CONSUMER INFORMATION GUIDE
JANUARY 1990

This Industry Standard Piano Price Guide gives you, as a buyer, a firm foundation to work with when planning your purchase and negotiating prices.   All of the prices in the guide are based upon the same margin ranges for each brand.  This ensures that there is no favoritism shown towards any particular model or brand and helps you get an idea of how the dealer is pricing their instrument relative to Industry Standard Piano Prices.

 

INVESTMENT QUALITY [ I.Q. ]

 

With pianos, as with most things, prices should serve as an index to values. And that means that when the price is established, the question of comparative quality (QR) is asked, and as to the investment value (IQ). Investment quality is based on a variety of  factors, the most important of which are price; styling; brand name; availability; service; and perceived determinants of quality such as tone, tuning stability, workmanship, beauty, and durability. In 1974 the average price of a quality well known console piano was $1,246, both imported and domestic. They are:

 

BRAND	SIZE	PRICE	BRAND	SIZE.	PRICE
Baldwin	41"	$1,470	Sohmer	41"	$1,415
Cable-Nelson	41"	$ 945	Steinway	40"	$2,774
Cline	40"	$1,295	Story&Clark	40"	$ 945
Kawai	41"	$1,064	Weber	40"	$ 850
Kimball	42"	$ 900	Wurlitzer	42"	$1,395
Krakauer	41"	$1,210	Winter	40"	$ 925
Schafer&Sons	42"	$1,185	Yamaha	42"	$1,075

During 1989, fifteen years later, any of the pianos listed above used in good condition will resale for between $1,500 and $4,400 depending on make and model. In all cases the pianos listed above have appreciated in value.

The two major producers in Japan, Kawai and Yamaha used the following approach to enter the U .S, market. Each offered a limited selection of moderately-priced, good quality uprights and grand pianos in 1960. Over the next two decades each upgraded the quality of its pianos and broadened its range of price points, models, and styles. In addition they expanded their technical and educational services to dealers, piano tuners, teachers and potential customers.  They have set challenging standards to all others in the world.

Three Korean producers began exporting to the U.S. market in 1978 (Samick), 1980 (Young Chang), and 1981 (Sojin). Korean producers quickly began emphasizing low-end grand pianos. By 1984 grands constituted 47% of pianos from Korea, compared with 35% of the pianos imported from Japan, and only 4% Shipped by U.S. producers. Grand pianos are more labor intensive than vertical pianos.