Purchasing grey - appraisal request

[wildcatrx]

Hey everyone,

How many have purchased grey and requested an appraisal form for insurance purposes? I haven’t had any issues in my past acquisitions but my most recent rolex purchase It seems the company is not wanting to produce one. Is it due to the current landscape of the Rolex market?
Thanks!

[JSolution]

Originally Posted by wildcatrx

Hey everyone,

How many have purchased grey and requested an appraisal form for insurance purposes? I haven’t had any issues in my past acquisitions but my most recent rolex purchase It seems the company is not wanting to produce one. Is it due to the current landscape of the Rolex market?
Thanks!

It’s not worth anything anyway, I wouldn’t worry about it. (These appraisal forms dealers provide this is not the watch)

[MichelleP]

I've never had any issues getting an appraisal. If it is for insurance, insist on it or make sure the sales receipt references all info

[wildcatrx]

Just want one for my insurance policy only. Not sure though if it’s strategic for the grey dealer to not want to do it with concerns if the Rolex AD will be traced? Purchase Transaction was smooth just the request for an appraisal isn’t. I should have put the request for one before the purchase but I didn’t think it would be an issue since it hasn’t been for me in the past.

[KevNev]

Is it the same company you’ve received an appraisal from in the past and now they don’t want to provide one? Or is it a different dealer?

I haven’t come across any issues yet.

[ol' Rex]

Just remember:

Even if a person pays a million dollars for a tulip, that doesn't mean that the insurance company is going to reimburse a person a million dollars for a stolen tulip...

[wildcatrx]

I’ve purchased from this company in the past (non Rolex). I did not request an appraisal with those purchases. The other grey dealers did produce one upon request but those were also non Rolex pieces too. This is my first grey rolex pickup.
Thx

[Calatrava r]

I would think any reputable dealer would give an appraisal on a watch they sold. Most insurance companies I believe, accept the bill of sale as a basis for the coverage anyway. Any AD should appraise the watch for you, although there may be a charge as the watch was not purchased there.

[wildcatrx]

Requested a receipt since that may be sufficient for insurances purposes. Haven’t gotten a response back though with that request too.

[Cauhauna]

Insure with Hodinkee via Chubb, no appraisal required on watches worth under $100K

[wildcatrx]

Thanks for the info. I’ll check it out!

[joli160]

In my part of the world an appraisal issued by any seller is worthless.

Only an official appraiser report is considered correct if ever you need to go to court.
Insuring watches without an official report would be silly. These insurance companies go to great lengths not paying or limiting the payment of claims.
You need proof of the value of your watch otherwise you are left in their hands

[hutch300]

Originally Posted by Cauhauna

Insure with Hodinkee via Chubb, no appraisal required on watches worth under $100K

THIS!

In the past when I was with Jewelers Mutual I never had any issues getting one. Hodinkee has a much better process. I moved everything to them.

[brandrea]

When I used to insure my watches, the insurer I used required appraisals and my AD provided them to me

[Tri-Tip]

I bought my EXP II from OCROLEXGUY and he provided me an appraisal when I picked it up.

[SudiYunus]

Shady dealers that deal with illegally obtained pieces, would try not to put SN on receipt/ note or letter, to minimize accountability. Less info of the watch written Black on White is better for them. So they just gonna put, ie: Rolex Explorer II, $xxx and maybe (year).

[wildcatrx]

Thanks everyone. I have jewelers mutual for my other pieces but for this particular piece I went with Chubb HODinkee as recommended since I don’t have receipt or appraisal. Communication with the sale was fluid but when I asked for itemized receipt or appraisal no acknowledgment or response. The company has good reviews what I’ve seen in the past. I’m enjoying the timepiece but disappointed with the drop in communication for the specific request.

[Mr Ben]

Yes - I got an insurance valuation certificate with my grey purchase. The guy I use issues one with every higher value watch he sells.

My insurer doesn’t require it but good to have it in the unlikely event it’s ever needed if a claim’s being made.

[Sgooter]

A detailed sales receipt should suffice for insurance coverage.
That said, why would any jeweler not agree to provide an appraisal?
Does a jeweler's appraisal expose any risk to the jeweler or the buyer?

[wildcatrx]

In this instance, Perhaps the grey dealer doesn’t want to leave any trail how it was obtained a new piece from the Rolex AD? I don’t think the requested appraisal or itemized receipt would be big deal. The dealer should just be upfront and give me a reason and not blow me off.

[bullies]

I've requested them before from greys and they've sent over. I've also sent the insurance co's the invoice and that has also worked

If the dealer won't provide an invoice with serial on it I'd be asking a lot of questions...

[Rolex1982]

Originally Posted by joli160

In my part of the world an appraisal issued by any seller is worthless.

Only an official appraiser report is considered correct if ever you need to go to court.
Insuring watches without an official report would be silly. These insurance companies go to great lengths not paying or limiting the payment of claims.
You need proof of the value of your watch otherwise you are left in their hands

I’m from NL also, where did you insure your watches?

[wildcatrx]

Originally Posted by Tri-Tip

I bought my EXP II from OCROLEXGUY and he provided me an appraisal when I picked it up.

Was it the most recent explorer model or an older one?