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17 September 2015, 06:01 AM | #1 |
"TRF" Member
Join Date: Sep 2015
Real Name: Rickey Higgins
Location: Huntington, TX
Watch: 1680 Sub in white
Posts: 354
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Appraisal value for 1680?
I was advised to get the value of the watch for my insurance coverage from the AD. They told me the value of the Submariner would be the replacement cost which is the current retail cost of a new Submariner. I thought the value would have to be adjusted for age, but I guess even 1977 Subs are still valued near current production ones?
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17 September 2015, 06:09 AM | #2 |
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Join Date: Sep 2008
Location: North Florida
Posts: 16,568
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Well, a new Sub is definitely worth "or has" a higher retail value than the white 1680 production as pictured. I think that would work. Unless you have all the accessories, etc.
It's up to you what you value, you can also tell them less but then will you be able to replace it at that price... |
17 September 2015, 06:10 AM | #3 |
TRF Moderator & 2024 Patron
Join Date: May 2007
Real Name: Larry
Location: Mojave Desert
Watch: GMT's
Posts: 42,991
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A value for insurance is usually replacement cost. This is not an appraisal, it is the cost to make you whole if your watch needs to be replaced.
An appraisal is for the actual market value of the watch. If you have a Red Sub or a Newman Daytona you want actual appraisal value. For most else you want replacement costs.
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17 September 2015, 06:54 AM | #4 |
"TRF" Member
Join Date: Sep 2015
Real Name: Rickey Higgins
Location: Huntington, TX
Watch: 1680 Sub in white
Posts: 354
|
I also suppose that the "value" statement for the insurance company is as much a concern to determine the Submariner is real and not a fake. So that makes sense in that respect too. The AD said it is a "replacement cost" seeing that it's getting the same model and not trying to find and buy another 1977 Sub 1680.
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