[78-L] value of a collection for bankruptcy

[Glenn Longwell]

A few years back I donated a bunch of records to Goodwill.  When I went through Turbotax I thought I recall a suggested price for records for deduction purposes was $1 each.  I'm not 100% sure but that's what I recall and I'm no where near that data to check.
Glenn

--- On Sun, 1/22/12, David Lennick <dlennick at sympatico.ca> wrote:

From: David Lennick <dlennick at sympatico.ca>
Subject: Re: [78-L] value of a collection for bankruptcy
To: "78-L Mail List" <78-l at klickitat.78online.com>
Date: Sunday, January 22, 2012, 12:02 AM

I did an assessment a few years ago for someone who needed his collection 
appraised as part of a divorce settlement. His collection is large and mostly 
classical and jazz, and consisted of good stuff, but we still agreed on a value 
of something like $1.25 per lp and $2 per CD..not based on yard sale prices but 
something between thrift stores and used record dealers around Toronto.

dl

On 1/21/2012 11:49 PM, 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.
>
>
> 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.
>
>
> As a collector, not a dealer, I would appreciate hearing from the pros on the list if this is a reasonable assessment. Remember it is for bankruptcy, not insurance.
>
>
> He has about 700 records and 125 CDs.
>
> The least I can do for him is to get him an authoritative assessment.
>
>
> He does not need a list of songs about bankruptcy although I am sure that one will be forthcoming.
>
> Thank you
>
>
> Eric Goldberg
> ________________________________
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