Antique China Questions About Antique Collections For Sale
Posted in Antique Store on 03/13/2011 02:05 am by Ling
Paul asks…
Do you have a cheap Millsberry yard sale?+batman locations.?
Anyone have a cheap yard sale? tell me the username.thanx!
Antique things I would like to find from 1-1000 millsbucks or a trade for one+ of my 2008 Halloween items.
Garden Plot
Previous Halloween things (Jack-o-lantern, bug soup, nanomite, etc.).
Things from the Gazette building (pen, paper pad [i have the hat]).
Valentine's things(cheap since i can get them on the Feb. 14th later).
Any of the prizes from Lucky (If it's a fridge, i can give you something big, like a CTC tree house in return).
Chocolate Lucky Charms items.
CTC scooter.
Trix Rabbit things.
Things from Jenneira (puzzle or projector, etc.)
Winter backpack, desk, tins, etc.
Sylvie shaped hat or shirts (not seawead hat).
Fruit Roll Up dude costume.
CHECK OUT MY HOUSE!
you won't be dissapointed!
*ALL OF MY TROPHIES WERE WON FAIRLY(none bought)*
yuliyapugach
(alcove for relaxation 1rst floor to see CTC collection)
(rooms on floor 6 to see Halloween 2008 & other treasures)
(vault for trophies floor 5 to see my trophies+)
CHECK OUT MY YARDSALE TOO!!
tell me your username (No password unless you trust me!) and the item you want to trade for or what you want in return
***BATMAN***
1. community center
2. school front
3. toy store
4. construction store
5. record store
6. inside the school
7. history place in town center
8. ...forget the last..bank or something

Ling answers:
Hi. I have a few trophies for sale. My name is fluffanie. My trophies are usually 4000 MBs and under. If you want you can send me something then ill return with a trophy. I have alot of trophies and my house is pretty cool. Check out my stuff. : )
fluffanie

Sandy asks…
Do I owe taxes on the sale of a gift? Received a 1099-MISC from buyer.?
In 1983, my uncle gave me an antique original photograph album from the late 1800's. I had it appraised in 2006 with a FMV of $5K and then sold it last year for $10K to a University that already had a collection of the photographer's work.
The University sent me a 1099-Misc for the sale amount & reimbursement for shipping the album to them. Do I owe taxes on the sale of this album? and if so, how do I catergorize and what forms, documentation, etc do I need to include? In other words, how do I handle this sale in reporting it? Thanks.
More details: The buyer had put their purchase price-my income from this sale in Box 7 Nonemployee compensation on the 1099-Misc form. This meant that I would owe 15.3% SS & Medicare in addition to other taxes on the income as self-employed.
I contacted the buyer to ask if they would change the nature of payment to Box 3: Other income. After several calls back & forth, the final reply from the buyer was that they shouldn't have sent me the 1099_misc form at all, since the sale was a one-time sale of personal property & I was not a business entity. They are writing a letter to the IRS to explain their error and sending a copy to me.
I also pinned down a good faith estimate of cost-basis for a valuation in 1989 with the buyer that matches the FMV appraisal I had done in 2005.
My question: Do I now file this income as a straight-forward Capital Gain? Thanks

Ling answers:
Report the sale on schedule D.
Your cost basis includes your selling expenses.
Unfortunately, your basis in the album is not $10K, it's not $5K, it's the same as your uncle's was when he gave it to you in 1983--and that's the what his cost basis was, not the FMV back in 1983, either.
Suck it up and put $0 + shipping costs.

Lizzie asks…
Legal advice needed...?
Hermione is an auctioneer who has recently experienced some legal problems:
Hermione placed adverts in several national newspapers detailing that a sale of antique furniture by the seventeenth century designer James Boswell, would be held in Edinburgh on 21st June. Morag, a private collector, who saw the advert, was very interested in bidding for this furniture and she has decided to make the trip to Edinburgh from the Shetland Islands to attend the sale. Several conditions were set out in Hermione’s advert, one being:” The highest bidder to be the buyer.” Morag attended the auction as planned. She successfully bid for a 17th Century oak dining table. The next lot contained a collection of Boswell pieces in which Morag was greatly interested. Her bid was the highest, but before the fall of the auctioneer’s hammer, the owner of the goods, who was present in the auction room, decided to withdraw the goods from sale. Morag is furious and demands that she be given the furniture.
Q1. Morag quickly discovers that whilst the oak dining table is indeed of 17th Century origin, it is not the work of James Boswell after all, but rather that of a promising apprentice who worked for the famous designer. She is unhappy with her purchase and wishes to rescind the contract. Advise her of her legal position.
Q2. In relation to the unsold furniture which Morag bid on, does she in fact have a contract of sale with the owner of the Boswell furniture?
What I really need here is the area of law, and this case applied to that area?

Ling answers:
Morag is a private buyer (i.e. Not a Business) so the Sale of Goods Act applies (find the bit dealing with auctions) for Q1 (will relate to 'Goods supplied must be as advertised') ...
Q2 should be 'cut & dried' .. No contract exists until the chain from offer >> acceptance is complete .. Morag made an offer, however acceptance did not occur (the hummer never fell) hence no contract exists ..

Jenny asks…
Would it be rude to ask again?
This may sound like an odd story, but I'm interested in buying a bottle of antique whiskey. I first found out another person was having a moving sale and had a good collection they needed to get rid of through my friend, John. I called him yesterday to ask if he knew these people still had it and were interested in selling it. He said yes. He said that it would work for me to come and get it yesterday, but that didn't work for me so I said I'd let him know as soon as possible. It looks like today is clear, so I called him last night to ask if his friends would be busy. He said "I don't know, I'll ask tomorrow." So now, I'm getting kind of antsy because he hasn't let me know yet and I don't know these people's number, and I don't want to keep pestering and inconveniencing him. I don't want it to go to someone else, though! What should I do? I am afraid to ask again because I already asked twice yesterday and when he went to the trouble of seeing if they still had their alcohol, I couldn't make it.
Sorry to make a big deal out of nothing, but what should I do in this situation? Would it be rude or annoying to ask again, for the third time in two days, when he is apparently already working on it but hasn't gotten back to me? I feel bad that he's the middle man and is getting stuck in our business. He'd have to come with me because I don't know my way to their house.

Ling answers:
I would wait till late afternoon. Not sure why you made him the middle man in the first place. I think you should have just asked him to give your number to the people the first time.
If he hasn't talked to them when you call, you should probably ask him to please give them your number.

Sandra asks…
Does anyone else like the Argus C3?
Does anyone else have a thing with the Argus C3 (the "Brick")? I have three of them now (although only two are working at the moment). I have a big collection of vintage cameras and it seems like I always keep coming back to the Argus C3. It's built like a tank, it's reliable, and very easy to fix if anything does go wrong. It's just such a cool little antique camera.
http://i45.photobucket.com/albums/f86/gatewaycityca/FILE0515b.jpg
I originally went into the camera shop just to buy a couple of rolls of film (Kodak Ektar 100). But I started looking at all the antique cameras they have displayed on the shelves and for sale, and I saw a little Argus C3 sitting there. It still had its original case. I can never pass up on a C3. So of course I had to get it.
I'm kind of going through some hard times right now (a really good friend passed away recently) and maybe having another Argus camera to play with helped a little bit. I'm slowly trying to get back into things. The first manual exposure camera I had was the C3 I bought on eBay in 2007. And now I have yet another one. So I do have a special attachment to them, I guess. It helped me to learn more about photography. And maybe now it will help me to get back into photography after going through some hard times.
Anyway, that's my question - does anyone else like the Argus C3 or have kind of an attachment to it?
(Probably going to get reported for "chatting"...oh well)
It's not odd at all Jeffery...I prefer using film too. I use almost entirely film for all my pictures...probably 99.99 percent of my pictures are with film.

Ling answers:
I got one not long ago. I enjoy using it. I also have a Rolleiflex 2.8 TLR and a bunch of Canon FD stuff. Along with Mamiya RB67. As you can see I have a whole lot of old cameras. This might seem funny but I like film better than digital. I'm a odd ball. You might want to check out APUG(analog photography users group). They are into film. Some are into old cameras(some from early 1900's) Also check out KEH Used Cameras for old camera stuff.
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