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Nora
Nora, Expert in Fine & Decorative Arts: Renaissance through Contemporary
Category: Musical Instrument Appraisal
Satisfied Customers: 10017
Experience:  Liberal Arts BA College Degree, Post-Graduate Christie's Education in London, 10 Yrs Art World Experience in NYC, President & Founder own Corporation. Member AOA & ISA USPAP Compliant through 2017
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I have a Yamaha G3 piano built in the early 1970s. Serial

Customer Question

I have a Yamaha G3 piano built in the early 1970s. Serial number is(###) ###-#### It is a flat black finish. It is in good condition, but does have some scratches and a chipped key. It has been played minimally in the last 20 years. I am looking to sell it in the Austin, TX area. It needs to be tuned as it hasn't been in a few years. It has been in my family since the 1980s. To my knowledge it hasn't been rebuilt.
Submitted: 3 months ago.
Category: Musical Instrument Appraisal
Expert:  Nora replied 3 months ago.

Hi,

The Yamaha G3 Grand sells for $9000 - $11,000 on today's auction market.

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~Nora

Customer: replied 3 months ago.
Thanks Nora. Would you mind letting me know your source for your appraisal as I've seen much lower values on craigs list and ebay for this piano.
Expert:  Nora replied 3 months ago.

Hello,

I used a past sales database, worthpoint.com, to find comparables for your Yamaha G3. It is a subscription site used primarily by dealers, appraisers and collectors.

~Nora

Customer: replied 3 months ago.
Is that the value you are getting for the 1972 year G3 model? I am seeing values closer to $7-$9K on craigs list and ebay. I also went by a local piano store and they only wanted to give me $3,500 for it.
Expert:  Nora replied 3 months ago.

Hi,

The comparables were G3's though no year was given. Here we are seeing a mode, or most common number of $9000. I do not recommend selling direct to a dealer, as they will offer 10% - 30% of what they're planned sale price, which does in this case also reach the $9000 range. A dealer's livelihood is dependent on buying for less and selling for as high retail value as possible; the offer is not to offend or 'take' the seller, it is just the nature of the business.

Please take a moment to leave a rating by clicking the stars. If you require further assistance, no worries, the question thread does not close even after leaving a rating.

~Nora

Customer: replied 3 months ago.
I still think that $9,000 is way too high for a 1972 used piano. Do you have any pricing for the Texas market for this year model?
Expert:  Nora replied 3 months ago.

Hi,

Essentially you can ask any price you please on any object you own, the key factor being finding a willing buyer. If you have a dealer offering to take this from you for $3500, then you get the benefit of them picking it up and handling the transport correctly and also helping a local business owner potentially make a profit in the future. $9000 is the mode price, meaning the most common number coming up for past sales of a Yamaha G3. If you do not feel comfortable asking $9000, then ask what you feel is fair, right and most of all, the price that gets this out the door to complete a sale. There is not a particular market price for a Yamaha piano in Texas as opposed to Ohio, it is not a vernacular collectible and the value is not based on region.

Please take a moment to leave a rating by clicking the stars. If you require further assistance, no worries, the question thread does not close even after leaving a rating.

~Nora

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