NORTHERN DISTRICT OF CALIFORNIA
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In re
DONALD O. GRACE, No. 01-11078
Debtor(s).
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Memorandum re Duck Prints
The debtor has a collection of decorative duck prints and stamps which he values at $8,000.00.
He is probably wrong by a factor of ten, as a quick check of e-bay shows that his items are readily
available and sell for much less than the debtor's estimated values.
(1) The debtor has exempted the
collection under California Code Of Civil Procedure ยง 704.020. The trustee and a creditor object.
Under California law, collectible items used as decoration in a home are considered to be
analogous to paintings and are accordingly exempt as household goods unless they are extraordinarily
valuable.
In re Lucas, 77 B.R. 242, 246 (9
th Cir.BAP 1987). Even at the values set forth by the debtor,
the objecting parties have not met their burden under FRBP 4003(c) by showing extraordinary value.
Accordingly, their objections will be overruled. Counsel for the debtor shall submit an appropriate form
of order.
Dated: November 8, 2001 ___________________________
Alan Jaroslovsky
U.S. Bankruptcy Judge
1. For instance, a 1984 Oregon stamp and print valued by the debtor at $400.00 sold at auction
last month for $49.00. A 1986 Montana stamp and print valued by the debtor at $400.00 failed to sell
at $39.00. See Exhibit "A" att