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Nature of trading stock

25 November 2024 / Andrew Hubbard
Issue: 4963 / Categories: Comment & Analysis , ITTOIA 2005 , trading , Business
198669
I’m asking ‘for a friend’

I have a small confession to make. I am ‘Engine Driver’ who posted the query ‘Was book find an appropriation from trading stock?’ in the new queries on 17 October. The replies were published in the issue of 7 November. The query reads as follows:

‘My client is a dealer in rare books. He also collects books and memorabilia on railway history. Quite often he will buy a collection of books – say when somebody is clearing their deceased parent’s house – and if he finds a rare or interesting railway item he will often take it to add it to his personal collection rather than put it as stock for sale (he doesn’t have a shop and operates exclusively online). Some of these items can be very valuable.

‘When buying a collection he will pay a single price for the collection and quite...

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