While all parts of a piano are easily replaceable, sometimes it can be expensive. With parts that may shift over time, wood that may swell or shrink and parts that wear down, the value of the instrument will decrease gradually. It is hard to gauge just how much affect humidity control, playing, and moving has on a piano. Every time a piano is played the wear and tear begins. Outside of protecting sales and the market, pianos depreciate quickly because of how often they are used. Things like supply and demand, limited edition pianos, condition and repairs, mass-produced pianos, and the economy can determine the value of a used piano. There is not a set depreciation schedule to follow, however many of the same factors apply to each. As the piano approaches the 10th year, the depreciation slows significantly. From there it faces a steady decline of around 5% per year. Piano Depreciation Schedule 1 Year OldĪs you can see, the piano loses 20% of its value in the first year alone. Pianos that are mass produced generally are not subject to those kinds of favorable results.īelow is an example of what a piano depreciation schedule would look like. If the piano is a popular brand and the market is trending upward, then inflation will actually cause the value of the instrument to rise after depreciating initially. Used pianos are already offered at a discount, and in most cases are worth next to nothing after being purchased from a dealer. The drop in value is substantial, often ranging between 670 – 75% within just 2 – 3 years of the initial purchase. Purchasing a piano is a lot like purchasing a vehicle, it will immediately be worthless the minute ownership is transferred to you.īecause piano dealers need to protect the sale, most pianos immediately lose their value after being purchased. Interested in quality digital pianos for easy learning? You can find them by clicking here#ad Why Do Pianos Depreciate
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