Bill,
I think, in many cases, the fair market value is very vague and uncertain.
Think of the art world, what is a Picasso worth? If it is a painting (not
a print) there is only one copy. Its value is what it sold for most
recently; you might be able to adjust the price for inflation.
Few shells are unique; excepting holotypes when no other specimen is
known. If shells were purchased, the purchase price is an indication. If
self collected, prices charged by others are a useful indication of worth.
Reviewing dealer lists can help; there is much variation here. How much
did the dealer pay for it and the size, and quality all come to bear on
the value placed on the shell. Was it from an uncommon locality or from a
famous collection, is it an unusual form or color, etc, etc.
I believe that Tom Rice generated his list by reviewing the lists of many
dealers and then came up with ranges for the mollusks on his list. When I
try to price a shell, I will look at the lists for several dealers (I keep
about 15 bookmarked on my computer). Keep in mind that someone selling a
shell from China or Australia that is local to where the shell was found
may sell it for less than a dealer from Europe or North America and vice
versa.
There are many shells that never seem to appear on lists. Mostly these are
very common specimens that would not generate much income for the seller
or for which there may be little interest. The families Volutidae,
Conidae, Cypraeidae, and Muricidae command higher prices that Veneridae or
Sphaeriidae.
In the end, it is what you feel that you can defend if you are audited by
the IRS. Some folks that I know just put a price on the most unique and
expensive specimens and price the rest at a nominal value such as
$1-5/lot.
> Great discussion.
>
> One area of the topic that still seems a bit unclear is how to determine
> "fair market value" of a shell collection. Since thresholds of value
> ($500,
> $5,000, etc.) are important, is there a simple way to take this first
> step?
>
> While internet auctions, lists, and mailed dealer lists will have offers
> for
> some shells, there are many species that have not been recently offered
> for
> sale. How are these priced? Yes, some species have dropped dramatically
> in value - but other species found in old collections (e.g. found in areas
> now protected or depleted) seem to be no longer available on the market.
> Is
> there a fair way to price these?
>
> Tom Rice used to publish a guide to dealers prices asked for shells. It
> had
> many problems, but it was widely recognized among collectors and dealers
> as
> a source of pricing information. This is no longer being produced. Does
> anyone know if another individual or group is planning to publish a
> replacement for "Rice's prices"?
>
> If not, are there any other tools available for collectors and heirs who
> want to do a "self-appraisal" of a shell collection?
>
> Bill Fenzan
> Norfolk, VA
>
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Regards,
Charlie
.................................................
Charlie Sturm
Research Associate - Section of Mollusks
Carnegie Museum of Natural History
Pittsburgh, PA, USA
Assistant Professor - Family Medicine
Fellow-American Academy of Family Practice
Fellow-Academy of Wilderness Medicine
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