Valuing your watches for insurance question

[tobywatches]

I've been asked by my insurer whether the combined value of my watches passes a certain threshold. If it does they'll no longer insure me.

My problem is I've a number of watches which are no longer available. Some are limited editions that are long sold out, some are Mk1 of watches that exist still but in a different form (Seiko Monster, Tudor Black Bay Black ETA, Pelagos ETA), some are LE's from brands who no longer exist at all (Stuckx), some are watches that still exist but whose movements have changed (Straton Syncro Auto...you can now only get it in MecaQuartz), some are LEs where even the standard version of it doesn't exist any more (Oris Flight Timer R4118LE), others are standard models which are no longer made and the brand doesn't do anything comparable that would be an obvious replacement (Zenit Pilot Big Date Special). In fact as I go through them I can only find 4 watches that are still available new in the same form as the one I own.

So for those of you who have to itemise your watches with your insurer or, like me, need to have a rough combined value in your mind (they are happy to risk going a little over as it's an estimate rather than scientific), how have you valued each of your watches?

Have you taken them all to a professional valuer? If so how do you account each year for price changes etc? I've over 20 watches and don't want to have to pay out for that service repeatedly - it would be more than the insurance costs! Also some of mine are pretty random and I'm not sure if a valuer is gonna be up for valuing microbrands, for example.

If you've not taken them to a professional valuer is there any sort of science I can apply? One of the most difficult to value, for eg, is my Navitimer 125e Anniversaire LE. I look at Chrono 24 and it has 3, all of which are the black model, around the £4k mark. The limited run included black and brown and the brown is FAR more limited so do I factor that in? If so, how much more? I can't find one online at all to give me even a vague guess at a replacement cost.

Any help would be gratefully received. I'm in serious admin mode right now as we're moving house!

[Scepticalist]

I'd say with that kind of collection you're far better off with specialist insurance anyway as they;re likely to agree a value and will know to take into account any rarity. Standard home insuirance only really covers the simplest options and they're more likely to argue with you over minor differences making a huge difference in value - not the thing you want to worry about in the event of a big claim.

I have the two watches that are over my home insurance single item limit itemised and then up the values to market value every year when I renew.. For the half dozen that are well under the limit I just keep record of purchase and photos of condition and make sure the overall house contents claims limit will cover them.

[watchlovr]

You have a difficult task, sorry I cannot help.
I will also add to your problems by saying; an insurance valuation is usually 1.5 to 2 times what you could potentially replace your watches from a private deal.
It is actually what you would pay to a bricks and mortar London store.

[MartynJC (UK)]

I wouldn’t use Chrono24 to estimate (or eBay). It is a tricky one as a lot of insurance do “new for old” so would give you the value of the nearest available model. Sorry can’t really help further.