What would you with a piano that you cannot sell for a year

Khuja Wangtishvili

I am looking for a used pianos market and have few observations:

Well known instruments sell faster
negotiations are personal things and completely dependent over the seller
there are people who will sell their piano for years in order to get their price

As I am looking last times for a used Schulze Pollmann 126 from years 1995-2005, I notice that they are selling for a year or even longer. The longest one I found is trying to sell his piano for 22 months already. So I asked those people why they cannot sell their price for such a long time, and they told me that they didn't get the offer that they wanted (asking price minus maximum 5% usually). Therefore I wanted to ask you, what would you do in such situation: sell for the market offer price or wait till death trying to sell it?
I am talking about upright pianos worth 2000-6000 euros, mostly being in the 3-4 k range.

Del Vento

Khuja Wangtishvili I am looking for a used pianos market and have few observations:

Your poll cannot be answered because the answer is "it depends" as others have said.

Are you selling or are you buying?

If you are selling: why are you selling? To upgrade? Because you don't play anymore? Because you are moving? Because you are broke and you need the money to feed the kids?

If you are buying: why are you buying? To upgrade? Do you have another instrument you can satisfactorily play on?

Regarding the money, obviously everybody wants to spend as less as possible, but why don't you want to spend more? You don't have it? How about credit? Your significant other will kill you if you spent more or took a loan?

Too many variables to decide the "price strategy" without additional info, but you can find more about what I did as the buyer in my thread about my then-new Mason and Hamlin grand. In short, as a buyer of the piano, the best bargains are gotten buying from a seller who is also selling the house and the kids quit playing and left. They will be desperate to get rid of the instrument because the buyer of the house want it empty, they won't care too much about the price because the house is much a bigger deal financially. They might care sentimentally about the instrument, so you can "please" them by showing that you will love the piano. So if your goal is absolutely minimum price, you have to track the real estate market in your area

CyberGene

When I'm set on selling something, I usually start dropping the price quickly until it's sold, sometimes almost giving it away. I'm not too rich either, it's just a mentality never been obsessed with profits. I sell things because I don't need them anymore and not because I want to make money or minimize loss, which is why I don't care if I lose money, I just want it sold. But people are different and I know people who can't get good sleep for weeks if they lose 2 cents.

QuasiUnaFantasia

I guess it all depends on how badly you need to get rid of the piano, and how badly you need the money from its sale. I've never tried to sell anything, so I don't feel at all qualified to participate in the poll, but I would also find it difficult to answer because of the dependence on need, as just mentioned.

Pete14

I tend not to change/lower the price; that is, unless, I’m truly desperate for the money.

Now, I always give myself a good ‘cushion’ (time-wise), so as to not reach that point of desperation.

Yes, I tend to overprice, and I also lie, “I bought it for my son, but he barely played it, so it’s in like-new condition.”

P.S.

It seems like the “615” is around the corner, so I’d suggest dumping your 515s now!

Khuja Wangtishvili

Pete14 even after two years?

MacMacMac

Dump the 515 you say? Coming from most anyone else that would make sense. But from Pete? Blasphemy!

Pete14

Perhaps I misspoke; I should’ve said “bless some lucky guy by handing him your beloved P-515; then hurry up and dust-off that dusty corner for the arrival of the 615.”

I hear it will be better, the 615, that’s all!

Pete14

Well, I’ve never been confronted with that dilemma: two years of nothing but crickets!

Hypothetically, I might be tempted to lower ever so slightly if, per se, no one shows up for my “everything must go” sales event, but so far it seems like the suckers keep falling for my tall tales, and they keep over-paying me for my highly beaten up gear (which I market as “barely used; in excellent condition”).

Still, I shall consider the person ending up with my P-515 very lucky indeed; despite a few dents, two squeaky keys, three malfunctioning buttons and god knows what else (after two drops from a van in motion, and into coming traffic).

How do I get away with this, you ask? Well, I make sure they never come close the squeaky keys, dents, nor malfunctioning buttons by summing on the art of distraction: “look at my right hand,” I say!

kawafanboi

the harder thing has always been not buying too many gizmos in the first place 😄

huge problem with online shopping.

Khuja Wangtishvili

Del Vento
Ha, very good question.
Fast forward, I was just amazed how it is that there are pianos which are listed for a year or longer, quite young and well looking. And started to talk with the seller. I mainly aim at midrange brands with a mixed history like wilh. Steinberg, Schulze Pollmann, Petrof and Zimmermann.
And the reasons were mostly "I am getting much lower offers than I expect and wait for the proper customer". Again, all for pianos from above brands, maiły for Schulze Pollmann. All of those seller were unwilling to do almost any price adjustment from their list, and all of them are thinking that they have a hold grail and will wait for the "proper customer".
But what amazes me even more is - if I list my piano for 10k, but for 2 years I got offers for 5-7 and there would be only 8 of them, this would be clear sign for me that market is just not accepting my price and I have to adjust to the market condition.
And they all are forgetting that with each year of waiting, value of their piano is going down.

And I do need to buy piano now, I am just slowly finishing my COVID sick leave, so had more than enough free time in last days 😉

BTW I made a very low-ball proposal to a lady selling Ibach piano from 1980, but she told me that local dealer proposed her more looool. But actually I didn't had any big love for this piano, and it would only make sense for me to buy for me very very low price 😉

On the contrary I was talking with other people today which have Schulze Pollmann 117E piano for 2000 listed, we had nice talk before so I wanted to go out as poor man, proposed 1000 (truly expecting that they will refuse!) and they agreed! Oh, and it's such a beauty, made in 1997 in San Marino.

Del Vento

Khuja Wangtishvili On the contrary I was talking with other people today which have Schulze Pollmann 117E piano for 2000 listed, we had nice talk before so I wanted to go out as poor man, proposed 1000 (truly expecting that they will refuse!) and they agreed! Oh, and it's such a beauty, made in 1997 in San Marino.

Congratulations on your new instrument!

Khuja Wangtishvili if I list my piano for 10k, but for 2 years I got offers for 5-7 and there would be only 8 of them, this would be clear sign for me that market is just not accepting my price and I have to adjust to the market condition.

It depends on what you goal as a seller is. For example should I ever put my own piano for sale, it would be on similar terms as those you don't understand: quite a high price and not negotiable. Why? I am quite content to keep it, not selling the house anytime soon, but if I do get lots of money for it, I could put whatever other savings I have and upgrade to something even better (and be killed by my wife, but let's consider that a negligible detail for the sake of the argument 🤣). If I don't get that money I can't update, so it's a moot point selling at a lower price.

Of course other people may have different reasons for selling, but still the same non-negotiable, I don't care waiting for years result.

QuasiUnaFantasia

Khuja Wangtishvili And they all are forgetting that with each year of waiting, value of their piano is going down.

But also, each year the value of money is going down (because central banks allow inflation of the money supply).

HZPiano

Khuja Wangtishvili piano from pić is not yet purchased. It's definitely good price, piano it top notch and have been barely played, hammers ale looking like new. The only concern I have is a resale value

Khuja Wangtishvili proposed 1000 (truly expecting that they will refuse!) and they agreed! Oh, and it's such a beauty

Hello,

Are you buying to enjoy that instrument, or for the resale value?

Do you love it and want it?

STOP thinking and go get it!! Now!!

Maybe, if needed, have it inspected/assessed by a good technician before making the final purchase.

Cheers and a happy new beauty,

PS Think of what 1000€ buys you on the digital side of the piano realm. Next to nothing! No real instrument at all! Just some plastic and mass-produced electronics. And then you could have… this beauty… How's that for a value comparison.

Khuja Wangtishvili

Del Vento
Ahh yes ok but your grał is sell to upgrade. Other people I have been talking to didn't mentioned any reasons of upgrade. They just mentioned "waiting for the proper customer" and "dealer told them selling price two years ago".
I would be frustratrated if I couldnt sell a thing for 24 months!

Bth piano from pić is not yet purchased. It's definitely good price, piano it top notch and have been barely played, hammers ale looking like new. The only concern I have is a resale value, which in case of SP is horrible...

Khuja Wangtishvili

HZPiano
Indeed, my grał is to get a 126-130 high piano in next few years. But my heard is meeting from long time when I see SP piano, and they sound so lovely - I played on them and would be top ob my list if I would be looking for a new one.

David B

Usually I sell things at a reduced price just to get rid of them, but I'm having a hard time doing that with my house in CA.

If we're talking a difference of a few bucks (50/100) I'd prefer to drop the price and pass on a good deal to someone. However, if we're talking 100k, then that's a little more difficult.

God Bless,
David

kawafanboi

David B

i thought big corpos were still buying up all the relestate has that waned.

David B

kawafanboi i thought big corpos were still buying up all the relestate has that waned.

They are not interested in our property. It's way out in the country.

God Bless,
David