Steinway Appreciation
A Steinway piano is an incomparable creation - a unique achievement that sets the world standard for how a piano should look, play and sound. But a Steinway piano is also something more. It is a singularly inspired investment -- an instrument that combines the joy of musical perfection with the security and reassurance of financial appreciation. It is, quite simply, a treasured possession that grows in value over the course of time -- a rare and enduring creation which is handed down with pride from one generation to the next.
The Key to a Sound Portfolio
According to Forbes, over the past ten years, the retail value of a Steinway concert grand has appreciated nearly 200%.* An impressive record, to be sure - but one that tells only part of the story.
The fact is, the appreciation of Steinway pianos is even more impressive when you look past the previous ten years - and take an historical look at appreciation over the past few decades. The numbers are nothing less than remarkable: Today, if the owner of a vintage Steinway grand decided to gauge the value of his or her piano on the open market, it is likely that the piano would command a price 4.3 times higher than the original retail cost.** As the first chart shows, this figure is based on a representative sampling of Steinway grands of all ages - pianos which were created from before the turn of the century up through 1978.
Furthermore, Steinway vertical pianos (uprights) command a handsome resale value as well - selling, on average, at a price 2.2 times higher than their original cost.** Of course, as interesting as these figures are, there is one important point to keep in mind: When you own a Steinway, you possess a timeless creation that is passed on with pride as a beloved family heirloom. No matter how financially precious your Steinway becomes, you will find that it is a treasure with which you do not wish to part.
An Investment That Performs
By way of comparison, a Steinway piano outperforms such symbols of luxury as a Mercedes Benz.*** As you can see in the second chart, Steinway pianos also perform better than a wide array of luxury items renowned for their enduring financial value.
Setting the Standard for Uncompromising Quality
Since 1853, Steinway pianos have been built to a standard, not to a price. It takes one full year to make a Steinway piano - one year of painstaking, labor-intensive hand-craftsmanship. It is no wonder that Steinway pianos are renowned for their incomparable sound. For their intuitively responsive touch. And for delivering the musical equivalent of perfection - to the point where Steinway pianos are chosen by 90% of the world's performing concert pianists. And of course, as you now know, there is also another excellent reason to purchase a Steinway - a financial reason that grows more and more compelling with each passing year.
* Forbes magazine: October 27,1986
** R.H. Bruskin Associates Piano Market Survey: Dec. 1988
*** Washington Post: February 2, 1987
(This article is an excerpt from Steinway.com)
