A publication, often in book or digital format, provides valuation estimates for previously owned musical instruments. These resources collate sales data and expert analysis to present a range of potential values based on various factors like brand, model, condition, and age. For example, a prospective buyer might consult such a guide to determine a fair price for a Steinway grand piano manufactured in 1980, considering its physical state and any necessary repairs.
The importance of consulting such a resource lies in establishing a realistic market value, ensuring fair transactions between buyers and sellers. Historically, these guides were physical books distributed to retailers and technicians. The rise of digital databases has broadened access and provided more real-time updates reflecting shifting market trends and increased availability of sales information. This improved access helps prevent overpayment and ensures sellers receive equitable compensation for their instruments.