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 Post subject: Insurance and Inheritance
PostPosted: Sat Apr 05, 2008 11:19 am 
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Location: Leicester. United Kingdom.
Seeing the wonderful collections people have and the 'value' of these, I wondered what folks do to 'insure' their collections?

Secondly, my son was joking to one of his friends when they were looking at my puzzles that they are his 'inheritance'. This set me thinking, if I was knocked down by a bus tomorrow my knowledge of the puzzles, their names and possible 'value' might be lost with me in that instant......whilst those in my family tolerate my interest they do not share the same desire to twist plastic.....so.....what would they do with them? My wife said jokingly (I hope) "I would take them to a flea market!" Do you record the puzzles' details in such a way that whoever inherits them may make the most of them? Do you mention them in your will? Will you donate them to a fellow twisty fan? Do you care once you have popped your clogs? Just wondered..............

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 Post subject: Re: Insurance and Inheritance
PostPosted: Sat Apr 05, 2008 11:31 am 
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viewtopic.php?f=1&t=3636

It's been discussed before. Well, insurance has. Not inheritance.

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 Post subject: Re: Insurance and Inheritance
PostPosted: Sat Apr 05, 2008 1:53 pm 
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Richard wrote:
Do you record the puzzles' details in such a way that whoever inherits them may make the most of them? Do you mention them in your will? Will you donate them to a fellow twisty fan? Do you care once you have popped your clogs?


:shock: I can't let my family know how much some of my puzzles are worth!
a) I will get divorse papers immediately;
b) The impact of that saucepan will send me to pop my cloggs...

I did ask my family to sell puzzles on a particualr shelf on ebay one by one. Hopefully that way they will get the value they had not a clue about!

Not sure if I can ever tell them though!...
Vadim


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 Post subject: Re: Insurance and Inheritance
PostPosted: Sat Apr 05, 2008 5:43 pm 
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Location: Cincinnati, Ohio, U.S.A.
There is no simple way to insure most large puzzle collections since they would have to be appraised but how do you appraise puzzles that are no longer being sold and the custom made ones? You may just have to add some generic loss coverage. I keep 2 fire extinguishers next to my collection.

Next to my collection I keep a list of people that may be able to help my wife value the puzzles in case something happens to me. I gave her multiple names from this Forum and others that I trust. I told her not to sell anything before she consults with them. Although they are not aware of this, I hope that they don’t mind (they may arrange to buy some of the puzzles for themselves).

Ideally, it would be great if she can get the help of someone like Nick Baxter and sell it as a private auction. Other options include selling the collection one piece at a time on eBay and donating part or all of the collection to a Museum or other institution (for a nice Tax break).


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 Post subject: Re: Insurance and Inheritance
PostPosted: Sat Apr 05, 2008 5:56 pm 
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Location: Cincinnati, Ohio, U.S.A.
I recently went back an recorded when I bought some puzzles, from whom and how much I paid. All my Tony Fisher puzzles are together with the pricelist in the same section. I am planning to catalog my puzzles, at a minimum, as cheap(0-$15), low( $15 - $50), medium ($50- $100), high($100 - $300), expensive ($300-$1000) and very expensive (<$1000). Unfortunately, I don't own too many in the last category.


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 Post subject: Re: Insurance and Inheritance
PostPosted: Sat Apr 05, 2008 7:23 pm 
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Is there any way I can be adopted by Georges?


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 Post subject: Re: Insurance and Inheritance
PostPosted: Sat Apr 05, 2008 11:08 pm 
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I never thought of it like this before! I mean, Alot of my puzzles are worth an ok sum of money... and dieing then having them taken to a flea market would make my dead corpse frown.


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 Post subject: Re: Insurance and Inheritance
PostPosted: Sun Apr 06, 2008 3:56 pm 
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Vadim wrote:
I did ask my family to sell puzzles on a particualr shelf on ebay one by one. Hopefully that way they will get the value they had not a clue about!


Just make sure they know what the names are ............. hate to see a hidden gem going for peanuts (unless it's to me!)

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 Post subject: Re: Insurance and Inheritance
PostPosted: Sun Apr 06, 2008 4:01 pm 
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Oscar wrote:
Next to my collection I keep a list of people that may be able to help my wife value the puzzles in case something happens to me.


Lot's of useful suggestions here Oscar, thank you. I think I too need to commit something to paper.

Have any other collectors thought about this.......or chosen not to think about this?

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 Post subject: Re: Insurance and Inheritance
PostPosted: Sun Apr 06, 2008 10:56 pm 
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Luckily my wife has always been interested in my puzzles and the stories about them. So she knows what the valuable ones are and she wants to keep quite a number herself.
My son, a proud owner and solver of cubes up to 6x6x6 (yes he too got one from Mr Verdes) will surely not be throwing away anything.
For all that will be leftover after these two have chosen, I have come to an agreement with a collector friend who will take charge.

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 Post subject: Re: Insurance and Inheritance
PostPosted: Mon Apr 07, 2008 1:13 am 
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Well... my case is a bit different regarding the inheritance part....

I have been extremely enthusiastic the past years, and everytime I make or buy a new puzzle,
I immediately show it to my friends, relatives *and* collegues. More specifically, my neighbour
is trying to convince me to sell them on ebay as soon as possible...! :?

I am pretty sure that *at least* my mum knows exactly what to do (she's been trained very well).

;)


Pantazis

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 Post subject: Re: Insurance and Inheritance
PostPosted: Mon Apr 07, 2008 11:08 am 
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Georges wrote:
For all that will be leftover after these two have chosen, I have come to an agreement with a collector friend who will take charge.


So the rest of your puzzles for my white megaminx? :lol: 8-)

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 Post subject: Re: Insurance and Inheritance
PostPosted: Mon Apr 07, 2008 11:18 am 
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reeeech wrote:
Georges wrote:
For all that will be leftover after these two have chosen, I have come to an agreement with a collector friend who will take charge.


So the rest of your puzzles for my white megaminx? :lol: 8-)


hehehe, nice one 8-)

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 Post subject: Re: Insurance and Inheritance
PostPosted: Mon Apr 07, 2008 1:26 pm 
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I know people that have insured their (non-puzzle) collections using this service: http://www.collectinsure.com/

You probably need to have a fairly sizable collection for it to be worth the premiums, though.


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 Post subject: Re: Insurance and Inheritance
PostPosted: Tue Apr 08, 2008 5:57 pm 
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Joined: Tue Oct 09, 2001 6:14 am
Location: Orange County, CA, USA
Keep a sealed envelope next to your puzzles, something to be opened upon your unTimely demise.

Leave simple instructions, like "if I die, be honest and ask questions about puzzle value on http://www.twistypuzzles.com. Let's face it, the value of a puzzle can come and go, much like the original Dogic.

That way your peers can take a moment of silence for a fallen comrade. I'll even pour out a 40 for you. At the very least maybe dedicate a scramble and a solve.

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 Post subject: Re: Insurance and Inheritance
PostPosted: Wed Apr 09, 2008 11:58 am 
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I agree with Jin. All relatives need do is be directed here. I am sure people will be willing to help dispose of the puzzles in an honest way. Nick Baxter's recent auctions were of cause the result of John Ergotoudis death. As for me, I want to be buried with mine but I'm not telling you where.

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 Post subject: Re: Insurance and Inheritance
PostPosted: Wed Apr 09, 2008 12:04 pm 
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Tony Fisher wrote:
As for me, I want to be buried with mine but I'm not telling you where.


I'm going to take courses in archaeology...

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 Post subject: Re: Insurance and Inheritance
PostPosted: Wed Apr 09, 2008 1:25 pm 
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Tony Fisher wrote:
As for me, I want to be buried with mine but I'm not telling you where.


I'll be sure to somehow plant a tracking device on you when you least expect, and that can't be removed.

Seriously though, all this got me to thinking about what to do if something were to happen to me. I guess when I finally do have kids, if they show interest in my collection, it's theirs, if not, then I would consider donating the collection. It's just a matter of where. Ideally some place that would allow many others the opportunities to play with the puzzles. Since most of mine aren't extremely rare, it would be a shame to have them all trapped inside a glass box. Most of mine are actually non twisty puzzles anyway.

-d


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 Post subject: Re: Insurance and Inheritance
PostPosted: Wed Apr 09, 2008 2:36 pm 
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Tony Fisher wrote:
I agree with Jin. All relatives need do is be directed here. I am sure people will be willing to help dispose of the puzzles in an honest way. Nick Baxter's recent auctions were of cause the result of John Ergotoudis death. As for me, I want to be buried with mine but I'm not telling you where.


Directing them here makes a lot of sense...........it really says a lot about this wonderful twisty community that we can say that!

As for Tony's wish....maybe something like this could be your last puzzle http://en.wikipedia.org/wiki/Masquerade_%28book%29 :lol:

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 Post subject: Re: Insurance and Inheritance
PostPosted: Wed Apr 09, 2008 2:49 pm 
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Tony's coffin should be a Japanese Puzzle box!!!

With a very distinct 100+ move solution to get apart! ;)
You're puzzles will be safe. :lol:

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 Post subject: Re: Insurance and Inheritance
PostPosted: Wed Apr 09, 2008 4:39 pm 
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I can see some heavy caskets in the future, and also some grave robbing.


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 Post subject: Re: Insurance and Inheritance
PostPosted: Thu Apr 10, 2008 3:03 am 
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As for me, I'll be sure most of my good stuff goes to good homes.

Although the idea of hiding all of the puzzles in various locations as a giant easter egg hunt of sorts does appeal to me...

Maybe I'll leave my puzzles "under the big... W..."

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 Post subject: Re: Insurance and Inheritance
PostPosted: Thu Apr 10, 2008 3:31 am 
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That's an interesting idea. You could make clues that will lead people to the treasure.


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 Post subject: Re: Insurance and Inheritance
PostPosted: Sat Apr 12, 2008 8:26 am 
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Ha ha, if I die my puzzles go to Pembo. There, you guys are my witnesses, my problem is solved :)

I guess the fact that I don't own anything particularly nice, other than a meffert's minx, would take down the price of my collection. It's not worth the trouble to insure all that stuff, lol.

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 Post subject: Re: Insurance and Inheritance
PostPosted: Sat Apr 12, 2008 8:28 am 
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Speedy McFastfast wrote:
Ha ha, if I die my puzzles go to Pembo.


What about me! I'm just kidding :D

I say you all just give me your puzzles now, then I won't have to wait. 8-)


I would give them to my brother, because he's a cuber too.

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3x3x3 . . . PB: 11.32 Avg: 17.33
4x4x4 . . . PB: 1:11.32 Avg: 1:27
5x5x5 . . . PB: 2:26.47 Avg: 2:36.04
Pyraminx . PB: 4.18 Avg: 8.43


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 Post subject: Re: Insurance and Inheritance
PostPosted: Sat Apr 12, 2008 5:32 pm 
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I will bury myself with my puzzles and hope the Egyptians were partially right!

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 Post subject: Re: Insurance and Inheritance
PostPosted: Sat Apr 12, 2008 8:16 pm 
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hahaha trying to take them with you? Maybe you should get buried in a tomb lying in the center of a giant pyraminx...with secret compartments and traps and mazes!


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