Your fur coat, fur jacket, fur cape, fur stole, fur trimmed coat, shearlings coat and shearlings jacket are each valuable. It’s important that they are insured and for the correct value amount.
Types of Fur Appraisals
There are two types of appraisals for your fur:
- Replacement: this is for insurance purposes and is the estimated cost to replace your fur.
- Cash Value: what your fur is actually worth.
What is your fur worth?
Very often clients will have an unrealistic expectation of the value of their used fur garment. This is usually because they are basing it on the insurance quote and not the cash value.
An insurance appraisal on a fur garment is an estimate of the retail REPLACEMENT price. It covers the cost of a NEW item that is similar to the one you own – i.e. what it would cost to replace yours if it were stolen, lost or destroyed with a new garment of the same fur, style, length, size and quality.
The CASH VALUE of a fur is usually significantly less than the insurance appraised value. The price we pay for a fur garment or the listing price of a consigned garment is objectively determined by factors such as the age of the fur, its condition including the skins, style, size, length and marketability. Age has less to do with the value of a used garment than the care it has been given over the years (proper cold storage during the summer months is a huge factor).
Getting Your Fur Appraised
Regardless of where you purchased your fur(s) we can prepare a written appraisal for your insurance or estate needs as well as for resale (cash value) purposes. If you are local to the Metro Detroit area and are able to bring your fur in the fee is $30.00. If you would like us to pick up and deliver your fur the fee is $65 with a $25 deposit.