2 ms·

I'm skeptical of "full market value" for unique items for which there is no public market.

by comeonbro 3y ago

jl6 3y ago
There’s a committee[0] and I guess Roman coins are one of the easier artifacts to value as there actually are public markets for them[1]. If you, as a finder, disagree with the valuation, you can “send your own valuation for the committee to consider”, which sounds like an interesting process to navigate. I imagine you’d have to find a credible alternative buyer who’d be willing to pay a higher amount. [0] https://www.gov.uk/government/organisations/treasure-valuation-committee https://www.gov.uk/government/organisations/treasure-valuati... [1] https://www.vcoins.com/en/coins/ancient/roman-coins-2.aspx?category=roman https://www.vcoins.com/en/coins/ancient/roman-coins-2.aspx?c...
- comeonbro 3y ago
  The article lists several unique items which are not coins, including one unique enough to have its own wikipedia page in 6 languages. Pretty much by definition, its "full market value" cannot be determined by a committee.
  - hef19898 3y ago
    One of the cases a societies right of access to culture heritage trumps an individuals right of pursuit of monetary gain.
    - comeonbro 3y ago
      Yes, I am open to the possibility that confiscation by the state (with compensation) in the interest of national heritage may be the right thing to do in such cases, I'm just, as I said, skeptical of the claim that "full market value" for completely unique things that have never been on the market can be determined by a committee; and that interests of the farmer and the interests of the government are as blissfully aligned as was claimed.
      - coyotespike 3y ago
        This is a fair comment - price calculation is one of the main services the free market provides and I am also skeptical that a committee can perform that service to the same standard.

2 ms·

I'm skeptical of "full market value" for unique items for which there is no public market.

by comeonbro 3y ago

I'm skeptical of "full market value" for unique items for which there is no public market.

jl6 3y ago
There’s a committee[0] and I guess Roman coins are one of the easier artifacts to value as there actually are public markets for them[1]. If you, as a finder, disagree with the valuation, you can “send your own valuation for the committee to consider”, which sounds like an interesting process to navigate. I imagine you’d have to find a credible alternative buyer who’d be willing to pay a higher amount. [0] https://www.gov.uk/government/organisations/treasure-valuation-committee https://www.gov.uk/government/organisations/treasure-valuati... [1] https://www.vcoins.com/en/coins/ancient/roman-coins-2.aspx?category=roman https://www.vcoins.com/en/coins/ancient/roman-coins-2.aspx?c...
- comeonbro 3y ago
  The article lists several unique items which are not coins, including one unique enough to have its own wikipedia page in 6 languages. Pretty much by definition, its "full market value" cannot be determined by a committee.
  - hef19898 3y ago
    One of the cases a societies right of access to culture heritage trumps an individuals right of pursuit of monetary gain.
    - comeonbro 3y ago
      Yes, I am open to the possibility that confiscation by the state (with compensation) in the interest of national heritage may be the right thing to do in such cases, I'm just, as I said, skeptical of the claim that "full market value" for completely unique things that have never been on the market can be determined by a committee; and that interests of the farmer and the interests of the government are as blissfully aligned as was claimed.
      - coyotespike 3y ago
        This is a fair comment - price calculation is one of the main services the free market provides and I am also skeptical that a committee can perform that service to the same standard.