Piano Industry Standard Prices
This page is intended to be quite cynical about the piano business and the published prices and ratings on the internet. It's not intended to discourage you from buying a piano or make your piano buying experience any less pleasant. The intention is actually to do just the opposite. If the dealer knows that you know what is going on and that you aren't going to be smooth talked into buying because it is alleged to be 50% to 70% off and more, it puts you in the drivers seat and gives you control over the process!
Prices are given only for the lowest-priced style of each model. Prices for styles with fancier furniture, more expensive woods, or special features may be considerably more expensive. In order to provide a level playing field for comparing prices, all prices in this guide are computed according to a uniform “piano industry standard” formula. We do not list "Bogus" Manufacturers List Prices, nor do we think we are qualified to be so bold as to offer our own version of maximum suggested prices, which are also very questionable.
| SUMMARY: To compute the approximate wholesale price for a product with a suggested retail price of $2,500.00 price code, use the following formula: |
|
Retail Price x (100% - Gross Margin %) = Approximate Wholesale Price
$2,500.00 x (100% minus -54% or .46) = $1,150.00 |
| Please note that the computed product cost (Approximate Wholesale Price) does not reflect such factors as special terms, promotions, minimum purchase requirements, quantity discounts, changing currency values for imported products, freight charges, etc. |
Despite the rating and
grading of pianos by many consumer "tip sheets" somehow the spinet piano
survived and in 1947, according to figures released by the Bureau of the Census
of the Department of Commerce, there were 148,300 pianos manufactured. Of these
70,800 were vertically strung pianos, 37 inches or less in height. While there
was no authoritative dividing line between what might be called a spinet or a
console at that time. Any piano 37 inches or less in height falls rather
definitely in the category of the spinet. This margin of profit, then as now,
was under 50%. It was in fact a margin of 42.5 per cent on the retail selling price, and is
within the experience indicated by previous and future studies of piano
margins.
Of the 1947 production 72,700 were described by the Bureau of the Census as vertical, uprights or consoles over 37 inches in height. Most of these pianos were generally called spinets. While there are no authentic figures to how many uprights, as distinct from spinets or consoles, were included in this number of 72,700 we in the piano industry know perfectly well that studio uprights, approximately 45 inches high, were made in very small numbers in that year. I would like to make a little wager that there were not 5,000 studio uprights manufactured in 1947. In that same year, there were less than 5.000 grand pianos made.
Therefore; nearly 90% of the pianos manufactured in that year were of the type variously described as spinet. console, or vertical, over half of those vertically strung styles having been instruments that were not over 37 inches high.
Prices in 1947 were the same as the prices during WWII which were "Ceiling Prices" controlled by the U.S. Government O.P.A. [The Office of Price Administration]. They determined the maximum price a dealer could sell a product for. It worked very well with pianos and there was only one price for a Piano - and that was what everybody paid. It was not judged as "price fixing", a term later applied to piano prices.
THE BEGINNING OF MODERN STYLING
In 1935 a regular 3 ft. 9 in. upright piano was put into a new style case. This became known as the spinet and was very dainty looking compared to the old bulky upright. This new style immediately caught the public's fancy. All piano manufacturers followed with similar and widely divergent designs. Soon more different styles were available to the piano buying public than ever before.
The 3 ft. 9 in. high pianos were as small as could be built with existing actions and even these had cramped knee room. To make pianos smaller new actions had to be devised. Almost all pianos manufactured then used either the compact direct action or the drop action both of which were invented in 1935.
In 1936 Baldwin introduced the Acrosonic Spinet piano which was to become the largest selling piano type of all time, the single most popular instrument in the world . . . While in 2005 it is no longer manufactured. It is still the most popular, most sought after used or "beginners" - "student model", and those still in use number over 1 million. It is also the most recommended used instrument by piano teachers everywhere. Next to the Steinway, the Baldwin Acrosonic Spinet Piano has the highest appreciation in value of any piano in its class.
MANUFACTURE'S MAXIMUM PRICES SMP
When the piano known as the spinet type came into the market in 1935, with new engineering and styling, the public had its choice of conventional upright pianos, grand pianos of all sizes and new spinets. All these types were shown side-by-side in a wide variety of prices, and of course in different grades or qualities. At that time the lowest priced types made for the mass markets were studio uprights, approximately 3 feet 9 inches high. The highest priced types, in the popular-priced field, were the new spinets, consoles as many called them at the time. The in-between price was the small grand produced by makers seeking the mass market. The public, by its purchases, decided that the new types were the most desirable.
FROM CARDBOARD TO CONCERT GRAND
Every skilled pianist knows perfectly well that the finest small grand is totally inadequate for concert hall purposes, and you'll never hear a concert pianist perform on any vertical. Take the automobile for example. The most popular cars in America are wholly adequate for their purpose. But if someone wants a car that will take them 200 hundred miles an hour they must buy something that might be compared to the concert grand piano.
A professional pianist in his concerts would never play anything short of a 9-foot concert grand. Thousands of children successfully started their piano lessons in the 1930s and 1940s on cardboard keyboards with no tone or touch at all. As a matter of fact, that's the keyboard that I learned on.
By 1941 the old vertical or "upright" piano was being turned out almost exclusively in the spinet design, and the change increased its value as a decorative piece of furniture, if nothing else: the new spinet pianos had cleverly designed, compact, type cases 36 to 38 inches tall.
Unfortunately, decreasing the size of the upright pianos meant decreasing the size of the sounding board and shortening the strings, which was totally unacceptable to many purists, technicians, and teachers. The result was a controversy that still lingers 70 years later.
According to the experts, the tone of spinet model pianos tends to be slight and more or less "wooden." Consequently, spinets were never recommended for purchase for serious students or by competent pianists. Because of the shorter string length above the hammer, the striking position of a hammer in an action of spinet pianos 38 inches and less must necessarily be indirect. That is, when a key is struck, it does not force the hammer against the string; there is a delayed striking action. Since this may be objectionable to some players, the lower spinets are generally less desirable than the 39 inch-or-higher models which make use of a direct striking action.
THE TRUTH IS
Regardless of the shortcomings of the spinet piano, they were still better than the cardboard keyboard with no sound at all or today's electronic keyboard that plays that has no control of loud or soft.
There are millions of used spinets throughout this country that are still capable of providing adequate service at an affordable cost. The Piano Manufacturers will not endorse this fact, because they want to sell new pianos. Piano dealers and sales people make less money on used pianos. Many piano technicians don't like them because the are harder to tune and some of the actions used must be adjusted to keep the keys level.
There have been several books and publications over the years which have attempted to recommend the right piano for consumers, but knowledgeable artists, teachers and technicians all have their own subjective reasons for their choice. It is difficult to rely on any one source to help you choose the right piano for you.
The following statement was written by a well known piano teacher:
"You need a piano. Books have been written on the subject, and opinions thrown about like hay seed. Whom can you trust? What can you believe? What can you depend on? The answer is simple! You can trust yourself, depend on yourself and believe yourself "if" you have the ability to recognize a truly "good" piano. It really isn't all that difficult."
"In short, the "best" piano is the one that is most capable of producing beautiful, expressive musical performance; the kind of performance that can evoke an emotional response from the listener. The best performances exhibit sensitivity in the sound and the touch of the piano. More simply "a good piano sounds good and feels good."
Kenneth Wayne Land
Any first class console or studio upright piano is an excellent musical instrument, and will outperform and outlast an inexpensive, small piano spinet, grant it, that is if you wish to play a concert. But a spinet piano will still provide endless hours of fun if that is the purpose of having a piano in the "family room". These are accurate "retail" prices of pianos in 1957 these were the "fair trade" prices set by each factory and honored by all retailers nationwide before the term "price fixing" was created. Any of these pianos 53 years old in good condition are worth much more today as used pianos.
GROUP I
The pianos listed in Group I includes the top pianos of unquestioned merit and the most expensive you could buy. These were the very best and the most popular brands and sizes by far.
|
BRAND NAME |
SPINET |
CONSOLE |
STUDIO-UPRIGHT |
GRAND |
| Steinway & Sons |
$1,495 - $1,700 |
$1,375 - $1,700 |
$2,790 - $5,100 |
|
| Mason & Hamlin |
$1,370 - $1,695 |
|
$2,945 - $4,695 |
|
|
Baldwin |
$1,030 - $1,195 |
|
$2,675 - $4,625 |
|
| Knabe |
$1,120 - $1,410 |
|
$1,980 - $3,330 |
|
| Chickering |
$1,070 - $1,320 |
|
$1,940 - $3,320 |
|
| Sohmer |
$955 - $1,325 |
|
$2,040 - $2,590 |
|
|
Acrosonic by Baldwin |
$884 - $1,095 |
|
|
|
GROUP II
Group II includes pianos of excellent quality in a medium price range.
|
BRAND NAME |
SPINET |
CONSOLE |
STUDIO-UPRIGHT |
GRAND |
|
Story & Clark |
$695 - $995 |
$755 - 860 |
$845 - $875 |
|
|
Krakauer |
|
$1,095 - $1,595 |
$1,125 |
|
|
Jesse French |
$495 - $695 |
$825 - $1,020 |
$840 - $890 |
|
|
Janssen |
$595 - $795 |
$795 - $1,120 |
|
|
|
Everett |
$810 - $1,010 |
$1,030 - $1,195 |
|
|
|
Kimball |
$750 - $780 |
$695 - 1,045 |
$750 - $800 |
$2,115 - $2,660 |
|
J & C Fischer |
|
$840 - $916 |
$830 - $840 |
$1,490 - $1,620 |
|
Gulbransen |
$550 - $995 |
$695 - $1,050 |
$825 - $925 |
$1895 - $1,995 |
GROUP III
Group III includes pianos generally in a lower price but capable of giving satisfactory service.
|
BRAND NAME |
SPINET |
CONSOLE |
STUDIO-UPRIGHT |
GRAND |
|
Winter Musette |
$585 - $975 |
|
|
|
|
Wurlitzer |
$495 - $695 |
$725 - $1,195 |
$715 - $745 |
$1,745 - $3,685 |
|
Hobart M. Cable |
$595 - $695 |
$645 - $795 |
|
|
|
Kranich & Bach |
|
$995 - $1,190 |
|
$2,065 - $2,495 |
|
Cable-Nelson |
$535 - $740 |
|
|
|
|
Kohler & Campbell |
$715 - $765 |
$735 - $895 |
$795 - $830 |
|
|
Cable |
$725 - $825 |
$810 - $910 |
$845 - $880 |
$1,795 - $1,995 |
|
Estey |
$745 - $945 |
$795 |
|
|
|
Lester Betsy Ross |
$650 - $900 |
$850 - $1,100 |
|
|
Personal preferences in tone and touch, style, budget and size all play a part and are extremely subjective. Each piano maker has its own unique features and points of excellence and value. The purpose of this guide is to give you the best consumer information to help you make your own decision.
CONSUMER INFORMATION REPORT Grand Pianos
B. INTERMEDIATE
Vertical
Pianos "School" - "Studio" - "Professional"
B. INTERMEDIATE
Vertical
Pianos "Consoles"
B. INTERMEDIATE
Vertical Pianos "Spinets"
B. INTERMEDIATE
B -
New -
Used - Pianos - Grand Pianos - Upright Piano - Spinet Pianos- Console Pianos -
Studio Piano
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 "Over 10 Million Copies in Print" |
Piano
Times"Time to Buy a Piano" |
 "A Piano Consumer Advocate Newspaper" |
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| Please Note: U.S. employment, piano producers shipments and industry profitability all declined during 1978-82. This falling market coincided with demographic changes and a severe recession. Dealers advertised wild and exaggerated claims of discounts in the 50 to 70% off range. The Piano Times was an effort to stem these reckless claims by publishing legitimate retail prices of all pianos on the market at that time. The following is an example of that effort. Distribution 1.2 million in the Los Angeles Area. | ||||
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Left Side: Piano Times Listing of all Piano Prices sold during 1983. The formula used to compile the retail prices were based on "Keystone" or fair trade prices during 1983. That is the cost of the instrument, add the freight and double the total. This is would then be a 50% margin plus destination charges. Rarely did a dealer sell pianos at these prices. According to figures released by the Bureau of the Department of Commerce the weighted average margin of profit was between 38% to 42% over a period of over 50 years. Picture
on Right Side: Piano times issue showing the average Fair Trade Price of
Grand Pianos between 1985 and 1995. Also known as "Fair Market
Value" in accounting terms. These prices are certified through documentation by the United States Chamber of Commerce and statistics published in the Music Trades Magazine and by The National Piano Foundation. A not for profit organization. |
 |
|
1981 Chart of Pianos and Prices |
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Vertical Pianos
|
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| GROUP I | SPINET | CONSOLE | STUDIO |
| Baldwin |
$1,895 to $2,695 |
$2,295 to $2,852 |
$2,495 to $2,852 |
| Chickering | $2,995 to $3,484 | ||
| Everett | $2.645 to $2.945 | $2.395 to $2.920 | |
| Kawai | 52.595 to $2.920 | $2.650 to $4,040 | |
| Knabe |
$3.295 to $3.682 |
||
| Kohler & Campbell |
$1.586 to $2.120 |
$1.884 to $3.152 | $2,194 to $2.390 |
| Mason-Hamlin | 3.696 to $3,864 | $4.195 to $4.550 | |
| Sohmer | 2.895 to $3,795 | $2,795 to $3,280 | |
| Steinway |
$4.050 to $4,850 |
$4,200 to $4,600 |
|
| Yamaha | $2,595 to $3,140 | $2,650 to $4,045 | |
| GROUP II | |||
| Cable | $1.695 to $2,195 | $1,845 to $2,165 | $1,975 to $2,200 |
| Currier | $1,595 to 51 ,795 | $1,795 to 51,995 | |
| Kimball | $1,720 to $1 ,900 | $1,990 to $3.070 | $2.120 to $2,450 |
| Kranich & Bach | $1,695 to $2,195 | $1,845 to $2,165 | |
| Lowery | $2,350 to $3.140 | ||
| Story & Clark |
$2,120 to $2.975 |
$2,240 to $3,175 |
|
| Winter |
$1.695 to $2.195 |
$1.845 to $2,165 |
$1,995 to $2,220 |
| Wurlitzer |
$1,744 to $2.258 |
$1,920 10 $2,854 |
$2.216 to $3,250 |
|
GROUP III Bradbury. Cable. Hammond. A.B. Chase, Jesse French. Gordon Laughead. Grand Piano Company. Kincaid, Hallett & Davis. Harrington, Hobart M. Cable, Howard. Ivers & Pond. Mehlin & Son. Henry F. Miller. Poole. Shonlnger. Sterling. Whitney. Whitmore and another 50 stencil names. Prices should run between $1.195 and $1.495 for these. Prices shown will vary in different parts of the country and are approximate based on available information. Opinions of merit or quality are those of the author who is solely responsible for the content of this article.
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Grand Pianos
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| GROUP I | |||
| BRAND NAME | SIZES | 1971 PRICE RANGE | 1981 PRICE RANGE |
| Baldwin |
5'2" to 9' |
$3.018 to $7.700 |
$9.628 to $21.492 |
| Kawai |
5'1" to 9'2" |
$1.695 to $6.250 |
$5.970 to $19.040 |
| Knabe |
5'1" to 9' |
$2.300 to $6.550 |
$7.236 to $20.456 |
| Mason & Hamlin |
5'4" to 8'11" |
$3.200 to $6,900 |
$9.746 to $21,236 |
| Sohmer |
5' to 5'7" |
$2.545 to $3.700 |
$8.022 to $8.922 |
| Steinway |
5'1" to 9' |
$3.325 to $7,500 |
$11.420 to $24.456 |
| Yamaha |
5'3" to 9' |
$1,695 to $6.195 |
$5.136 to $20.338 |
| GROUP II | |||
| Aeolian/ American | 5'1" | $2.390 to $2.990 | $5.250 to $5,850 |
| Cable | 5'1" | $2.390 to $2.990 | $5.250 to $5,850 |
| Kranich & Bach. | 5'1" | $2.390 to $2.990 | $5.250 to $5,850 |
| Hardman,Peck | 5'1" | $2.390 to $2.990 | $5.250 to $5,850 |
| Henry A. Miller | 5'1" | $2.390 to $2.990 | $5.250 to $5,850 |
| Winter | 5'1" | $2.390 to $2.990 | $5.250 to $5,850 |
| Chickering | 5'1" to 5'8" | $2,560 to $3.240 | $6,775 to $7.550 |
| Kimball |
5'8" |
$2,500 |
$6.880 |
| Kimball | 4'5" to 6'7" | $5,180 to $9,335 | |
| Kohler & Campbell | 5' to 6' | $6.232 to $7,732 | |
| Wurlitzer | 5'2" | $8.342 | |
|
Prices shown
will vary in different parts of the country and are approximate based on
available information. Opinions of merit or quality are those of the
author who is solely responsible for the content of this article.
|
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|
1991 Chart of Pianos and Prices |
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Vertical Pianos
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| GROUP I | SPINET | CONSOLE | STUDIO - UPRIGHT |
| Astin-Weight | $4,500 to $4,650 | $6,500 | |
| Baldwin |
$3,450 to $3,795 |
$3,850 to $4,195 |
$3,600 to $6,950 |
| Kawai | $3,875 to $4,790 | $4,770 to $7,200 | |
| Mason-Hamlin | $11.800 | ||
| Sohmer | $4,500 to $4,950 | $4,800 to $5,225 | |
| Steinway |
$7,250 to $8,640 |
$8,650 to $12,500 |
|
| Walter, Charles R. | $5,200 to $5,675 | $5,990 to $6,400 | |
| Yamaha | $3,600 to $5,020 | $4,860 to $7,800 | |
| GROUP II | |||
| Everett | $2,850 to $3,200 | $3,500 | |
| Kimball | $2,460 to $2,760 | $2,670 to $3.300 | $5,500 to $5,860 |
| Samick | $2,650 to $3,995 | $3,350 to $5,400 | |
| Schafer & Sons |
$3,120 to $3,850 |
$3,650 to $4,660 |
$4,500 to $10,900 |
| Sojin |
$2,950 to $3.875 |
$3,400 to $5,200 |
|
| Tadashi | $5,100 to $6,200 | $5,800 to $6,550 | |
| Weber | $3,100 to $4,400 | $4,255 to $5,480 | |
| Wurlitzer |
$2.295 to $2.695 |
$2,665 to $3,990 |
$3,970 to $5,200 |
| Young Chang |
|
$2,850 10 $4,850 | $3,995 to $5,195 |
|
GROUP III
Becker, Blessing, Handok, Hastings, Hanover, Hinze, Hohner, Hsing, Hai, Hyundai, Jasper-American, Maeari, Nieer, Pearl River.
Prices shown will vary in different parts of the country and are approximate based on available information. Opinions of merit or quality are those of the author who is solely responsible for the content of this article. |
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Grand Pianos
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| GROUP I | 1971 | 1981 | 1991 | |
|
BRAND NAME |
SIZES | PRICE RANGE | PRICE RANGE | |
| Baldwin |
5'2" to 9' |
$3.018 to $7.700 |
$9.628 to $21.492 |
$14,600 to $36,400 |
| Falcone | 6'1" to 9' | $19,500 to 41,300 | ||
| Kawai |
5'1" to 9'2" |
$1.695 to $6.250 |
$5.970 to $19.040 |
$10,250 to $38,550 |
| Mason & Hamlin |
5'4" to 8'11" |
$3.200 to $6,900 |
$9.746 to $21,236 |
$16,656 to $37,300 |
| Sohmer |
5' to 5'7" |
$2.545 to $3.700 |
$8.022 to $8.922 |
$12,500 to $15,200 |
| Steinway |
5'1" to 9' |
$3.325 to $7,500 |
$11.420 to $24.456 |
$18,500 to $4,8750 |
| Yamaha |
5'3" to 9' |
$1,695 to $6.195 |
$5.136 to $20.338 |
$11,453 to 44,594 |
| GROUP II | ||||
| Howard | 4'9" to 5'8" | $5.250 to $5,850 | $6,500 $7,995 | |
| Kimball | 4'5" to 6'7" |
$2.500 to $3.240 |
$6,775 to $9,335 | $$7,800 to $14,685 |
| Samick | 5'2" to 9' | $3,995 to $18,200 | $9,650 to $32,600 | |
| Schafer & Sons | 5'2" to 9" | $1.895 to $4,500 | $4,995 to $22,800 | $9,018 to $37,900 |
| Sojin | 5'2 " to 9' | $6,995 to $28,995 | ||
| Wurlitzer (Korea) | 5'2" to 5'10" | (5'2") $8.342 | $7,200 to 8,770 | |
| Young Chang | 4'11" to 9' | $6,080 to $11,600 | $$6,900 to $29,800 | |
| Becker, Blessing, Handok, Hastings, Hanover, Hinze, Hohner, Hsing, Hai, Hyundai, Jasper-American, Maeari, Nieer, Pearl River. Prices shown will vary in different parts of the country and are approximate based on available information. Opinions of merit or quality are those of the author who is solely responsible for the content of this article. | ||||
|
Robert T. Furst Founder & Executive Director |
CONSUMER INFORMATION GUIDE
JANUARY 2010
Available Now!
