…that when collectors donate works of art to a public institution, they are given a tax courtesy in relation to the value of the work. Sometimes, this will range between 50 and 75 percent of the value of the work donated. When an artist donates a work of his own creation, the tax courtesy is only equal to the value of the materials used in the work itself, not including labor.
Tags: art donations, art insurance, Lauren Gentile, Specullector
