[pianotech] video interview Ronald Losby, President of Steinway

[Jurgen Goering]

A Steinway bought for $4500 in 1965 is "worth" about $12K - $16K in today's market (William Monroe).  Original price  was about a year's salary for someone.  45 - 50 years later (today) it is worth about half a year's salary.  
A new Steinway depreciates $7000 in the first five year (Wim Blees)
Rebuilt B: 26K (1993) to 45K in 2012, "their value doesn't drop like a stone" (Dale Erwin)

while these are mere examples, they do reflect the reality of the appreciation or depreciation that these instruments have.  None of these are examples of a "fine [financial] investment" .  I would say a fine investment would start at 5% above inflation.  At that rate, in 20 years an asset would indeed go up 3 - 4 times in value.

Now where is the Steinway that cost $40,000 in 1990 that sold for $120,000 and more, as the President of Steinway clearly states?  How do they get away with stating this, or what am I not understanding?

Jurgen Goering



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