Another T206 Wagner Found ...

[e107collector]

I just checked Heritage's auction, the T-206 Wagner is at $262,900.

That price includes the bp.

Unbelievable.

Tony

[Rob D.]

Originally Posted by e107collector

That price includes the bp.

But not the borders.

[Matthew H]

Originally Posted by Rob D.

But not the borders.

They really should throw the borders in at this point.

[barrysloate]

Wouldn't the money paid for this card be considered a charitable deduction, since it's going to the nuns? In that case, we should expect a price realized that would exceed its retail value.

[Jim VB]

Originally Posted by barrysloate

Wouldn't the money paid for this card be considered a charitable deduction, since it's going to the nuns? In that case, we should expect a price realized that would exceed its retail value.

I don't think the IRS works that way Barry. There is only one taxable deduction for this donation and that goes to the gentleman who donated the card to the nuns.

The winning bidder just paid, in theory, fair market value for a card. He pays money. He gets a card. No deduction.

[egbeachley]

Originally Posted by Jim VB

I don't think the IRS works that way Barry. There is only one taxable deduction for this donation and that goes to the gentleman who donated the card to the nuns.

The winning bidder just paid, in theory, fair market value for a card. He pays money. He gets a card. No deduction.

There is probably no tax deduction for the donation either since there is nothing to deduct from.

I think an argument can be made that the price paid over the true fair value is a donation. A real-life example is a charity auction where a $50 face value prize is auctioned for $80 - $30 would be a deduction. But it would be hard to prove for this card and the IRS wouldn't buy it anyway.

[Jim VB]

Originally Posted by egbeachley

There is probably no tax deduction for the donation either since there is nothing to deduct from.

I don't really have any idea what the original owner's tax situation is. But, if he has earned income, capital gains, or an inheritance, I assume the value of the card could be used as a deduction.

But, as always, I will defer to the experts.




Edit to add: Just re-read the original article and I believe you are correct.

[iggyman]

That price must reflect the amount of good karma that Heritage/nun Wagner possesses. Either that, or Charlie Sheen has really gone off the deep end.

Lovely Day..