Owning a Steinway piano is a dream aimed for by many serious pianists.
Steinways are world renowned for their quality and name.
While they are not the most expensive pianos in the world, they are nevertheless quite pricey.
Okay, super pricey.
Luxury pianos like Fazioli and Bosendorfer will take the cake as far as price is concerned, but Steinways are right up there too.
If you go to a showroom, you will see Steinways that cost $100,000 and up.
You may ask yourself how much will you need to get a Steinway, even just a “budget” model.
In this guide we’ll explore price ranges for their various models of pianos.
We’ll also look at the used market for Steinways, as well as explore what makes these instruments so revered and expensive.
Price Ranges For New Steinways
Steinway & Sons offers many models of pianos.
Each model comes in at a different price range – uprights generally costing less than grand pianos, and baby grands costing less than concert grands.
Here’s a breakdown of the different models available and their price point:
Steinway 4510 Upright Piano
These pianos will come in around $35,000 brand-new.
They are 45” high, available in Satin Ebony, Mahogany and Walnut.
These are the cheapest pianos in the Steinway lineup, but they still have beautiful workmanship and quality materials.
They feature a solid Sitka spruce soundboard, birch lining, pine ribs, Swedish steel strings, double felted hammers and European spruce keys with solid brass hardware.
These are studio uprights, a little taller than the 45” ones, coming in at 46.5”.
They are slightly more expensive, at around $37,000, which makes sense as they are slightly larger.
It’s worth noting that Steinway does not mass-produce their uprights as many brands do.
They are made using the same factory as the grand pianos, the same techniques, conditions and craftsmen.
The Model K is Steinway’s flagship upright piano.
It has a larger soundboard than many of the grand pianos, and thus has an enhanced resonant voice.
This is the piano of choice for many professionals with Steinways in the studios or homes.
It is 52” high and costs around $38,500
Getting into grand pianos now, the Model S is the smallest and cheapest grand piano offered by Steinway – only five ft. long and only around $69,500.
I mean, it’s still a lot of money.
These come in at $74,200 and are labeled M for Medium Grand.
They are 5’7” and are found in conservatories around the world.
Their rich tone, responsive action and somewhat manageable size makes them perfect for a professional setting.
Model M is also available as the Steinway Spirio, which is a stunningly high res player piano.
Billed as the “living room grand”, the Model O is the largest of Steinway’s small grands.
It’s 5’10.5” long and comes in at $83,000.
The Model O is designed to be large enough to satisfy players and rooms that demand a rich, full sound, but it’s also sized to fit in a practice studio, small stage or living room.
Steinway’s Model A is their salon grand.
It comes in at 6’ 2” and $96,000.
It’s not yet a full size grand piano, but at this size it’s too big to be considered a small grand.
It offers powerful sound and warmth with a spruce soundboard that resonates like its larger counterparts.
This is Steinway’s classic grand.
It’s 6’ 11” and $109,000.
That’s right, it’s a six-figure piano.
But this is the piano that is sometimes referred to as the perfect piano.
It’s balanced and versatile.
Perfect for teaching studio, mid-sized venues and homes with a lot of rooms.
Finally, Steinway’s Model D is their concert grand and it measures 8’ 11 ¾” long.
It’s a majestic instrument that comes in at $176,000.
This is essentially the pinnacle of concert grand pianos.
It’s the most popular piano among the world’s greatest pianists and finest concert halls.
It commands a stiff price and the attention of anyone in the room while it’s being played.
Used Steinways Piano Prices
Used Steinways can be purchased from registered Steinway resellers.
To be guaranteed, they have to come from either Steinway itself or from a licensed reseller.
Price ranges for used Steinways come in around 47% to 50% of the new price for the same instrument.
A new Model K costs $38,500, so you can expect a used one to come in around $19,000.
This only applies if you are buying a used Steinway from a licensed store, which you should.
There is a lot that can affect the price of a used Steinway, and you should be in the know.
What Affects the Price Of A Used Steinway
There are basically seven types of used Steinways you should be aware of:
This is a used Steinway that has never been restored.
It’s probably not in playing condition and has not had annual maintenance for a long time.
This is a Steinway that has had parts repaired over time, but has not had any of its major parts replaced.
It’s been maintained and can be played daily, but will probably need serious maintenance soon.
Like a car, you can sometimes find rebuilt Steinways.
These have had major components replaced and restored to their original condition.
The soundboard, the bridges, and action parts are the usual culprits for rebuilds.
These used Steinways have had Steinway parts replaced with non-Steinway parts.
Steinway parts are expensive, just like their pianos.
So, parts are sometimes replaced with other brands.
But in the eyes of Steinway, these are no longer Steinways if they are not made up of 100% Steinway parts.
Original, used Steinways are usually less than 20 years old, but have never had any parts replaced.
There is a Steinway Restoration Center in NYC that will take Steinways and restore them to their former glory by replacing parts with genuine Steinway parts and workmanship.
Through authorized Steinway dealers, you can purchase heirloom collection pianos.
These come with the same five-year warranty that new Steinways come with and have all Steinway parts.
You can tell an Heirloom Collection piano for the medallion on the inner rim and a Certificate of Authenticity.
The price of a used Steinway will depend which category it falls under.
When you’re buying a used Steinway, you can look up the serial number to determine the age of the piano.
The Steinway factory keeps log books on every Steinway built since 1853.
Anyone with a Steinway can call and request their piano’s history.
Things to keep in mind: if it doesn’t have 12,116 genuine Steinway parts, it is not a Steinway.
Steinway does not sell their soundboards, they make each one from scratch.
If a used Steinway had the soundboard worked on anywhere other than the Steinway factory, it should not be marketed as a Steinway.
What Affects The Price Of New Steinways?
So, why are Steinways so expensive in the first place?
The finish of the piano directly affects the price.
Ebony or satin will cost thousands less than a Mahogany finish.
There are special models that come with unique finishes like polished white, engravings, embedded stones and more.
All of this drives up the price.
Indian Rosewood, Macassar Ebony and Dark Cherry are all expensive finishes.
The more wood materials, action parts and labor goes into the piano, the more it will cost.
This is in fact the primary thing that drives the price up.
As the size increases, so does the tone and more work has to go into both tone and aesthetic.
The only exception to this is when buying a used piano – a mint condition upright may go for more than a baby grand in rough shape.
Steinways aren’t getting any cheaper.
The price of a Steinway Model is currently $81,200.
At a 48% increase, the price of the piano outpaces inflation.
Every model tends to go up by about 4% every year.
As these prices increase, so too does the pricing on used Steinways.
Steinway Action Parts
The action parts are extremely complex and it’s the most expensive part about a Steinway piano.
There are 12,116 individual parts and most are made from wood, metal, or felt, and all are made of high-quality materials.
A set of bass strings (just the low ones) alone can cost around $300.
The Steinway Soundboard
Steinway makes all of their soundboards from scratch and never sells them to anyone.
The soundboard is a huge part of what makes a Steinway a Steinway.
It is made of several layers of aged spruce.
Sourcing this material is expensive and time consuming.
Building it is labor-intensive and difficult.
Tips For Buying A Steinway Piano
If you’re thinking about buying a Steinway, it’s always in your best interest to go to an authorized dealer.
These galleries have the best quality pianos in the world, and they are meticulously maintained and stored in a temperature control facility.
Don’t be afraid to negotiate on the price.
Often you can get a better warranty, free maintenance and better financing if you ask for it.
These pianos are big-ticket items like cars, so it makes sense to negotiate on the price.
Like cars, these pianos depreciate as soon as they leave the gallery.
Used Steinways come in around half the new price.
You should try to buy used Steinways from authorized dealers as well, as you’ll likely be able to wrangle a warranty out of them and you’ll have the peace of mind knowing you’re buying a great instrument.
That said, if you want to save dough, look on Craigslist, Facebook Marketplace and specialty online stores like Reverb.com.
It’s a big purchase!
Don’t be left with buyer’s remorse.
Always make sure to play the piano several times and do your due diligence before buying.
Steinway & Sons Piano Price, Final Thoughts
As Steinway & Sons don’t reveal prices on their website, I hope you found this article useful.
If so feel free to share it, it really does help us create more free guides like this for you.
As you can see they have pianos in all different price ranges, but none of them less than multiple five figures.
I strongly suggest you going to a Steinway showroom to see if one of their pianos is right for you.
It is a big cost, but totally worth it if you want a premium piano to perfectly reflect your talent.
If you’re also interested in the price of other piano brands, you can find out here.