The Breitling Watch Source Forums

Dracha - Insurance values are often that, in the UK theres a quaint programme called "antiques roadshow" and they usually give two valuations- insurance and auction/private value- insurance is usually nigh on double auction/private sale value. An example being "at auction this is likely to fetch £2000 but for insurance purposes I'd value it at £3850." so coltstrongs insurance value is probably spot on.

The problem with so called insurance valuations is that insurance companies don't go for them!

The original concept was that it would reflect true replacement cost including the potentially higher price one would have to pay in an increasing / seller driven market and the potential costs involved in chasing down a particularly rare item. That's fine for a rare antique, but this is a second hand watch that is relatively common. 12k is 3 to 4 times market value, an insurance company on this piece would only agree to close to market value.

Roff, there's definitely 2 schools of thought here and I've heard that POV before. In my experience they send baby adjusters and lawyers to do the first rounds, they get paid often by the action. They need to show they've adjusted. These people frankly don't care how much your watch is actually worth from what I've seen. They want to show that they brought your number down.

They are going to hit you with some lower numbers whether you have a traditional replacement appraisal which tends to be high for several reasons, or if you give them a "firesale" number.

Insurance companies are very willing to accept excessive appraisals and the accompanying higher premiums.

Desert Hiker