Insurance Versus Actual Cash Value
Often clients have an unrealistic expectation of the value of their used fur garment. This is usually due to a mistaken idea of what an insurance appraisal tells them. 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.
If you are wanting to sell your used fur coat, what you need to be interested in is the actual cash value of the garment; this is usually significantly less than the insurance appraised value. Any item is only truly “worth” what someone is willing
to pay for it. 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.