New Zealand Dollar Hits All time High Against Euro!!
An interesting way to start a piano blog perhaps and many would question the relevancy of the financial markets to music?
However to anyone considering the purchase of any high priced or luxury item at present it is all good news.
Almost exactly four years ago when the world financial markets went into global meltdown, it was the New Zealand dollar that led the charge.
In July 2007 the New Zealand dollar bought .57 euros. In other words we paid $1.75 for every euro.
Six months later and the exchange rate was .38 a massive 33% drop in the NZ dollar. So how does this affect the price of pianos? Lets have a look at the value of a model D-274 Steinway concert grand piano.
In July 2007 with an exchange rate of Euro .57 the List price of a D-274 Concert grand piano was $258,700 inclusive of gst.
Track forward a mere six months to an exchange rate of .38 and the price is $386,500.
The fact that the exchange rate dropped by 33% means a 50% increase in imported goods!!
Well that was the bad news; now - courtesy of a very poor political and economic climate in Greece, Portugal and Ireland - the tables have been turned and the New Zealand dollar is reaching new highs against the Euro.
So now what is the list price of a model D Steinway Concert grand piano? Well, at an exchange rate of almost Euro .6 it is $264,200 which is pretty good considering we have had an increase in gst and four factory price increases.
So the moral of this story if you haven’t already guessed, is buy your new piano now! Like today!! And save a huge amount of money.
And just to make things even easier, Lewis Eady will be holding a special, appointment only, VIP SALE on Friday the 29th and Saturday the 30th of July. This will not be advertised and there will be no ticket prices on the pianos. Just good old fashioned negotiation to give you the very best price and value that we can.
Call John on 021 524409 or David on 09 5244119 to make an appointment.
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