Appraisals

[Orv Reichert]

I Have to tell this story...especially after TINMANs diatribe!


I inherited a lovely man's diamond ring from my dad. Because I got it but have two sisters, we had to establish a value so they could be properly compensated.


I took it to a jeweler that was well known to me [I was his banker]. This are the values he gave me:


For Insurance purposes.............$9,000

trade in on a more expensive item..$7,000

Cash he would pay for it?..........$2,500


Now, I ask you......what is the value of the ring?


Orv Reichert

[SteveM]

What would it cost to replace it? Ask your jeweler what he would sell the same diamond for at retail.


Most homeowner policies only cover jewelry up to a certain dollar value. Anything over that will require a "rider" to the policy(as you are probably aware of).


I'd get 3 different written appraisals for replacement cost and go from there.


Steve

I think that we all look at advertised prices of Lugers and other guns and tend to think of them as values. If we happen to own an example of an over priced Luger we think "look what they are getting for one just like mine" If we don't own one of them we think "I wouldn't pay that kind of price for it". Chances are no one else would either. Luger guys will apraise something for you and it may be near advertised prices----then they will offer you 30% less to buy it. On the rare occasion that I have advertised a Luger, I try to price it at a price that I would consider a decent or better deal if I was buying. It is frustrating to us collectors and probably new guys especially when advertised prices are assumed to be the value[what I can get for it] and then discover that they own something which will require a few years to get back the original purchase price. I have followed some Lugers on major lists that were of interest that remained on the list for some years at the same price. They eventually sold after inflation caught up with the advertised price. I some times think that so called values are driven up in this manner. It is hard to buy something from someone that doesn't care or not if they sell it. Once again I say: Don't pay too much attention to the sales pitch. If you are not sure what you are buying---then maybe best to shop around for a while. Of course if the price is dirt cheap--buy!buy!buy!

[lugerholsterrepair]

I agree with Art. I have used Ralph Shattucks and Bob Simpsons published lists of lugers for sale along with the Blue book of Gun Values.Most people I have talked with hear stories from others who tell them their Luger is worth "THOUSANDS" Of course finding a condition valuation is always subjective. Most dealers will offer you less than it's worth for very valid reasons. Traveling to gun shows with table rent, gas ,food ,lodging etc eats away lots of profit so not everyone who offers less than you think it's worth is out to screw you. Maybe if you want to sell, it makes sense to sell to a collector who is not a dealer. He has a lot less overhead and probably will not want to sell the pistol as soon as he gets it. Lets face it, we all want to come accross someone who wants to sell a luger dirt cheap. A guy came to me wanting to sell a Luger locally and was not happy with what I offered. I told him to take it to all five Gun dealers here in town and I would give him $100.00 more than any written estimate he came back with. I bought it for $300.00 It sometimes depends on the local market since many people do not know how to reach a larger one. Jerry Burney