Insurance for DIY

[seangoesbonk]

I have built a few amps which would sell for a lot more than they cost me to make.

My question is: Who should be appraising them for insurance purposes?

How do you people determine worth? Fair market value? Parts and Labour? How much do you figure your labour is worth?

I have one amp which is a great amp, but looks looks so bad the average person probably wouldn't pay more than $10. Therefore, I think it would be necessary for someone who knows about audio electronics to determine it's worth.

Anyways, I'm sure you guys can offer up some ideas...

 

[swede]

The problem with homebuilt stuff is that there has to be a market to be able to determine a price for a goods.

I believe you can only get a maximum of what your parts cost in case of a fire or something. You can compare it to just any artist piling up a stock of drawings/paintings, which (if they were sold) could be worth millions.

If someone had bought an amp from you, it would have been different. Then, all by a sudden, the piece has a market value.

What you do as a hobby is usually valued $0 per hour.

Advice... Sell one of your amps to a friend and buy it back. Make sure you get a reciept. That might do, depending on the laws concerning fraud in your country.

Best regards,
//magnus