6/20/2023 0 Comments How old is my krakauer bros piano![]() Generally speaking, this is the most accurate method of determining value when one has access to a body of information on recent sale prices of comparable items. ![]() ![]() The comparable sales method compares the piano being appraised with recent actual selling prices of other pianos of like brand, model, age, condition, and location. (The Piano Buyer article has since been revised to include these comments.) Fair Market Valueįair market value is the price at which an item would change hands between a willing buyer and a willing seller, neither of whom is compelled to buy or sell, and each of whom has reasonable knowledge of the relevant facts.Īppraisers of used pianos and other consumer goods typically use three differentmethods to determine fair market value: comparable sales, depreciation, and idealized value minus the cost of restoration. The purpose of this article is to comment on and clarify the information in Piano Buyer on determining the value of a used piano.
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