The prices given here for pianos that are not reconditioned or rebuilt (those labeled Worse, Average, Better) are the price ranges you might expect to find when buying pianos from private owners. The Reconditioned and Rebuilt categories represent prices you might encounter when shopping for such pianos at piano stores or from piano technicians, with a warranty given. In some cases we have omitted the Rebuilt price because we would not expect rebuilding to be cost-effective for pianos of that general age and type. In every case, prices assume the least expensive style and finish; prices for pianos with fancier cabinets, exotic veneers, inlays, and so forth, could be much higher.
"Best brands" include Steinway, Mason & Hamlin, and the very best European makes, such as Bechstein, Blüthner, and Bösendorfer. "Better brands" include the well-regarded older names mentioned in the accompanying article for the pre-1930 period, such as Knabe and Chickering; and names such as Baldwin, Everett, Kawai, Sohmer, Yamaha, and others of similar quality for the 1950–1980 period. "Average brands" are pretty much everything else.
Worse, Average, and Better refer to the condition of the piano in comparison to the amount of wear and tear one would expect from the piano's age. However, even Worse pianos should be playable and serviceable. Note that because many buyers are quite conscious of a piano's appearance, pianos that are in good shape musically but in poor shape cosmetically will often sell at a price more consistent with the Worse range than with a higher one. This offers an opportunity for the less furniture-conscious buyer to obtain a bargain.
For a discussion of the definitions of reconditioned and rebuilt, please see the section "Buying a Restored Piano" in this article. For the purposes of this chart, however, we have adopted the requirement that a piano has not been rebuilt unless its pinblock has been replaced, and that a piano that has been restrung, but without a new pinblock, is considered to have been reconditioned. Note that these definitions are not precise, and that both the quality and the quantity of the work can vary greatly, depending on the needs of the instrument and the capabilities of the restorer. These variations should be taken into account when determining the piano's value.
SPRING 2010 -- page 66
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Hybrid & Player Pianos
New-Piano Buyers’ Reference