It is difficult to place a value on a piano without knowing whether you
mean its value for sale at retail or at wholesale, its value for
replacement (as for an insurance policy), or its value for dividing an
estate.  For a piano that's to be sold, the value must take into
account certain considerations:

1.  Where is it stored?  A piano on the street floor in an accessible
room is worth more than a similar one on a higher floor (if there is
not a good elevator), and much more than one that's been ruined by
storage in a damp basement or a mouse-infested barn.

2.  How fast do you want to get rid of it?  Pianos sell slowly.  You
can usually get more money if you are prepared to wait several years
for someone to fall in love with it.  At quick sale, an untested piano
is worth $50.  If you're in a _real_ hurry you may have to hire
somebody for $50 to haul it away.

3.  What does it look like?  Ornate carving, an excellent and undamaged
finish, and a small appearance generally increase the value.  Plain
lines, a coat of green house paint over peeling veneer, or an over-
whelming size that would make a Clydesdale horse appear a better fit
in the living room all reduce what a purchaser might want to pay.

4.  Is it a player piano?  Player pianos draw from a separate set of
purchasers (player piano nuts like me) who have unusual criteria for
judging pianos.  Players are often slightly larger and heavier than
their non-player cousins.  People who are not fascinated by player
pianos generally consider the player mechanism a liability, not an
asset.

5.  What does it sound like and how well does it play?  This aspect can
be surprisingly unimportant.  Serious purchasers who actually know how
to play piano might be aware that an old piano can need $1000 to $4000
of rebuilding, and they'll reduce what they pay you accordingly.  Those
looking only for furniture won't care at all about the sound, or may
even prefer the "soft and mellow" tone of a broken bass bridge.

Don't invest money in fixing a piano before you try to sell it!

Peter Neilson