Kollsman Opinion

Fellow appraiser Cindy Charleston Rosenberg sent me the link to the US Tax Court decision on the Klossman estate and the valuation of two old master paintings where the court fount in favor of the IRS with a $1.77 million tax deficiency.  For background click HERE from an earlier AW post on the decision. The case and court finding have some interesting points, and conflicts of interest when dealing with auction house appraisals and potential consignment agreements. Well worth reading.

To read the full decision, click HERE to download the 40 page PDF.