I only recently learned that coverage provided through standard homeowner insurance policies is not sufficient for a homeowner that is seeking replacement cost coverage for a large inventory of high value items. If you insured your piece, examine your policy and coverage. Identify the most prominent designers of that period and establish the demand for pieces similar or the same as your Drexel piece. If the Drexel piece is a rare piece produced as a limited edition piece and is one of a limited number produced by Drexel, search for vintage furniture collectors that limit their vintage furniture collection to Drexel or the specific era pieces similar to the style and period your piece had been produced. My advice to you is to first identify the reason you need an appraisal. Admittedly, I quickly changed my perception of the appraisal process and the entire experience after I discovered the GIA certified appraiser valued the piece at nearly double the value written on the initial jewelry store appraisal! Without the certified GIA appraisal, the replacement value of the piece appraised on the first document would have cut my income in half. for the certified GIA appraisal I needed to comply with State Farm policy requirements and to obtain coverage. I felt inconvenienced and my bank account balance was less $300. In Houston and surrounding areas, only one GIA certified appraiser existed! Admittedly, I was irritated because State Farm changed its rules and requirements several times. Nine days later, State Farm notified me that the appraisal from the jeweler would not suffice and it required an official document prepared by a GIA certified jewelry appraiser. Prior to writing and issuing a personal property policy for a piece of jewelry I received as a gift, State Farm initially requested an informal document from the jewelry store where the piece had been purchased to determine the replacement value of the jewelry. In my experience, large insurance companies like State Farm, almost always require a certified appraisal prepared by a reputable, highly trained, experienced expert certified by a particular entity to establish and verify ownership of the item and determine the replacement value of the property based on specific criteria. Thanks, Rob! He wrote:ĭo you need an appraisal for the Drexel piece you recently purchased to obtain personal property insurance policy coverage or to add additional coverage to an existing policy? Or, do you need the appraisal to establish the marketable or re-sale value of the Drexel piece for personal asset value or record management? Are you trying to develop a financial or estate planning strategy for the division of your assets to specified beneficiaries? Whether a certified appraisal of the Drexel piece you recently purchased is required, desired or simply a more official declaration of its asset value, an appraisal prepared by a renown, highly qualified, experienced, certified expert can be somewhat costly and more expensive to obtain than most individuals initially anticipate. Anyway, hope you enjoy! – CatherineĬatherine, did you say “Catkin”? That bed was surely destined for you! And from your Great Grandmother, no less! Thank you so much, this Drexel furniture is AWESOME! More posts on it to come – the original post inspired some other content, including a reader purchase! Rob’s vintage Drexel Declaration bedroom set:Ībove: Added March 2014 - Reader Rob sent us these four photos of his vintage Drexel Declaration bedroom set. She had marked the ones that were “mine” and even wrote the price next to our Catkin bed – $79!!! I just love the living/dining room scene!! Wish I could find that living room set. Here is one of my Drexel Declaration ads that was in the drawer of the dresser that I bought from my Great Grandmother. Retro Renovation stopped publishing in 2021 these stories remain for historical information, as potential continued resources, and for archival purposes.įollowing the “original” Drexel post (where we also met Troy of Troyland), the wonderful Catherine kindly scanned some precious vintage Drexel advertising to share with other readers.
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