Okay - let's just assume it was built in the early 1920s.
Old pianos have no value just for being old. In other words, prospective buyers are not collecting pianos; they want to be able to play them. Pianos have parts that wear out and must be replaced, and a piano that hasn’t been regularly tuned will not hold a tuning. So, old pianos are at a disadvantage in the market.
Pianos are valued heavily on age after other factors like style, maker and condition. Age will tell you what kind of wear the piano would have mechanically. Even if the outside looks good the internal mechanisms are likely only in fair condition.
So, the piano you re looking at is not actually a good "buy". You'll have to put more money into repairing the sound board and any other parts that have worn out than the piano is worth.
It's free because no one will buy it because of its condition. If you just want a piece of furniture, then go get it. But, if you are thinking of having anyone ever play it, it's not a good idea to take it.
It's current value is approximately $50 - $100.
I hope this answer has been helpful to you, Penny.
If you have any further questions or problems concerning this answer, please let me know.
If you would like to work with me on further questions you might have, it would be a pleasure to work with you again. All you have to do is put my name (Judith) at the beginning of your question.
I need your positive rating! Could you very kindly rate my services (with the stars or "accept" button) as this is how I get paid by JustAnswer, at no extra cost to you. Please click the five stars above, and then click the green button. We can still continue to communicate here on this thread after you do.
Thank you so much!