Had my two Rolex's appraised .....

[Mark]

Insurance required me to get my Daytona appraised for coverage over $5000.

I went to an AD here in town looking for a recomendation and was sent to a licensed appraisor. While doing the Daytona, I figured I get the LV Sub done too.

Approx. replacement on the SS white face Daytona came in at $12,500 based on market value. Much higher than I thought.

The LV Sub came in at $6250 for replacement.

I am pleased with the findings. My insurance company will pay off those est. replacement values.

The two appraisals cost me $150

[maverick]

Wow, I had mine done for 35 dollars each. The "F" series watches were MSRP plus tax and the others are being re-appraised due to the raising prices. =) maverick

[Mark]

I talked to several and most would only do them for MSRP. This guy had to check to see if he could ethically appraise them based on market conditions and what it would really take to replace one in a timely manner.

Like I said, insurance will pay based on that appraisal in the even of a lose. I pay like $18 a month to have them both covered at those values.

[Rockrolex]

I had all my watches appraised by an independent as soon as I bought them. I was quite pleased when they all appraised for at least twice (and sometimes three times) what I paid for them. And my insurance has a COL clause that keeps the replacement value going up on an annual basis.

[Mark]

It sure gives me peace of mind while wearing them.

Ed, what are you paying for an appraisal ? Just curious to see if I'm getting ripped off.

[Rockrolex]

Originally Posted by Rev

It sure gives me peace of mind while wearing them.

Ed, what are you paying for an appraisal ? Just curious to see if I'm getting ripped off.

I believe it was $65 per watch.

[Mark]

That's inline with what I am paying. Thanks for the input.

[Rockrolex]

Originally Posted by Rev

That's inline with what I am paying. Thanks for the input.

Da nada.

And I agree about the peace of mind it gives you when you are wearing them.

[AdamB]

Rev...just curious, as your process must be slightly different to the UK. Do you need it appraised if you are in possession of a receipt from the store?

I just sent my insurance company the receipt for RRP, told them the replacement value would be £6K, and they charged me a premium based on £6K.

I can see getting jewellery appraised, ie diamonds and such like, but why a current model watch which has a catalogue price?

[Mark]

The market value of these watches is more than retail. Also, my insurance company requires a appraisal for anything over $5000.

[Goodwatch]

I do free appraisals, just send me your watches. Just must live outside of Europe though and I have a P.B. address to send the watches to. Any takers?

[Prince]

Originally Posted by Goodwatch

I do free appraisals, just send me your watches. Just must live outside of Europe though and I have a P.B. address to send the watches to. Any takers?

LOL - Ummmm.....NO!

[C.J.]

Originally Posted by Goodwatch

I do free appraisals, just send me your watches. Just must live outside of Europe though and I have a P.B. address to send the watches to. Any takers?

I just mailed a package to you for appraisal. Don't be alarmed by the ticking, really, it's just a BIG, watch

[Mrdi]

Originally Posted by Goodwatch

I do free appraisals, just send me your watches. Just must live outside of Europe though and I have a P.B. address to send the watches to. Any takers?

OK
What's your address?

[Mark]

Originally Posted by C.J.

I just mailed a package to you for appraisal. Don't be alarmed by the ticking, really, it's just a BIG, watch

Are you really a Police Officer ?

[C.J.]

Originally Posted by Rev

Are you really a Police Officer ?

Why do you ask?

[Mark]

Originally Posted by C.J.

Why do you ask?

I think someone just made a B*mb threat and I need to report it to the authorities.

[C.J.]

Originally Posted by Rev

I think someone just made a B*mb threat and I need to report it to the authorities.

O.K. then, we'll get right on it..................................NEXT!

[Rockrolex]

Originally Posted by C.J.

O.K. then, we'll get right on it..................................NEXT!

Where's Homeland Security when you need them?

[C.J.]

Originally Posted by Rockrolex

Where's Homeland Security when you need them?

Honestly, we're looking into it .................................................. ...............Now, exactly what was your complaint again .................................................. .........Oh yes, the ticking sound, it's probably just a clock. Just wait five minutes after we leave and give it a shake

[Paul Newman]

Originally Posted by Rev

The two appraisals cost me $150

I'm a little dissappointed in you for throwing out the $150.
I would have done both appraisals for you for free.
When a stranger comes in off the street, I only charge $30
for each watch appraisal.

[RandyS]

Originally Posted by Rev

Insurance required me to get my Daytona appraised for coverage over $5000.

I went to an AD here in town looking for a recomendation and was sent to a licensed appraisor. While doing the Daytona, I figured I get the LV Sub done too.

Approx. replacement on the SS white face Daytona came in at $12,500 based on market value. Much higher than I thought.

The LV Sub came in at $6250 for replacement.

I am pleased with the findings. My insurance company will pay off those est. replacement values.

The two appraisals cost me $150

i think they pay acv at the time of the loss, and not more than the appraisal

you could have a diamond ring appraised at $10,000 but easiliy purcashed for $5000, you would get the $5000 from ins co...

it pains me to say that car insurance does the same thing, actual cash value, and that is getting uglier and uglier these days...

i would NOT pay the premium for the daytona at $12.5 when the adjuster could google a dozen of them in 2 minutes for under $10K, unless we are talking about a special Daytona and then I am an idiot, again...IN OTHER WORDS if you have a typical SS daytona that is available, used, on the internet for $10,000 or less, then if your adjuster searches the net for prices, and they dont all do that, you will then get what he finds, not the appraised price...

[Rockrolex]

Originally Posted by RandyS

i think they pay acv at the time of the loss, and not more than the appraisal

you could have a diamond ring appraised at $10,000 but easiliy purcashed for $5000, you would get the $5000 from ins co...

it pains me to say that car insurance does the same thing, actual cash value, and that is getting uglier and uglier these days...

i would NOT pay the premium for the daytona at $12.5 when the adjuster could google a dozen of them in 2 minutes for under $10K, unless we are talking about a special Daytona and then I am an idiot, again...

I think it depends on the policy, Randy. My policy (with Chubb) pays replacement value. But then I pay a healthy premium for that privilege.

[RandyS]

Originally Posted by Rockrolex

I think it depends on the policy, Randy. My policy (with Chubb) pays replacement value. But then I pay a healthy premium for that privilege.

yes, Ed...and replacement value (i misspoke and should have included that word) is either $6795 plus tax (or whatever the current price is) or $10,000 which you can find all day long on the internet...

not a price determined by an appraiser, unless that value is the value, if that makes sense...

I agree that you will get a new daytona, but if they can find them for $10,000, that is what you will get...

[RandyS]

Put it another way, we have this with vintage cars also...

you have a 55 chevy, you find someone who will say it is worth $50,000, but an appraiser finds them available for $40,000, even though you have bought stated amount coverage for $50,000 you will not collect it...

i can find an appraiser to appraise my diamond ring for a hell of a lot more than it would cost me to replace it

no insurance company/policy will everpay you more money than either the replacement cost or acv or market value of an item never

if they did they would all be out of business tomorrow, we would all buy something, have it appraised for more (appraisals are easy to get, even legitimate ones, that show higher values than they really are, especially jewelry)

i am willing to be wrong, if someone has collected several thousand dollars more than the value of something I will be open to hearing that...but if you check your policy I thinkyou will find this to be the case

[Rockrolex]

Originally Posted by RandyS

yes, Ed...and replacement value (i misspoke and should have included that word) is either $6795 plus tax (or whatever the current price is) or $10,000 which you can find all day long on the internet...

not a price determined by an appraiser, unless that value is the value, if that makes sense...

I agree that you will get a new daytona, but if they can find them for $10,000, that is what you will get...

I agree, Randy, but if you paid less than $10K and that's what it costs to replace it, you're still ahead of the game. It's when you pay that ridiculous premium for an SS Daytona and then you have to get a new one at list, that's when you get screwed. But, then, who told you (that's a generic "you") to pay the premium in the first place.

[RandyS]

wanna know what is crazy

when I first saw a daytona, I said what is the big deal especially what is the deal with NO DATE

i didnt even like the layout of the dials

well, it took about a year or more, and the biggest influence was seeing them on the wrist of someone on tv or in a movie, for some reason my eye went straight to it

now I must have one

[Rockrolex]

Originally Posted by RandyS

wanna know what is crazy

when I first saw a daytona, I said what is the big deal especially what is the deal with NO DATE

i didnt even like the layout of the dials

well, it took about a year or more, and the biggest influence was seeing them on the wrist of someone on tv or in a movie, for some reason my eye went straight to it

now I must have one

There's only one Daytona I want:


I've had it on my wrist and it is stunning on.

[JJ Irani]

Originally Posted by Rockrolex

There's only one Daytona I want:


I've had it on my wrist and it is stunning on.

No doubt about that, baby....Ed, it's an absolute cracker!!

[gforce]

Originally Posted by Rev

I talked to several and most would only do them for MSRP. This guy had to check to see if he could ethically appraise them based on market conditions and what it would really take to replace one in a timely manner.

Like I said, insurance will pay based on that appraisal in the even of a lose. I pay like $18 a month to have them both covered at those values.

18 bucks a month to cover them?
what kind of insurance you use to cover a Rolex?