How Much Does A Steinway Piano Cost? – Statistical Breakdown

Steinway pianos are some of the most sought after pianos that money can buy. So, how much does a Steinway piano cost on average?

If you have ever searched for the pricing on Steinways, you will know it can be difficult as there some factors determining the price.

*These numbers below reflect the starting points for each model.

The Steinway model 4510, which is an upright piano, costs about $35,000. This is the least expensive model for a brand new piano that Steinway offers. The Steinway Model S costs $64,500. Their most popular concert grand piano costs roughly $171,000.

In short, when averaging out the 9 most popular Steinway models made in New York, we come to the average price of $75,777.

We will get into a full breakdown of all Steinway piano prices below, but you can see from above, they can greatly vary.

Another thing to consider is that Steinway used pianos typically cost between 45% & 75% of their original MSRP value. The depreciation varies for pianos because of a few different factors which mainly relate to the condition of the piano & the overall piano market.

While I will be presenting the average costs of new Steinway pianos with tables below, I also want to present you with used prices as well, just so you can get an idea overall.

This post has been updated to include all relevant prices in 2024, as of May 19.

What Affects The Cost Of Steinways?

The overall cost is greatly affected by the finish of the piano. For example, a basic finish on a Steinway model D can be $171,000 & one with a Mahogany finish can reach to over $200,000.

Another key factor in the pricing of Steinways is size. The larger the piano, the more parts that are needed to complete the build. As you can see, this can greatly affect the price.

Parts used is another place that can affect how much your piano will cost. We will be touching on this later in this article when addressing buying Steinways.

Steinway Grand Piano Prices

Below is a table that breaks down the average price of a new Steinway & Sons Grand piano. I have supplied the data for the entry-level pricing for each model, as well as the higher-end prices.

So, how much does a Steinway piano cost?

Grand Pianos	Price	Size
Model S	$65,600-$71,600	5′ 1″
Model M	$63,100-$69,400	5′ 7″
Model O	$71,100-$78,100	5′ 10 3⁄4″
Model A	$81,800-$89,900	6′ 2″
Model B	$92,400-$101,700	6′ 10 1⁄2″
Model D	$148,700-$163,600	8′ 11 3⁄4″

Steinway Upright Piano Prices

Below are the prices for upright pianos. You will notice the price points are drastically different. With this being said, Steinway uprights are fantastic pianos.

Used Steinway Piano Prices

Used Steinways prices are heavily influenced by the condition of them. There are a few things that are incredibly important when buying a used Steinway.

If the piano was restored by using parts that are not authentic Steinway parts, then the value drops pretty dramatically. It’s important that you always are aware of how the piano was restored.

Note: Always ask for written confirmation and verification that the parts used were authentic Steinway parts. If authentic parts are used, the pianos don’t lose value near as much.

Steinway & Sons Piano Overview

Buying a Steinway piano can be similar to buying a house for some. This is a major investment that pianists earn after years of work. Steinway pianos are used heavily in orchestras & touring performers.

So, what makes Steinway pianos so great? The materials that go into them, and the string tension are two major points. I’ve generally always thought Steinway pianos sound very warm.

This is due to the fact that Steinways have low string tension, which results in producing a lower attack with more sustain. In other words, it greatly helps in producing a very warm sound.