Wed 10 Sep 2008
Okay, just a little more about the flood in the basement.
We’re working on an inventory of all the damaged goods. We live in a bungalow, and the basement was mostly finished, so at least half of what we own was down there. And a whole lot of it was contaminated by the sewage water. The list is already up to almost one thousand items.
We’re also pricing everything. Our insurance is for both replacement value and actual cash value, depending on whether we intend to actually replace everything within 120 days. We’ll replace as much as we can. But what a job pricing everything. Some items we know the price; others we can only guess at. And what do I do for my vinyl collection, all of which I lost? My old VHS tapes? Do I price vinyl at the cost of a CD? Do I price VHS at the cost of a DVD?
I have no idea.
Do you?
September 11th, 2008 at 11:58 am
http://www.musicpriceguide.com
September 11th, 2008 at 4:15 pm
i would think the vinyl would
go according to today’s vinyl
prices or if its collectible,
as a collectible.
vinyls are becoming increasingly
popular, so you should get a
decent return on them specifically.
With VHS, unless its only been
released on VHS today and not
made the digital maarket, than
i think its safe to say you can
trust your own judgement of
what its worth and its value to
yourself.
September 19th, 2008 at 9:57 pm
My parents just went through for insurance for $7000 worth of jewelery that was stolen from them by a couple of gypsies. They priced the items at the original cost, and ended up getting only $4000 back. Insurance companies often have an automatic “depreciation” reduction, so don’t go on the low side of your estimate, because they will drop it automatically anyway. If anything, think about appreciation. Original cost is not necessarily the true value.
Just my two cents. Don’t undervalue your possessions because they automatically will.
September 20th, 2008 at 5:09 pm
Aiyiyi!!
Joe (and Linda and family) – so sorry to hear of the disaster. Yikes. Good luck with all that.
Can I buy you lunch?
September 20th, 2008 at 9:27 pm
Thanks Andrew, Carol Anne, Mai-ling..
Ron: Let me think… Yes!