$15,000.00 Triple Date

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03Hemi

·Nov 6, 2019

Came across this on an auction site and busted out laughing when I read the appraisal.
Maybe this guy is best friends with the appraiser or maybe a relative? The watch did sell for over $2,400 fwiw.
Thought you could use a laugh or cry if you sold yours for less than $15 grand. lol

 

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X350 XJR

·Nov 6, 2019·Vintage Omega Aficionado

Most (perhaps all) appraisals aren't worth the paper they're printed on, so yet again another perfect example.

 

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03Hemi

·Nov 6, 2019

I think I'd of let the watch get stolen for that amount and made a claim on my insurance, that's criminal! hahaha

 

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padders

·Nov 6, 2019·Oooo subtitles!

I talk to people often who have jewellery with an appraisal 'for insurance purposes' which says their item is worth £10K or whatever. I then ask them out of interest how much they paid. They look smug and say ' £3K' meaning they think they got a great deal. It hasn't occurred to them that they are having to insure a £10K risk on something with a replacement value in the trade of maybe £1K. Appraisals are a massive con and no one catches on until they try to sell and wonder why they recoup a tiny fraction of the stated value.

 

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Davidt

·Nov 6, 2019

Appraisals are absolutely worthless.

You see people listing vintage jewellery on eBay with appraisals for £3k so they list with a start price of £2.5k. I'm looking at it thinking "that's worth 500 quid tops".

 

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simonsays

·Nov 6, 2019

When I bought my 1st watch from a pornbroker for £395 he gave me a valuation certificate for £850. Very nice it was too, all penned in italics. It did make me feel a bit better about dropping more money than I could afford on a 2nd hand watch.

 

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Evitzee

·Nov 6, 2019

It's Canadian dollars, so about $11,780 USD. Still crazy, just not quite as crazy.

 

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03Hemi

·Nov 6, 2019

I see it all the time when buying firearms, some people can’t figure out why that 2k dollar gun they paid for is only worth $6-800 at the gun shop trading or selling? It’s good to have friends that own gun shops.

 

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03Hemi

·Nov 6, 2019

padders

I talk to people often who have jewellery with an appraisal 'for insurance purposes' which says their item is worth £10K or whatever. I then ask them out of interest how much they paid. They look smug and say ' £3K' meaning they think they got a great deal. It hasn't occurred to them that they are having to insure a £10K risk on something with a replacement value in the trade of maybe £1K. Appraisals are a massive con and no one catches on until they try to sell and wonder why they recoup a tiny fraction of the stated value.

True when trying to sell, but if you have “replacement value” vs “ACV actual cash value” on your ins rider you should be reimbursed the replacement value. I have USAA and know for a fact if your item is stolen or lost with the right coverage, you have pictures and an appraisal from an authorized appraiser they’ll stroke you a check for that replacement value. This is USSA, most other ins companies will try and cheat you though.

 

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Claven2

·Nov 6, 2019

Lol. Appraisers work for you and will write whatever you want. My buddy is an appraiser for guns. First question he asks is "is this for a divorce or insurance?". The figure he tosses out depends how you answer.

 

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03Hemi

·Nov 6, 2019

I like your friend. My biggest fear is my wife sells my collection for what I told her I paid for them when I die! Just kidding of course, they’re part of my sons inheritance.