The answer depends on why you need to know and how the value will be used. A piano’s value can be influenced by its condition, age, make and model, and the market in which it would be sold.
If you’re simply trying to decide what to ask for your piano in a private sale (selling it yourself), a seasoned Registered Piano Technician who is familiar with the piano market may be able to evaluate the instrument and help you determine a reasonable asking price. You can use the Piano Technicians Guild’s Find an RPT directory to locate a Registered Piano Technician in your area and ask whether they are comfortable providing this type of assistance.
If someone else will be relying on the value, such as an insurance company, attorney, accountant, court, the IRS, or another third party, you will generally need a professional appraisal prepared by a qualified, accredited appraiser.
A professional appraisal is more than an estimate of what a piano might sell for. It is a documented, well-researched, and unbiased opinion of value that may be relied upon by others to make financial, legal, tax, or insurance-related decisions. Because of that, appraisal practice requires specialized education and professional standards beyond those used in evaluating or servicing pianos.
If your situation involves insurance, estate settlement, divorce, litigation, charitable contributions, tax reporting, or another matter where others will rely on the opinion of value, search for an accredited, qualified appraiser with education and experience in professional appraisal practice.
If you're not sure which service you need, ask yourself one simple question:
"Am I trying to decide what to ask for my piano, or will someone else be relying on this value?"
The answer to that question will usually point you in the right direction.