Buyers of this lot may be entitled to claim a charitable contribution deduction for the hammer price, but such deduction will be limited to the excess of the hammer price paid for the lot over its fair market value. In accordance with applicable IRS regulations, Phillips has provided a good faith estimate of the fair market value for each lot which is the mean of the pre-sale estimates relating to that lot. Buyers will have until April 31st, 2022, inclusively, to the Cancer Research Institute, Inc. in writing, their wish to benefit from this charitable contribution deduction by sending an email to events@cancerresearch.org. Bidders are advised to consult with their own tax advisors to determine the application of the tax law to their own specific circumstances and whether a charitable contribution deduction is available.
Provenance
Courtesy of the Artist and BDDW, New York
Property Sold to Benefit the Cancer Research Institute, Inc.