FAQs
About Appraisals & Donations
APPRAISALS
In
keeping with current ethical and legal restrictions, the
staff of the museum is not permitted to give appraisals
or opinions of monetary value of art or other objects.
How
can I find out how much my cartoon art, cartoon collectible,
or comic book is worth?
The Cartoon Art Museum recommends that you check the
following sources to learn more about the value of cartoon
art and objects:
Price
Guides and Books on Collectibles:
Jerry Weist, The Comic Art Price Guide: Second
Edition, ......Arcturian
Books (2000)
Alex G. Malloy, Comics Values Annual 2000: The Comic
......Books Price Guide
Robert M. Overstreet, The Official Overstreet Comic
Book ......Price Guide
31st ed. (2001)
Brent Frankenhoff et al., 2001 Comic Book Checklist
and ......Price Guide
7th Ed.(2001)
Andrea Podley and Derrick Ban, Peanuts Collectibles:
......Identification
and Value Guide (1999)
Freddi Karin Margolin, Peanuts: The Home Collection:
A ......Collector’s
Guide to Identification and Value (1999)
William D. Larue, Collecting Simpsons! An Unofficial
Guide ......to Merchandise
from the Simpsons (1999)
Beckett Publications Staff, Beckett Pokemon Collector
Price ......Guide (2000)
CheckerBee Publishing, Pokemaon’s collector’s
Value ......Guide (1999)
Carole Bess White et al., Collector’s Guide to
Lunchboxes: ......Metal,
Vinyl, Plastic: Identification & Values(2000)
Auction
catalogs
Internet
Online auction sites (i.e. eBay)
Auction house sites (i.e. Illustration House, Sotheby’s,
Christie’s)
Dealers
of cartoon art, comic books, or cartoon-related merchandise.
IRS
Publication 561 "Determining the Value of
Donated Property"
Can
you recommend an appraiser?
The Cartoon Research Library at Ohio State has a list
of appraisers at the following web site:
http://www.lib.ohio-state.edu/OSU_profile/cgaweb/appraise.htm
Inclusion
on this list in no way implies an endorsement or recommendation
by either the Cartoon Research Library or the Cartoon
Art Museum.
DONATING
CARTOON ART
Why
should I donate my original cartoon art to the Museum?
Donating your cartoon art to the Museum ensures that it
will be preserved for future generations to enjoy. Objects
from our permanent collection are frequently exhibited
and the collection is available for use by scholars and
other qualified researchers.
What
types of art does the museum collect?
The museum collects all types of original art including
art from animation, editorial cartoons, comic strips,
comic books, graphic novels, magazine cartoons, advertising
cartoons and underground cartoons.
Does
the museum accept comic books?
Due to space and other concerns, the museum can only accept
certain comic books such as Golden and Silver Age comic
Books.
Does
the museum accept cartoon books?
The museum is happy to accept cartoon books for its research
library including reference books, how-to books, cartoon
collections, cartoonist biographies, and cartoon-related
periodicals. In certain cases, rare cartoon books will
be accessioned into the permanent collection.
Does
the museum collect cartoon merchandise?
The museum does collect merchandise, toys, and other 3-D
objects related to cartoons.
What
are the tax benefits of donating?
The Cartoon Art Museum is a nonprofit, 501(c)(3) organization.
The fair-market value of any donation is tax deductible.
What
is "fair-market value"?
The fair-market value is defined as "the price at
which the property would change hands between a willing
buyer and a willing seller, neither being under any compulsion
to buy or sell, and both having reasonable knowledge of
relevant facts." - Income Tax Regs. Sec. 1.170A-1(c)(2)
Does
the IRS require an appraisal of my donation?
The IRS only requires a professional appraisal if the
donated item or group of similar items exceeds $5,000
in value. As an interested party, the Cartoon Art Museum
is not permitted to provide or arrange the appraisal.
IRS Form 8283 – Noncash Charitable Contributions
must be attached to your income tax return and signed
by both the appraiser and the museum. If your total art
contribution deduction exceeds $20,000, you must attach
a complete copy of the signed appraisal.
What
does the IRS require if my donation is worth $5,000 or
less?
- If you donate personal property worth between $501 and
$5,000, the IRS still requires Form 8283 - – Noncash
Charitable Contributions to be filed with your tax return,
but it does not need to be signed by the museum. You do
not need a professional appraisal but you must report
how the fair-market value was determined. Evidence of
contemporary sales of similar pieces is generally sufficient.
- You do not need to attach Form 8283 to your tax return
if you clamed a total deduction of $500 or under for all
contributed property.
Where
can I get IRS Form 8283?
You can download Form 8283 from the Internal Revenue Service’s
web site: www.irs.gov
What
documentation does the museum provide?
For every donation, the museum provides a letter stating
what the gift was and when it was received by the museum.
The donor should keep this letter as a receipt of the
gift in case they are asked to produce it by the IRS.
Source:
Ildiko P. De Angelis and Lela Hersh, "Object of Appraisal:
Legal and Ethical Issues," Museum News Sept/Oct 2001.
Cartoon
Art Museum