[Boatanchors] INFLATION

Fri, 31 Jan 2003 10:02:40 -0800

Of course this what you have to do. Even on cars, a 
commodity that is extremely well documented on market value. 
My insurance company (a biggie, State Farm) made me an offer 
on a car I totalled (replacement value). I rejected the 
offer and went around to used car lots with my best suit and 
drove the Cadillac and inquired about the price of cars like 
the one I totalled. I made a chart showing the asked for 
prices from 7 lots, adjusted for accessories and options 
using Kelly Blue book and presented this chart to the 
adjuster. The met my price of $8780 rather than the $4565 
the originally offered.

Even with UPS, I negotiate the costs of shipping damage and 
successfully. The adjusters will always deny or lowball, 
it's their job, and you must present knowledgeable facts to 
move them, but they do move.

WBob

Duane Fischer, W8DBF wrote:
> Todd (and all) 
> 	
> 	Let me share a real example of what this does, as it happened to me last month.
> 	
> 	
> A firm called Nice Network was hired by my insurance company to provide them
> with 'actual cash values' of my damaged stereo and radio equipment.
> Additionally, to reccomend comparable replacement items. Most of the damaged
> items were vintage. 	
> 	
> The company used EBAY prices as a benchmark. They used ads they found on
> bulletin boards. There was no place for them to go to get an actual value ona
> Hallicrafters S-120 or Sony TA-1144 (1970 solid state stereo amp). 	
> 	
> If the price was high, the insured might benefit, but if the price was low, the
> insured might lose. This was what happened in my case. Because they could not
> find one vintage transciever, they picked another they thought might be like it
> and quoted that value. The man who did the work for Nice Network was of the
> consumer grade mentality. He had no experience or knowledge with high end audio
> or radio communications equipment. The net result was misinformation fed back to
> the insurance company. In short, I was lowballed in a big way. 	
> 	
> I was able to document all of what I had and prove its value. After some moving
> up the ladder of the insurance adjuster ladder of rank, I finally was able to
> convince the powers that be that the company they paid was simpy mistaken. they
> agreed. But only because I supplied evidence of the equipment's value from the
> real market. I brought in consultants to state the values and to show with
> specifications the comparable units for a fair replacement.    	
> 	
> This was a two month struggle. I did win, but I am sure not many in this
> position are as fortunate as I was. I was prepared with the ways and means to
> supply the information to validate my contentions. 	
> 	
> So the prices shown on electronic auctions do have a great impact on individuals
> even for replacement cost insurance claims. 	
> 	
> Now what is truly fascinating, is when more of an item ever produced suddenly
> start being sold! Hmmm. Like the proverbial fruitcake. Only one that keeps
> circulating among thousands for decades!	
> 	
> Duane W8DBF	
> 
> 
> ----------
> From: Todd Bigelow - PS <[email protected]>
> To: Duane Fischer, W8DBF <[email protected]>
> Cc: JOE <[email protected]>; [email protected]
> Subject: Re: [Boatanchors] INFLATION
> Date: Friday, January 31, 2003 10:32 AM
> 
> 
> "Duane Fischer, W8DBF" wrote:
> <snip>
> 
>>The down side is, that sellers believe that these outrageous prices accurately
>>reflect what the market value of a given item is, and then try to sell theirs
>>for the same amount. The losers are the 'real' collectors who do not have that
>>type of cash to throw around. Hence, the 'real' collectors many times are
> 
> denied
> 
>>a piece of history that in their hands would survive and prosper.
> 
> 
> Now you've hit the nail right on the head here, Duane. This is what I see as the
> only true potential problem with a high selling price on an item, particularly
> so
> visibly. For many years collectors have bought automobiles and any other number
> of
> things and been willing to pay a high price. Most of the time this takes place
> in
> private with little or no fanfare (like the KW-1 bought by a fellow in Japan for
> $46K+ and air freighted over), so it has little if any impact on the rest of the
> market. When you have high visibility like a public auction, then it suddenly
> changes. The recent Barrett/Jackson auto auction in AZ is a good example as it
> is
> considered as the benchmark for prices the remainder of the year.
> 
> The good part of the $10K SX-88 is that it will likely bring a few more out into
> the
> light of day to be restored, enjoyed, and used (this is when you find out
> exactly
> what certain people prefer more - radios or money). Bad side of this is that as
> you
> pointed out, the sellers will expect similar prices simply because one or two
> people
> were willing to pay a very high price for a very clean example. Some will be
> foolish
> enough to bite and gobble up what they can get fearing prices will go higher
> (the
> Collins feeding frenzy a few years back comes to mind, and now you see it for
> sale
> constantly) instead of seeing this for what it is: a person who appreciates old
> gear, wanted this radio and could afford to pay whatever it required to have it.
> However, I tend to believe as I said before that someone willing to pay that
> much
> for a fairly scarce (but very clean) example of a radio does so because they
> want it
> to enjoy and not to turn a profit on. We have to know that this radio will
> likely
> survive longer than many others out there. It's clean, it's cool, and it's owned
> by
> someone who's estate will draw great focus and attention one day (not trying to
> rush
> anything here!).
> 
> I'm so glad I'm in the 'user' category and relatively poor in comparison....I
> don't
> ever have to worry about such issues. Makes enjoying radio so much simpler.
> 
> de Todd/'Boomer'  KA1KAQ
> _______________________________________________
> Boatanchors mailing list
> [email protected]
> http://mailman.qth.net/mailman/listinfo/boatanchors
> 
> 