Importance of the SMR price guide

onlychild

The SMR may be more important than you think.

Although this may not apply to all, many have collections that are valuable, even if they are not one of the "mega collectors".

Typically a homeowners insurance policy will usually not cover such a collection unless you have a personal article floater and a scheduled list.

Valuation is difficult, if there are no purchase receipts. Therefore, many will have to rely upon the stated values in the SMR. Many have argued that the listed values do not reflect the current market conditions.

The SMR may be more than just a price guide, it has the potential for being the “Valuation Bible” should you incur an insurable loss.

I think experts in their various collections should contribute their knowledge and assist PSA in any way possible when trying to determine values. I am sure PSA would welcome the tribal knowledge of the advanced collectors.

This is just my humble opinion.

mikeschmidt

If your collection is truly that valuable - it would not be difficult to get an expert assessment of value from an industry expert.

CON40

You could also try out these folks... I intend to get a new policy through them one of these days (the rider on my homeowner's is outrageous)... they were referred to me by the guy who owns the card shop in my town and his "real" job is owning a commercial insurance company. Interesting thing is they don't require any type of valuation for collections under $500,000 I think (it's on the website).

Collectibles Insurance Agency

onlychild

Many values are subjective, especially when dealing with low population, rare or unique cards. Establishing a fair market value may be difficult to prove. "Truly valuable" collections may differ from person to person. A $10K collection may be considerable to some, especially if one would incur an uninsurable loss. An industry expert may not be available for those that have moderately valued collections.

Those very advanced collectors should have enough knowledge and resources to properly insure their collections and values may be predetermined. As an example, a Wagner owner could accurately place a value on that card, considering its market popularity.

My point is the SMR price guide may be the only resource for most.

pc

ive been with them since aps back in the early 80s

mikeschmidt

I guess there is also the issue of whether or not you even need insurance. Most major museums, for example, don't have any because it is cost-prohibitive. Buying a fire-proof safe for your basement (fire-proof is a bit of a misnomer - they are generally heat rated), or storing in a bank safety deposit box may be better avenues. Insuring a collection usually costs a couple percent of the value of the collection, each and every year. So, in the long run, it may be pretty high in cost if there are better/other ways of protecting yourself.

mikeschmidt