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Appraisals |
Appraisals are done when it is necessary to establish
the value of a particular piano – for insurance and/or
estate purposes, or in the case of a unique or high
value piano when a sale is being contemplated. The
process is not unlike the appraisal of real estate,
where issues such as working condition, age, brand,
appearance, and market conditions are taken into
consideration. Data is collected from several sources
(such as manufacturers, dealers, and other technicians)
to value the subject piano as accurately as possible.
A written document is supplied along with a discussion
with the interested parties.
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Evaluations
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Evaluations are similar to appraisals, except they are
more informal and reqiure less time to conduct. An
evaluation should be performed if one is considering
buying or selling a piano of average value, and the
transaction is taking place between private parties.
In such cases the knowledge and experience of the
technician is relied upon to establish reasonable
value. An evaluation should also occur when the owner
is contemplating having substantial restoration done.
A written document may or may not be a part of the
evaluation process.
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Estimates |
An estimate is
often combined with an appraisal or evaluation. Estimates are prepared when the piano is in need of repair, reconditioning, or rebuilding, and
every attempt is made to give as acccurate a picture of the given
project as possible. It is important to realize,
however, given the complexities of the piano, that
estimates may sometimes have to be adjusted to reflect
the discovery of unexpected conditions.
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