Its said that Vladimir Horowitz, the famous Russian pianist, used to travel with his own personal Steinway piano, whenever he played concerts around the world. Steinway artists include Lang Lang, Harry Connick Jr, and Billy Joel. An upright piano can cost over $30,000 and for a concert grand you will have to shell out in excess of $150,000. Steinways are known as the Rolls Royce of pianos besides the top class build qualities, their also prices reflect that. In the coming years, Steinway should see a rise in demand in growing markets such as China. Steinway’s pianos are not cheap but the fact that companies were willing to invest in Steinway indicate that high-end pianos are still in demand, particularly in the luxury market. (led by billionaire John Paulson) for around $500 million, there were many investors who were in the race to buy Steinway. When Steinway piano was bought over by investment firm Paulson & Co.
Even though sales have increased in the past few years, they have yet to return to their levels from before the downturn. However, the last recession did take its toll on the company’s sales. Steinway pianos have always been a status symbol and a must-have luxury in concert halls for more than a century. Steinway pianos are used by the top concert pianists (and also those who aspire to be one) their pianos are used in premier piano competitions, and its one of the most represented piano brand in piano schools/conservatories around the world (US, Europe and few Asian countries).