What Grand Pianos are a Good Investment?

A grand piano isn’t just a musical instrument. In some cases, it can become a legacy item, a design centerpiece, or even an appreciating asset. While most pianos lose value over time (especially upright and digital models) a handful of high end grand pianos defy the trend. They hold their worth and, in some cases, grow more valuable with time.

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Grand Pianos That May Appreciate in Value

Select Steinway Models Can Hold Value and Grow

Steinway pianos dominate auction results for a reason. They have a longstanding reputation for craftsmanship, and their flagship grands are considered heirloom-quality. But not every Steinway will gain value. It’s typically the concert grands such as the Model D and B, especially those made before 1940 or after 1990, that draw the most interest on the resale market. A new Steinway Model D sells for around $190,000 in 2025, and some vintage examples have sold at auction for significantly more when restored properly.

A well-maintained Steinway B from the early 1900s can sell today for $60,000 to $90,000, depending on the quality of restoration and originality of parts. Restored Model D pianos have topped $120,000. Restoration quality matters just as much as the instrument itself. Steinway’s own factory restorations are often preferred by collectors and can command higher prices than third-party rebuilds.

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Bösendorfer Has Less Production and More Value

Bösendorfer pianos, particularly their Imperial models, have a smaller but devoted collector base. Handmade in Vienna and known for their lush, dark tone, Bösendorfers often hold their value extremely well. The Imperial 290, a 97-key concert grand, currently lists for over $250,000 new. Older models from the 1950s to 1970s regularly sell in the $80,000 to $150,000 range depending on condition and originality.

Because Bösendorfer produces far fewer instruments each year than companies like Steinway, their pianos tend to attract attention from collectors looking for instruments with rarity and provenance. Custom art case editions such as the Klimt or Porsche models have sold for more than $500,000 at specialty events and galleries.

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Blüthner is an Underrated Prestige Piano Brand

Blüthner pianos are less mainstream in the U.S. but have a long and respected history across Europe. Their unique Aliquot stringing system gives them a distinct tonal character that appeals to a particular niche of musicians and collectors. While most Blüthner grands do not see significant appreciation, some vintage models from the 19th and early 20th centuries have shown modest but steady growth in resale value.

A carefully restored Blüthner grand from the 1890s may fetch $35,000 to $50,000 today, whereas a decade ago those same models often sold for under $25,000. Some post-war examples also perform well in resale if they maintain original parts and soundboard structure. Since these pianos appear less frequently in the U.S. market, values tend to fluctuate more, but careful selection can yield a stable long-term purchase.

Auction and Dealer Data That Back This Up

Public sales and dealer records suggest a few clear trends. Steinway Model D concert grands from the early 20th century have increased by around 3 to 5 percent annually for the last twenty years when properly restored. Bösendorfer Imperial 290s produced in the 1990s have seen their average resale price jump by about 40 percent since 2010. Vintage Blüthner grands built before 1930 have grown in value more slowly, but still show a 1 to 2 percent annual increase. All of this depends on condition, maintenance history, and market timing. While these instruments are not a guaranteed investment like a bond or index fund, their performance can rival or even exceed traditional assets when purchased and maintained wisely.

Grand Pianos That Hold Value Over Time

Yamaha

Some grand pianos do not increase in value, but still offer outstanding long-term durability. Yamaha’s C and CF series are widely known for their reliability and consistent build quality. These instruments often last for decades and experience only moderate depreciation, especially when kept in a climate-controlled environment and maintained by a professional technician.

A new Yamaha C7X costs around $75,000 today. A model built twenty years ago in excellent condition still sells for $30,000 to $40,000. That kind of price retention is rare for musical instruments. The CF series, designed for professional venues and institutions, tends to hold its value even better over time. Even their baby grands in the G series provide excellent playability and resale strength for private home use.

Kawai

Kawai pianos, particularly those in the Shigeru Kawai lineup, have earned a reputation for durability and clarity of tone. The SK-5, currently priced around $70,000 new, can resell for $40,000 to $50,000 after ten to fifteen years of ownership. While that doesn’t suggest appreciation, it does indicate that the instrument holds value far better than most consumer goods or lower-tier pianos.

Buyers looking for a long-term, trouble-free experience often gravitate toward Kawai models because of their build quality and reasonable maintenance costs. Although they may not show the same potential for price growth as a vintage Steinway, they outperform most pianos in terms of longevity and ease of ownership.

The Value Isn’t Always in the Resale

An instrument does not need to appreciate to be a wise financial choice. If a grand piano gives you twenty or thirty years of reliable performance and still retains half of its original value, that’s a win. Many Yamaha and Kawai pianos fit this description. They serve serious players and educators alike, offering consistent sound and feel with low variability in quality.

High-end pianos from these brands can outlive multiple generations of upright models and still respond beautifully to touch and tone. Resale value becomes just one part of the equation, not the whole story.

What Piano is Right For You?

If you’re looking for a grand piano that could appreciate in value, focus on limited-production models from Steinway, Bösendorfer, or Blüthner. If you want an instrument built for the long haul that still holds a good portion of its original value, Yamaha and Kawai offer dependable options with well-documented performance.

Most important of all is that you enjoy playing it. A grand piano is an investment in your musicianship and daily life. If you’d like help choosing a model that fits your goals, we’re happy to walk you through your options.