[78-L] value of a collection for bankruptcy

[Julian Vein]

On 22/01/12 04:49, Eric Goldberg wrote:
> A good friend is facing bankruptcy and his lawyer asked him for the value of everything he owns including his record collection. I told him to place a value of 25 cents per record since that is what the local library sells them for at its library fair. I also told him to value his CD's at $1.00 a disk. I doubt that he could realize even the 25 cent per recordif  he tried to sell them, but he does need to present a value.
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> It is a nice collection of jazz. big band and vocalist LPs that are fairly common to people with good taste. There are no real rarities in mint condition.
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> Eric Goldberg
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In his case, we are talking about a "quick sale" price rather than what 
they would fetch on Eplay or if they were put into the hands of a 
reputable dealer/auctioneer on consignment, which would be appropriate 
for probate purposes. Perhaps you should factor in the cost of a 
dumpster for the stuff that can't be shifted?

       Julian Vein