A special meeting of the Long Island Nassau Chapter, PTG was held on October 14, 2014, at Faust Harrison Pianos at 277 Walt Whitman Road, Huntington Station, N.Y. Eight members and one guest were in attendance. Coffee and pastries were graciously provided by our hosts.

President Slavin called the meeting to order at 6:00 p.m.

There was no regular business meeting, in order to proceed directly to the technical presentation.

It was noted that the annual Holiday Party will be Tuesday, December 2, 2014

The guest speaker for the evening was Josh Faust of Faust Harrison Pianos. Josh spoke of his position and responsibilities within the company, and the opening of the fourth showroom by the family in Fairfield, CT. He also informed us of the product lines carried by Faust Harrison, and the staffing of the different showrooms. The discussion was of the valuation of used pianos, emphasizing the great difference between replacement cost and real market value. He explained how dealers arrive at the price they will offer for a used piano, and the many business costs involved to determine that number, and the reason the dealer value is the lowest. Also explained were the three options a piano owner has to sell their instrument. Josh noted that Faust Harrison primarily will only accept Steinway or Yamaha pianos for resale, due to name recognition. His presentation was very informative and revealed much inside information from a high-end piano dealer about the retail business of buying and selling of new and used instruments, including the financial aspects of which we as technicians are usually unaware. The meeting adjourned at 8:00 p.m., although many remained to ask additional questions and continue the discussion informally.