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<p>[QUOTE=&quot;NorthKorea, post: 1585295, member: 29643&quot;]Again, it&#039;s entirely possible that the church has those recorded as legacy assets and not &quot;investments&quot; on the books. As such, they&#039;re supposed to (mostly for insurance purposes) dispose of those as efficiently as possible. The proceeds then are used for whatever + investments. Usually the congregation would vote to change the investment manager or sell &quot;some of the portfolio&quot; rather than specific assets. If the items up for sale were held/treated as investments, I&#039;m certain the congregation wouldn&#039;t have been given the choice to sell or not. It&#039;s very likely that the cost of insurance on the book works out to 3 percent (give or take) of the maximum appraisal. Either the church never insured it (fire/theft risk) or had been using old appraisals. The discussion/vote may have been a result of someone having a recent appraisal done.[/QUOTE]</p><p><br /></p>

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