signing 8283 IRS appraisal form

[Paul McCloud]

Hi, Julia:
    I'm sure you'll get a lot of replies to this.  I work at a piano dealership.  My boss told me to be very careful when doing appraisals, and said I should get an appraiser's license.  If you say, "In MY OPINION, such and such, ...", then you're ok.  If you give a firm statement of value, you'd better be prepared in case you are challenged in court.  This situation you are in could get sticky.  If you are not regularly in the BUSINESS (emphasis here) of appraisals, I'd be reluctant to sign such a document.  At least, you should document everything (photos, statements of the dealer, Ancott prices, etc.).  This could be a real big flag for IRS, especially if it actually sold for only $5k.  Your quote, "I do appraisals on a regular basis" is very significant, and you could easily be in trouble if you answer yes, and it isn't (exactly) true.  
    
    Paul McCloud
    San Diego


----- Original Message ----- 
From: 
To: pianotech at ptg.org
Sent: 04/29/2007 9:48:25 AM 
Subject: signing 8283 IRS appraisal form


Greetings,

          I had a lady customer who wanted an appraisal on the replacement value of her Yamaha C7. It was 1972 manufacture. I completely looked over the piano, and it was as new! She had a humidifier running and told me she had done so since the piano was new. By the looks of the piano I could tell. I couldnt find a thing wrong with it. I wrote a letter stating that I did a full inspection and then I called a dealer and asked what the price of that piano. They told me 30,000.00 So I wrote that the replacement value of the piano was 30K.

       Turns out they sold the piano for 5,000 to a non-profit music group and wrote 25,000.00 off their tax. Now they want me to sign this IRS form. My confidence is shaken, because I am suppose to sign this thing, and it states that "I do appraisals on a regular basis"...however, I do tuning and repair on a regular basis. Am I over-worring here?  I mean, I think the purpose of the form is to confirm that I just dont work at Turkey Hill or K-mart or something and that I do know the value of such things, which I do know. Is there any responsibilty I have over looked. I am tuning, repairing, refurbishing and evaluating for 4 years now. This is a first. 

Thanks in advance,
Julia
Reading, PA






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