[modeleng] Re: Value of models
- From: "Andy A" <AndyA@xxxxxxxx>
- To: <modeleng@xxxxxxxxxxxxx>
- Date: Tue, 1 Mar 2005 22:40:59 -0000
Hi All
I looked into using an electronic tag for protecting against theft of models
about a year ago and posted the question on the previous email list. At the
time Andy said he was going to launch a company to do the same thing called
Model Secure, any news Andy? I believe a lot of the stolen models don't stay
in the UK and are exported which is why not that many are ever recovered. If
the serial number that should be stamped onto the boiler ,as Peter has a
said, were to be available on a central database for club 'officials to
check then it would help act as a deterrent, and at least give some means of
verifying ownership.
When it comes to insurance the dedicated model policies offered by Walker
Midgley have some advantages. The value you insure your model for is what
you get if it is stolen, you wont get an assessor trying to negotiate the
price down, that I believe is a condition of the policy, unlike if you use
your household insurance. The other advantage is accidental damage. If your
model falls off the steaming bay and is damaged, the dedicated policies will
pay out for it to be repaired. That is a big advantage when you consider the
damage that can be done, yes I know it sounds unlikely but I've seen it
happen and the boiler took the impact. If that model had been covered by a
dedicated model policy then a new boiler could have been purchased. That at
least was the situation when I spoke to Tony last year. Information I have
to hand shows premiums for insurance, with Walker Midgely, at about £7 for
every £1000 pounds insured.
An engine is only worth what someone is prepared top pay for it, and seeing
the way a couple of the dealers turn stock over I don't think the prices can
be that wrong. Generally the more coveted or unusual the model the higher
the price. For example a 5" Britannia, 9F or A3 are very desirable models
that not many people make and so when they do come onto the market they
fetch a correspondingly higher price (I'm not talking Winson/Modelworks kits
they are a different ball game). A model that has been made closer to
prototype will also generally fetch slightly more than a model built to the
basic design. Martin Evans B1 is a good example, as designed the engine and
cab is wider than scale by approx. 1/2" and the tender is 9/16" to short. I
believe the wheels are also the wrong diameter to be scale not to mention
the incorrect position of the steam pipes to the cylinders and the wrong
style tender body. Small details I know but they all seem to make a
difference. I have a friend who deals in models and so have a pretty good
idea what my collection is worth, but I've never been turned away when
calling other dealers to get some idea of valuation as long as you are
straight and up front about why you are calling. Otherwise look at the
websites of the major players and average the prices.
Andy
x
----- Original Message -----
From: "alanjstepney" <alan@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx>
To: <modeleng@xxxxxxxxxxxxx>
Sent: Tuesday, March 01, 2005 12:46 PM
Subject: [modeleng] Value of models
I was looking at the value of some of "our" models.
A 5" loco can easily be worth around £5,000 to £6,000, perhaps more.
A large 7 1/4" loco or 4" scale traction engine can be worth over £20,000.
That raises several points.
At those values, models are attractive to the light fingered brigade.
Fortunately, the size and weight limits it, and the
limited market reduces opportunities to sell stolen models, but even so,
some do get taken.
Security is important and I suspect many people dont take as much care over
this as they should.
In the event of theft, identification of the model can be important. What
are the best ways?
Also in the event of theft, I suspect that the usual household insurance
will not cover such values. Does anyone have specific insurance on their
models against theft and if so, how did they get over the valuation problem?
alan@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
www.alanstepney.info
Model Engineering, Steam Engine, and Railway technical pages.
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