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http://www.robertbdance.com/fairmarket.html
Artists' Fair-Market Value Deduction Bills Making the Case to Congress to Treat Artists Like All Other Taxpayers. BACKGROUND In 1969 when Congress repealed legislation allowing artists, writers and composers to take a fair-market value deduction for their works donated to a museum, library or archive, it essentially deprived Americans of their ...
https://www.artsy.net/article/artsy-editorial-risks-auction-prices-artworks-fair-market-value
Nov 27, 2018 · The Internal Revenue Service (IRS) defines fair market value as the price paid between a willing buyer and a willing seller, without external encumbrances and with a shared set of relevant facts. It views the price achieved for an artwork at auction (including buyer’s premium) as the fair market value benchmark for that artwork, because of ...
https://www.artinsurancenow.com/blog/fair-market-and-insurance-value-for-works-of-art/
Oct 01, 2018 · Fine-Art Insurance valuations aren’t so complicated, as some may think. Here is the breakdown. The IRS defines fair market value as the price that property would sell for on the open market, as agreed upon between a willing buyer and a willing seller, with neither being required to act and both having a reasonable knowledge of the relevant facts.
https://www.fineartwealth.com/art-valuations
Comaparative market analysis of historical art price indices from a live database of approximately 500,000 artists, plus sales results from over 4,500 global auction houses dating back over 50 years is used to establish independent value of your fine art according to your purpose, including: Fair Market Valuation. Replacement Value (Insurance ...
https://www.allaboutestates.ca/art-and-fair-market-value/
Nov 29, 2018 · In estates, the art may be donated to the foundation and a tax receipt is issued for fair market value based on a qualified appraisal. The foundation may then sell the work at auction. Even if the estimate is close to the sale price, the estate will be better off if the foundation assumes the transaction costs of the selling the work.
https://www.artbusiness.com/appart.html
This is not necessarily the case; art appraisals may or may not have any relation to what would be a reasonable price to pay, often referred to as the art's fair market value (FMV). Fair market value as defined by Internal Revenue Service Publication 561 "is the price that property would sell for …
https://www.irs.gov/publications/p561
Fair market value. Fair market value (FMV) is the price that property would sell for on the open market. It is the price that would be agreed on between a willing buyer and a willing seller, with neither being required to act, and both having reasonable knowledge of the relevant facts.
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