If your collectibles were lost, damaged, or stolen, would your homeowners or renters insurance policy pay to repair or replace those collectibles? When asked this question, it’s not uncommon for a collector to respond “Well of course, that’s why I have insurance.” Unfortunately, that’s not always the case.
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I recently stumbled upon an article that raised the question: “Is it ever okay for a museum to sell some of its works for financial reasons?” And the answer? Well, according to the American Alliance of Museums’ Code of Ethics, the answer is a murky yes―as long as the proceeds from the sale “are to be used consistent with the established standards of the museum’s discipline, but in no event shall they be used for anything other than acquisition or direct care of collections.” Institutions deemed to have violated AAM’s Code of Ethics risk losing accreditation. Not only that, but what message do such “sales” send to a museum’s financial donors and potential donors of artifacts, artworks, etc.? Read more
Over the years, we all accumulate objects that are important to us. Some are carefully chosen to enhance an existing collection, while others have been inherited or received as gifts. Whether your possessions hold monetary value, historical significance, or sentimental value, you should maintain thorough records about the objects for several important reasons.
“I don’t need an inventory management system, my notebooks and spreadsheets work just fine. Besides, I don’t trust putting my personal info online.”
I hear those objections from time-to-time when speaking with collectors and dealers about our online collectible inventory management system, RelicRecord. And here’s the thing, I get it. We all find comfort in using the same methods that we’ve always used; and for the most part, we’re resistant to change – I’m no different in that regard. After all, Momma always said “if it ain’t broke, don’t fix it”… right?