Appraisal and donating a collection
cclist at sydex.com
Tue Nov 22 20:14:59 CST 2005
On 11/22/2005 at 6:33 PM Keys wrote:
>Museum's can NOT give pricing information to the donor, it's an IRS rule.
How much are we talking about here? I've never given anything to a museum
for tax credit, but have given musical instruments to schools. The
conversation went like this:
Me: I have a tuba for you.
Them: Cool. You want a receipt?
Me: That would be nice.
Them: How much should we make it out for?
Me: (Giving my best guess, relatively certain that I'll be backed up by
the local music store who know me very well)
Them: Here you go.
We're not talking about artworks here, are we? If the donation were in the
5- or 6-digit range, yes, I'd probably hire an appraiser. But there are
limits. It'd be plain silly to pay an appraiser $500 to appraise a gift
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