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Nora
Nora, Expert in Fine & Decorative Arts: Renaissance through Contemporary
Category: Musical Instrument Appraisal
Satisfied Customers: 12071
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: 10 months ago.
Category: Musical Instrument Appraisal
Expert:  Nora replied 10 months ago.

Hi,

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

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~Nora

Customer: replied 10 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 10 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 10 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 10 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 10 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 10 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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