Elvis Presley made his home at Graceland (www.graceland.com, Elvis Presley Blvd, Memphis, TN 38116, 1-800-238-2000) in Memphis. Now an internationally known museum, Elvis fans can tour his home to see his eccentric possessions. With such a massive collection of one musician’s possessions, and volumes of people touring each year, having appropriate insurance coverage for the collection is a necessity. A music appraiser can assess the collection, determine its fair-market value, and provide all the required documentation for insurance companies.
Over the 20 years Elvis lived here, Graceland created countess memories for the many friends and relatives who were part of Elvis’ life. As the front door to Elvis Presley’s mansion opens, you are taken on an unforgettable journey into the private world of an American legend, guided by a state-of-the-art iPad tour narrated by Elvis fan and actor John Stamos.
Music fans, collectors and musicians all flock to Memphis, Tennessee to experience the rich history of this famous city. From Country to Pop and Rock ‘n’ Roll, Memphis is the birthplace and career epicenter for many internationally famous musicians such as Elvis Presley, W.C. Handy, B.B. King and Johnny Cash. With the sheer number of museums and collections of music artifacts to see, Memphis is a must-see for any music-buff that visits the state. Stroll down Beale Street, take in the sights of Overton Square or visit the Sun Studios (www.sunstudio.com) where Elvis, Jerry Lee Lewis and Johnny Cash recorded some of their early songs. Whatever you choose to do in Memphis, you are sure to learn about artists old and new in this bustling music city.
A music appraiser, such as Stephen M.H. Braitman, ASA, of MusicAppraisals.com, can benefit a variety of organizations, museums and collections such as those found throughout the state of Tennessee. Whether you’re reviewing your estate plan, in the midst of a legal dispute, dealing with a donation, or filing an insurance claim, a music appraiser can provide valuable insight into purchasing, selling or maintaining music collections, artifacts and memorabilia.
Insuring Music Collections
Music artifacts can range widely in value from $100 for a vinyl record to thousands of dollars for clothing and personal belongings used by artists. Many of the collections and artifacts maintained in Memphis carry significant value both in terms of fair-market value and in historical terms. For example, the Memphis Hall of Fame (www.memphismusichalloffame.com, 126 S 2nd Street Memphis TN 38103, (901) 20-2532) not only inducts famous musicians and artists to its hall of fame, but also houses clothing and other artifacts of the inductees. The Hall of Fame in Memphis would benefit from, and likely uses, a music Aappraiser for a variety of services. Music appraisers determine the fair-market value of artifacts such as clothing and other personal affects, for insurance purposes. They can also assess loss due to damages for a museum such as the Hall of Fame.
The Memphis Music Hall of Fame, located in Memphis, Tennessee, honors Memphis musicians for their lifetime achievements in music. The induction ceremony and concert is held each year in Memphis.
Elvis Presley made his home at Graceland (www.graceland.com, Elvis Presley Blvd, Memphis, TN 38116, 1-800-238-2000) in Memphis. Now an internationally known museum, Elvis fans can tour his home to see his eccentric possessions. With such a massive collection of one musician’s possessions, and volumes of people touring each year, having appropriate insurance coverage for the collection is a necessity. A music appraiser can assess the collection, determine its fair-market value, and provide all the required documentation for insurance companies.
Over the 20 years Elvis lived here, Graceland created countess memories for the many friends and relatives who were part of Elvis’ life. As the front door to Elvis Presley’s mansion opens, you are taken on an unforgettable journey into the private world of an American legend, guided by a state-of-the-art iPad tour narrated by Elvis fan and actor John Stamos.
IRS Requirements and Donations
A music appraiser can assist collectors and donators in confirming that their donations meet IRS requirements, and in compiling the required documentation. Whether through an inheritance or through purchase, individuals or businesses may want to donate an item or collection to the Memphis Rock ‘n’ Soul Museum (www.memphisrocknsoul.org, 191Beale Street, Suite 100, Memphis TN 38103, (901) 205-2533) or Stax Museum of American Soul Music (www.staxmuseum.com, 926 E. McLemore Avenue, Memphis, TN 38106, (901) 261-6338, info@soulsvillefoundation.org). These kinds of donations would require the services of a music appraiser to confirm the IRS requirements and provide the accompanying documentation to ensure compliance.
The Memphis Rock ‘n’ Soul Museum’s exhibition about the birth of rock and soul music, created by the Smithsonian Institution, tells the story of musical pioneers who, for the love of music, overcame racial and socio-economic barriers to create the music that shook the entire world. Located at 191 Beale, on the corner of legendary Highway 61 at the FedExForum sports and entertainment complex, the museum offers a comprehensive Memphis music experience.
The Stax Museum of American Soul Music is the world’s only museum dedicated to preserving and promoting the legacy of American soul music. Located on the original site of the Stax Records studio in Memphis, Tenn., the Stax Museum pays special tribute to the artists who recorded there, as well as other American soul legends, with a rare and amazing collection of more than 2,000 artifacts, interactive exhibits, films and galleries.
About Stephen M. H. Braitman, ASA
If you or your institution need professional music appraisal services, Stephen M. H. Braitman, ASA is an Accredited Senior Appraiser with the American Society of Appraisers. He is the ONLY accredited appraiser in the country with a specialty in Recorded Media (LPs, 45s, CDs, all formats) and Music Memorabilia (Posters, Photos, Signed Instruments, Promotional Items, Artist-Owned Objects, Sheet Music & Scores). His services consist of:
Professional Appraisal Services for Individuals
- Insurance Replacement Cost Coverage
- IRS Charitable Donations
- Equitable Division of Property in an Estate or Divorce
- Estate Planning
- Expert Witness
- IRS Federal Estate Tax
- Loss of Value Claims
- Opinions of Value
- Settlement of Damage
- Valuation and Settlement
Expert Appraisal Services for Collectors and Professionals
- Record Collectors and Dealers
- Archives, Libraries, Auction Houses
- Insurance Agencies
- Executors for Estates
Stephen M. H. Braitman can be contacted at 415-897-6999 or email at braitman@musicappraisals.