When giving a value for a piano I usually give three or four figures. Next up is what you would pay if you were to buy it secondhand from a dealer. If your piano is over about ten years old the new list price is probably irrelevant as it is probably no longer made. This assumes that the piano is in excellent condition.
Renovation varies from a complete strip down and rebuild to a quick check over and clean up.
These pianos are usually perfectly good for domestic use and some of the better old pianos or most modern pianos will be capable of taking you all the way through to grade eight. If you go to the list of piano ratings you can see my personal rating of different makes.