M. Steinert & Sons' Trade-Up Policy: When is the best time to use it?
June 28, 2022 •Stephen Reed
M. Steinert & Sons’ Trade-Up Policy: When is the best time to use it?
by Stephen N. Reed
When choosing a piano, you’re also choosing the piano store that sells it to you. For many years, M. Steinert & Sons has offered a Trade-Up policy that adds significant value to your purchase, allowing payments to be applied to a new piano later.
Most piano companies offer some kind of Trade-Up policy. But unless a company is sound and will be around later to honor their Trade-Up policy, your policy won’t be worth the paper it’s printed on.
M. Steinert's track record over 160 years makes our Trade-Up policy meaningful, as we are a piano company that will be around to help you convert your first piano payments to a second, better piano of greater value.
Having sold pianos from the Steinway Family of pianos for over 150 years, we know that piano needs can change for an individual customer or a family. Perhaps the ideal piano model is out of reach financially but could be obtainable in a few years?
We want you to secure–whether now or ultimately–the right piano for you. That’s what our Trade-Up policy is all about. This article will explain the two Trade-Up policies M. Steinert offers and when to use them.
The Trade-Up Policies
The M. Steinert & Sons’ Lifetime Steinway & Sons Trade-Up Policy
This policy provides that any Steinway & Sons piano, new or used, acoustic or digital, purchased from M. Steinert & Sons receives 100% of the original purchase price for the life of the original purchaser towards any new, larger Steinway & Sons piano of greater value.
The piano must be in reasonable, age-appropriate condition. Original purchase price honored excludes taxes and delivery.
Example 1: You purchased a Steinway Model S in 2017 for $67,600 – get that amount towards a new Steinway & Sons Model B.
Example 2: You purchased a Boston upright, Model UP-118E EP 46" for $13,900–you’ll get that amount if you later decide to buy a Steinway Model S baby grand at any point in your life.
M. Steinert & Sons Full Value Trade-Up Promise (for other piano brands)
Receive 100% of your purchase price as trade towards any piano bought from M. Steinert & Sons (including Boston, Essex, and Roland lines) of double value for up to 5 years.
Example: You purchased a Roland Digital piano for $4,000 on 12/1/2020, you will get that full amount towards any piano costing $8,000 or more until 12/1/25.
The right time to use the M. Steinert Trade-Up Policy/Promise
The reasons for Trading Up to a better piano are numerous. M. Steinert & Sons piano consultants give these examples:
- The piano student’s teacher notices that they need the upgrade because further growth is impeded with their current instrument. Some teachers refer to this by saying “the student is better than their instrument”.
- A new or expanded home allows for a larger (or grand) piano.
- The parents realize a child is becoming serious and excited about their piano study and are less apprehensive they might quit. They are more willing to invest in their child’s future with an acoustic piano, whether an upright or grand.
When the time is right financially
Of course, a major factor as to the right time to use the Trade-Up Policy/Promise is when the time is right financially for you. However, part of that financial equation, especially for the other brands included in the M. Steinert & Sons’ Full Value Trade-Up Promise, is to not lose your initial piano investment by waiting after the five-year limit.
Trading up within 5 years is akin to trading up to a larger home when the housing market is at its highest. The larger home is made much more affordable by recovering the full value of the first home.
A new piano, purchased after the first one, will be far more obtainable with the help of that initial piano investment and without having to deal with the hassles of a private sale.
That is the real value of the M. Steinert Trade-Up Policy/Promise: a customer can be in a much more advantageous position towards obtaining the piano of their dreams, even as they purchase the right first piano for their needs right now.
Come talk with one of our piano consultants
As with all matters pertaining to a final decision towards purchasing a piano, a trip to the showroom to discuss any questions you have with one of our seasoned piano consultants can give you peace of mind. M. Steinert & Sons has based its reputation through customers who not only like their piano selection on the day of purchase but longterm in their home.
One of our piano consultants can answer any further questions you may have regarding the Trade-Up Policy/Promise or financing the piano that is right for you. Make an appointment today to begin that important, ongoing discussion.
Meantime, learn more about the financing options available by reading this article from our Expert Advice section of our website: