Wedgwood Museum Tax Problems

The following is from Kovel’s recent update:

The Wedgwood Museum in England has been ordered to sell its $27 million collection to pay bills owed to Wedgwood pension plan creditors. John Cauldwell, a British billionaire, wants to buy the collection, keep it in the museum, and have the museum continue to operate. Then, if the public wants the collection, he will sell it back to the museum when the public raises the money. The museum has not been part of the Wedgwood company for 50 years, but a British pension law makes the museum liable for the debt. 

This is a wonderful museum that I visited with a group from the Northern Ceramic Society.  I hope that it will not be forced to close.  The Birmingham, Alabama has one of the largest Wedgwood collections in the United States. 
















About askbeverly

Who am I? I am an individual who values the contents of people's homes for a variety of reasons. I'm called a "personal property appraiser" and certified by the International Society of Appraisers which requires educational courses, examinations, keeping up with current tax laws and every two years taking a course called the Uniform Standards of Personal Property Appraisals. Every five years, I am required to keep up my ISA certification by proving I have a minimum of 100 personal property development credits - that's course hours and actual research time spend on appraisal work. As a long time collector I have turned a hobby into a profession and for the last 22 years worked as an independent appraiser. My specialties include china, pottery, sterling silver, crystal and glassware, costume jewelry, Carnival Glass, Belleek Irish porcelain, collectibles and furniture. Why do you need an appraisal? The purpose of an appraisal may be for obtaining insurance, probate of an estate, equitable division of an estate or divorce, or a damage claim. I also give lectures on several different topics to antique clubs, provide consultations in person, by phone and through email. No my service is not free! But I will also advise you if I believe it is in your best interest to do research on your own if you just want an idea of what something is worth rather than pay for an appraisal.

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