Authentication and appraisal - LA

[Carterman32]

I'm a first time Rolex buyer and want to get my watch appraised and authenticated. I live in the San Fernando Valley and have called a number of watch and jewelry stores. I can find jewelry stores that do appraisals and watch stores that do authentication, but none that do both. One of the jewelers said that he can check authenticity without opening the case, which makes no sense.

Does anyone know of a spot where I can kill two birds with one stone. I am trying to avoid trips to two different stores every time I buy a watch.

[Atone]

Go to Bazaar Chic in Beverly Hills (stupid name, I know). It was previously philippe‘s but they scaled down a bit if I understand the story correctly. VERY knowledgeable folks and I suspect they can do everything you need. I have all my watches appraised there. They sell Rolex so I’m sure they can deal with an authentication.

[TimeLord2]

If Rolex will service your watch then it has been authenticated. I was considering having my 1675 service there, they said I had to have it "authenticated" by them before they would service the watch. I paid $260 for the authentication, which would have folded over into the cost of service but then had it serviced by Phillip Ridley instead. And yes, Rolex provided a service estimate. RSC, Beverly Hills—but you will have to make an appointment. It's a few blocks from Bazaar Chic… I suppose that is technically two stores but they are quite close to each other.

[dannyp]

Originally Posted by Carterman32

I'm a first time Rolex buyer and want to get my watch appraised and authenticated. I live in the San Fernando Valley and have called a number of watch and jewelry stores. I can find jewelry stores that do appraisals and watch stores that do authentication, but none that do both. One of the jewelers said that he can check authenticity without opening the case, which makes no sense.

Does anyone know of a spot where I can kill two birds with one stone. I am trying to avoid trips to two different stores every time I buy a watch.

He must not have read the latest "movement swap" thread on here!

What about Wanna Buy A Watch on Melrose? Do they do either/both? I know they specialize in premium-priced vintage Rolexes, but not sure what they do/charge for that.

Personally, I'd go to Rolex BH for authentication, since they can check not only whether it's all "real" but also all goes together (right case, movement, dial, hands for the serial number).

Not sure what the best route would be for appraisal; I've always gotten my watches from ADs, who appraise for MSRP, but it sounds like you bought preowned/secondary market, so not sure how they'd handle (either dealer or insurance company).

[77T]

An AD with a watchmaker in residence has the ability to give you both.

You may also send the watch to the RSC for a service quote. They’ll be the first to tell you if it isn’t genuine. Then you can get a local jeweler do the appraisal paperwork.


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[Atone]

Originally Posted by 77T

An AD with a watchmaker in residence has the ability to give you both.

You may also send the watch to the RSC for a service quote. They’ll be the first to tell you if it isn’t genuine. Then you can get a local jeweler do the appraisal paperwork.


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If appraising for ins, they will give you only MSRP plus tax at AD as value.

[Ginsu_]

Originally Posted by Atone

If appraising for ins, they will give you only MSRP plus tax at AD as value.

DSW gave me an appraisal for insurance purposes based on replacement value, not MSRP

[huncho]

Originally Posted by Ginsu_

DSW gave me an appraisal for insurance purposes based on replacement value, not MSRP

that's only because you bought it from him i believe, since he has the receipt and knows where the watch came from and went. i'm not sure if trusted sellers do appraisals through random emails on watches they haven't just sold

i was in the same position as you, bought a watch in 2019 (from another seller here) and got an appraisal for market value, asked for a follow up appraisal recently and was told it can only be at msrp

[Ginsu_]

Originally Posted by huncho

that's only because you bought it from him i believe, since he has the receipt and knows where the watch came from and went. i'm not sure if trusted sellers do appraisals through random emails on watches they haven't just sold

i was in the same position as you, bought a watch in 2019 (from another seller here) and got an appraisal for market value, asked for a follow up appraisal recently and was told it can only be at msrp

So if I submit it to the insurance company will they insure it for msrp or the value DSW assigned to it

[Atone]

Originally Posted by Ginsu_

DSW gave me an appraisal for insurance purposes based on replacement value, not MSRP

DSW is not an AD.

[Ginsu_]

Originally Posted by Atone

DSW is not an AD.

Not once did I insinuate that he was. Thank you for adding nothing to the discussion.

[77T]

Insurers will write and rate your policy upon the appraised value. If DSW attaches his average asking price for that model, then you’ll be rated that way.

Just as an example, you will pay annual premiums that are somewhat inflated by the market value in that appraisal.

What really matters is the value a claims adjuster assigns to the item in the case of a loss. All the insurer owes us is a replacement. So if they can get a used one using their resources, that’s what you get. You will not get a check for the amount on the appraisal to go shopping. You would be reimbursed based on the terms & conditions of the policy at the time of loss.


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[dannyp]

Originally Posted by 77T

Insurers will write and rate your policy upon the appraised value. If DSW attaches his average asking price for that model, then you’ll be rated that way.

Just as an example, you will pay annual premiums that are somewhat inflated by the market value in that appraisal.

What really matters is the value a claims adjuster assigns to the item in the case of a loss. All the insurer owes us is a replacement. So if they can get a used one using their resources, that’s what you get. You will not get a check for the amount on the appraisal to go shopping. You would be reimbursed based on the terms & conditions of the policy at the time of loss.


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I don’t think that’s the case. At least for watches purchased new. I confirmed when taking out my policy that a watch purchased new from an AD would be replaced with such and was told it would. Not sure about watches purchased on secondary market.

[77T]

Originally Posted by dannyp

I don’t think that’s the case. At least for watches purchased new. I confirmed when taking out my policy that a watch purchased new from an AD would be replaced with such and was told it would. Not sure about watches purchased on secondary market.

I was referring to items that have inflated appraisals from Grey sellers. I agree a new watch from an AD would be covered as a replacement - the appraisal should reflect the original sales price & tax.

Then, each time you update the appraisals it should reflect the current replacement cost based on MSRP & tax.


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[SWS65SM]

Originally Posted by 77T

I was referring to items that have inflated appraisals from Grey sellers. I agree a new watch from an AD would be covered as a replacement - the appraisal should reflect the original sales price & tax.

Then, each time you update the appraisals it should reflect the current replacement cost based on MSRP & tax.


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So essentially you can just keep update/refresh the value of your watches with your policy writer, regardless of frequency, as long as you can obtain new appraisal from any reputable source? Does the source even need to be reputable?

[Atone]

Originally Posted by SWS65SM

So essentially you can just keep update/refresh the value of your watches with your policy writer, regardless of frequency, as long as you can obtain new appraisal from any reputable source? Does the source even need to be reputable?

That’s correct. Your insurance will update your policy with new appraisals. I just did it last month with all my pieces due to ongoing price hikes. My agent asked if I wanted to update existing items on my articles policy as it raises my premium to insure them at higher values. I, of course, said yes. It’s a negligible amount and worth the protection. Just add to any homeowner policy. It’s very simple. As for “reputable” I’m not sure. I go to a high end jewelry/watch store in BH who has a good finger on the market pulse and can easily be seen as an expert. Now, if you have your neighbor’s son’s tennis coach write it up, that may not hold water.

[Atone]

Originally Posted by SWS65SM

So essentially you can just keep update/refresh the value of your watches with your policy writer, regardless of frequency, as long as you can obtain new appraisal from any reputable source? Does the source even need to be reputable?

Oh and most insurance will require some frequency of appraisal update. I think mine is every couple of years?

[dannyp]

Originally Posted by 77T

I was referring to items that have inflated appraisals from Grey sellers. I agree a new watch from an AD would be covered as a replacement - the appraisal should reflect the original sales price & tax.

Then, each time you update the appraisals it should reflect the current replacement cost based on MSRP & tax.


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Even better, at least with JM, they automatically update the appraisal on watches purchased from ADs and appraised at MSRP. I haven't submitted new appraisals in years, but each year I see current MSRP of same/most similar model reflected in the invoice.

[raffi]

Found appraisal recc’s for Feldmar (on Pico) on the forum and have used them twice without any issues. I would imagine they authenticate as well but not sure.

[Rado63]

You need to send the watch to RSC or a Rolex AD who is authorized to provide service and they will do the authentication service and can give you the appraisal. I wouldn't expect the watch to be appraised at internet prices.

[77T]

For the new watches you buy from authorized dealers (not grey market) the best source is that authorized dealer.

If you have purchased custom or rare vintage models, that is a totally different matter - you would want a specialist to prepare appraisals.

Insurers probably would not take an appraisal from a Craigslist seller but any certified watchmaker or jeweler with a licensed store would likely be accepted.

Best to talk with your insurer.


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[Atone]

Originally Posted by 77T

For the new watches you buy from authorized dealers (not grey market) the best source is that authorized dealer.

If you have purchased custom or rare vintage models, that is a totally different matter - you would want a specialist to prepare appraisals.

Insurers probably would not take an appraisal from a Craigslist seller but any certified watchmaker or jeweler with a licensed store would likely be accepted.

Best to talk with your insurer.


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AD will only offer appraisal at MSRP as far as I know. As such, unless they are immediately sourcing you another 116500 upon loss/theft, this may not be very helpful.

[77T]

Originally Posted by Atone

AD will only offer appraisal at MSRP as far as I know. As such, unless they are immediately sourcing you another 116500 upon loss/theft, this may not be very helpful.

Yes - I mentioned it in the post prior to that one.

The delta between MSRP and availability is where some insurers have stepped up to help secure one. But that has become virtually impossible.

Replacement cost coverage is a minefield currently.


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[Atone]

Originally Posted by 77T

Yes - I mentioned it in the post prior to that one.

The delta between MSRP and availability is where some insurers have stepped up to help secure one. But that has become virtually impossible.

Replacement cost coverage is a minefield currently.


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Makes sense.

[dannyp]

Originally Posted by 77T

Yes - I mentioned it in the post prior to that one.

The delta between MSRP and availability is where some insurers have stepped up to help secure one. But that has become virtually impossible.

Replacement cost coverage is a minefield currently.


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While I have no actual evidence of this, it's another reason I'd want JM: They already do business with just about every AD out there (as their insurer). I would imagine that sourcing would be more likely with them than with a random homeowners' policy from an underwriter that doesn't have any jewelry specialty.

[Atone]

I think if you’re not using a “discount” insurance company, you’re fine. I had a boat issue that was fully covered with just a few pics, sight unseen by State Farm. You pinch pennies, you gamble.