Apfelbaum’s Corner – Volume 36
When a stamp collector dies, his collection dies. His collection must be appraised in order to set its value for estate and inheritance tax purposes. This is a task that should only be entrusted to professional philatelists who are familiar with the type of collection involved and its market value.
On hundreds of occasions we have seen long typewritten lists of the contents of a collection that listed every last two-cent item in the collection. The preparations of these lists are not only real labor but the fruits of the labor are absolutely meaningless.
What is needed is a professional evaluation of what a collection can be sold for. This is rarely catalog value. Professional appraisers will value the collection by the worth of the material of value that is included in the property.
Knowledgeable buyers will never pay more than so-much-per-hundred or so-much-per-thousand for very low valued or common material. They do pay good prices for scarce items and material in demand. The important point is, when the dealer prepares his estimate of value for lawyers, executors, trust officers or other interested persons, his appraisal should be almost on the “nose” as to what can be realized through a sale.