How easy is it to take a tax deduction so you are able to withstand an
audit?  I have heard that in order to do it you need to:

    - learn what credentials are needed for an appraiser (not standard, no
"directory of appraisers", etc.),
    - find an appraiser willing to appraise the collection (many are busy
and do not "enjoy" appraisal work),
    - pay the appraiser (fee can consume the value of the collection),
    - then fill out the tax forms needed to claim the deduction (Which ones?
Any guidance available?).

Has anyone actually gone through the process to obtain a tax write-off for
the sale of a collection?  Was it worth the cost in time and money?

When this topic comes up, we tend to hear from the people who want the
collection (e.g. museums, other advanced collectors, dealers, COA convention
auction chairperson, etc.) who present the topic from their perspective.
What is the perspective of someone with a collection needing to make a
decision?  If you want the best financial return for the collection, how do
you proceed and why?

Bill Fenzan
Norfolk, VA

----- Original Message -----
From: "Charles Sturm" <[log in to unmask]>
To: <[log in to unmask]>
Sent: Thursday, October 28, 2010 9:17 AM
Subject: Re: [CONCH-L] Disposing of collections


> They can also consider donating them to a museum. Most museums do not have
> the funds to purchase collections, however, the donor can deduct the value
> on their tax returns.
>
> I have helped incorporate several collections into the Carnegie Museum's
> collection. All were donated, most donors did not take a tax write off.
> The donors just wanted to know that the collection would be cared for and
> that it would be used by others.

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