Thank you for contacting Mearto with your appraisal inquiry. Based on the photographs and description provided, the subject of this appraisal is a Steinway & Sons Grand Model O piano in a polished black finish with a serial number of 176114, manufactured in the United States circa 1916.

According to the current owner, the piece was acquired from Pianohaus Zechlin in Ahrensburg, Germany.

Current retail prices for new Steinway Model O pianos is approximately $80,000 USD. Used models in excellent condition that have undergone a rebuild or refurbish using Steinway genuine parts typically top out in a retail setting at 50% of current retail, so the price of this piano in a retail setting would be expected to be approximately $40,000 USD.

Steinway & Sons records no factory service or factory restoration for this piece, so it is assumed that a restoration was performed by Pianohaus Zechlin or at their direction.

In auction settings, Steinway pianos typically do not achieve values equivalent to their retail prices. For example, a 1927 Model M sold through DuMouchelles in 2017 for $16,250 USD (20% of new retail), a 1938 Model A through Material Culture sold in 2017 for $9,525 (10% of new retail). Granted, these pianos were not as excellently refurbished as it is assumed the subject of this appraisal has been, so a premium is placed upon the valuation given here.

As with any fine instrument, a thorough in-person examination given by a qualified technician is necessary for making sure that the piece has been properly cared for and that the piece sounds as expected. In consideration of the factors noted, a Fair Market Value (pre-auction estimate) of this piece would be estimated at $20,000 USD to $30,000 USD.