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Watch Evaluation

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  • 13-05-2015 3:44pm
    #1
    paul7g
    Registered Users Posts: 266 ✭✭


    Hello,

    I've just insured a watch, as part of my house contents insurance.

    The insurance company require a watch evaluation, as the watch was not bought in Ireland, therefore the receipt does not suffice.

    Are all jewelers likely to provide this service, or would they be reluctant because i did not buy the watch from them. The watch is a well know brand and model so they will not have a problem putting a price on it.

    Appreciate your thoughts on this.


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    #2
    Homer
    Registered Users Posts: 4,263 ✭✭✭Homer


    If the jeweller is familiar or stocks the particular brand and they have a watchmaker on the premises who can open it and verify it is genuine they will charge for the service. Some jewellers will charge a percentage of the perceived value of the watch and some will charge a flat fee for doing it.

    If it is an expensive piece which I presume it is, as you are listing it as a separate item on your insurance, then it's going to cost to get a valuation.

    Any of mine that had to be listed as specific items were in excess of €2.5k IIRC

    What is the make and model and maybe we can steer you in the right direction?


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    #3
    paul7g
    Registered Users Posts: 266 ✭✭paul7g


    It's a Breitling Navitimer GMT - €8,200


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    #4
    Homer
    Registered Users Posts: 4,263 ✭✭✭Homer


    Your best bet is to pick up the phone and ask the likes of Weirs, Sheerans and Dawson Jewellers etc and ask how much they charge but I'd expect in the region of €100 minimum for a valuation for insurance purposes. Don't think you'll get it any cheaper than that.

    Oh.. And post some pics!! Nice watch.


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    #5
    Mredsnapper
    Registered Users Posts: 477 ✭✭Mredsnapper


    Homer wrote: »
    Oh.. And post some pics!! Nice watch.

    +1


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    #6
    Wibbs
    Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 60,092 Mod ✭✭✭✭Wibbs


    I've often thought about this subject, but it gets all sorts of hairy when it comes to the vintage stuff. Who would you go to in that case? As it is I have a pretty good idea of the value of my various bits and bobs. I have an idea of the "christ, I need to offload this watch this week" value, the "forum sale, where I can afford wait a while" value and the "Dealer" value. Depending on the watch this can vary quite the bit. My scant enough to be fair Irish jeweller experience with various vintage pieces wouldn't exactly inspire confidence. I once had a chap in a well enough known name jewellers ask if one of my early 1900's trench watch was hard on batteries… :D He wasn't a youngfella on a summer job either.

    Rejoice in the awareness of feeling stupid, for that’s how you end up learning new things. If you’re not aware you’re stupid, you probably are.



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    #7
    StealthRolex
    Registered Users Posts: 1,293 ✭✭✭StealthRolex


    The insurance company wants to know how much it will cost them to replace the watch.
    Best way to assess that is to look at the second hand watch dealers and see what it would cost to replace the watch. You can do this for free and send them a sample of links to the websites.
    I'm not sure what the valuation spread would be but it shouldn't be significant.

    If you bought the watch from new you should be covered for the full replacement cost and not the second hand replacement value. If your insurance company will not do this change company to one who will.
    Paying out 8K for a watch and then only getting 3 or 4k out of them to replace it with a second hand one if it is lost or stolen is not pleasant.


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