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Asking about monetary value of a horn but not selling it



 
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hibidogrulez
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Joined: 25 Jun 2020
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Location: Europe

PostPosted: Sat Jul 11, 2020 12:41 am    Post subject: Asking about monetary value of a horn but not selling it Reply with quote

...if I were to do that, where would I post such a thread?
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James Becker
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Joined: 02 Sep 2005
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Location: Littleton, MA

PostPosted: Sat Jul 11, 2020 5:52 am    Post subject: Reply with quote

For purposes of insurance it's common practice to get an appraisal of current replacement cost. For a fee Osmun Music can provide a document suitable for insurance coverage, with a sliding scale for multiple instrument appraisals. Please contact sales@osmun.com or phone Tim Cote at 978-823-0580 to get started on the appraisal process.

DISCLAIMER. In no way does an appraised replacement cost represent market value. As a rule of thumb we believe 2/3 of new, less the cost of necessary repairs is a good metric of determining fair market price.

A great resource for fair market value is ebay sales history. To paraphrase the old adage. "Market value is what a buyer is willing to pay".

I hope this is helpful.
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James Becker
Brass Repair Specialist Since 1977
Osmun Music Inc.
77 Powdermill Road Rt.62
Acton, MA 01720
www.osmun.com

Our workshop is as close as your nearest UPS store https://www.ups.com/dropoff?loc=en_US
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hibidogrulez
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Joined: 25 Jun 2020
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PostPosted: Sat Aug 01, 2020 10:00 pm    Post subject: Reply with quote

It is, thank you.
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Richard A
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Joined: 11 May 2005
Posts: 691
Location: Rhode Island, USA

PostPosted: Sun Aug 02, 2020 7:49 am    Post subject: Re: Asking about monetary value of a horn but not selling it Reply with quote

hibidogrulez wrote:
...if I were to do that, where would I post such a thread?


Following the reliable guidance of Revenue Ruling 59-60, comparable sales is the gold standard of valuation.

So follow eBay to collect comparable sales.
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I am a Mechanical Engineer and have many years of Social Distancing experience.
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Don Herman rev2
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Joined: 03 May 2005
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Location: Monument, CO

PostPosted: Sun Aug 02, 2020 11:41 am    Post subject: Reply with quote

Horns sub-forum
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Crazy Finn
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Joined: 27 Dec 2001
Posts: 7486
Location: Twin Cities, Minnesota

PostPosted: Sun Aug 02, 2020 12:13 pm    Post subject: Reply with quote

James Becker wrote:
For purposes of insurance it's common practice to get an appraisal of current replacement cost. For a fee Osmun Music can provide a document suitable for insurance coverage, with a sliding scale for multiple instrument appraisals. Please contact sales@osmun.com or phone Tim Cote at 978-823-0580 to get started on the appraisal process.

DISCLAIMER. In no way does an appraised replacement cost represent market value. As a rule of thumb we believe 2/3 of new, less the cost of necessary repairs is a good metric of determining fair market price.

A great resource for fair market value is ebay sales history. To paraphrase the old adage. "Market value is what a buyer is willing to pay".

I hope this is helpful.

The local retail / repair shop I worked at did this as well, occasionally. I don't recall charging anything, but they may already have had the instrument in the queue for work.
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