APPRAISALS

In Publication #526, the IRS suggests that appraisers consult the appropriate published market guide to help in determining Fair Market Value. There are a number of published market guides such as the BUC used Boat Guide, that shows high and low values with additions for extra equipment and superior condition. There are also a number of area designations showing additions or subtractions for all types of Vessels in different areas of the U.S.A.

The IRS also suggests you consult a competent, Marine Surveyor to determine the Fair Market Value of Vessels and Marine Equipment. With all Marine Appraisals, you should consult an independent marine surveyor, and be sure to stay within the boundaries set forth in market guides.

THIS APPRAISAL IS YOUR TAX DEDUCTION, AND MUST BE PAID FOR BY THE DONOR.

Department of the Treasury, Internal Revenue Service, Publication 561(Rev. February 2000), Cat. Number 15019Q Determining the Value of Donated Property: Cars, Boats, and Aircraft
If you donate a car, a boat, or an aircraft to a charitable organization, its FMV must be determined. Certain commercial firms and trade organizations publish monthly or seasonal guides for different regions of the country,containing complete dealer sale prices or dealer-average prices for recent model years. Prices are reported for each make, model, and year of used car, aircraft, truck, recreational vehicle, and boat. These guides also provide estimates for adjusting for unusual equipment, unusual mileage, and physical condition. The prices are not "official," and these publications are not considered an appraisal of any specific donated property. But they do provide clues for making an appraisal and suggest relative price for comparison with current sales and offerings in your area.