The most popular pianos on Priceonomics are biased toward high-end models from Steinway and Yahama, so please keep that in mind. The average new price in our sample was $50,000 and the average used price was $19,000. In this case, you could save $31,000 buying the piano used instead of new!
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Read More »Take a look through Craigslist, and you’ll notice that used pianos are a popular item for sale. Take a closer look, and you’ll see that many people are actually giving away their pianos – they just want you to come and pick it up from them. In the economic sense, there is no such thing as a “free piano” – it costs time and money to transport a piano to your home. On top of that, it’s likely that a free or cheap piano requires significant repair or maintenance to play properly. But if you are a bargain hunter (which you probably are if you’re on Priceonomics), the benefit of buying a used piano can be significant cost savings. Things that are a pain in the butt to transport tend to get heavily discounted on secondary markets. Sellers have to offer a solid discount in order to compel buyers to undertake the hassle of transporting the item. If you’ve ever bought or sold a used appliance like a refrigerator, you already know this. So, we would expect used pianos to be offered at a significant discount to just buying them new from a dealer that delivers it to your house. It turns out, you can save 60% buying a piano used instead of new. If you are willing to invest in delivery and have the used piano inspected by a professional, you can save big.
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Read More »Like any used product, a used piano can be damaged or defective. If you peruse through the listings of free and cheap pianos on classified advertising sites, you will find ample evidence that this is true. How bad is it to buy a piano that may be damaged? Does it just need a tuneup or is it completely ruined? Is it difficult to tell if a piano is in poor condition? According to the Piano Technicians Guild: “Often problems that don’t seem that big are major problems and vice versa.”
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