One person’s junk is another’s treasure, or so the phrase goes. But if you were lucky enough to be given a box of ‘trinkets’ from an elderly relative, quite often the box just gets stored in the loft with little knowledge of any financial value. But what if those ‘trinkets’ hidden beneath the bubble wrap were actually worth a small fortune? Well it certainly isn't beyond the realms of possibility!
Only recently, the son of late playwright, Christopher Fry, discovered a dusty box filled with drawings thought to contain two previously unpublished works by 19th Century artist, John Constable.
Once presented to a Constable expert, these sketches were described as an exciting find, originating from Constable’s later years. The drawings were believed to have been purchased at just a few pounds each but should draw in between £5,000 and £8,000 each at auction.
Going for gold
In 2001, the owner of a Gold Leica 2 Luxus Camera decided to have the item valued. He claimed he had owned it for the past 45 years and didn’t consider it to be anything unusual. As it transpired, the camera was one of only 4 ever made, and was incredibly collectable. When it went up for auction two years later, it fetched a huge £320,000.
Descended from the Qing dynasty
Two siblings in London came across a Chinese vase when clearing out their deceased parent’s home and decided to get it valued. The pair were shocked to find out that the vase was thought to be from 1740 during the Qing dynasty and was worth millions of pounds. The vase went on to sell at auction for a mind-blowing $85 million.
Raring for retro
It’s not just antiques that fetch the big money, either. There are a number of sought-after, rare and valuable video games which could be sat in many lofts across the UK. Games such as ‘Super Mario RPG’, ‘Mega Man X3’ and ‘Harvest Moon’, have been known to sell for hundreds of pounds at auctions, with rare gaming markets and conventions becoming increasingly popular in the mainstream.
That’s not all, items such as rare Pokémon cards, Polly Pockets, vintage comics, old band memorabilia and collectable toys in their original packaging can all go for huge sums with the right buyer.
This just goes to show that sometimes it can be impossible to know what treasures your storage could hold. Do you really know the value of what’s tucked away in your home?
Know your home’s true worth
Perhaps not. Sometimes, you may own an item you know has significant worth, but you haven’t had it valued in decades, if at all. If you underestimate the value of your items with your insurance provider, should something happen, you will only be insured for the amount specified, and not for the amount it’s worth in the present day.
Alternatively, if you estimate the value too high, you could be needlessly overpaying for your cover. When conducting your valuation, be thorough and don’t overlook anything. Remember, that dusty old box you’ve dismissed could hold more value than you think.
Once you’ve determined the value of your contents, you can be your home insurance truly covers you for the right amount.
Call our home insurance team on 01243 219333 for a competitive home insurance quote and to find out how much additional cover you might need for your home contents.