A. P. Grice
Sophomore Member
- Joined
- Apr 24, 2003
- Professional Status
- Certified General Appraiser
- State
- Virginia
...value this item. It's an interesting topic for discussion.
Appraising a large medical (orthopedic surgery) building. The main waiting room/atrium has recently had very large murals painted at either end. $18,000 'worth'....(which is really a very minor - virtually inconsequential - amount compared to the overall building cost.) I'm quite aware of the many 'tests' to differentiate personal property from fixtures or real estate, and indeed, this might have a soothing effect upon the patient waiting with a broke leg or whatnot...but when is the time (if ever) when "art" becomes "real estate"?
Cheers
Appraising a large medical (orthopedic surgery) building. The main waiting room/atrium has recently had very large murals painted at either end. $18,000 'worth'....(which is really a very minor - virtually inconsequential - amount compared to the overall building cost.) I'm quite aware of the many 'tests' to differentiate personal property from fixtures or real estate, and indeed, this might have a soothing effect upon the patient waiting with a broke leg or whatnot...but when is the time (if ever) when "art" becomes "real estate"?
Cheers