I've heard of people using art to reduce taxes. Something like: Get the art appraised (the higher the appraisal the better), and donate it to a museum or other

I've heard of people using art to reduce taxes. Something like: Get the art appraised (the higher the appraisal the better), and donate it to a museum or other 503(c)(3) to reduce your taxable income by the appraised value. If you have an actual willing buyer you'd still be better off selling it. But whereas stocks and bonds have an obvious value upon donating them, there's a lot more potential for generous appraisals for this purpose. I'm happy with my stocks and bonds and a clean conscience, but I've heard that a lot of the money among collectors is made this way.