Appraisal for insurance

[Harkovchan]

Hello TRFs

Are there any appraisers on here? Or somebody that can help out with an appraisal (free:))?

I saw a few people who said they could do it for free for TRF members but haven't heard back from anyone yet.

If anyone can help, i would appreciate it!

Additionally, can somebody suggest: is it best to insure based on new replacement value, OR the value you paid (obviously there is generally a fair difference between buying a new rolex in store, and buying a new rolex here (and here the price is WAY more awesome).

Thanks,
Valentine

[mjclark32]

Whomever you bought the watch from should be able to appraise it for you

Replacement value for me

[VentoGT]

Replacement value or "appraised value" is often in excess of what you actually paid. In my opinion, that's the way to go if you unfortunately have to claim something. This is the case with all jewelry on my policy. I think Jewelers have the ability to appraise at a greater value than you paid to reinforce that you got a "good deal".

[Chewbacca]

you're in South FL? go to aventura mall and ask for a trade-in value at one of the AD's. get it in writing and ask them to add the ser# to the estimate.

there's your free no-shame appraisal.

[Quailhunter]

My watches are insured through a rider on my home owner's policy. The cost is about 1% of the insured value per year. I have the watches insured at 100% of what a new watch would cost. My insurance company requires an appraisal from an authorized Rolex dealer. I am a long term customer at this AD so I don't get charged for an appraisal even if the watch was bought elsewhere. I have the watch appraisals updated about every 5 years.

[encarter13]

Originally Posted by Harkovchan

Hello TRFs

Are there any appraisers on here? Or somebody that can help out with an appraisal (free:))?

I saw a few people who said they could do it for free for TRF members but haven't heard back from anyone yet.

If anyone can help, i would appreciate it!

Additionally, can somebody suggest: is it best to insure based on new replacement value, OR the value you paid (obviously there is generally a fair difference between buying a new rolex in store, and buying a new rolex here (and here the price is WAY more awesome).

Thanks,
Valentine

With the two Rolex watches I have purchased, the AD has given me an appraisal/replacement letter for me to give to Jeweler's Mutual. The letter always list MSRP of the watch and the taxes.

[Harkovchan]

thanks for feedback, however currently in NYC not Fl.. and also since i am wearing the watch for a week now. it's technical no longer new, so i feel that the "trade in" value, will be different from replacement value.

What have people here done, when buying a watch from other forum members in terms of getting a quick and easy valuation....?

[mjclark32]

Originally Posted by mjclark32

Whomever you bought the watch from should be able to appraise it for you

Replacement value for me

Originally Posted by Harkovchan

thanks for feedback, however currently in NYC not Fl.. and also since i am wearing the watch for a week now. it's technical no longer new, so i feel that the "trade in" value, will be different from replacement value.

What have people here done, when buying a watch from other forum members in terms of getting a quick and easy valuation....?

I'll go a little further on what I've already said. If you've bought it from one of the trusted/volume sellers here, request an appraisal. I've done it and it's worked fine for Jewelers Mutual.

[Ferdelious]

Did you purchase from an AD or independent seller? Either one should be able to provide an appraisal. If not find a local jewelry appraiser, it shouldn't be much.

[SilverBack_]

JM allowed me to use the bill of sale. Worked like a charm.

[JLM3]

You can get a app from for 75 to 100 bucks at AD.

[vman]

A watchmaker can give you an appraisal too, especially if the watch in question is a recent model from a popular maker.

[MCOSUB]

Originally Posted by SilverBack_

JM allowed me to use the bill of sale. Worked like a charm.

This is what i did with JM also.

[blue lion]

I didn't buy my watch at an AD but they appraised it including a photo for $75 about 3 years ago.

[Harkovchan]

So typically when everyone insures it, do you specify, with deductible, or without?


Going back in forth the last few days on this point as well

[Quailhunter]

I don't understand how a deductible would apply. Just insure for what the replacement would cost.

[GreenLantern]

All insurance policies have deductibles (though often you can select $0).

[Speed]

Originally Posted by Harkovchan

Hello TRFs



Are there any appraisers on here? Or somebody that can help out with an appraisal (free:))?


Thanks,

Valentine

Do you work for free?

[drefrank]

Generally speaking, most insurers will prefer a bill of sale when a watch has been recently purchased. This is because it is an accurate representation of your interest (financial) in the item.
The most common way to to insure the watch is via a ryder onto your homeowners policy. The other popular method is a stand alone Inland Marine policy (Jewelers Mutual). Both have very broad coverage and no deductible.

[sfc rick]

Most Rolex owners simply go to the AD and get them to provide the replacement cost at Retail value on their company letterhead of the same model. My watch is 40 years old but it's valued at the current Submariner retail value. Which is near or about the same nowadays.

[Pte6000]

I have a VPP (valuable personal property ) policy with USAA
Their site is great if you are constantly changing watches.
You can upload photos, appraisals, ect for each watch, also remove or add watches right on the site.