Vintage and antique paddle values

davelanthier

Wooden Canoes are in the Blood
I recently lost my antique paddle collection to a fire. My insurance agent suggested trying to claim them through the home insurance as antiques. My question is where and how can one establish values on Canadian paddles such as Chestnut and Peterborough?
 
I was thinking eBay too, but it's important to follow specific auctions to see what they actually sell for.
 
In 1991 I lost four canoes and two classic cars when my garage burned. I made a claim for the canoes on my homeowners policy but because they were not specifically listed on the policy the most they would pay was $500 total. Basically what happened was I called the insurance company, told them what happened, what I was claiming and their response was, "Jim who?"

I hope you make out better than I did.

Jim C.
 
Dave:
First, a couple of questions: were these full-size or 'sample' paddles? do you have any recent photos which would establish their identity, condition and existence? I would be happy to try to help you with valuation.

Second, some comments/suggestions on ways to go about dealing with insurers when it comes to buying insurance coverage for collection items. There are some specialty insurance companies, like Haggerty, who deal in coverage for antique or collectible items. That can help, but there are also ways to try to accomplish this through your regular household insurance, without getting into excessive cost.

To begin with, everyone should take the time to do a 'household inventory' of everything you own, and up-date it regularly. Yes, it's a real pain in the butt to do, and will take a day. In case of loss however, it will save a lot of grief. Itemize everything you own on a Master List. Then, write down values next to each item; you can do this as "current value" or as "replacement cost". Next, take a camera/cell phone and photograph everything. In each room, take a photo looking four different ways. Photo contents of drawers, inside of closets, don't forget basements, sheds, garage. A bit of work, yes! But when the insurance company tries to avoid liability, this wins your argument very quickly. Give your agent a copy of this material; keep another copy off-site, at work or a friend's home. Why? So you don't lose your evidence in the fire that destroys your goods.

Have a chat with your agent; he/she will likely tell you that you need a special 'fine arts' rider or endorsement, or that you will have to pay extra to cover 'special items'. Nonsense; you can have them covered as part of your regular household contents. You may not be getting 'all perils' coverage, but you'll likely have the same fire and theft coverage the rest of your things are covered for. You don't have to spend extra premium cost to buy more than basic coverage, if you don't feel you need it. Just make sure that the amount of coverage is sufficient to insure the total value of your personal property - the 'bottom line' value figure on your inventory. If your policy doesn't provide enough, you can get the personal property value increased for a slight additional cost.

When it comes to antique items, sometimes their market value may be more than what you paid; collections can increase in value over time. Question here becomes: do you want to insure for full value, or simply enough to cover your investment cost? Whatever you do, be sure to itemize each of the collection pieces with a photo and an "agreed appraised value". You may need to have someone with acceptable credentials attest to these values - a certified appraiser, or someone who is knowledgeable/acceptable through trade experience (eg., a canoe dealer). Get your insurer to acknowledge, in advance, that these are "agreed values"; this can be stated right on your policy. Should a loss ever happen, you file your claim and ask for your check. If the insurance company baulks, you pull out your policy and show them that they "agreed"; therefore, no further arguments over the amount of loss. Recent photos will attest to the existence of the goods. Tell the insurer to "pay up, or be prepared to hear from your lawyer."

Have a full discussion with your agent all the way through. Be open; tell him/her that you do want coverage, that you want good business relations, that you do not want to have a loss or to file a claim BUT, if the time comes, you want speedy resolution and full payment of your loss. Good, reputable companies want the same. If you have done your homework in advance, it will save a lot of hassles.

I am in the position where I have had to do this. I have an inventory; I have gathered the evaluations of my own collection from other competent friends. I have a policy with extra/additional amount; my collection is valued at a fraction of its replacement value, but enough to cover my investment. AND, my policy states these values are "agreed" in advance, so as to obviate any hassles in case of loss.

So, it can be done. Happy to answer any questions should further help be needed.
Good luck,
Roger
 
Dave:
First, a couple of questions: were these full-size or 'sample' paddles? do you have any recent photos which would establish their identity, condition and existence? I would be happy to try to help you with valuation.

Second, some comments/suggestions on ways to go about dealing with insurers when it comes to buying insurance coverage for collection items. There are some specialty insurance companies, like Haggerty, who deal in coverage for antique or collectible items. That can help, but there are also ways to try to accomplish this through your regular household insurance, without getting into excessive cost.

To begin with, everyone should take the time to do a 'household inventory' of everything you own, and up-date it regularly. Yes, it's a real pain in the butt to do, and will take a day. In case of loss however, it will save a lot of grief. Itemize everything you own on a Master List. Then, write down values next to each item; you can do this as "current value" or as "replacement cost". Next, take a camera/cell phone and photograph everything. In each room, take a photo looking four different ways. Photo contents of drawers, inside of closets, don't forget basements, sheds, garage. A bit of work, yes! But when the insurance company tries to avoid liability, this wins your argument very quickly. Give your agent a copy of this material; keep another copy off-site, at work or a friend's home. Why? So you don't lose your evidence in the fire that destroys your goods.

Have a chat with your agent; he/she will likely tell you that you need a special 'fine arts' rider or endorsement, or that you will have to pay extra to cover 'special items'. Nonsense; you can have them covered as part of your regular household contents. You may not be getting 'all perils' coverage, but you'll likely have the same fire and theft coverage the rest of your things are covered for. You don't have to spend extra premium cost to buy more than basic coverage, if you don't feel you need it. Just make sure that the amount of coverage is sufficient to insure the total value of your personal property - the 'bottom line' value figure on your inventory. If your policy doesn't provide enough, you can get the personal property value increased for a slight additional cost.

When it comes to antique items, sometimes their market value may be more than what you paid; collections can increase in value over time. Question here becomes: do you want to insure for full value, or simply enough to cover your investment cost? Whatever you do, be sure to itemize each of the collection pieces with a photo and an "agreed appraised value". You may need to have someone with acceptable credentials attest to these values - a certified appraiser, or someone who is knowledgeable/acceptable through trade experience (eg., a canoe dealer). Get your insurer to acknowledge, in advance, that these are "agreed values"; this can be stated right on your policy. Should a loss ever happen, you file your claim and ask for your check. If the insurance company baulks, you pull out your policy and show them that they "agreed"; therefore, no further arguments over the amount of loss. Recent photos will attest to the existence of the goods. Tell the insurer to "pay up, or be prepared to hear from your lawyer."

Have a full discussion with your agent all the way through. Be open; tell him/her that you do want coverage, that you want good business relations, that you do not want to have a loss or to file a claim BUT, if the time comes, you want speedy resolution and full payment of your loss. Good, reputable companies want the same. If you have done your homework in advance, it will save a lot of hassles.

I am in the position where I have had to do this. I have an inventory; I have gathered the evaluations of my own collection from other competent friends. I have a policy with extra/additional amount; my collection is valued at a fraction of its replacement value, but enough to cover my investment. AND, my policy states these values are "agreed" in advance, so as to obviate any hassles in case of loss.

So, it can be done. Happy to answer any questions should further help be needed.
Good luck,
Roger
Totally agree
 
Hello, I'm a newbie here. I came across this Paddle that my Dad bought back in about 1970. It is 63" long and 5 1/2" wide. Dad passed away shortly after purchasing and this has been sitting in a closet since. Question is, is there any value to this paddle? The sticker does say Fredericton. I've looked on ebay etc, and can't find anything like it. Any help regarding this would be appreciated, Thanks Perry
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Dave, have a look at your policy, if its an all risk there may be a sub limit for sporting goods but not likely any thing specific. is it a commercial or home owners? once thats sorted, if i was adjusting your loss i would simply ask you for a suitable replacement for each. I think you'd have an easier time demonstrating , for example, a replacement cost for a new birdseye paddle from a contemporary supplier rather than playing the antique factor up. Shaw and Tenney for example will charge more for a new paddle than i think anyone could sell acomparable antique paddle for. In this case you'd surely be better served and make it a less complicated claim for the adjuster by presenting your loss this way if replacement cost is what the policy makes provision for. Feel free to contact me if you wish, Best of luck, Andre
 
Hi Perry,
Yes original Chestnut paddles are valued by some for their "display" value.

The paddles were available from Chestnut during the years of canoe production and varied greatly in materials, shape ,size and construction. Some solid wood, others laminated construction. I have 4 solid paddles of different lengths - 2 are soft wood- spruce perhaps? - and 2 are maple, one a beautiful birds eye maple but heavy as hell! I have paddled with each of them but they are NOT my wood paddle of choice. ( Much prefer cherry wood Kettlewell Ottertails...)

On my original 1971 price sheet: "Standard paddles- 4'9 to 5'6 are $5.25; 5'9 to 6'3 are $6.00".

They come up for sale now and again on Kijiji or Ebay - often under antique or vintage labels- anywhere from $50 to $150.

Cheers! Bruce
 
Thanks, there is an antique auction coming up in Miramichi, NB over the holidays by a company called Key Auctions. I'll try to get in touch with them and see if they want to put it in their Auction. Thanks again Perry
 
Perry:
I would think that at almost any decent antique show/sale, you would find such a paddle tagged at about $150 asking price, and possibly negotiated for a bit less. Doubt that you would find one in decent shape being offered at much less than $100, but once in a while you find gems going for $25-$35, although that's rare. So, basically, there are collectors looking for these things,
and I think it's worth $100 anyway.
 
Well, it's finally at auction here in Moncton,NB . It's at the auction site "Key Auctions" item # 26 , this auction finishes tomorrow evening, if you people know anyone that would like a great one, spread the word. Thanks Perry
 
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