"Rebuilt" and "restored" are not standardized, protected terms - a listing can use either word for anything from a complete, factory-spec overhaul to a re-polished cabinet with no real mechanical work done.
What a genuine full rebuild typically includes
- New soundboard or a professionally re-crowned original one.
- New strings across the whole piano.
- A new or fully reconditioned action, including hammers.
- Refinished case and often new pinblock (the block the tuning pins are driven into).
Questions worth asking a seller
- What specific parts were replaced, and when?
- Was the work done by a certified piano technician or rebuilding shop, and is there documentation or a receipt?
- Was original manufacturer-spec material used, or generic aftermarket parts?
A genuinely well-documented rebuild by a reputable shop can bring an older piano's playing and tonal qualities close to new - but it should be priced and verified accordingly, not taken on faith from a listing's wording alone.