‘Tuscan-Medici’ Stradivari viola for $30 million

[cellopera]

https://www.thestrad.com/news/record-breaker-library-of-congress-acquires-tuscan-medici-stradivari-viola-for-30-million/19568.article

[Dr. Mark]

...so the purchasing power of the U.S. dollar is dropping like a rock it seems.

[Dwight Brown]

I guess that make a viola the record holder! :-)

DLB

[GeorgeH]

It did not really “sell” for $30 million. Essentially, the David and Amy Fulton Foundation made a $20 million dollar charitable donation to the Library of Congress to buy the viola from the Baird family who placed a value of $30 million on it, thus they can claimed a $10 million dollar charitable donation tax deduction and avoided a large capital gains tax on that amount. 

I highly doubt it would have sold for $30 million cash on the open market, but it is good that it will be now be preserved for the public.

 

[Richf]

For the record, the tax savings for the Fultons will be paid from tax revenues collected elsewhere, which is why the IRS has taken a hard look at the valuations for such contributions in the past.  I hope the Library will keep this viola in the same public room with their Strad, Amati, and Guarneri violins so that we can see it.  

[martin swan]

9 hours ago, GeorgeH said:

I highly doubt it would have sold for $30 million cash on the open market, but it is good that it will be now be preserved for the public.

 

If the Baron Knoop sells for $23M I think the Medici could sell for well over that amount.

[Marty Kasprzyk]

23 hours ago, GeorgeH said:

It did not really “sell” for $30 million. Essentially, the David and Amy Fulton Foundation made a $20 million dollar charitable donation to the Library of Congress to buy the viola from the Baird family who placed a value of $30 million on it, thus they can claimed a $10 million dollar charitable donation tax deduction and avoided a large capital gains tax on that amount. 

I highly doubt it would have sold for $30 million cash on the open market, but it is good that it will be now be preserved for the public.

 

It's nice to know I own a $0.09 share of a famous viola.