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Modeling in General: Advice on...
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How do I get my stash appraised?
DeskJockey
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Virginia, United States
Member Since: July 17, 2006
entire network: 1,558 Posts
KitMaker Network: 376 Posts
Posted: Monday, January 11, 2016 - 06:55 PM UTC
I've been told by my insurance company that I need to get my stash professionally appraised so it can be covered by my homeowner's policy. I'm not sure where to begin on this, however. Do I need to hire an appraiser who knows about models, or would any appraiser do? If I need a specialist, does anyone here know where/how I could find an appraiser who knows about scale models?

For the appraisal, do I need an inventory of my stash, or will the appraiser make one? Should I include my built models? About how much should I expect to pay (I'm in northern Virginia, if that helps)?

I f anyone has gone through this process before, I would really appreciate hearing how it went. My stash is fairly large (north of 300 kits and 1,000 AM items), so I imagine this will be a big undertaking.
jet
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Alberta, Canada
Member Since: December 30, 2002
entire network: 306 Posts
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Posted: Monday, January 11, 2016 - 07:08 PM UTC
Also book appraisal?
DeskJockey
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Virginia, United States
Member Since: July 17, 2006
entire network: 1,558 Posts
KitMaker Network: 376 Posts
Posted: Monday, January 11, 2016 - 07:26 PM UTC
I don't think I'll have my reference books appraised, but it's worth considering.
Sandbox
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Connecticut, United States
Member Since: October 29, 2002
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Posted: Monday, January 11, 2016 - 08:35 PM UTC
To start with an appraisal here are some basic questions:
How many kits are in your stash?
How many different scales/genre have you collected?
How many of the kits are resin?
How much PE, barrels and related aftermarket items do you have?
The big question would be have they been stored well and are they in reasonable condition. The market value (replacement cost) drops a bit if the item is in 'used' condition (item opened, shelf damage/wear, etc).
I've recently liquidated a deceased member of our modeling club stash and can offer some pricing advise based on this limited experience. Most appraiser would need a list/spreadsheet of your inventory.
DeskJockey
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Virginia, United States
Member Since: July 17, 2006
entire network: 1,558 Posts
KitMaker Network: 376 Posts
Posted: Wednesday, January 13, 2016 - 07:37 AM UTC
Thanks, Jeff. I can answer most of those questions fairly well. I can put together a spreadsheet fairly quickly since I track my stash on Scalemates, so that's a good start.
ahandykindaguy
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Alberta, Canada
Member Since: August 20, 2008
entire network: 1,295 Posts
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Posted: Thursday, January 14, 2016 - 05:10 AM UTC
My brother in law's house burned to the ground last year, taking with it his entire collection of styrene and die cast cars, trucks and semi trucks. His insurance agent had him make a detailEd list himself, giving as much detail as possible as per the number of kits, types, original costs, and replacement values. They took his word for it, which I believe is not the norm. His end result was a cheque in the amount of close to 65,000$, Canadian of course, so about twelve dollars American.....

My own house insurance policy requires a list of things, and some form of record of proof of purchase... They actually suggest that you video record your home, room by room, which gives an apraiser an accurate representation of the contents. I do know for us, that unless we document all our "stuff", the most they will pay out is around 10,000$.

Hope this may help you.
AFVFan
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North Carolina, United States
Member Since: May 17, 2012
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Posted: Thursday, January 21, 2016 - 02:22 AM UTC
Make a list and take plenty of pictures of everything. Do some legwork on Ebay and other sites to get current pricing on everything you can. If you have a local model shop, have them sign off on the list when you're done.

...If you can find a "professional" appraiser be prepared to shell out anywhere from $100 to $300 for their services.
...If the appraisal is large enough the insurance company may make you buy an additional policy, or they may claim it goes over their limits.

Generally, most insurance companies write their policies with a total amount for personal items. I suggest you just make sure that amount is enough to cover everything, including your stash, and let it go at that.
ryally
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New South Wales, Australia
Member Since: July 29, 2005
entire network: 879 Posts
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Posted: Thursday, January 21, 2016 - 03:47 AM UTC
Yes was thinking the same thing
Take a photo of every item on its own( yes its a pain)then go and try to find it on the web/Ebay or in a shop and take a photo of it again with the price tag. If you lucky some of your kits may still have ( current)price tags on them.
Some web shops may have old kits but out of stock but still show what they cost. Google images is good for this, just type in the model name and go Google images.
I think your wasting you time with a professionally appraised person. My advice would be do all the research come up with your own value and show the insurance company. Then if you still have to, talk to assessor over the phone, so you get a good understanding one.When they come out show them your spread sheet and how you came to your price/total and see if they go higher or near your total. Also store this info on a USB ( not in your home in case it burns down) in friends house/work/ or other family members house or email to yourself.

And to be more of a pain, everything you buy from now take a photo of the box and receipt with it. Add this to your USB and create a folder in your emails and send the pics to there.

" Don't show wife final total"

Hope this helps
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