I don’t view it as an expense; I view it as an investment. Because over time the Steinways will increase in value. Steinway represents the epitome of high culture and art--and the musicians who play it are, in many cases, geniuses. Steinway is the tool they use to express themselves. […] When you have something that’s perfect; that occupies a position in its sector that’s unrivaled by anyone else--that’s not something that you want to change. It would be very difficult to replicate the expertise and the uniqueness of Steinway’s manufacturing process anywhere else.”

-John Paulson, Owner of Steinway & Sons

Ronald Boyd answered this question very simply for his loyal customers:

Piano Facts you need to know before purchasing a piano:

  1. There have been few improvements in Piano design in the last 100 years. The majority of the enhancements that made Steinway Steinway were developed prior to 1900.
  2. The main body of a piano will last for centuries, but certain parts do wear out or deteriorate with age. These parts can be replaced, making the piano like new again.
  3. Quality pianos last 80-100 years before needing any major reconstruction.
  4. Piano names such as Steinway, Mason & Hamlin, Knabe and Stieff established their reputation more than 100 years ago. Both because of their name and their quality, the pianos increase in value with age.

These finest vintage pianos from the past were built to a higher standard of workmanship and materials than found today. The result is tonal quality that is unmatched in today’s pianos.
Rebuilt pianos are essentially new: All of the parts of the piano that have received the most wear have been renewed or replaced. And because they came from an era that stressed dedication to quality and materials, you will see this in the way they perform.

Pianos such as these will, under normal circumstances, be with us for centuries to come.