-------- Original Message --------
Subject: Re: [TheThinkTank] Appraising the value of a bike
From:
mfen651@aol.com
Date: Thu, August 07, 2014 1:06 pm
To:
thethinktank@lists.bikecollectives.org
Long shot here, but this is not a matter of IRS or Ministry of CD, its a matter of market.
I've traded in exotic cars and rare aviation artifacts for many years. I've seen all sorts of things claimed to have all sorts of value. At the end of the day, if its a collectable and has value, why would she be donating it to a collective? Because she can't sell it, that's why.
However the bottom line is what will the market pay for it? If she is going to donate it to you, it has no value, unless she can (a) substantiate that it is 24kt gold, note gold chrome. (b) That there is a market for it. The last point (b) is why the IRS and Finance Ministry would both frown on the recipient determining the value in the absence of any substantial evidence for that value.
Somewhere in Canada there is someone who is a purported "expert" in bicycles and another who might likely be a metallurgist and can chemically or otherwise verify the gold v. chrome matter. Then the "expert" should be able to determine if there is a market for this bike regardless of gold v. chrome.
Good luck. Would enjoy knowing the outcome.
Thank you
Matt
-----Original Message-----
From: sheldon mains <
sheldon@spokesconnect.org>
To: The Think Tank <
thethinktank@lists.bikecollectives.org>
Sent: Thu, Aug 7, 2014 3:02 pm
Subject: Re: [TheThinkTank] Appraising the value of a bike
The IRS really frowns on the recipient of donated goods providing a value. She should get it appraised herself. With the special condition, it may be more difficult. Maybe an antique dealer would be a good bet.
sheldon
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