HtbaS – Episode 242

This week, I talk about what’s in a quilt appraisal and why you may want to consider one.  I also do some math live on the air with varied success – just let it wash over you. Look for the Stitch-In tonight at 7pm US Eastern with Lynn and I! We’ll be streaming it on YouTube as well.

Today’s podcat is Nina!

8 Replies to “HtbaS – Episode 242”

  1. Before I keep this comment rolling around in my brain, just want to know how much would have the appraisal cost if you were to pay for the appraisal? Also, can the appraiser, who did not charge, treat the appraisal as a donation for tax purposes?

    I came in late in the game on the Philippa Gregory books, so I started reading them in historical order per the author’s timeline on her website — great stuff. Did you watch the “White Queen” series on Starz … great stuff.

    Have a great week — google hangout makes me dizzy — I will need to just listen:>>

  2. Oh my……Math! My head hurts, this was like common core for me….I don’t get it.
    Still say we need a Nina fan club.

    How do you do leaders and enders? Did you buy the book? (Bonnie Hunter)

    Enjoyed the Stitch-In! last night.
    Thanks for the great podcast Pam.

  3. OK, I am not a moron. I found the commenting area. I was looking for a link at the top, but scrolling down worked.;-)

    Once again, not a #podcastdeliquent.

    My husband is an auditor with an accounting background and I was trying to explain to him about the fabric in the appraisal. Did I understand this right? If you are making a scrap quilt and only use 1 2″ square, the appraiser still counts it as you had to buy a FQ, thus the cost of the materials goes up? He said this made no sense, which means that I must have understood something wrong, because in Accounting Principles you have to account for the materials actually used. He has a sense of quiltmaking, especially the math part, but I can see how there would be a disconnect between actual accounting principles design to deal with a box of nails and quiltmaking. If I understood you correctly, I can see how that would be the case,because of the way we have to buy fabric. As you said an FQ is usually the smallest piece you can buy. I will listen to the podcast again and see if I missed something.

    I liked your discussion of the appraisal. Very interesting. Thanks again for your hard work on the podcast.

  4. Mercenary minds want to know…I’m assuming you can take a $1,200 deduction since you made the quilt as a donation to Good Mews. Another reason to get a 3rd party appraisal.

  5. Just wanted to mention a couple of things about this episode. I completely agree with aqjaye – the cost of the quilt is not what you purchased the materials for but the cost of what you actually used. If you use 1 yellow square from the FQ in this quilt and one yellow square from the same FQ in the next quilt, how many times would you count the cost of that FQ??

    Also, it is really important to mention that a person who purchases a good at a charity event (after bidding or whatever method of arriving at a selling price) cannot deduct the entire purchase price on their taxes. The deduction would equal the purchase price minus the value of the good received. So if they really receive a $1200 quilt (?) for a winning $600 bid, there is no deduction for the purchaser. And I think the donor’s deduction may be limited to $600 as well, since that is fair value assigned by the “market.”

  6. I promise I have not been podcast delinquent…just comment delinquent! I listen to episodes in the car and then get home or to work and never get back to it. Just want to say that I have been enjoying them, and this one about appraisals was very interesting. Obviously there is a difference between fair market value and replacement value, but it does make you realize the importance of insurance and not underselling our quilts.

    Thanks for bringing me back to quilting each week. My blog is all but dead and our retreat last week was the first quilting I’ve done in months, but I know I can listen to you and the other podcasters to keep those brain cells alive until I can get back to it.

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