[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]

Insurance values of holdings--summary



Dear Colleagues,

We have forwarded a recommendation to the University Administration to apply
an approximate value on manuscript and archival holdings based on recent
appraisals and the advise of a local appraiser, similar to the formula
currently in use for the library book collections.  We have not yet heard
back on whether this will be acceptable.

Other suggestions include:

We have notebooks of both fair market and replacement prices for many of the
works of art, furniture, etc., along with photos.  There are also lists for
rare books and special collections.  All this is taken care of by our
purchasing department.  They contracted with the proper experts in the area
needed and coordinated the process.  We're currently evaluating some African
art that was listed but not valued in the last check because the art
appraiser didn't know enough to do it; we have located a good appraiser to
finish the job.  You may want to check with your university's purchasing
office or the university lawyer to see who takes care of these things at
your school and go from there.  There are big-time insurance and legal
considerations, and I'd kick it upstairs to higher powers if you could.  You
may want to have a say-so in helping to select the appraisers, but beyond
that I'd let the "proper authorities" at your school take care of it.

****

We assumed that most of the material was irreplaceable and insured it for
the cost to freeze dry it after it was water soaked.  Where we know the
replacement cost for microfilm and boxes and folders, we used that.  The
cost to freeze dry it came from the local firm that handled the surviving
records after a major campus fire.

****

I contacted [appraiser] to get an estimate on how much it would cost the
[City] to do basic restoration of our vital records, government
books, journals, etc. in the event of a flood (the archives is in the
basement).  They sent a represent to do a walkaround of 5 small rooms with
approximately 1500 cubic feet of material.  They supplied a ballpark figure
- $211,000.  I wanted to shock people and it worked.

****

One helpful person suggested I determine the value of a single
shelf of books, and then multiply that over the collection. If you're trying
to figure out replacement costs for a very large collection on many
different subjects, you may want to sample shelves in the various
subjects/special collections.

****

One more thing--photographs or photocopies of especially valuable items are
wonderful because it gives you a positive identification.  For example,
right now we're trying to sort out some old values assigned to some African
artifacts from the most vague descriptions of the artifacts.  A single
description could match 5 or 6 items, so having the photo would have saved
us a ton of time and trouble.  Also make sure you have something that looks
like a university tracking number on artifacts, especially.  None of this
African stuff has a number or even a "Property of..." label or tag, making
it harder to match it with a description, etc.  Good luck!

****

Thanks to all who offered suggestions and advice.


Betsy Pittman
University Archivist
Curator for Politics,
 Public Affairs and CT History
Archives and Special Collections
Thomas J. Dodd Research Center
University of Connecticut
405 Babbidge Road Unit 1205
Storrs, CT 06269-1205

Voice (860) 486-4507
FAX (860) 486-4521
Betsy.Pittman@uconn.edu

A posting from the Archives & Archivists LISTSERV List!

To subscribe or unsubscribe, send e-mail to listserv@listserv.muohio.edu
      In body of message:  SUB ARCHIVES firstname lastname
                    *or*:  UNSUB ARCHIVES
To post a message, send e-mail to archives@listserv.muohio.edu

Or to do *anything* (and enjoy doing it!), use the web interface at
     http://listserv.muohio.edu/archives/archives.html

Problems?  Send e-mail to Robert F Schmidt <rschmidt@lib.muohio.edu>