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[Pat-K]

Hi There


I am fairly new to the world of RC model boats and have been buying a few up but I can to thinking bloody hell may have quite a lot in terms of value here and was thinking about house contents insurance, I know this will be very subjective and the pictures are not that detailed as I don't want to send 1000's and pee everyone off but would anyone like to hazzard a guess at the value of each model - all have servo's motors rx and rx, if the model has more that one motor it has an esc per motor and they are all Mtroniks.


If you feel happier please feel free to PM me rather than making an open post.


Many thanks






Pat

[Pat-K]

Next One

[Pat-K]

And the next

[Pat-K]

and the next

[Pat-K]

5

[Pat-K]

6

[Pat-K]

7

[Pat-K]

8

[Pat-K]

And Lastly

[Pat-K]

Sorry I told a lie I have two more

[Pat-K]

And the last really

[Neil]

Sadly it is not a case of what they are worth as a model for sale on the market such as ebay or any of the facebook forums.


When it comes to the antics of an insurance loss assessor, as they have little or no idea as to how many hours it would take to rebild or replace a model as such as some of those you have which even as bare kits would be anything from 3 -500 quid.

And insurance companies are not in the game of supplying you with the generosity of a Loss Adjuster to make sure you get a fair price.

 The only way for you to get a fair price is to find someone with a good pedigree in building models to give you a price as to what they as a semi proffessional builder would charge, and justify in materials, time and cost of man hours what their cost would be, and put that in writing with their credentials and photos of their own builds..............

And even then you would be on a hard upward slope to even get what a modeller would charge you from an insurance point of view.

However, what concerns me is how many of those models still have the batteries in side the boats, swetting away, just ready to burst in to flames, and even sealed lead acid batteries can do that.

 Always keep your batteries out of the boat and preferably in a cool shed.

[Pat-K]

No batteries in the models always removed after use

[JimG]

I wouldn't be too worried about batteries left in boats (or other models). Having been building and running RC boats and aircraft for around 50 years using SLA, Deacs, NiCd, NiMh and LiPo packs I have never had a battery burst into flames when left sitting in a boat, plane or on a shelf. I've had the outer casing on an SLA split when left without charging for some months and blown the insides out of a NiCd pack when fast charging. (Overheated due to leaving it on charge too long and I had blocked the vents when soldering wires to the end. Used to fast charge NiCd packs using a timed charger with adjustable current charge, batteries would get hot by the end of the charge and there were occasions where the pack had to be dunked in the pond to cool down before use.) I happily leave receiver packs in my planes when not flying as they tend to be awkward to get at and one jet turbine has 2 LiPo packs left in place as they are hard to reach to remove and refit them.  Modern chargers used properly have basically removed most of the risks with batteries especially Lithium cells. How often do you remove the battery from your phones or laptops?
Jim

[ChrisF]

I agree with what Neil says including that it is very unlikely you'd get the full value back.

I think best you can do is price up each model, as far as you can, for the kit, materials, motor, prop shaft and the RC equipment and then accept that the time in building/refurbishing is your hobby.

Or as a quick assessment work on £500 as an average per model.

Chris

[roycv]

Insurance is to cover you for things you cannot afford to lose like a house.  Also you have to insure by law for cars etc on the road and some professions.
After that consider whether you have a local problem like subsidence or are close to a river or flooding.  Lets face it if you get flooded out and the boats do not float off the insurers are going to wonder why!

This country has more insurance per head of population than anywhere else, we get frightened into insuring our possessions.  I purposely did not insure a new kitchen 20 years ago as the cost would fund a new kitchen item every 3 years and that was unlikely to happen.
My experience is that if a heavily used item like a dishwasher, washing machine or TV needs a repair it is cheaper to have it repaired locally or buy wisely with 5 or 6 years visiting warranty and anything after that is a bonus.

Five years ago I had to claim on my house insurance due to a badly installed bathroom fitting which leaked over time into a dividing wall.  There was a lot of damage and drying out and replacement of the shower room (contents tiling and a new shower unit plus fittings) was expensive but mostly covered by the insurance.  Contents insurance for the adjacent bedroom was available but the compulsory excess was the cost of carpet etc anyway so no claim was put in.  Incidently this did not affect the following years premiums. 

My first job was working in London in an insurance company, I was but young but took in what was happening and on reflection it was an up-market betting shop!

I always have in mind the guy sitting on his yacht in the Cayman Islands sipping his G&T.  All paid for by me as I was worried about a loss that might possibly just happen.  If it was very likely to happen you could not afford the premium!

Make what you will of the above but think of how likely a thing is to happen as a way of considering your own risk.  If you do not take proper care of your property the insurance will not pay as they will regard it as your own negligence! 
The claim I made was due to the incompetence of a plumber as he did not screw up the water fittings properly, difficult to prove as it had happened the year before!

Roy

[Colin Bishop]

I doubt if you would get more than a rough approximation based on current EBay prices for similar models - which should be more or less what you paid. For models you build yourself then I think Chris is right, the most you could claim would be for the cost of the kit (or a notional sum for materials if scratch built) plus the cost of fittings and electronics. There would probably be a mark down on the resulting total unless you have new for old insurance. Best thing is to thoroughly photograph and document each model inside and out so you have a basis on which some sort of valuation can be made. Leisure time spent building has no value attached to ii.

Taking Roy's point about insurance generally, yes much of it is a scam, particularly when it comes to extended guarantees on electrical appliances etc. However there are also instances where it is essential. There was a report last week of a girl who was on holiday in Turkey and, unbelievably, a hang glider landed on top of her while she was sitting in a cafe. Jaw and spine broken in more than one place. She had not taken out travel insurance and her dad has had to find £7k for immediate treatment with another £45k needed to treat the spinal injuries. They don't have the money. OK, getting hit by a hang glider is a bit unlikely but medical emergencies are quite common abroad and the financial consequences without proper insurance can be crippling. Even worse if you go on a cruise and have to be airlifted off the ship.

Colin

[roycv]

Hello Colin I forgot about travel insurance!  Yes I do have travel insurance as there are too many impoderables involved and I was indeed taken into hospital 3 times while I was in Australia earlier this year.
However while UK residents are visiting Oz they are covered by a reciprocal agreement with the NHS called Medicare and excellent it is too.  So there was no cost to the insurance company.

My travel insurance paid a princely sum of £25 per 24 hours in hospital and I had a small claim on this basis but after I made a case for the spoiling of my holiday, they did refund the extra I forked out for upgrading my return journey to Premium economy. as I was still feeling unwell.

I do not pay for separate travel insurance as I purposely have our joint accounts with Nationwide which 'gives' me and my wife excellent year round travel cover and Roadside recovery for a modest sum each month.  I am sure there are other accounts that also give benefits!

But by looking at what is worth having it does reduce wasting your money on what just seems like a good idea.  I would not consider insuring my model boats and yachts (all 40+ of them) as you are unlikely to lose them all.  Anything that did lose them all would be much more of a problem than my hobby!

I do handle sales of models within the club usually from estates and have come to the conclusion that a kit as soon as it is started reduces in value even though a decent model may be the outcome.  But as of now even the kits although unstarted do not have many buyers.  I have to dispose of 3 unstarted decent kits which I have found very difficult to pass on.
 So valuations of models may attract high premiums usually at a fixed rate per cent.  When compared with current selling prices.  Almost certainly that there will be a compulsory excess to take into account as well.
Recent sales on this website reveal low prices and few buyers. 

As I have said before, Insurance is for what is out of your control, too expensive or when you go off to unknown climes.
Regards
Roy






   

[dougal99]

Several years ago, at the Dortmund show, I was asked to provide valuations for the models we had on display, but told to make them 'realistic'. Several other club exhibitors of some very nice 'museum quality' models had quoted up to 4 figures. This caused the total value of the models on display to exceed 6 figures. When the organiser went to the underwriter he just laughed!
A Model's value, like beauty, is in the eye of the beholder (or in this case the builders)

[Colin Bishop]

I think Charles Miller is the only specialist auctioneer now dealing with model ships. They are very choosy and only take items such as builders models and models with special interest or provenance. They don't accept kits and only occasionally take amateur made 'museum quality' models'. April 2024 results below.

https://www.charlesmillerltd.com/auction/search/?au=61&sd=2

The late Brian King's models were put up for sale in 2016 at Ewbanks of Guildford. These were absolutely top quality examples of the modelmaker's skill and the sale was well advertised. Overall the prices realised for the models were disappointing and in no way reflected the research and time put into them.

The market is still poor for model boats and probably hasn't improved much since then.

https://www.ewbankauctions.co.uk/Fine-Art-Antiques/2016-03-17

Howes Model advertised pre owned model boats for sale, mostly kits which you can see here:

https://howesmodels.co.uk/product-category/radio-control/radio-control-boats/pre-owned-model-boats/

Colin

[roycv]

We had some excellent and modern kits available at our exhibition a few months ago.  I made a cheeky offer of £60 for a aprox £200 kit and am now the owner.  I bought it with the intention of building not for re-selling.  There was another there that I had bought 6 months back, as I thought at a good discount, but available at half that amount.
I think we are seeing the start of the old kit builders stopping due to age eyesight or fingers that no longer do what they did.  On top of that their models are also available.  We have a bad time for selling but a good time for buying providing you have the expertise to look after the models.

Not so many people can do this now as we are now more than 2 generations away from the old manufacturing age and the personal skills needed at the time.
I look at some of the ebay models and closer inspection can leave a party rather disappointed with the ability of the builder.
Roy

[Stavros!]

an absoloute minefield no 2 people will value a model boat anywhere near each other No ins company will pay out on any modle boat unless it is an agreed value and has provenance eg winning at high profile shows the trouble is you can not put a value on any kit build or scratch built one simply because you can not charge for your own labour....it is simply a labour of love.........you chose to own and build it i am not going to say how much mine are valued at but lets put it this way every modle that is over £500 to replace had to have an agreed value and this is where the problem arises 3 auction houses valued one at £650 and the highest was at £1500 how they got this price lord knows out of space methinks especially as no one actually saw them only pictures and no i am not at liberty to disclose who valued them or who i am insured with.....having looked at the pics i would say anything from £300 to £600 depending on the build quality ....best of luck getting insurance on them


Stav

[Colin Bishop]

Quite right Dave, for a model value all you can do is to stick it in an auction and see who turns up on the day and wants to buy it. It is a complete lottery. Setting a household insurance value is pretty much impossible.

Best insurance is to make sure you have working smoke detectors!

Colin

[TheLongBuild]

7

Nice to see another Modeen Boiler and launch,  not seen many of these around. Mine has been in a few editions of the MB mag.

[roycv]

Hi I think the genuine value at an auction is not what the final knockdown price is, but the one before.  So somone else has put a value on it and been outbid!
Roy