When you want to know how much something you own is worth, you can find out in various ways. When the item happens to be a piano, there is a bit more to consider. The piano is too big to take for an appraisal and it is also an expensive item, so you want the most accuracy possible. You can determine what your piano is worth if you are willing to invest some time.
Things You'll Need
- "The Piano Book"
- Piano Blue Book
Buy "The Piano Book" by Larry Fine. This book offers an up-to-date list of prices of current pianos that are both new and used. It also has pertinent information on piano pricing and discount information. This information should be very useful when trying to find out what your piano is worth.
Hire a piano technician who can come to your home and look at your piano. He will know what to look for and can give you a realistic price. Usually he will also provide you with written proof of the appraisal.
Compare your piano to other pianos. Compare more than appearance alone. Include quality, durability, current market supply and tone. Look in the newspapers for a similar piano that is being sold or that has sold. Compare your findings to help determine the worth. You can also look online at sites like Craigslist, under "pianos for sale."
Locate a piano that has recently sold and is as close to yours as you can find. A used piano is usually worth half of what it was when new. Then subtract any cost of needed repairs and multiply that price by .33. This is not the best method, but many use it to get a value.
Look in an piano Blue Book to see what your piano is worth. You will need the serial number, the date and the manufacturer name.
Cheryl Hinneburg has been a freelance writer for five years. In addition to the regular clients that she works for, Hinneburg also writes regularly for Demand Studios and Associated Content, and is a provider for eLance. She is an award-winning poet and is currently working on a Master of Science with a certificate in substance abuse counseling at Capella University.