Model Kit Values

[Ellis Kendrick]

OK, Fellow Klowns, I need some advice...
On the advice of several good friends, I am in the process of inventorying (sp?) my entire collection of UNBUILT model kits and resins. I have the following info on each (or soon will have) - Manufacturer, Kit #, Name of Kit/Model, Date of issue, special notes, and unstarted/started stage.
What I don't have is any idea or way to assess an approximate value on each kit. Now, I am fully aware that anything of a "collectible" nature (Coins, stamps, or Beanie Babies) is only worth what you can get the next sucker to pay you for it. But... if one were to have to place a value on model kits for, say, insurance purposes, where would one look to find approximate values based on age, condition, etc.?
I mean I know what I paid for most of them but, if a tornado hit my house this Spring, what kind of a figure could I give an insurance agent?
So, does anyone in "CC2 Land" have an idea of what kits are worth or where to look on the internet or a book for such figures???
Thanks!
Ellis Kendrick

[fredmellini]

If you are trying to obtain a value for insurance. You first need to contact your insurance agent, who will advise you on collectable insurance. Problem is if your house it damaged and your collection is ruined, they are only going to give you current value for that model regardless if it is a holy grail or a tuner so you will get about 10 bucks.

You have to pay a premium for collectors insurance to cover it's market value. Your home owners insurance will not cover/pay for market value. I only know this because I used to be big and heavy into collecting lionel pre-war and post trains and had a very valuable collection and looked into insurance to cover it.

You will also need to photograph or video the collection and inventory each item. I do not know what the premiums are for collectors/collectable insurance, but I clearly remember it being high dollar for my trains (but we were talking a $10,000 train collection) about 15 years ago. Maybe the premiums are more affordable now.

[Ellis Kendrick]

Thanks, Fred!
Insurance is, of course, one thing I'm considering, but I pretty well figure if a natural disaster hit and all my stash was destroyed I'd pretty well just be up that old brown creek without a paddle! I love (yes, I said L O V E ) my kits - done and undone!
So then, just as a matter of curiosity then... how would I arrive at an approximate value for a kit?
Ellis Kendrick

[soooperdave]

There are some farely reliable priceguides available, I got one by Bill Coulter and Bob Shelton. They sell them on Ebay sometimes.

[Starry Eyes]

This one's for you Fred !

fredm said:

If you are trying to obtain a value for insurance. You first need to contact your insurance agent, who will advise you on collectable insurance. Problem is if your house it damaged and your collection is ruined, they are only going to give you current value for that model regardless if it is a holy grail or a tuner so you will get about 10 bucks.

You have to pay a premium for collectors insurance to cover it's market value. Your home owners insurance will not cover/pay for market value. I only know this because I used to be big and heavy into collecting lionel pre-war and post trains and had a very valuable collection and looked into insurance to cover it.

You will also need to photograph or video the collection and inventory each item. I do not know what the premiums are for collectors/collectable insurance, but I clearly remember it being high dollar for my trains (but we were talking a $10,000 train collection) about 15 years ago. Maybe the premiums are more affordable now.

[fredmellini]

That is the 64 million dollar question!!!!!............Unfortunetly there are no current value price guides out soley for models, and although there are some for certain types of models.... most of the price guides are already out dated . There is Toy Price Guide (that is the actual name of the book) books, but they cover a large variety of toys and do hit on some models, but it is a little of each variety of model that it wouldnt really help much.

You could use evil-bay as a meter, to see what kits are bringing in value. You could certainly use the old price guides to atleast get you in the ball park. And lastly you could just grab a value out of your head that is a price that you would be willing to let your collection go for if somebody was serious and had the cash in hand to buy your collection. ;D ;D ;D ;D ;D......................There is just no one current source to find values of kits that I am aware of...........unless there is some all knowing model pricing fairy that waves a wand and pops out a value that I wasn't aware of!!!! ;D ;D ;D ;D

Thanks Starry Eyes!!!!!...........That custom hearse is KILLER!!!!! ;D ;D

[Ellis Kendrick]

Yeah, Fred, I pretty well figured that placing a price on a kit would be like trying to nail Jello on a wall... the sucker would keep moving on you before you got the nail in!
You're probably most correct in just watching eBay to see what a kit sells for every now and then. Of course, even that would change from day to day and sale to sale.
I'll probably die of old age before I get 'em all built anyway so it'll be up to my wife and kids to figure it all out! I figure even if I conservatively put an average price of $20-$30 per kit, I ought to be shot for "investing" my hard-earned money on models anyway. But, hot damn, it sure is fun!
Ellis

[Pegleg (Hotwheels Bob)]

The Directory of Model Car kits by Bill Coulter and Bob Shelton on Ebay is about $30. You can order one ( as I just did today) at [e-mail] for $23.95 + $3.00 for shipping.

[nightstalker]

Just do what I did. I opted to go for STATED VALUE COVERAGE. I pay X amount of dollars for a policy of X amount of value. I lost everything at one time and got paid out because that is the policy I purchased. No hassle, and no quesitons asked. No run around or BS hoops to jump through. I took pics and a description of what I had and paid for a policy that reflected what I wanted to value my collection at.

[bobpaeth]

Ellis, your most reliable source of value is the next swap meet.
this will tell you-the going prices locally and an idea of prices elsewhere. The prices are usually lower in the NW and higher in Ca. The condition is most important..............sealed vs opened.................opened vs partially built, etc.

bob

[Honest Charlie]

I had a water leak a few years ago and a small portion of some kits I had downstairs were water damaged. My insurance company covered it with no problems, they had a 3rd party do a check on the current value at the time and paid me what they were worth back then. (I just have a standard policy) I also got to keep them which was a plus. Other than some damaged boxes and decals all the plastic was still usable.

[whitewall]

I don't rightly know about in the states...But for me to insure my guitars, it was gonna cost about $1700 a year. I sold them. without collectors insurance, most companies will only accept a certain of peices before they become a collection, and require specialty insurance. for instrument's that number is 3. I still own 5...but I can afford to lose 2 of them. anyhoo. for a price evaluation, my insurance company will look at the following. Blak/Blue book value. Failing that they then search through the buy & sell, and if that fails, I'm fortunate enough to have a company that will search EBAY for average selling prices.
The down side is, where the hell is a blue book for Model kit's??? I've never heard, or seen of one. I think you'd be best to have an appraisal on both the collection, and individual kit's. in writing. and see if it's going to be worth your while to even bother spending close to a grand a year to insure them...or lease a storage unit for half that, and let their insurance cover it?

Some great help I am...LOL! sorry.

Kelly