You'll want to take any and all precautions to protect against a loss in your investment. After having your collection appraised from an individual experienced in sports collectibles or third part authenticity company, you'll want to explore options for insuring your collection. If you have just a couple of pieces, your homeowners policy may provide adequate coverage.
However, it is best to talk with your insurance professional before assuming that you are covered. If you have several pieces or a collection, you'll want to purchase separate coverage. This can be in the form of a special "collectibles" policy or a rider on your homeowner's policy. Be sure to do an insurance assessment annually or whenever you make a major purchase. Your insurance should grow with the value and quantity of your collection.
Be sure to keep your receipts and Certificates of Authenticity in a safe place. I recommend making scans and copies for each item and keep them in a safety deposit or fire proof storage box.
As you build your collection, you'll want to take photos and maintain an inventory list. You can registrar as a member of SteenoSports and upload your collection as an off site record. You can add or remove items as your collection changes. This is a free service to our members!
Go to " Collectors Corner" to sign up!
Keep inventory lists that should be neatly organized with each collectible being assigned a number. Lists should also include pertinent information about each item such as product details, original price, date of purchase and estimated value. This list will also need to be updated either annually or as often as you add to your collection. Remember, market values change, so you'll also need to adjust your estimated values periodically.
An easy way to maintain your inventory list is by creating a database and storing it on both your hard drive and a CD and/or join SteenoSports.