What is a fair price for a Fender Rhodes Piano?

These days $1000 USD is around the average price for a Rhodes in very good condition, with all of the keys working and no visible damage. For a piano that is in "living room" condition (not gigged, used in a studio, etc.) you will start seeing prices around $1500, and when it has been professionally restored it will be $2000 or more. Fender Rhodes models before 1969 have a somewhat different sound and will be valued because of this, in addition to collectibility and the overall cool look of the various pianos from that era.

With the exception of the Mark V, the Rhodes Pianos from the 1980's may have price tags that are way too high for what you are getting. The cosmetics may be good, but take into consideration that the Mark II's and Rhodes 54's produced in 1980 had white-wrapped pickups what were defective and are very likely to go dead one-by-one if they haven't already. Then in 1981 there was the switch from wood to all-plastic keys, which gave the action a heavy feel like a digital piano. The 1984 Mark V, however, was possibly the highest quality Rhodes ever made.

It is worth noting that the infamous and much-despised Rhodes Electronic Piano Model 3363 (a.k.a. ARP Electronic Piano or "4-Voice") has become strangely popular due to Alicia Keys, or more accurately her producer who thought the sound would be both fresh and vintage. The Roland MK-80 has not been blessed with such a resurgence, but as a late 80's digital piano it wasn't half bad. In either case, you are paying for an interesting old synthesizer, so don't expect to get the "Rhodes Sound" out of them....