FREQUENTLY ASKED QUESTIONS
What is the cost of an appraisal of books, manuscripts, documents, maps and other print material?
Every appraisal is unique. The number of items and the complexity of the appraisal determine the cost of the appraisal. Mr. Aimone discusses the scope and cost of the appraisal with each client in an initial complementary telephone consultation.
What are the Uniform Standards of Professional Appraisal Practice (USPAP)?
USPAP represents the accepted and recognized standards of appraisal practice and was developed to maintain a high level of trust in the professional appraisal practice. The Appraisal Foundation, which develops and updates USPAP, is authorized by Congress as the source of appraisal standards and appraiser qualifications. All federal transactions are required to be in compliance with USPAP and, in general, all government agencies and appraisal organizations require compliance with USPAP.
What factors affect the value of books, documents and maps?
Just because a book, document or map is old does not mean it is valuable. Many factors are considered in an appraisal; a complete discussion of all the factors is beyond the scope of this website. However, supply and demand is the overriding driver of the monetary value, but demand (and sometimes, supply) is volatile. A particular author or subject may be very popular with collectors one year and fall out of favor in another year. Condition of printed material, of course, also greatly impacts value. For books, the type and condition of the binding is also important, as is presence and condition of a dust jacket (for books issued with dust jackets). A book or document with a proven celebrity connection, such as proof of ownership by a celebrity, or an autograph, inscription or artwork done by a celebrity, can also greatly impact value. First editions of collectible books are typically more valuable than later editions. Content is often the most critical factor in determining value of a manuscript. Content that is detailed or extensive enough to shed new light on a subject and that can be used by a researcher typically increases its monetary value.
Do I need an appraisal to donate books and documents?
If you anticipate taking a tax deduction for a donation in excess of $5,000, the IRS requires a qualified appraisal of the donated property. The client must complete Section B of IRS Form 8283 and attach it and the appraisal report to the tax return. The organization receiving the donation must indicate in writing their acceptance of the donation. The IRS requires that the appraised value be the fair market value of the material, which the IRS defines as "The price of exchange between willing buyer and willing seller, neither having to buy or sell, and both having a reasonable knowledge of all the revelant facts." The IRS has numerous specific regulations regarding donations. Please review IRS Publication 526. Mr. Aimone will be happy to discuss the pertinent details with a client wishing to make a large donation.
Every appraisal is unique. The number of items and the complexity of the appraisal determine the cost of the appraisal. Mr. Aimone discusses the scope and cost of the appraisal with each client in an initial complementary telephone consultation.
What are the Uniform Standards of Professional Appraisal Practice (USPAP)?
USPAP represents the accepted and recognized standards of appraisal practice and was developed to maintain a high level of trust in the professional appraisal practice. The Appraisal Foundation, which develops and updates USPAP, is authorized by Congress as the source of appraisal standards and appraiser qualifications. All federal transactions are required to be in compliance with USPAP and, in general, all government agencies and appraisal organizations require compliance with USPAP.
What factors affect the value of books, documents and maps?
Just because a book, document or map is old does not mean it is valuable. Many factors are considered in an appraisal; a complete discussion of all the factors is beyond the scope of this website. However, supply and demand is the overriding driver of the monetary value, but demand (and sometimes, supply) is volatile. A particular author or subject may be very popular with collectors one year and fall out of favor in another year. Condition of printed material, of course, also greatly impacts value. For books, the type and condition of the binding is also important, as is presence and condition of a dust jacket (for books issued with dust jackets). A book or document with a proven celebrity connection, such as proof of ownership by a celebrity, or an autograph, inscription or artwork done by a celebrity, can also greatly impact value. First editions of collectible books are typically more valuable than later editions. Content is often the most critical factor in determining value of a manuscript. Content that is detailed or extensive enough to shed new light on a subject and that can be used by a researcher typically increases its monetary value.
Do I need an appraisal to donate books and documents?
If you anticipate taking a tax deduction for a donation in excess of $5,000, the IRS requires a qualified appraisal of the donated property. The client must complete Section B of IRS Form 8283 and attach it and the appraisal report to the tax return. The organization receiving the donation must indicate in writing their acceptance of the donation. The IRS requires that the appraised value be the fair market value of the material, which the IRS defines as "The price of exchange between willing buyer and willing seller, neither having to buy or sell, and both having a reasonable knowledge of all the revelant facts." The IRS has numerous specific regulations regarding donations. Please review IRS Publication 526. Mr. Aimone will be happy to discuss the pertinent details with a client wishing to make a large donation.
Mr. Alan Aimone welcomes your inquiry regarding your appraisal needs or questions pertaining to books, manuscripts, documents, maps, historic photographs or other print material:
aimoneappraisal@gmail.com 702-778-1216 (office) 702-471-8697 (mobil)
aimoneappraisal@gmail.com 702-778-1216 (office) 702-471-8697 (mobil)