After thinking about it I think this piano is modern enough (full plate)
that Steinway won't be interested so probably no help there. Regional price
differences and the market make it difficult to assign a value. Things like
case condition, veneer quality and grain, original designed case parts,
ivory, all contribute to the overall value, not to mention the quality of
the sound and performance. I don't think it needs to be strictly original
in terms of the performance characteristics (soundboard and action design)
but having an intact and finely finished case with beautiful grain and faux
finishing (that's the original method) of the carved legs can add value.
Covering a flawed finish with black might look cleaner but also will lessen
the value slightly from a mahogany, rosewood or whatever it is. Ivory
helps too but you may well be looking at a new set of keys on a piano of
that vintage and if you want ivory that ups the ante considerably. Sadly,
these don't tend to be big money makers. They're interesting projects and
can be valuable in terms of the learning curve but it can be an expensive
learning curve especially if you have trouble selling it, are borrowing the
money to finance it or are simply out of pocket and end up having to sell if
for a loss. Personally, I'm very reluctant to spec on new projects lately
because I don't like looking for shortcuts to lower the profit line and the
market makes it difficult to turn over pianos like this with premium prices.
If I get the piano for free or for a very nominal price I'll take it but
it's definitely taking a back seat to the contract projects which,
fortunately, are still coming in. Not to say you shouldn't do it. But you
have to really think it through carefully and be very conservative about the
value and therefore how much you are willing to pay for it.
Under the best of circumstances you can make some money and they can be very
satisfying projects but they are not get rich quick schemes so a careful
examination of your motives is in order.
David Love
www.davidlovepianos.com
Anybody got a rough idea of the value of a good 1881 Steinway 6
footer?
(Subtract 15-20% for Montana!)
I'm well aware of the downward trending of piano values, and that this
would be a highly speculative endeavor. But I'm also just intrigued with
the
process of restoration, and I realize I'll probably have to "pay for my
education" in this process.
Again, thanks to you who have responded thus far, and I hope this
discussion might also foster some interesting tangents on rebuilding
pitfalls
and potholes - possibly even some anecdotes of unexpectedly wild success.
(Do
those even exist?)
John Dorr, RPT
Helena, MT
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