Altenburg, Otto (variously Altenburgh): Otto and his cousin, Frederick, began building pianos while living in Germany.Considering 25 years of depreciation, as well as the used piano market, today it would be valued at approximately $3,600-$4,400 in a private sale. The 5'10' model is no longer made under this name, though it would sell new today in the $10k to $12k range. Based on the serial number, this piano was built in Korea by Samick in 1991.As noted, production of their own instruments stopped in 1875. Later they added other piano brands to their retail stock. Seeing a growing market, Altenburg opened a retail store while continuing to manufacture pianos. Things went south about a year later, though Frederick (and possibly Otto) continued to build pianos.
In 1926 we moved up the street to 1150 East Jersey Street to a custom built, art-deco piano showroom.
The first Elizabeth showroom opened in 1906 on East Jersey Street in Elizabeth. I try to always provide Excellent Service, so if you have any other items, just say Hello Alan at the beginning of your new question.In 1906 the family moved to Elizabeth, New Jersey and we’ve been here ever since.
If you are satisfied, please let me know by rating my answer for my compensation and to close out the question. Please let me know if this is the information you were looking for and reply with any questions now or any time in the future. Please let me know if you would like Insurance value as well. I would recommend a starting asking price of $850 so that you can reduce if necessary since Market Value represents what someone was willing to pay for an asset, not the amount it was offered for. As always, the price you are able to sell for may vary depending on venue, condition, market variances, and more. These recent completed sales gave your Otto Altenburg console piano a current market value of $500 - $700. Using these I was able to determine the average market value minimum and maximum for you. Searching auction house records and library databases provided recent sales results of qualified market comparable items. From experience and research I can tell you that piano was made in Korea these are good for beginners the market value appraisal you had was for insurance purposes I am sure they have fallen in value. Thank you for your patience while I conducted my research and prepared your answer.
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