Probably the most frequently asked question we hear at PianoMart.com is “How much is my piano worth?” It’s difficult to answer that question because to accurately evaluate a piano, it is necessary to thoroughly inspect the internal components of the instrument including the soundboard, bridges, pinblock, hammers, dampers, keys, strings, test the tuning pin torque, and examine the exterior condition of the cabinet. It is also necessary to listen to the quality of tone and to feel the response and playability of the piano action and keys. This can only be done in person.
- We do not give appraisals via email or phone, so please DO NOT email us asking how much your piano might be worth.
To determine a fair asking price for your piano, we suggest that you hire a local piano technician to inspect and evaluate your piano and provide you with an appraisal. It is also important to determine the age of the instrument. By referencing the serial number, the technician can also tell you the year of manufacture. Or, we invite you to email us the brand name and serial number of your piano and we will be happy to provide you with the “year of birth”.
To find a piano technician in your area, go to Find A Technician
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I found a technician. Thank you!
Fred,
According to the serial number, your piano was built in 1930. Since your piano tuner has been servicing the instrument for over 20 years, he would be the best person to consult regarding its value.
I have an Emerson upright piano Serial # 90593. could you tell me how old it is?
Steinway upright piano serial #33596 manufactured in 1877. Ornate piece finished in Mahogany Satin, in fair condition. Plays well. Interested in an estimate only.
November 4, 2010
Caution: All Technicians are not qualified to provide appraisals to the IRS or Courtrooms – In many cases the IRS has denied appraisals preformed by Piano Technicians.
IRS Appraisal Requirements
The appraisal must be made by a qualified appraiser in accordance with generally accepted appraisal standards. It also must meet the relevant requirements of Regulations section 1.170A-13(c)(3) and Notice 2006-96. Notice 2006-96, 2006-46 I.R.B. 902, is available at www. irs.gov/i rb/2006-4 6_IRB/ar13. html.
If you had to get an appraisal, you must get it from a qualified appraiser.
A qualified appraiser is an individual who meets all the following requirements.
1. The individual either:
a. Has earned an appraisal designation from a recognized professional appraiser organization for demonstrated competency in valuing the type of property being appraised, or
b. Has met certain minimum education and experience requirements.
2. The individual regularly prepares appraisals for which he or she is paid.
3. The individual demonstrates verifiable education and experience in valuing the type of property being appraised. To do this, the appraiser can make a declaration that, because of his or her background, experience, education, and membership in professional associations, he or she is qualified to make appraisals of the type of property being valued. The declaration must be part of the appraisal. However, if the appraisal was already completed without this declaration, the declaration can be made separately and associated with the appraisal.
4. The individual has not been prohibited from practicing before the IRS under section 330(c) of title 31 of the United States Code at any time during the 3-year period ending on the date of the appraisal.
In addition, the appraiser must complete Part III of Form 8283. See section 1 70(f)(1 1 )(E), Notice 2006-96, and Regulations section 1.170A-1 3(c)(5) for details.
Persons who cannot be qualified appraisers are listed in the Declaration of Appraiser. Generally, a party to the transaction in which you acquired the property being appraised will not qualify to sign the declaration. But a person who sold, exchanged, or gave the property to you may sign the declaration if the property was donated within 2 months of the date you acquired it and the property’s appraised value did not exceed its acquisition price.
Persons who cannot be qualified appraisers are listed in the Declaration of Appraiser. Generally, a party to the transaction in which you acquired the property being appraised will not qualify to sign the declaration. But a person who sold, exchanged, or gave the property to you may sign the declaration if the property was donated within 2 months of the date you acquired it and the property’s appraised value did not exceed its acquisition price.
An appraiser may not be considered qualified if you had knowledge of facts that would cause a reasonable person to expect the appraiser to falsely overstate the value of the property. An example of this is an agreement between you and the appraiser about the property value when you know that the appraised amount exceeds the actual FMV.
Fair Market Value (FMV) FMV is the price a willing, knowledgeable buyer would pay a willing, knowledgeable seller when neither has to buy or sell. You may not always be able to deduct the FMV of your contribution. Depending on the type of property donated, you may have to reduce the FMV to figure the deductible amount, as explained next.
Although the amount of your deduction determines if you have to file Form 8283, you also need to have information about the FMV of your contribution to complete the form. Specific Instructions Identifying number. Individuals must enter their social security number. All other filers should enter their employer identification number.
We have a Kawai piano, #316113, we purchased new several years ago.
It is played every week and tuned annually. We want to sell it but unsure what it is worth. Can you advise?
Thank you,
Jim
Jim,
As outlined in the above article, for an accurate evaluation of your piano, hire a local piano tech to come and inspect the instrument and provide you with an appraisal. To find a technician in your area, click here: http://ptg.org/findATechnician.php
Jennifer,
According to the serial number, your piano was built in 1908.
Nancy,
As suggested in the original article, contact a local piano tech for an accurate appraisal of your piano. Click on the link above “Find A Technician”.
I have a 1939 ebony Steinway Grand piano that has been in storage for 15 years and has not been played in 20 years. I would say it is in poor to fair condition. I would like to find out roughly how much it would cost to restore it to full working condition.
Cheers,
Lynn
A complete restoration on a Steinway Grand would cost about $20K. This includes a new soundboard, bridges, pinblock, strings, hammers, shanks, flanges, wippens, dampers and refinishing. For a more accurate estimate, contact one of the rebuilders listed here:
http://www.pianomart.com/blog/resources/piano-rebuilders/
Hi,
We are in the process of downsizing. We are wondered what our Baldwin Hamilton upright piano is worth? We bought it roughly 25 years ago- new from a dealer. The serial number is 388460, style 246 C, It is medium toned wood- with a little bit of burle design on the book holder (has the matching bench seat that lifts to store books).
It is in good condition physically- a few cat scratchs-minor. The mechanical portion is in excellent condition. It was last tuned about 3 years ago. It has always been well cared for- in the living room, against an inside wall, not abused in any way. Thanks.
Comments welcome, Catherine
Hi the serial numberber of my piano is 54984 and it was manufactered by Sterling Co. How old is it?
According to the serial number, your piano was built in 1912.
I have a 2000 upright Hyundai in excelent condition and want to sell.I’m moving and haven’t any room. how much should I sell it for?
Hasn’t anyone read the original post to this topic? It’s impossible to give an accurate appraisal for a piano without inspecting it in person. Hire a local piano tuner to come and give you an appraisal.
I have a Kohler and Campbell upright black ebony 5 years old in excellent condition. Anyone know value of my piano?
Connie,
You need to give more information about your piano. What is the model number? How tall is it? Are you the original owner? How much did you pay for it? Or, just contact your piano tuner and ask him what it’s worth.