Purchasing a new piano can be a daunting task. It’s not as easy as running to the sporting goods store and picking up a soccer ball. You can’t store it as easily as a new pair of sneakers.
Purchasing a new piano is an investment in your future. Selected correctly, you can expect your piano to give you a lifetime of enjoyment. And whether you’re ready to move up in quality, or simply downsize and give the next generation an opportunity to play, pianos can be an investment that pays you back when you’re ready to sell.
But how do you know which pianos hold their value? Is it based on style? Make? Brand?
Every piano is different. It depends on all of that and more. Yet there are a few general principles that determine how much value a piano will hold over time.
First of all, realize that pianos depreciate just like every major asset you own. As soon as you bring them home from the dealer, they start the depreciation process, sometimes losing as much as 20 percent in the first year alone. Then they continue to move downward depending on a variety of factors:
- How well they are maintained
- How much humidity impacts the parts
- Replacement parts
- Tuning, voicing, and other care
But not all pianos depreciate at the same rate. Mass-produced pianos are going to go down in value more than ones that are lovingly created one at a time. If you choose the best names in the business – Steinway, Bosendorfer, or Yamaha – they can actually go up in value over time.
Why? Because of the quality. They’re that good.
If you select a limited edition instrument, they also tend to hold their value and be more valuable in the resale market. These instruments have unique finishes or special components that make them wanted on the open market.
Do pianos hold their value? The best answer is: it depends. If you want a high quality piano you can play for a lifetime, we can help you with that. If you care about long term value, we can help you with that too. Stop by today and consider your options from our complete stock of high quality instruments. You’ll find one you can love for a lifetime.
