Dr. Rice prepares appraisals to meet a variety of needs:
- Fair market value to sell an instrument
- Estate evaluations
- Legal proceedings
- Tax credits for donations to non-profit organizations
- Insurance replacement valuation
- Any other situation that requires a professional determination of value
Appraisals are available for all instrument types except bowed strings such as violins, violas, cellos, and double basses.
A fully researched, complete report documents each appraisal. IRS form 8283 is attached for gifts to non-profit institutions.
There are two basic types of appraisals: Fair Market Value and Insurance Replacement Value.
Fair Market Value is "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." (IRS Guidelines) This value is researched for musical instruments that are to be sold, given to a non-profit institution, for estate evaluations, and for legal proceedings.
Insurance Replacement Value is "The highest price in terms of cash or other precisely revealed terms that would be required to replace a property with another of similar age, quality, origin, appearance, provenance and condition, within a reasonable length of time in an appropriate and relevant market. This definition includes various anticipated costs such as: purchase from an appropriate dealer; purchase at a well publicized public auction where comparable property is regularly sold; and engagement of a commissionaire or any other consultant." (American Society of Appraisers definition) This value is researched for musical instruments that require an insurance appraisal or have to be replaced.
Advanced Education/Professional Positions
M.L.S. in Library Science, California State University San Jose, 1994.
Ph.D. in Musicology with an emphasis in Organology (the study of musical instruments), The Claremont Graduate School (CGS), 1987.
M.A. in Music History and Music Performance, CGS, 1977.
B.A. in Music, California State College, Fullerton, 1974.
Appraisal Courses given by the American Society of Appraisers
Curator, The Kenneth G. Fiske Museum of Musical Instruments at The Claremont Colleges, Claremont, California, 1986-2008.
Professional appraiser of musical instruments since 1989.
Librarian, Los Angeles Public Library.
Dr. Rice has been a consultant and appraiser for numerous organizations, including: Natural History Museum of Los Angeles County; Music Center Operating Co., Los Angeles; Museum of Art, Brigham Young University, Provo, Utah; National Music Museum, University of South Dakota, Vermillion; La Sierra University, Riverside, California; University of Wyoming, Laramie; Warner Bros. Studios, Burbank, California; Joslyn Art Museum, Omaha, Nebraska; University of Vancouver Museum, Vancouver, British Columbia; Cantos Foundation Collection, Calgary, Alberta.
Three books on musical instruments published by Oxford University Press. Numerous articles in professional journals and newsletters; a list is available upon request.
Fees vary by the type of instrument(s), the number of instruments, the rarity of the instrument(s), and the kind of appraisal requested. Please contact Dr. Rice by email, phone, or fax for an estimate.
Information Needed for an Appraisal
An appraisal can be done from photographs and detailed descriptions provided or, if necessary, by first-hand study. Appraisals are available for one instrument to an entire collection.
You can email Dr. Rice at firstname.lastname@example.org or call
©2009 Albert Rice. All Rights Reserved.