Best route to value and insure an "oldish" rolex

[phelix_da_kat]

Hi,

I was looking for advice for insuring a late model black SS Daytona (Zenith movement).


1. What is the best way to get a valuation for insurance?
Would you just use the "list price" as the valuation or is it better to get a valuation based on the fact it is a Zenith movement?

2. Where would you recommend getting the valuation?
eg a Rolex AD? auction house? second hand luxury watch shop?
Do people have an idea of costs?

3. I am now in the UK, so which providers would you recommend for a watch only insurance please? Do people have any estimates for what would be a fair price for premiums?


Thank you all!

Phelix

[Leasky]

Hello Phelix.

I have recently been through this same process.

I bought a GMTc to add to my humble collection but that pushed the insured worth over a certain value.

Due to this, my insurance company (RSA) decided that the watches had to be taken to the nearest Rolex dealer and valued.

The values given in the written report (also containing photos taken by the A/D) are all for the current replacement value of the nearest applicable watch.

I insure my watches as part of my House insurance, so I am unable to pass comment on who to use to just insure watches.

Certain companies may impose stipulations ie alarm systems, window locks, 5 or 7 point door locks, safes, cctv, etc.

RSA (Royal Sun-hill Alliance) are charging me £22 per month for a safe full of watches worth over 35K and that is with me complying to all the above security requirements.

Good luck and please let us know who you go to and what kind of deal you are getting.

Colin.

[phelix_da_kat]

Thanks Colin.

So it seems like the minimum I should be able to get is:
- under house insurance
- new for old (so long as I have it valued regularly and readjust the value with the insurers)

Ok, I will still look for some possibilities of "old for old", as the Zenith is special to me.
Will keep you updated.

If other members would share their experiences I would be grateful.

Thanks!

[hsfrank]

It seems to me that you will never get new for old UNLESS your policy is an agreed value policy and you insure for replacement value. It is a basic caveat for all insurance to replace like for like. So if a 19xx Daytona can be replaced for $7000 ( as an example) you will get $7000 even though you insured it for $10,000 and paid premium based on that. Insurers have the option of repair,replace or pay the value of like kind & quality.