This is for general advice only, and covers the spectrum of most, but not all pianos. Value greatly depends on make, condition and cabinetry of the piano. Younger full size uprights are generally considered Professional Uprights, and some makes and models can be sold for top dollar.
Young Pianos (Under 30 years old)
What is a “young” piano? Think of a piano like a person. A 30 year old should be in great shape, all things being equal. If you have a piano that is 30 or younger, you can usually get a good idea of what it may be worth by doing an on line search for other pianos for sale similar to your own. Google the name, model number (if you have it) and the approximate year it was made. The dealer sites will be most likely asking top dollar and include shipping, tuning and/or a guarantee. If the piano in question has been maintained properly, there should be a piano technician who can verify it’s condition. If the piano has been poorly maintained, the cost to bring it back to mint condition has to be factored in to the Piano’s overall value. (This is why maintaining a piano properly can easily pay for itself over the years)
The Formula for older pianos 50 – 100+ years old.
When an older piano is appraised, the value is more about cost of repair less what it would sell for in mint condition. This varies with name brands, but most older uprights in poor repair are not worth much as is.
$$ How much the piano could sell for in mint condition $X.XX
Less the cost of getting the Piano into mint condition -$X.XX
Equals the estimated Wholesale value……………………….$X.XX
Multiplied by 2 or 3 = The estimated Retail Value……….$X.XX
Wholesale Value = What a Piano Dealer might be willing to Pay
Retail Value = What a Retail Buyer (End User) might be willing to Pay
The value of younger Pianos (up to 30 or 40 years old) will have more to do with the Name of the Manufacturer. Do an online search of the name brand and age of the piano.
If you need more information as to how to determine the condition, CLICK HERE