Re: [TheThinkTank] Appraising the value of a bike
I agree with Christopher. There are a lot of reasons people donate. I find most people are not greedy. They donate because the like what the organization does. They donate because they want their bike to "have a good home" They donate because they can get a tax break. They donate because they don't want to go through the hassle of selling it. They donate because it is the easiest way to dispose of something.
Yes, some of the bikes we get donated are really just trash and go to our recycler immediately. But we get some great bikes donated that can be rehabilitated and sold or used for a community bike library or used for an Earn-a-Bike program
.............. Sheldon Mains SPOKES Bike Walk Connect www.SpokesConnect.org www.fb.com/SpokesConnect Minneapolis, MN 612/618-7149 Three ways to donate to SPOKES:
- Volunteer. 2. Donate repairable used bikes. 3. Financial donations
always welcome. Check www.SpokesConnect.org for details.
On Thu, Aug 7, 2014 at 11:05 PM, christopher@holisticcycles.com wrote:
Matt, I had a woman who donated her brothers (very nice ) bikes to me, not because she could not sell them,, after his suicide, she just wanted a good person to have these things. She asked me to do good with them. I did just that for her. Not always is something donated because people can not sell it. Christopher Wallace Holistic Cycles 140 Harrison St Oak Park, IL. 60304
-------- 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
.............. Sheldon Mains SPOKES Bike Walk Connect www.SpokesConnect.org www.fb.com/SpokesConnect Minneapolis, MN 612/618-7149 Three ways to donate to SPOKES:
- Volunteer. 2. Donate repairable used bikes. 3. Financial donations
always welcome. Check www.SpokesConnect.org for details.
On Thu, Aug 7, 2014 at 7:25 AM, Rick Nonnekes rnonnekes@gmail.com wrote:
We recently had a lady bring in a bike for donation. It is an early 1980's Rossi Columbia, custom made for her. She's adamant that it is plated with 24k gold - looks like it too (although we're speculating on gold coloured chrome). It's in good condition. Can anyone suggest how we can get it appraised for value?
Cycle Transitions, Cobourg Ontario, Canada
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Okay, perhaps I need to write more exactly, or perhaps readers need to be more open and less judgmental of others who participate.
The question was about valuing a unique item. The inference was that the party in possession placed an extreme value on it.
The statement was clear that it had no knowledge of how to value the item in question.
My suggestion took into account the many people that "donate" items. I can suggest hundreds of reasons people donate beyond the ones put forth by those of you negatively reflecting on my comment.
There is a difference between people who bring in a bike (or any item) for "donation" and leave it, and those that "donate" in exchange for a receipt "for value" with the intention of taking a tax deduction.
I'm not going to address the differences, because they should be clear, but if they are not, then its not for me to teach.
I never said people are greedy, but experience has taught me that if they are seeking a receipt "for value", and are assigned a lower than their estimated value they will show their displeasure.
I'm sure my response to the two comments of negativity will bring more negative responses. Save your time and energy. My comment was what it is, and remains valid.
The reason the taxing authorities don't want direct appraisals, is because everything would be valued significantly below its actual value, enabling the vendor to earn copious ill gotten gains at the expense of the one who donated it.
If that isn't greed, I don't know what is? But then that was your comments, not mine.
Matt
-----Original Message----- From: sheldon mains sheldon@spokesconnect.org To: The Think Tank thethinktank@lists.bikecollectives.org Sent: Fri, Aug 8, 2014 3:49 pm Subject: Re: [TheThinkTank] Appraising the value of a bike
I agree with Christopher. There are a lot of reasons people donate. I find most people are not greedy. They donate because the like what the organization does. They donate because they want their bike to "have a good home" They donate because they can get a tax break. They donate because they don't want to go through the hassle of selling it. They donate because it is the easiest way to dispose of something.
Yes, some of the bikes we get donated are really just trash and go to our recycler immediately. But we get some great bikes donated that can be rehabilitated and sold or used for a community bike library or used for an Earn-a-Bike program
.............. Sheldon Mains SPOKES Bike Walk Connect www.SpokesConnect.org www.fb.com/SpokesConnect Minneapolis, MN 612/618-7149 Three ways to donate to SPOKES:
- Volunteer. 2. Donate repairable used bikes. 3. Financial donations always welcome. Check www.SpokesConnect.org for details.
On Thu, Aug 7, 2014 at 11:05 PM, christopher@holisticcycles.com wrote:
Matt, I had a woman who donated her brothers (very nice ) bikes to me, not because she could not sell them,, after his suicide, she just wanted a good person to have these things. She asked me to do good with them. I did just that for her. Not always is something donated because people can not sell it. Christopher Wallace Holistic Cycles 140 Harrison St Oak Park, IL. 60304
-------- 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
..............
Sheldon Mains
SPOKES Bike Walk Connect
www.SpokesConnect.org www.fb.com/SpokesConnect
Minneapolis, MN 612/618-7149
Three ways to donate to SPOKES:
- Volunteer. 2. Donate repairable used bikes. 3. Financial donations always welcome. Check www.SpokesConnect.org for details.
On Thu, Aug 7, 2014 at 7:25 AM, Rick Nonnekes rnonnekes@gmail.com wrote:
We recently had a lady bring in a bike for donation. It is an early 1980's Rossi Columbia, custom made for her. She's adamant that it is plated with 24k gold - looks like it too (although we're speculating on gold coloured chrome). It's in good condition. Can anyone suggest how we can get it appraised for value?
Cycle Transitions,
Cobourg Ontario, Canada
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The lady who donated the bike had heard about our shop and thought of it when she was clearing her basement. Her husband has a similar bike but doesn't want to part with it yet.
I appreciate all the comments and suggestions. We'll do some research and decide what route we'll take.
Rick
On Fri, Aug 8, 2014 at 3:49 PM, sheldon mains sheldon@spokesconnect.org wrote:
I agree with Christopher. There are a lot of reasons people donate. I find most people are not greedy. They donate because the like what the organization does. They donate because they want their bike to "have a good home" They donate because they can get a tax break. They donate because they don't want to go through the hassle of selling it. They donate because it is the easiest way to dispose of something.
Yes, some of the bikes we get donated are really just trash and go to our recycler immediately. But we get some great bikes donated that can be rehabilitated and sold or used for a community bike library or used for an Earn-a-Bike program
.............. Sheldon Mains SPOKES Bike Walk Connect www.SpokesConnect.org www.fb.com/SpokesConnect Minneapolis, MN 612/618-7149 Three ways to donate to SPOKES:
- Volunteer. 2. Donate repairable used bikes. 3. Financial donations
always welcome. Check www.SpokesConnect.org for details.
On Thu, Aug 7, 2014 at 11:05 PM, christopher@holisticcycles.com wrote:
Matt, I had a woman who donated her brothers (very nice ) bikes to me, not because she could not sell them,, after his suicide, she just wanted a good person to have these things. She asked me to do good with them. I did just that for her. Not always is something donated because people can not sell it. Christopher Wallace Holistic Cycles 140 Harrison St Oak Park, IL. 60304
-------- 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
.............. Sheldon Mains SPOKES Bike Walk Connect www.SpokesConnect.org www.fb.com/SpokesConnect Minneapolis, MN 612/618-7149 Three ways to donate to SPOKES:
- Volunteer. 2. Donate repairable used bikes. 3. Financial donations
always welcome. Check www.SpokesConnect.org for details.
On Thu, Aug 7, 2014 at 7:25 AM, Rick Nonnekes rnonnekes@gmail.com wrote:
We recently had a lady bring in a bike for donation. It is an early 1980's Rossi Columbia, custom made for her. She's adamant that it is plated with 24k gold - looks like it too (although we're speculating on gold coloured chrome). It's in good condition. Can anyone suggest how we can get it appraised for value?
Cycle Transitions, Cobourg Ontario, Canada
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Look on e-bay. There will be similar bikes there. As to value it is whatever she wants in the long run. In the US we do not put a "value" donated stuff for IRS records. That is up to the donator. Except for some items like cars. Those are sold at auctions and the price is the "value". My experience in Cooperative bicycle operations is that the "market price" is not the value determinator and most likely will not be a good measure for the client in question.
Sent from my iPad
On Aug 9, 2014, at 10:45 AM, Rick Nonnekes rnonnekes@gmail.com wrote:
The lady who donated the bike had heard about our shop and thought of it when she was clearing her basement. Her husband has a similar bike but doesn't want to part with it yet.
I appreciate all the comments and suggestions. We'll do some research and decide what route we'll take.
Rick
On Fri, Aug 8, 2014 at 3:49 PM, sheldon mains sheldon@spokesconnect.org wrote: I agree with Christopher. There are a lot of reasons people donate. I find most people are not greedy. They donate because the like what the organization does. They donate because they want their bike to "have a good home" They donate because they can get a tax break. They donate because they don't want to go through the hassle of selling it. They donate because it is the easiest way to dispose of something.
Yes, some of the bikes we get donated are really just trash and go to our recycler immediately. But we get some great bikes donated that can be rehabilitated and sold or used for a community bike library or used for an Earn-a-Bike program
.............. Sheldon Mains SPOKES Bike Walk Connect www.SpokesConnect.org www.fb.com/SpokesConnect Minneapolis, MN 612/618-7149 Three ways to donate to SPOKES:
- Volunteer. 2. Donate repairable used bikes. 3. Financial donations always welcome. Check www.SpokesConnect.org for details.
On Thu, Aug 7, 2014 at 11:05 PM, christopher@holisticcycles.com wrote: Matt, I had a woman who donated her brothers (very nice ) bikes to me, not because she could not sell them,, after his suicide, she just wanted a good person to have these things. She asked me to do good with them. I did just that for her. Not always is something donated because people can not sell it. Christopher Wallace Holistic Cycles 140 Harrison St Oak Park, IL. 60304
-------- 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
.............. Sheldon Mains SPOKES Bike Walk Connect www.SpokesConnect.org www.fb.com/SpokesConnect Minneapolis, MN 612/618-7149 Three ways to donate to SPOKES:
- Volunteer. 2. Donate repairable used bikes. 3. Financial donations always welcome. Check www.SpokesConnect.org for details.
On Thu, Aug 7, 2014 at 7:25 AM, Rick Nonnekes rnonnekes@gmail.com wrote: We recently had a lady bring in a bike for donation. It is an early 1980's Rossi Columbia, custom made for her. She's adamant that it is plated with 24k gold - looks like it too (although we're speculating on gold coloured chrome). It's in good condition. Can anyone suggest how we can get it appraised for value?
Cycle Transitions, Cobourg Ontario, Canada
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The best resources we use include: http://www.bicyclebluebook.com/, Ebay, and Craigslist.
But honestly, when it comes to a donation, we ask the donor to give an estimate they feel its worth, and when they don't know, we help them. From what I understand, it's between the donor and the IRS when it comes to tax deductions. So we don't care what they want to estimate it at, and we've never had an issue.
-Reda
On Sat, Aug 9, 2014 at 1:45 PM, Rick Nonnekes rnonnekes@gmail.com wrote:
The lady who donated the bike had heard about our shop and thought of it when she was clearing her basement. Her husband has a similar bike but doesn't want to part with it yet.
I appreciate all the comments and suggestions. We'll do some research and decide what route we'll take.
Rick
On Fri, Aug 8, 2014 at 3:49 PM, sheldon mains sheldon@spokesconnect.org wrote:
I agree with Christopher. There are a lot of reasons people donate. I find most people are not greedy. They donate because the like what the organization does. They donate because they want their bike to "have a good home" They donate because they can get a tax break. They donate because they don't want to go through the hassle of selling it. They donate because it is the easiest way to dispose of something.
Yes, some of the bikes we get donated are really just trash and go to our recycler immediately. But we get some great bikes donated that can be rehabilitated and sold or used for a community bike library or used for an Earn-a-Bike program
.............. Sheldon Mains SPOKES Bike Walk Connect www.SpokesConnect.org www.fb.com/SpokesConnect Minneapolis, MN 612/618-7149 Three ways to donate to SPOKES:
- Volunteer. 2. Donate repairable used bikes. 3. Financial donations
always welcome. Check www.SpokesConnect.org for details.
On Thu, Aug 7, 2014 at 11:05 PM, christopher@holisticcycles.com wrote:
Matt, I had a woman who donated her brothers (very nice ) bikes to me, not because she could not sell them,, after his suicide, she just wanted a good person to have these things. She asked me to do good with them. I did just that for her. Not always is something donated because people can not sell it. Christopher Wallace Holistic Cycles 140 Harrison St Oak Park, IL. 60304
-------- 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
.............. Sheldon Mains SPOKES Bike Walk Connect www.SpokesConnect.org www.fb.com/SpokesConnect Minneapolis, MN 612/618-7149 Three ways to donate to SPOKES:
- Volunteer. 2. Donate repairable used bikes. 3. Financial donations
always welcome. Check www.SpokesConnect.org for details.
On Thu, Aug 7, 2014 at 7:25 AM, Rick Nonnekes rnonnekes@gmail.com wrote:
We recently had a lady bring in a bike for donation. It is an early 1980's Rossi Columbia, custom made for her. She's adamant that it is plated with 24k gold - looks like it too (although we're speculating on gold coloured chrome). It's in good condition. Can anyone suggest how we can get it appraised for value?
Cycle Transitions, Cobourg Ontario, Canada
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I commented the other day regarding this matter. My comments were judged harshly rather than accepted for the assistance it could have provided. I responded and have yet to see it published. I am repeating my original response at the end of this post.
New information has emerged that is potentially very important as far as the collectability of this bike. You can choose to ignore it not only at your own peril, but at the risk of destroying a very valuable set.
I think everyone will agree 24kt gold plated bikes aren't the norm. Now we learn that there were at least two. Why? Are there more than two? Who are/is this couple and how/why do they come into possession of these bikes? Very potentially there is a story here that is every bit as important as the bikes themselves, if not more so. That story needs to be uncovered and quickly. The number of these potentially gold plated bikes makes all the difference in the world. Was a limited edition? Was it made for a particular person or friend? Was it intended as a trophy or reward? They story might indicate the significance of the bikes and more to the point their gold plated garb. I gave my (now ex) girlfriend an "engagement bike" to go with the ring. I only wish I might have afforded to have it diamond dusted or something of the sort. Yes, I did have the bikes made to match. If the Prince had given the dutchess a bike, you could be sure it would be a collectable, but imagine if it was a set treated in 24kt gold.
That there are two of these potentially 24kt gold bikes in the possession of one couple begs to ask these questions, which could greatly enhance the value.
Personally, also, I wouldn't break up the set unless someone else threatens to do so. I would urge the women to hold onto hers until her husband it prepared to let his go as well. The matched set is undoubtedly worth more, and more marketable than the individual one.
If you do not agree with what I have written, that is fine. It is your opinion and you are welcomed to it. Do not bother to write to tell me I am wrong. I am not. If you would like to respond with a thought or comment, or add to the discussion, I encourage it.
Thanks,
Matt
Below is my comment responding to two individuals who chose to be judgmental and critical of my original comment. That comment apparently did not make it onto the board. Hopefully it now will. My comment was founded in good intention, experience and knowledge. It should have been helpful, and not attacked. That (responding) comment is below:
Okay, perhaps I need to write more exactingly, or perhaps readers need to be more open and less judgmental of others who participate.
The question was about valuing a unique item. The inference was that the party in possession placed an extreme value on it.
The statement was clear that it had no knowledge of how to value the item in question.
My suggestion took into account the many people that "donate" items. I can suggest hundreds of reasons people donate beyond the ones put forth by those of you negatively reflecting on my comment.
There is a difference between people who bring in a bike (or any item) for "donation" and leave it, and those that "donate" in exchange for a receipt "for value" with the intention of taking a tax deduction or otherwise. If you check a dictionary the term donation isn't associated with a tax return or other value, its associated only with helping an individual or organization.
I'm not going to address the differences, because they should be clear, but if they are not, then its not for me to teach.
I never said people are greedy, but experience has taught me that if they are seeking a receipt "for value", and are assigned a lower than their estimated value they will show their displeasure.
I'm sure my response to the two comments of negativity will bring more negative responses. Save your time and energy. My comment was what it is, and remains valid.
The reason the taxing authorities don't want direct appraisals, is because everything would be valued significantly below its actual value, enabling the vendor to earn copious ill gotten gains at the expense of the one who donated it.
If that isn't greed, I don't know what is? But then that was your comments, not mine.
Matt
-----Original Message----- From: Reda Ashour redajashour@gmail.com To: The Think Tank thethinktank@lists.bikecollectives.org Sent: Mon, Aug 11, 2014 1:19 pm Subject: Re: [TheThinkTank] Appraising the value of a bike
The best resources we use include: http://www.bicyclebluebook.com/, Ebay, and Craigslist.
But honestly, when it comes to a donation, we ask the donor to give an estimate they feel its worth, and when they don't know, we help them. From what I understand, it's between the donor and the IRS when it comes to tax deductions. So we don't care what they want to estimate it at, and we've never had an issue.
-Reda
On Sat, Aug 9, 2014 at 1:45 PM, Rick Nonnekes rnonnekes@gmail.com wrote:
The lady who donated the bike had heard about our shop and thought of it when she was clearing her basement. Her husband has a similar bike but doesn't want to part with it yet.
I appreciate all the comments and suggestions. We'll do some research and decide what route we'll take.
Rick
On Fri, Aug 8, 2014 at 3:49 PM, sheldon mains sheldon@spokesconnect.org wrote:
I agree with Christopher. There are a lot of reasons people donate. I find most people are not greedy. They donate because the like what the organization does. They donate because they want their bike to "have a good home" They donate because they can get a tax break. They donate because they don't want to go through the hassle of selling it. They donate because it is the easiest way to dispose of something.
Yes, some of the bikes we get donated are really just trash and go to our recycler immediately. But we get some great bikes donated that can be rehabilitated and sold or used for a community bike library or used for an Earn-a-Bike program
.............. Sheldon Mains SPOKES Bike Walk Connect www.SpokesConnect.org www.fb.com/SpokesConnect Minneapolis, MN 612/618-7149 Three ways to donate to SPOKES:
- Volunteer. 2. Donate repairable used bikes. 3. Financial donations always welcome. Check www.SpokesConnect.org for details.
On Thu, Aug 7, 2014 at 11:05 PM, christopher@holisticcycles.com wrote:
Matt, I had a woman who donated her brothers (very nice ) bikes to me, not because she could not sell them,, after his suicide, she just wanted a good person to have these things. She asked me to do good with them. I did just that for her. Not always is something donated because people can not sell it. Christopher Wallace Holistic Cycles 140 Harrison St Oak Park, IL. 60304
-------- 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
..............
Sheldon Mains
SPOKES Bike Walk Connect
www.SpokesConnect.org www.fb.com/SpokesConnect
Minneapolis, MN 612/618-7149
Three ways to donate to SPOKES:
- Volunteer. 2. Donate repairable used bikes. 3. Financial donations always welcome. Check www.SpokesConnect.org for details.
On Thu, Aug 7, 2014 at 7:25 AM, Rick Nonnekes rnonnekes@gmail.com wrote:
We recently had a lady bring in a bike for donation. It is an early 1980's Rossi Columbia, custom made for her. She's adamant that it is plated with 24k gold - looks like it too (although we're speculating on gold coloured chrome). It's in good condition. Can anyone suggest how we can get it appraised for value?
Cycle Transitions,
Cobourg Ontario, Canada
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participants (6)
-
christopher＠holisticcycles.com -
Jim -
mfen651＠aol.com -
Reda Ashour -
Rick Nonnekes -
sheldon mains