KPS Policy for Purchasing Pre-Owned Pianos
During our first thirty years in business, we purchased almost any age of piano, color, or style. For the last ten years of business, we have seen drastic changes in the piano business that affect what we purchase and what we stock in our inventory. There are several reasons for these changes:
A. There has been a cultural shift toward digital pianos and technology, which affects acoustic piano purchases.
B. There are different buying patterns for the consumers today. They want newer pianos, styles, and current popular colors.
C. The large majority of pianos being made overseas can be made for a fraction of the cost of pianos made in America. Some of the reasons for this are:
- Low overhead
- Real estate is very reasonable
- No unions and fewer government restrictions
- Cost of electric is minimal
- Employees get paid low wages
D. With pianos being manufactured so “inexpensively” overseas today, the used piano market in America has depreciated in value, which makes it hard to justify putting money into older used pianos for resale purposes.
E. Generally, the only older pianos (over thirty years old) that we work on, are customers’ pianos which are very sentimental, and therefore the price of restoration is reasonable to them. Their piano will be passed down for two or three generations as an heirloom. For example, an average 4’11” baby grand piano being rebuilt and refinished may cost $17,000, and be worth it to the owner for sentimental reasons, who will then pass it down to future generations someday. However, a new Knabe baby grand would sell for $9,500 with the same size, better quality, all new parts, plus a ten year warranty. The price of rebuilding and refinishing a piano is almost double the cost of purchasing a new piano.
We wish you the best as you attempt to sell your piano privately, if your piano is over thirty years old. We will be glad to appraise your piano to help you with this process. Of course, we do charge an appraisal fee. Our Appraisal Fee is $85.00 for locations within twenty-five miles of our store, (higher for longer distances). If Kramer’s Piano Shop purchases the piano, the appraisal fee is waived.For more information, see Appraisals.