Whether you’ve inherited a few pieces of jewellery, are starting to collect sports memorabilia, or have invested in wine or fine art over the years, your collectables are a part of your history and your story. They may even be worth a substantial amount of money. Any time you own a valuable collection, consider getting the items appraised. Here’s why:
Wardrobes tend to be routinely overlooked, despite regularly containing highly valuable clothing collections. From bespoke designer dresses and extensive shoe collections to suits, luggage and designer handbags, high net worth individuals can have wardrobes worth upwards of £40,000 for women and £35,000 for men. For people with a dedicated interest in clothing, these figures can increase significantly.
Collections can fluctuate in value based upon the market. The price of gold, for example, has been steadily increasing over the last few decades meaning vintage pieces in your collection may now be significantly more valuable today than at any point previously.
Different types of valuation may assign the same item with different prices. Fair market value, for example, is the price at which an item would change hands between a willing buyer and a willing seller. Retail replacement value is the highest amount that would be required to replace a piece with another of similar age, quality, and condition. This value is typically used for insurance purposes.
At Chubb, we have a list of trusted, professional appraisers ready to help. Contact us today and learn what your valuables are really worth.
Chubb – expert insurers of your most valued possessions.
All content in this material is for general information purposes only. It does not constitute personal advice or a recommendation to any individual or business of any product or service. Please refer to the policy documentation issued for full terms and conditions of coverage.
Chubb European Group SE trading as Chubb, Chubb Bermuda International and Combined Insurance, is authorised by the Autorité de contrôle prudentiel et de résolution (ACPR) in France and is regulated by the Central Bank of Ireland for conduct of business rules.
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Chubb European Group SE is an undertaking governed by the provisions of the French insurance code with registration number 450 327 374 RCS Nanterre and the following registered office: La Tour Carpe Diem, 31 Place des Corolles, Esplanade Nord, 92400 Courbevoie, France. Chubb European Group SE has fully paid share capital of €896,176,662.
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