Appraisal information detail?

[47 North]

Hi all-

I have two vintage Rolexes that I need to have appraised to update my insurance. The last appraisal I had done for my 1978 GMT simply stated that it was a stainless steel Rolex GMT-Master with a black dial, red/blue bezel insert, and Oyster bracelet and provided a replacement value that was the list price of a new GMT Master II.

I now have an inherited 1967 meters first 5513 for which I need to establish an insurance value. Does anyone have any experience in having a watchmaker for dealer provide a more detailed estimate of its value based upon degree of originality, condition, etc. - the features that make the watch collectable; rather than simply the cost of a similar model if purchased new?

Thanks for your suggestions!

[Tools]

You would need to ask your insurance company who they would accept as an authentic market-value appraisal, rather than the typical replacement-value of most insurance policies.

They might not accept a non-accredited appraisal if it is higher than replacement MSRP, which is an industry standard.