Do digital pianos lose their value?

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Glen Conn asked a question: Do digital pianos lose their value?
Asked By: Glen Conn
Date created: Wed, Mar 17, 2021 10:28 PM
Date updated: Tue, Jun 28, 2022 11:11 AM

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Top best answers to the question «Do digital pianos lose their value»

The fact is, digital pianos over a few or many years can depreciate in a big way and they can also wear out and deteriorate. Also, older digital pianos just don't hold high values and in fact may be almost worthless especially in comparison to many of the newest lower price digital pianos.

FAQ

Those who are looking for an answer to the question «Do digital pianos lose their value?» often ask the following questions:

❓ Do pianists tune their own pianos?

Since pianists are busy logging their thousands of hours of playing the instrument, they're okay with paying for occasional piano tuning, in the same way that other musicians shell out for repairs for their beloved personal instruments.

❓ Do pianos appreciate in value?

Grand pianos generally appreciate more than verticals, and higher quality pianos increase more in value than less expensive ones. While Steinways tend to go up in price the most, many others also appreciate or at least hold their value.

❓ Do pianos depreciate in value?

From a financial perspective (excluding instruments with special historical or artistic value), pianos are a depreciating asset. They depreciate quickly for the first few years and then slowly thereafter. They may eventually appear to appreciate in value, but the appreciation is entirely due to inflation.

❓ Do pianos hold their value?

From a financial perspective (excluding instruments with special historical or artistic value), pianos are a depreciating asset. They depreciate quickly for the first few years and then slowly thereafter. They may eventually appear to appreciate in value, but the appreciation is entirely due to inflation.

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You can scar your fingerprints with a cut, or temporarily lose them through abrasion, acid or certain skin conditions, but fingerprints lost in this way will grow back within a month. As you age, skin on your fingertips becomes less elastic and the ridges get thicker.

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Historically, there are no really famous pirates missing either legs or hands. Pirates who lost limbs in the course of their work were paid a benefit out of the ship's operating fund so they could retire comfortably… So hook hands, peg legs, and eye patches are associated with pirates simply because they could be.

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10 other answers

Pianos, in general, are notoriously bad for holding resale value. Digital pianos tend to fare worse than acoustic ones due to older models having outdated tech and sound quality. However, they do manage to maintain their subjective value providing more satisfaction and enjoyment than many other instruments.

Because piano dealers need to protect the sale, most pianos immediately lose their value after being purchased. The drop in value is substantial, often ranging between 670 – 75% within just 2 – 3 years of the initial purchase.

Typically, pianos lose value up to 78% of their original purchase cost. Depreciation starts in the first year of purchase. In the succeeding two decades, the cost of pianos continuously declines until it reaches 40% of its buying price. This is the maximum depreciation value.

Pianos typically depreciate to 78% of their value in the first year alone. After this, you can see it slowly continues to decline for 20 years, reaching its final number of 40% of its original value. As you can see, after the first couple of years, pianos will depreciate by about 5% per year.

They will lose at least a 1/3 of their value once you “take it off the lot”, and depreciate from there. The reputation of the brand may slow depreciation a bit, but certainly never eliminate it. The piano will develop buzzes, clicks, clacks, taps, and other annoying deficiencies.

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US sales of digital pianos, on the other hand, have gone up 50% in the same period.

While digital pianos are electric instruments with fewer elements that can break or wear out compared to acoustic pianos, there will still be some mechanical wear and tear, and your digital piano may need a repair eventually.

Many value a classic or antique acoustic piano but can that be said for their digital counterparts? A lot of us grew up with a digital piano in the...

Your Answer

We've handpicked 6 related questions for you, similar to «Do digital pianos lose their value?» so you can surely find the answer!

What is the best value digital piano?
  • 1) Roland FP-10 – No-frills, yet arguably the best piano playing experience.
  • 2) Yamaha P-45 – Yamaha's best-selling beginner digital piano.
  • 3) Casio CDP-S100 / Casio CDP-S350 – Slim and very affordable.
  • 4) Korg B2 – Stylish piano with a powerful sound and minimal features.
When did weber pianos get their royal warrant?
  • Some of the many awards and recognitions the company had received were the Philadelphia Centennial in 1876; at the American Exhibition in London, in 1887, and at the Paris Exposition in 1889. Around 1883 King Alphonso XIII of Spain bestowed the Royal Warrant to Weber and made it the official piano manufacturer of the royal family of Madrid.
Which digital pianos can be controlled from an iphone or ipad?
  • The IOS version 2.0 makes piano playing smarter than ever before. In addition to the Clavinova CSP series digital pianos, users can now also control the Clavinova CLP series models, the Arius YDP-S34, the P-125 portable piano, as well as the AvantGrand NU1X and the AvantGrand N3X from their iPhone or iPad.
Which pianos hold their value?

Quality uprights by Yamaha, Steinway, and Kawai generally sell for more. A quick Google search of your piano model can show what comparable sales would look like. Grand pianos hold more value, however, lower quality models lose their worth just as fast as uprights.

Why are people giving away their pianos?

Sometimes these pianos are real gems; they'll tune up nicely and play well… However, often a giveaway piano is given away because it hasn't been played in years or the owner knows that it is need of some repairs and is not interested in putting any money into it.

Why do limited edition pianos hold more value?
  • Depreciation charts generally account for normal wear and tear. Limited edition instruments also tend to hold their value or appreciate over time. This is because there is a smaller number of those pianos in production. Pianos that also have unique components in them or special finishes and engraving will also hold more value.