I am considering making a gift to a museum and I have been advised to have its value determined. I'm curious to know how folks have approached valuations of artifacts that have historical significance contributing to the value beyond their non-historic market value.
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Anyone ever donate an artifact to a museum?
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Last: 1 mo ago by Ryan the Temp
I've donated three WWII model airplanes I built to the Scale Model Museum located above the USS Lexington in Corpus Christi.
I recall getting a determination on the value of the built models, but I don't recall if that valuation was ever listed anywhere (taxes or whatever).
I recall getting a determination on the value of the built models, but I don't recall if that valuation was ever listed anywhere (taxes or whatever).
Unless it is very valuable, and you are also itemizing deductions, is it worth the hassle?
And I'd be interested to hear what it is
And I'd be interested to hear what it is
If you don't mind me asking, what item are you considering to donate?
A pocket watch that was given by the RVs to W.T. Burns '20. He was captain of the RVs and Corps Commander. If you have a copy of Keepers of the Spirit, the facing page photo of the Corps Commander and Commandant on Simpson drill field is him.HillCountry15 said:
If you don't mind me asking, what item are you considering to donate?
Burns' nephew gave me the watch back in 2002. His wish was that while he was still alive it should be "enjoyed" by members of the Corps, which I did to the best of my ability by allowing Corps commanders to carry it during Final Review quite a few times. Tom died a couple years ago and I haven't made it to A&M for Final Review in several years, so I am considering donating it to the Corps Center.
See above.CanyonAg77 said:
And I'd be interested to hear what it is
Pretty cool.
And do you really want to have it appraised? My guess is that the $$$ value is below the sentimental value.
But if you have it appraised, do you want to open the can o'worms as to why you didn't declare it as income when you received it?
And as I said above, unless you will be itemizing, and the value is substantial, I don't see the point of an appraisal.
Don't we have a guy on the board who works at the Eisenhower Museum in Abilene, Kansas? Maybe he could answer as to whether the museum needs the aprasial.
And do you really want to have it appraised? My guess is that the $$$ value is below the sentimental value.
But if you have it appraised, do you want to open the can o'worms as to why you didn't declare it as income when you received it?
And as I said above, unless you will be itemizing, and the value is substantial, I don't see the point of an appraisal.
Don't we have a guy on the board who works at the Eisenhower Museum in Abilene, Kansas? Maybe he could answer as to whether the museum needs the aprasial.
By itself as a watch without considering its provenance, it's worth maybe $200-300.
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