The MLP Arena
Pony Talk => Pony Corral => Topic started by: FlyingPonyMonster on June 21, 2012, 11:45:22 PM
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So I know there have been various threads about insuring ponies but one question I don't think I've figured out is how do you inventory your ponies and accessories and confirm values for insurance purposes.
eBay values aren't always a fair reflection, ponies will often sell way below or over their value to a collector. I would hate to lose my collection and the values be based on a rogue rapunzel that sold for 99p! (lol)
You can obviously print off PayPal invoices etc but what about where you buy at a ponymeet, boot fair, from another collector of send PayPal directly so no note what it is for?
How do you keep note of value? And keep proof for insurance companies?
The insurance value is the value it could be replaced at and obviously it's the collectors who determine that by how much they're willing to pay.
There's no expert we can have to offer a formal valuation of the collection is there?
I'm thinking about in future asking all arena people To include a receipt confirming how much was paid and what for but what about the 1000 ponies we already have! ?!?!
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Well similar situation my roommate just had to do an huge internet search and catalog for her dad's baseball memorabilia for his insurance. Alot of research there. Insurance took what she came up with.
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I'm sure the insurers would just accept a PayPal receipt as true value :)
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Its a tough conversation because as you know there are not actual "pony valuers"...but at the same time auction prices are not necessarily right as sometimes we pay too little and sometimes we pay too much. As much as you are right about the random 99pm Rapunzel being undervalued if that was a finished price, likewise if we pay £80 for a Baby Gusty [for whatever reason - bidder war or just that we "must have her"] thats not a fair price either.
When I spoke to an insurer they asked for a breakdown of everything - a total for each "item" [1 item would be Red Roses with her ribbon, barrette and comb]. Personally I have gone with "valuations" on what the item sells at - i.e. an ebay search and a search here will give you an average for her price [although this is prone to change maybe its just that you will have to adjust value over the years - as with many collectable items what they are "worth" in 2003 may not be the same as in 2013]. The key is surely to simply insure for the total value of the collection and get documentation on the number of ponies and items within that collection in order to "justify" that total valuation. Individual insurance companies will no doubt look on this differently.
Its a lot of work but I guess its best to work your way back through the 1000odd ponies you have - take a picture, number the picture, add the "value" against the number on a spreadsheet.
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Yes that's what I was thinking cat!
Here's to inventory day!!!