Quote Originally Posted by Fishcop View Post
Say I buy a set of S IDA webers at a garage sale for $500. I flip them for $5,000 but really the market value was probably $3,000 - I just got lucky with an American who really needed those webers. I pack them up in bubble wrap and mail them off to the States and insure them for whatever the new owner does or doesn't want them insured for (I don't care, they're not mine anymore and I have $5k in the bank - the risk is his). What are they worth to me? I'll say $500... In the vintage car world, do any of us actually care that a government misses out on a few hundred bucks based on OUR micro-market assessment of what some 45-50 year old greasy car parts are worth?

If your moral compass gives you no room to waiver, fair enough - tell the government the carburettors you paid $500 for are worth $5000 (plus the $300 postage handling, and insurance) and make it someone else's issue.
John you make it even more confusing $500, $3K and $5. In the end the government only cares about the price paid, not the value (or what they are worth to the buyer / seller). There are lot of goods w/ a low intrinsic value but w/ a high price.

Tom brings up a good point
Hard to insure for full value unless the full value is stated.
. If you as a seller run into issues (lost in mail for instance) how are you going to cope w/ that, especially when it's paid by PP.

Richard