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State of SHOCK
Topic Started: Jan 11 2009, 07:07 PM (627 Views)
Stangfreak
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Convertible
Our insurance company sent a rep out to the house to up-date our assets and replacement values on our household and personal items about two weeks ago... The insurance rep. was really impressed with my diecast collection in my toy room... He said he wasn't qualified to appraise the collection as far as value or replacement value, so they sent out another man the following week to appraise my collection... From the work I have done in my basement building the rooms oner the last year, the toy room, a full bath room, exercize room, and a second living room, furnace room, storage areas, and extra closets upped the value of the house about $28,000.00... OK, I guess...
We recieved an appraisel in the mail Saturday to submit to the insurance company for replacement value of my diecast collection... I am still in a severe state of shock... The man inventoried 3,472 cars of 1/18, 1/24, 1/43, and 1/64 scales... He had set an average price of 10 dollars per car bringing my replacement value to $34,720.00... added in $280.00 for tools and materials I use for customs and dioramas, bringing the total to an even 35 thousand dollars...
This is way more than my tools and work truck is worth that I make a living with... For all the extra stuff my wife and I have acquired over the last 10 years is only going to cost another $46.00 per year...
I am really shocked to find out my collection is worth that kind of money... You guys should check into this stuff... If you should get flooded, tornado, hurricane, or fire, what would ya do ?
I would have jumped off a cliff or something, but now I would just cry all the way to the bank !!!


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This stuff is worth way more than all my guitars, amps, recording equipment, drums, and all the other music stuff I have also... I still am having a hard time getting it to set in !!!
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camarors
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Station Wagon
I had someone look at my collection about 7 years ago. He was in the die cast business, and just what he could see, he figured $10,000. We didn't even go though all of the totes. I only had about 2000 pieces then, and that's before I started customizing and buying tools. I have a lot more now.

Maybe it's time to have an insurance rep out.
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Dadvball
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Dadvball
I've got no where hear the amount of stuff you guys have. That's amazing to think it would be worth that much.

By the way, great set up you have. Thanks for the pics. :thumbup:
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69Stang
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Station Wagon
I always love seeing pics of your room!!!! I do need to upgrade my poilcy as well. Good reminder.
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Swifty
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The Mustang II is a Mustang too!
For insurance purposes, that's probably a pretty fair estimate of the cost to replace everything in the event of a disaster. Resale value is unfortunately probably not even half that. The sad fact of our hobby.

As for me, if something happened to my diecast collection I'm not sure what I would do. Even if it was insured, replacing everything isn't a simple matter of hitting eBay. Some of this would be nearly impossible to find again. Factoring in the loss of my childhood collection as well, there's no amount of money that can replace that.
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jedimario
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RAWR
Wow! That's a whole lot of money. I should shopw my girlfriend this, maybe she'll quit thinking my hobby is so stupid/childish :lol:
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Stangfreak
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Convertible
Swifty
Jan 12 2009, 01:34 AM
For insurance purposes, that's probably a pretty fair estimate of the cost to replace everything in the event of a disaster. Resale value is unfortunately probably not even half that. The sad fact of our hobby.

As for me, if something happened to my diecast collection I'm not sure what I would do. Even if it was insured, replacing everything isn't a simple matter of hitting eBay. Some of this would be nearly impossible to find again. Factoring in the loss of my childhood collection as well, there's no amount of money that can replace that.
Very well said Swifty, and I agree 100%... That's exactaly how I feel... That's why I said "cry all the way to the bank" This is something that cannot be replaced... I don't care if the man said it's worth $100,000.00 or $1,000.00... But I don't know what I would do, guys like us could never start over... How could ya ?...
How could any fun come from knowing what you had and looking at what ya got now...
I never, never even had a remote thought of value or disaster until now...
I suppose 35,000 dollars could buy alot of diecast stuff, but no where near what I have and the sentemental value it has... You couldn't replace all the old JLs, or the old MBs or the old HWs that mothers, grandmothers, fathers, grandfathers, sisters and brothers gave ya for birthdays or Christmas... It just wouldn't be the same at all... I would not even consider selling my collection for 35 grand if someone was to offer, and your 100% right about being in reality worth half that...
This is weired to think about !!! Now I"m worried !!!
Edited by Stangfreak, Jan 12 2009, 08:54 AM.
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jedimario
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RAWR
Wow, if someone appraised my collection for $10 per car, I just might accidentally leave most of them on the street in a bad part of town :lol:

Some of the cars I would not want to lose but in reality I think I could replace all but a small handful of pieces for $12,000.
Edited by jedimario, Jan 12 2009, 10:38 AM.
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SSChevyman
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SUV
Insurance is very smart. I think Hagerty or one of the collector car insurance companies also DOES Insure toy car collections as well as your own insurance company. 35,000 for my inventory of cars, no way, Double it maybe!! But at least you get something out of it. I have about 50,000 for mine,but I am sure it is time to up it as that was 5 years ago.
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hwsascha
Subcompact
interesting calculation of $10 per car
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