- Steinway & Sons builds and sells a little over 3,000 pianos.
- Yamaha sells over 20,000 pianos only in the United States.
- Henry Z. Steinway, 65 years old, retires from the post of the Steinway & Sons chairman (the age of Henry Z. Steinway’s retirement has been determined by his agreement with CBS). Series of gala parties are held to celebrate his 43 years of working at Steinway & Sons, and his retirement. CBS provides Henry Z. Steinway with pension and a spacious office on the second floor of Steinway Building, in exchange of his promotional appearances at conventions, dealers’ meetings and other important marketing and sales events. In that office Henry Z. Steinway will remain, studying the history of Steinway & Sons and preserving company documents and memorabilia, throughout the remaining years of his life.
- The “Alma Tadema Piano” (Steinway & Sons Model D Art-Case piano, #54,538) is sold at an auction for $360,000. (The piano is currently on loan to the Museum of Fine Arts in Boston).