January 2008

 Certified Musical Instrument Appraiser

As a Candidate Member of the American Society of Appraisers, Rebecca is now a Qualified Musical Instrument Appraiser.

In February 2007 the Internal Revenue Service has put a restriction for amounts claimed for donated items (including musical instruments) or settlements of Estates. A report from a “Qualified Appraiser” must be presented to the IRS. Insurance companies are now following suit. According to the IRS a “Qualified Appraiser” is one who has been working in this field of valuation, has formal education in appraisal studies and belongs to a recognized appraisal organization.
We are recommending for your own personal instruments that you make sure you are covered under insurance policies. Most insurance policies have a limit of $2,000 on Musical Instruments unless it is a “scheduled item” or has a “Rider”. The $2,000 limit will leave most musicians very vulnerable in losing their valuable instruments in case of fire or theft. The additional cost in insurance is minor to what you can lose

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