Almost every pianist wants to have the Steinway piano to play during their journey. The reason is these pianos are the best existing today. However, their price is high but is affordable for rising pianists. So, how much is a Steinway grand piano to be bought or sold out?
The price of any instrument depends on its quality and performance. A brand with popularity in the industry like Steinway is somewhat expensive. But it also depends on some other factors and should be considered.
If you want to buy a new piano, the price will be higher. However, if you’re going to sell an already existing piano, you will give a gap of some bucks. We will discuss both the price of a new and used piano.
As Steinway pianos come in different models and sizes and hence, the price varies accordingly. To get the right price for Steinway piano, stay with us till the end. Let’s jump into further discussion on how much does a Steinway piano cost.
What Factors Specify the Value of Piano?
As we mentioned earlier, pianos (Steinway) prices depend on several factors, including the design, size, model, and condition.
1. Design and Finishing:
Pianos come in different designs, which are separated from each other based on their finishing. This is a significant factor that creates thousands of dollars difference in price. Let us take Steinway D piano as an example.
The Steinway D model has two designs, one polished in Ebony or Satin finish, and the other is polished with Mahogany finish. Just due to this finishing difference, the price varies up to $30,000. The former model costs around $171,100 while the latter is sold at $200,000.
If you want a model that has a unique finish, you will have to pay more. These finishes include white or engraving and the most expensive Indian Rosewood and Dark Cherry. So, you get different prices for different models depending on the finish.
2. Entire Size:
Another striking factor that influences the piano price is its size. The final cost of your Steinway piano can be estimated from its size. If the instrument is big, it means that more material is used in manufacturing. So, the price will be high in comparison to the small piano.
Moreover, the action parts are numerous in bigger piano, and its performance is also enhanced with multiple features. They will offer extra tone and will look attractive than other pianos. Simply, you can say that bigger pianos cost more.
Note that sometimes, a small piano also costs higher than the bigger one. But it depends on some other factors, including the brand name, design, condition, and performance. In the case of Steinway, you can face this dilemma.
3. Current Market Value:
The price of new Steinway pianos keeps changing up to notable value, but the price has a lower impact for used Steinway pianos. But if the cost of new Steinways increases, the price of used Steinways will also increase.
For selling a used Steinway piano, you will get a percentage of the corresponding model. New models can be sold for a higher price, while old models will give you little bucks. For instance, a 2004 Steinway B model is worth up to $50,000, and that of recent models is up to $110,000.
Still, the antique piece in the market that is an older model can cost much higher. For example, a 1950 Steinway B is worth about $60,000. This is related to the choice of a pianist, and thus the price is more.
4. Piano Condition:
Condition is the most important factor that makes a greater impact on the price of every piano, including Steinway. Although Steinways are the best brand of pianos, if not maintained well can lose their value.
A new Steinway piano that has no ownership in the past is tuned and gives the best performance as needed. This is why you have to pay every asking price. So, for beginner pianists, buying a new piano for starting their journey is challenging.
Every used Steinway piano forces you to think before you get into the deal. You will confuse when you contact the 1998 model in good condition and the 1920 model in awful condition. Now, how much does a Steinway piano cost? Let’s discuss each by their models and sizes.
Price Based on Model and Size
The cost of a new 5 foot and 1 inch Steinway S piano at this time is $69,700. Smaller Steinways of the models, i.e., A, B, L, M, O, cost from $74,300 to $129,000. However, larger Steinway pianos such as the 9 feet model D cost about $170,000.
In the case of used Steinways, the average price drop by some percentage. You can compare the price based on the performance. The seller will charge you 46% to 48% of the original price of a piano old by 10 to 15 years.
We are not going to put a long list of pianos and their model. You can estimate the prices based on the above calculations.
Well! That’s all about how much is a Steinway grand piano till now. The price of a new piano does not matter, and you will get it at the market price. But for a used piano, whether you are selling or buying, you can get the right price by keeping the above factors in mind.
If you are selling your piano, don’t think you are selling it to an expert pianist with a good budget. The person buying used piano could be a beginner and will need a reasonable price. So never demand a price that is not affordable for the buyer.
Moreover, if you are buying a used piano, stick to the factors we explained above. Do proper research before buying and purchase from the trustable and right place. You will get the perfect piece in your available budget from anywhere around you. Best of Luck!