Appraisal Value

[Dean May]

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Andrew,
 
There are two values to give when appraising pianos: replacement cost
and market value. They aren't the same. 
 
You should have some working knowledge of what pianos are selling for in
your area. With a piano like this, what you have is a generic piano for
home use, good for lessons and banging out occasional hymns. In my area,
such a piano will bring $300-900, depending on how nice the cabinet
looks. Look to see if it needs any repairs and deduct from the price.
That is the market value. 
 
Dean
Dean May             cell 812.239.3359
PianoRebuilders.com   812.235.5272
Terre Haute IN  47802
 
-----Original Message-----
From: pianotech-bounces@ptg.org [mailto:pianotech-bounces@ptg.org] On
Behalf Of Andrew Olson
Sent: Monday, March 28, 2005 2:44 PM
To: Pianotech
Subject: Appraisal Value
 
Dear List:
 
I have been asked to give an appraisal value for one of my customer's
pianos.  It's a Story & Clark, 1972.
 
How does one begin to find the VALUE of a piano like this in currency?
They live in a rural area-- there are no piano stores within 90 miles.
My hunch is they'll just list it in the local newspaper.
 
This will only be my second stop at this piano.  I tuned it back in
October-- it hadn't been tuned or maintained in more than 10 years
prior.  It survived the pitch raise.  Now they want me to tune it again
and give them a value that they should try to sell it for.  Is there a
standard for this?  Do technicians usually charge extra to do an
appraisal?
 
Thanks for your help!
 
Andrew Olson, Sturgeon Bay, Wisconsin

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