How do YOU evaluate the price of the books in your collection? 4 4

[thunsicker]

On 2/28/2022 at 5:48 PM, Math Teacher said:

On 2/28/2022 at 12:20 PM, thunsicker said:

Depends on what I'm estimating for.  For sale?  For insurance purposes?  Just for the fun of it?  I tend to be conservative in my valuations for insurance purposes.  I would probably not estimate and just let it go at auction if I was looking to sell.  As for just for the fun of it?  All my comics are worth $10 million dollars each.

I'm definitely not looking to sell. I do it for insurance purposes. And I choose not to be conservative. If I have an AF #15 CGC 2.5, should I value it as $37,000, which is what it was worth about a month ago, or should I value it as $55,000, which is based on a recent sale?

If you are doing it for insurance purposes you may want to contact the insurance company and find out how they value the comics on pay-out.  No use in insuring your AF #15 CGC 2.5 at $55,000 if they will only pay you 12 month average.

[troydivision1]

On 3/2/2022 at 12:15 PM, thunsicker said:

If you are doing it for insurance purposes you may want to contact the insurance company and find out how they value the comics on pay-out.  No use in insuring your AF #15 CGC 2.5 at $55,000 if they will only pay you 12 month average.

That's a fantastic point that I never thought about.
How do they determine FMV if an item is one-of-a-kind?
Has anyone on these boards had to file a claim for a collectible like that before?