Practical Piano Valuation

From the Foreword by Dr. Albert R. Rice:Written in a clear, concise style, Practical Piano Valuation presents a practical, step-by-step methodology for estimating the value of a used piano. Although intended primarily for piano technicians, it will also be useful for professional appraisers.The book begins with explanations of the concepts of value and markets as they apply to pianos, the market-relevant characteristics of pianos, and the valuation process and scope of work.Later chapters contain detailed instructions for determining value using the comparable-sales and replacement-cost approaches, the complex problem of figuring the value of restored pianos, and how to report conclusions to the client. Six fictitious but plausible valuation problems are solved using actual data.The main text concludes with a discussion of some of the legal and ethical issues that can arise or should be considered during the valuation process, with considerable space devoted to the details of IRS regulations regarding valuations for tax-deductible donations.If the book ended there, it would still be a great achievement—but this highly creative and original work continues with eight appendices, most comprising charts and tables that allow the user to quantify various aspects of value that previously had to be made by guesswork.Practical Piano Valuation is not only an important work in the field of piano technology, but also an excellent example, for professional appraisers, of how to apply the principles and methodology of personal-property appraisal to a specific type of property. Read more