An economic perspective (WAS Should I?)

Rob & Helen Goodale rrg at unlv.nevada.edu
Mon Sep 15 10:53:40 MDT 2008


I would pass.  It would be very difficult to make a profit reselling this instrument.

The piano market, (in fact the musical instrument market as a whole), absolutely SUCKS right now.  I'm seeing some pretty decent pianos that are only a few years old selling on craigslist in the same general price range or less!.   I have been selling used pianos for quite a while now and I have had to lower my prices down into the dirt to get them out the door.  I'm practically giving them away and could have gotten nearly double the amounts just a few years ago.  Nobody is buying, their selling their pianos and anything else of value to make their mortgage payments.  In order to make it worth your while you would have to hold onto the piano in storage for a long time until the market comes back before you would have any chance of profiting from the deal.  And that assumes the piano doesn't need any work.  Without a doubt it is clearly a buyers market right now, I have never seen it this bad.  There is a reason why hundreds of dealers are closing their doors!

Rob Goodale, RPT
Las Vegas, NV
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