This document discusses several techniques for valuing historical monuments, antiques, artifacts, and books. It provides an example of valuing the Taj Mahal using an inflation-adjusted approach, estimating its value between $5.5 trillion to $20 billion depending on assumed annual maintenance costs. It also discusses factors that determine the value of antiques, collectibles, and books, such as demand, rarity, condition, provenance, and desirability. Methods for appraising items include the cost, sales comparison, and income approaches.

1. VALUATION TECHNIQUES
FOR
MONUMENTS ,ANTIQUES
AND ARTIFACTS
Presented By-
Mayank sagar
MBA
V.S.B

2. Historical monuments

3. There is no standard way to value historical monuments, but We
CAN TRY.. .
Method 1: Inflation-Adjusted Value
Taj Mahal was built from 1632-1653. Let's take 1640 as the mid point.
Cost at time of construction was INR 32,000,000.
The cost was about 32 million India rupees during the years
1632-1653.
Back then, one rupee was worth 30 Dutch stuivers. Five stuivers were worth 6 British
pence. It takes 240 pence to make a British pound.
With this information you can figure that in 1640, one rupee was worth 0.15
British pounds. That means the Taj Mahal cost 4.8 million British pounds in
1640. Using an inflation calculator for the British pound, a British pound in
1640 is worth 141 British pounds today. So that means the Taj Mahal
cost 678,800,000 of today's British pounds.

4. .
Converting the same to $ at $1.5 per £1, the value of the Taj Mahal comes
to $1,018,200,000 (i.e. a little over $1 billion).
But wait, over the years huge costs have been incurred for the beautification
and maintenance of the Taj Mahal.
Let us assume that the annual maintenance + beautification cost is 5% of the
current value of the Taj Mahal.
Hence, the total value of the Taj Mahal comes out to
be $10 billion dollars

5. But we cannot be too sure of the 5% maintenance cost assumption. So here is a
scenario analysis for different percentage costs.

7. So, the value of the Taj Mahal varies from $20
billion to $ 5.5 trillion.

8. Antiques & Collectibles
Antiques are generally considered to be objects more than 100
years old.
Collectibles are less than a century old, but can be just as
valuable.
“Vintage” generally refers to objects that are 20 or more years
old,
Regardless of age,
the value of an item depends solely upon supply and demand.
As a consequence, some rare antiques sell for less than a newer
collectible because there is no demand for the former and high
demand for the latter. Collectibles are generally emotional
purchases that have more volatile values than antiques, which
become better established through a longer history.

9. So, the value depends on the economy, the region where you are
attempting to buy or sell the piece, and whether or not
someone will actually want to purchase the item and whether a
similar items is available in the shop right down the street. Or on
EBay.
If you have antiques or collectibles and want to sell them to a
dealer, remember that the dealer will need to make a profit. The
dealer must take into account overhead costs as well.

10. You can also appoint an APPRAISER Who can
determines the best approach to value each object.
The three traditional approaches to value are –
Cost approach
The sales comparison approach
,andThe income approach
The Cost Approach Reports The Present Cost To Reproduce The Item Or Create A
Property With Similar Utility And Marketability. This ApproachIs Often Used
When Appraising Items That Are Still In Production Or Can Be Reproduced Using
Contemporary Artists Or Maker

11. The sales comparison approach utilizes recent sales of similar
items, and is accomplished by researching all relevant and
available sales records and asking prices. The appraiser analyzes
comparable sale characteristics that include age of the object,
material or medium, style, maker, manufacturer, artist, quality,
rarity, exhibition and publication history, and the market in which
they were sold.
The income approach produces an opinion of the present
value of anticipated monetary benefits for income producing
objects such as fine or decorative art objects that are being
leased, or are part of a rental loan collection

12. VALUATION OF BOOKS
Factors that Determine Book Value:
While it is impossible to summarize in a few short sentences what makes a book rare or
valuable, it is possible to ask some basic questions that often pass through the mind
of dealers and collectors.
A)Desirability: Will someone want to buy the book?
How important is the book?
Is it a famous author or a famous work?
B) Rarity: How many copies of the book exist?
It is often difficult to know how many copies of a book exist in private
collections, but one can gain some insight into Institutional and Library holdings.
There are several online databases for that, but perhaps the simplest and most
accessible is Worldcat.org

13. C) Condition: Condition is extremely important.
Is the book complete?
Is the binding original?
Are the pages stained, browned, or spotted (foxing)?
Again, it is important to consult a professional in assessing condition.
D) Provenance: Who owned my book before?
Are there any signatures to to the title page or other marks of identification. Perhaps, the
previous owner was famous or important. This could add considerably to its value.
Again, these are only some of the factors involved in properly evaluating old or rare
books.

14. National Return From Cultural Tourism
The SriLanka Experience-
ln order to highlight the usefulness of quantitative techniques in estimating
the economic value of cultural sites, this section presents a simple analysis carrie
out on data maintained by the Tourist Board of Sri Lanka.
(a) A global standard for numerically ranking significant historical
monuments.
(b) Economic returns per annum to agnation from cultural sites in their
present state
(c) The Economic Rate of Return ERR) from incremental investments to
reach desired tourist absorption levels
(d) The TOTAL ANNUALECONOMIC V ALUE of cultural site can then be
derived by appropriately aggregate
Average du ration of stay io Sri Lanka per tourist.
.Average number of days spent at the Cultural Sites (based on
periodic random surveys of tourists