[modeleng] Re: Value of models
- From: Peter Sheppard <peter.sheppard@xxxxxxxxxx>
- To: "'modeleng@xxxxxxxxxxxxx'" <modeleng@xxxxxxxxxxxxx>
- Date: Tue, 1 Mar 2005 13:25:59 -0000
Alan,
I reckon that you might be a bit optimistic with your prices.
Whilst they "could" be worth that, I would say in reality they are =
normally a=20
lot less.
With identification, if it is a steam model, it is a requirement of the =
North=20
and South Associations that the boilers are clearly marked. This is a=20
requirement for the boiler test and will be recorded on the boiler =
certificate.=20
So identification may! not be a problem.
As far as theft goes, I insure my trains through Walker Midgely for =
theft as=20
well as Third Party Liability on the LM & WR.
I decide what I reckon that they are worth and he works out the price =
(the=20
rates are clearly stated on his literature). However, there are some =
quite=20
heavy clauses on theft with regard to the level of security which means =
that my=20
workshops are better protected than the house!
I assume that if one is stolen the "loss adjuster" will haggle/agree the =
market=20
value of the engine up to the maximum insured value. Maybe it's worth =
keeping=20
photos and having "independent" witnesses prepared to support any =
statement=20
made regarding build quality etc. (That's just guesswork, I've been =
fortunate=20
in never having one stolen!)
Cheers
Peter
On Tuesday, March 01, 2005 12:46 PM, alanjstepney=20
[SMTP:alan@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx] wrote:
> I was looking at the value of some of "our" models.
>
> A 5" loco can easily be worth around =A35,000 to =A36,000, perhaps =
more.
> A large 7 1/4" loco or 4" scale traction engine can be worth over =
=A320,000.
>
> 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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