Value of Instruments
By Stephen Kent Goodman
In response to Don Teach's comments on Nelson-Wiggen values:
I am not an expert on the valuation of Automatic Musical Instruments, nor does my small grouping command entire garages of space, even if I did trust my neighbors and their insurance policies. When I am asked my opinion I try to reference it against instruments I have bought and/or sold, or transactions I can personally verify. I am not thrilled either that the market has been soft -- and future prospects look even more dismal as the stock market surges and interest rates are relatively low.
My $7,000 comment regarding a N-W Style 5 (which admittedly is indeed a very rare orchestrion) is what I would be willing to pay. This is in light of the fact that a nice original 4X was purchased from a Chinese restaurant owner in a small central California town for $1500, rebuilt (not completely restored), and sold for $4500. Recently, an ad appeared for an upright reproducing piano, a Welte Licensee, in "original" and playing condition with a large roll library for $2500. It did not sell even at $1,000!
I propose that the MMD have a special section where verified sales (perhaps by both buyer and seller) be recorded as an up-to-date and fair record of actually transacted prices of instruments. Since there are so many variables, just like antique auto purchases, as many details as possible should be included. (Is the motor, coin mechanism, drums, etc., original or new replacements? What is the cabinet finish & parts, glass, overall piano condition, et al?)
[ Send us the value and we'll publish it. -- Robbie ]
I recently bought an instrument which was advertised for $300 as simply being "a basket case player piano". It turned out to be a completely original Milton Invisible Player of 1916-1917 vintage with beautiful quartered-sawed oak; a gem in outstanding condition except for needing refinishing and standard pneumatic rebuilding. (The stack and lower unit were removed for stripping of the case, and the former owner considered that to qualify it as a "basket case!")
So it is difficult to ascertain what an instrument _is_ worth -- much less what it _should be_ worth -- from just a casual description, like a serial number and brand name.
The point is: "How much are you asking for it?" and "How much am I willing to pay you for it?" I bought my Western Electric Mascot (an A-roll nickelodeon like a Seeburg "L") for $500 from the son of the original owner -- that's how much he wanted for it. I couldn't pay much more at the time, he didn't ask any more for it. So what is it worth?
S. K. Goodman
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(Message sent Sat 18 Jan 1997, 18:14:07 GMT, from time zone GMT-0500.) |
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