Restoring a player piano is a significant undertaking that can be as time-consuming as building a new instrument from scratch. High-quality restoration work is extremely expensive, often ranging from $25,000 to $40,000 or more for a top-notch restoration of a premium-quality instrument.
The Cost of Player Piano Restoration
The cost of restoring a player piano can vary widely depending on the condition of the instrument and the level of restoration required. According to Piano Artisans, a full restoration of a baby grand player piano (4’6″ to 5’6″) can cost between $17,500 and $25,500, while a grand player piano (5’7″ to 6’2″) can cost between $19,250 and $39,500.
For upright player pianos, the costs are as follows:
Full Size Upright or Cabinet Grand (5’2″ to 5’6″): $15,900 to $28,500
Medium Size Upright (4’5″ to 5’1″): $13,950 to $27,500
Studio Size Upright (4′ to 4’4″): $11,900 to $18,500
Spinet or Console Upright (less than 4′): $9,900 to $17,500
These prices typically include refinishing, full restringing, damper felt replacement, hardware polishing, full action replacement and restoration, action regulation, ivory and ebony key top restoration or replacement, and piano tuning. However, they exclude the replacement of the soundboard or pinblock, which can add additional costs.
The Value of Restored Player Pianos
Despite the high cost of restoration, the value of a restored player piano may not necessarily increase proportionally. According to Player-Care, a player piano restoration expert, it generally costs more to restore a player piano than it is worth. The expert suggests that the return on investment for restoration costs is around $0.35 for every dollar spent.
However, for those who love and appreciate player pianos, the cost of restoration may be worth it for the joy of owning a beautifully restored instrument. As the expert notes, “Player pianos are not an investment!!! Unlike a fine violin, player pianos get WORSE with AGE and every single one will have to be restored, at a healthy fee, at least every forty years (much sooner on certain types).”