 10 year old S&S S for a=20 > > customer. When I told him it was wroth at most $20,000, he was=20 > > shocked. He had bought it 10 years earlier for $20,000, and were=20 > > selling new for about $36,000. He was lead to believe by the = salesman=20 > > that Steinways appreciate 100 percent in 10 years. So he plunked = down=20 > > $20,000, in the hopes of doubling his money in 10 years. He was mad = at=20 > > me for telling him he had been mislead. > > > > Wim > ---------------------- multipart/alternative attachment An HTML attachment was scrubbed... URL: https://www.moypiano.com/ptg/pianotech.php/attachments/52/7a/c4/09/attachment.htm ---------------------- multipart/alternative attachment--
This PTG archive page provided courtesy of Moy Piano Service, LLC