Household furnishings and paintings displayed for decorative or artistic purposes would not normally be considered collectible items held for investment. However, periodic sales from a collection of artwork would indicate that the collection is held for investment purposes. If you are unsure whether a collectible item is held for investment purposes, consult your ethics official.
You may use the purchase price, a recent appraisal for insurance purposes, a published price guide, the recent sale price of similar items, or a good faith estimate.
This guide is not intended to provide investment advice, and you should not rely on statements in this guide when making investment decisions.
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