Thank you for the extra information and your patience. I have to say at the start of this appraisal write up that I do not have any very good news for you in terms of value, but I will come to that a bit further on.
Apart from a few unique and rare instruments, pianos and player pianos are not usually bought as antiques in the furniture sense of the word because they are bought to be played. Hence pianos do not necessarily have any great value because they are old. They depreciate with age and usage.
As I said previously, Pianos and Player Pianos have a limited life span of around 60 years mainly due to the wear during use and natural deterioration of the mechanical pieces over time, which is particularly so for Player Pianos with their multitude of extra quite fragile parts. As you have found, even though it is still playing, the fact that you are having to expend more effort, means that it is in need of having some work done. For its age it is doing remarkably well to be still playing and as long as you keep it going it could continue for some time before it becomes too difficult. One of the worst enemies of these instruments is to leave them un-played as the player part materials tend to deteriorate very much quicker as they become set and brittle.
A full internal and external restoration rebuild of the complete instrument will usually cost $10,000 to $15,000 or more. Thus if you were selling it now a potential purchaser would have to accept that some money would need to be spent on it in the short term with the possibility that a large amount of money would have to be spent on the instrument on an ongoing basis. It has always been a very specialized market for these instruments and in the current market with a good many similar instruments for sale, even in ‘mint’ condition after a costly total restoration, the owner may only receive offers often well below $5000 in a private sale or even less at auction! This is why generally only the real enthusiast, who really knows how wonderful these instruments can be in top condition, have them restored because they understand and live with the fact that it is unlikely that they will ever achieve their money back if they have to sell. Or they hang on to them even un-restored and put up with a few hiccups when they are playing.
Based on the information I have, plus the details you have provided, I believe your circa 1918 Beckwith Upright Player Piano has a current value of $500 to $1,000 for a private sale. As there are many such player pianos still around you may only be offered lower than this range. However, if you were considering insurance, I would suggest that it should be covered for a replacement value of up to $2,000.
Thank you for using JustAnswer. My aim is to provide you with a great service and receive a 5 star rating but at least 3 is preferable; therefore I trust that you have found this answer helpful. If so, please accept the answer and click the ‘STAR RATING’ or the 'RATE TO FINISH’ and ‘SUBMIT’ button in the REQUEST DETAILS SECTION at the top, as this is the only way as an Independent Expert I receive any recompense for the research I do to assist you There is no additional cost to you as my percentage of the payment for this question is taken from the amount you have agreed for this question only. Also by completing the rating star system it will stop the continual rating reminder emails you would receive from this site.
If you are disappointed in the value given ‘please do not shoot the messenger’, I can only give you a value based on the current markets and a reflection of similar sales. Owners of musical instruments often have a very sincerely ***** ***** that their ‘pride and joy’ is particularly valuable and sometimes it is, but musical instruments unfortunately generally depreciate with age. Many thanks and if you need any more help or explanations on the value I have given please contact me before you complete the rating.