This watch is why I don’t value watches that don’t work

In the case of this crispy timepiece, the client came to me for a valuation, as their insurance renewal was due. I advised them that I couldn’t do it because it wasn’t working and said that it needed to be fixed and working before I could do the valuation. The client insisted it was just a battery and would only cost a few quid to fix, so what was the issue and why couldn’t I just value it?

As I said to the client, the only way to determine the fault of any watch that isn’t working and the cost of fixing it; is to have it inspected by a brand-accredited workshop. Anything less is pure guesswork.

An accredited workshop subsequently inspected this watch, and this is what they found. To be fair to the client, they weren’t exactly wrong, as the battery was at fault. However, the repair cost was sustainably more than the few quid they had anticipated.

In this instance, the insurer did not end up unwittingly underwriting a watch that didn’t work. And they were able to avoid what could have been a rather expensive repair claim.

To any insurance company, broker or underwriter, if you do not ensure that your clients obtain a sighted and professional insurance valuation on a watch, you are exposing yourself to unnecessary risk.



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