If you have an old piano and you are ready for an upgrade or you simply no longer need it, selling can be tricky. You want to get the most out of the deal but you may also be in a slight rush to sell. So, before you put your piano on the market, there are a few important points to consider.
When you look at your piano, be objective. Take note of any physical damage that can distract the buyer from the quality of the sound. When a piano looks worse for wear, it will automatically result in a lower value. This is not only applicable to pianos but everything that we buy and sell. The better you look after your piano over the years, the more chance of it retaining value.
The brand will also play a significant role in determining the asking price. Even when buying a new piano, the brand will be one of the main price factors. So, it should go without saying that a well-known and sought-after brand will fetch a higher price than a cheap brand. In most cases, buyers actually look for particular brands based on what they have heard, read or even past experiences with the brand. If the brand has a bad reputation, it can be tough to sell your used piano.
Age and Condition
Extremely old pianos can be considered antiques and this makes them particularly valuable. Especially if they are properly maintained. In most cases, a piano has a lifespan of up to 60 years so, if you have a very old piano, you might not be able to find an eager buyer. Even if the piano sounds fine to you, there could be some underlying problems of which you are unaware. If your piano is a few years old, depreciation is always a factor. Your piano could be in perfect condition but depreciation will always occur no matter what you do.
Cost of restoration
Used pianos often require some form of restoration in order to get them back into top condition. The amount of restoration will depend on the damage or wear and tear that has occurred. The cost of restoration will impact the value of the piano since the buyer will need to pay these costs after the purchase.
Where to sell
Once you are ready to sell your piano, it’s important to choose the right selling platform. If you try to sell your piano yourself, time is usually the greatest obstacle. Your piano could be listed for months without a single potential buyer. Even if you do find a buyer, transport is often a major concern given the size alone. When selling your piano to a dealer, you can expect to sell it quickly and for a fair price. In addition, transport will be far easier to arrange when selling your piano to a local dealer.
Another option worth considering is trading your old piano in for a newer model. By doing so, you can get a beautiful new piano while making a minimal investment. It works a lot like trading in a car. The value of the older model will be deducted from the value of the new purchase and you will only need to pay the difference.
Given the fact that your pianos have a particular lifespan, it is important to upgrade sooner rather than later. By upgrading your piano regularly, you will not need to worry about reaching the point at which your piano will no longer prove financially viable to trade-in. To find out what your piano is worth and for more information on selling or trading in, contact Universal Piano services at (416) 230-5560 today. We are available 7 days a week for your convenience and we have been in business for over 35 years. Our experience and dedication to our customers are what set us apart from the rest.