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 Post subject: Valuing and insuring a collection
PostPosted: Fri Mar 27, 2020 10:07 pm 
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Country: United Kingdom
Hi everyone,
I was just wondering if anyone had ever got their collection valued and maybe even insured? My collection is getting quite vast now not even including my TE armour. If the worst happened i would hate to lose it all and not be able to replace any of it. I have been looking at UK graders but that would be just for the Kenner and toy bits, but HCG collectibles etc are not cheap and some of my old garage model kits are near on impossible to get again.
I figure if I insure my cars then I should possibly look at insuring my collection.

Many thanks and stay safe

Jay


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 Post subject: Re: Valuing and insuring a collection
PostPosted: Sat Mar 28, 2020 12:11 am 
THAT guy
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Location: Virginia
Service Number: A03/TQ2.0.02146E1
Country: United States
Damn good question. Furthermore, what about "rare" ...yet "common" items. By those I mean like what if someone has, for an example (I don't) an original Itex Safety ear defender? To a claims adjuster that may appear as a common $9 ear muff set and they wonder what kind of scam you are trying to pull. They are in fact so rare right now that there isn't way to prove their true value! This goes the same for most of the 80s tech parts that were used in other props. How can a claims adjuster fully appreciate the "rarity" of these "common" 80s items are are simply "outdated/old" to 99.99% of the population, yet are insanely desirable??

Another example is the Explorer MMIV. To most of the 'knife community' it was a "cheap-knock-off" of the Gerber Mk2 and uncool. To Aliens fans, one sold on ebay for $212 just last week because they surely knew it was Hudson's. How do you quantify the true value of seemingly common, yet insanely hard to find items?!?!

While something like TE armor at least has a receipt to prove its value, what about "sweat equity"? If it was a good build, what would an insurance adjuster assign as a dollar value to say, a smart gun?! Would you get only the value of the Airsoft/resin foundation that does have a receipt? Rest of it be damned? Can the hours of labor be quantified in insurance?

I have wondered the same thing you have and can't help but think we are sure to get screwed if disaster fell upon us! Best I could come up with is make a few "this is my collection" videos to try and explain the value of what I have. (I honestly did the videos expecting to post them online, but realized I cam across as way too obnoxious. I decided to keep them as something of "proof" should I need to file a claim on what was lost in a home disaster).


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PostPosted: Sat Mar 28, 2020 6:19 am 
Mobile Mayhem
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Location: Rapid View, Saskatchewan
Service Number: A10/TQ1.O.32157E1
Country: Canada
This topic interests me very much and I'd love to explore it further.

Over the years I've seen a lot of parts sell for crazy amounts (some I bought myself) and I've had enough sense to document the prices. I'll post up what I have found at some point. Could be a good starting value.

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PostPosted: Sat Mar 28, 2020 12:02 pm 
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Country: United Kingdom
Yes i would love to see more info on this, unfortunately due to my poor admin or just buying things from online/ auctions/ forum members etc I do not really have any receipts for any of my collection that I can think of.
It’s been years of collecting and when I first started out keeping track of how much I bought the items for never really crossed my mind!
I have no real idea of how much various things would be worth bar looking at online auctions but even then it’s a minefield you could have say a Kenner Ripley at £15 obo then further down the listing the same figure for £55 and even £190. I understand condition etc comes Into play but unless you get these things valued by a recognised authority I can’t see the insurance company paying anything but lowest market value? Same with garage model kits, unless I look through old Model & Collectors mart and manage to find it listed is that the true value of the kit in today’s prices with rarity etc.


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