Charitable Donations Cost Approach Paintings 
Fine Art Estates
JANUARY 7, 2022
Over the years, I have spent a lot of time on the phone trying to help people determine if the painting they found in a garage sale is worth anything. I took no pleasure in having to explain that they had one of the many reproductions of the painting and their hopes of having won the art lottery was only a lovely dream.
International Society of Appraisers
MARCH 14, 2025
This quote is in the context of IRS Publication 561, which provides guidance for determining fair market value for charitable donations; therefore, this quote must be understood within that specific context and intended use. When determining fair market value, we use the sales comparison approach to analyze comparable sales data (i.e.,
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