Appraisal and donating a collection

Chuck Guzis 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
woth $100.

Cheers,
Chuck





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