After this, you can see it slowly continues to decline for 20 years, reaching its final number of 40% of its original value.Īs you can see, after the first couple of years, pianos will depreciate by about 5% per year. Pianos typically depreciate to 78% of their value in the first year alone. These are approximations that assume certain wear & tear over time. This table below shows how much the piano is worth from its original price on average. This is typically because they are usually in much worse condition. Note: Used pianos depreciate much faster than newer pianos. Now that we have an idea for why pianos depreciate over time, let’s take a look at just how much below. *Selling a piano to a dealer is never going to amount to anything close to what you paid, it’s more of a convenience thing as they will come and pick it up for free and perform the necessary maintenance. I’ve labeled it with numbers to mark the importance of each. Here is a list of factors that will cause your piano to depreciate. With this being said, you can still resell your piano to a buyer for a similar price if it was taken care of. Piano dealers, just like car dealers, need to turn a profit.Įveryone knows that as soon as they drive the car off the lot, it’s going to depreciate.
If you’re curious as to why your piano depreciates, it’s very similar to buying a car off a dealer lot.
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