Should I buy this piano? Is it worth what I'm paying? How much should I sell my piano for?
Like an automobile, assessing the value of a piano, is complicated. Two antique cars of the same year, make, and model might have starkly different values. One, beautifully restored and worth a small fortune, the other a junked rust bucket, nearly worthless.
Similarly, two nearly identical looking pianos might have very different values based on their condition, age, and manufacturer.
But, in the case of pianos it's even more difficult to assess the value than automobiles.
When people look at antique cars, there is a range of about 100 years, with most of the cars having been produced in the last 60 years. When you're talking about pianos, you're talking about a span of 200 years+. There are many, many pianos in circulation that are at least 70 years old and older. Further complicating things, there were many more manufacturers of pianos than cars, and they went in and out of business, being constantly bought, sold, and traded. Also, few name brands consistently produced fine pianos. The quality of their pianos, like their fortunes, went up and down from year to year.
You've probably heard of the most famous brand of piano, Steinway. Their value in part comes from their consistency. They produced high quality pianos over a long period of time. Consequently, nearly any year is a good year for a Steinway. Other brands, like Knabe, were once some of the best pianos ever made, but now the Knabe name - bought out by a cheap foreign producer - are nearly worthless.
So without a lifetime of knowledge, or an encyclopedia of pianos, what can you do?
Firstly, you can start with some basic premises.
One, a very old upright/vertical or spinet piano 70+ years that has not been restored is generally of little value - unless it was of a famous manufacturer, or is particularly noteworthy (beautiful ornate case, near perfect condition, art case, special/unique in some fashion).
Two, a grand generally holds its value better, and the longer the grand the more valuable. Baby grands - around 5 feet long - are common and many are cheaply made. Grand pianos six feet long and longer are generally rarer and more valuable. Concert Grands - around nine feet - are quite rare and were generally better made than their shorter counterparts.
Three, age is not a determining factor of value by itself. Just because a piano is real old it doesn't make it valuable. Just because a piano is brand new doesn't make it valuable. This is similar to cars. You can have a brand new, really cheap, lemon of a car. Or you could have a beautifully restored fifty year old gem.
Note: There are many modern very short "baby grands" that shouldn't even be called an instrument they are of such poor quality. They may be cheap brand new, but they very quickly lose all value.
Secondly, you can observe and test physical and mechanical parts of the piano.
If you were looking at an auto you might "kick the tires". You'd listen to the engine, and take it out for a test drive. These are some simple tests you can perform on any piano
1. Check the keys
Beginning with the first key and ascending to the final key observe the following.
Is the tone even? Even if it's "out of tune" is it in-tune with itself. If the piano has different sections which are more out of tune than others this may indicate serious problems.
Is the action of the keys even? In other words, do the keys play about the same? Does it take the same amount of effort/force to play each key? The more uneven, the more mechanical issues.
Do the keys click, wobble, stick, or not play? If many keys have issues, there may be a lot of expense to repair the action?
Does it rattle, hum, twang, or groan? Unusual rattling, twanging, buzzing and errant sounds are indicators of problems. A good piano should sing not squeal.
2. Look under the lid. Visually inspect the pins, strings, and soundboard.
Are the pins and strings very rusty and/or dirty? String don't last forever, rusty and/or very dirty strings may need to be replaced - an expensive repair.
Are all the strings there? Do the strings look the same? If there are strings missing and/or some strings have been replaced it indicates a problem with the strings - too old/brittle - and may need a complete restringing
Are there water stains, soot, or dirt in the cabinet? Just like anything the condition of something tells you how an item was treated over its lifespan.
Is the soundboard cracked? (Especially important in a grand) The soundboard is located below the strings, it resonates/amplifies the sound from the strings. Multiple cracks in a soundboard and indications of past repairs may signify that a piano's soundboard needs work (expensive and difficult to repair) Small cracks in the soundboard may not be significant provided that the ribs (the wood that runs underneath) are still glued and attached to the board.
3. look at its finish and overall appearance.
Is the finish original? There are many pianos that have been poorly refinished, greatly diminishing their value. An original good quality finish is best, or a professional refinishing job.
Are the scratches, dents, cracks repairable? Significant physical damage may not be repairable or may indicate that a piano has been dropped or abused?
4. Know the age and brand
Look for the serial number. Look up the number and manufacturer on the internet. There is a guide on the internet on where to look for serials on pianos. http://www.piercepianoatlas.com/findno.html
5. Consult an expert
Lastly, before investing any significant amount of money, ask the advice of a local piano tuner and technician. Get a piano appraisal.
Thank you, and good luck buying and selling pianos
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