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Unread 01-13-2014, 08:11 PM
Richard Wallace's Avatar
Richard Wallace Richard Wallace is offline
I live for the details.
FRC #3620 (Average Joes)
Team Role: Engineer
 
Join Date: Jan 2003
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Re: Fair market value for scrap

The sponsor had a $2000 sheet of aircraft aluminum in their scrap bin?

Do they also blow stacks of dollar bills off their loading dock with a giant fan?

Seriously, when I have been an inspector in situations like this, I have always asked what price the donor would normally sell the item for. The blue box under <R12> in the 2014 FRC Manual uses that same description for fair market value.

Also, are you planning to use all of the sheet? If not, you might be allowed to account for a smaller quantity, if you can identify a source for the smaller quantity and its fair market value -- see another example further down in that same blue box.
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Richard Wallace

Mentor since 2011 for FRC 3620 Average Joes (St. Joseph, Michigan)
Mentor 2002-10 for FRC 931 Perpetual Chaos (St. Louis, Missouri)
since 2003

I believe in intuition and inspiration. Imagination is more important than knowledge. For knowledge is limited, whereas imagination embraces the entire world, stimulating progress, giving birth to evolution. It is, strictly speaking, a real factor in scientific research.
(Cosmic Religion : With Other Opinions and Aphorisms (1931) by Albert Einstein, p. 97)

Last edited by Richard Wallace : 01-13-2014 at 08:16 PM.
 


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