I was wondering the definition of the word "appraised" in insurance terms. I once asked my State Farm agent about a insurance policy for gun stuff. He told me all items would have to be "appraised". But, he couldn't tell me by who. Is it research on GB that's dated to give you the current value of a rifle or pistol. I don't buy in the least that every gun shop owner is qualified. Most the time they have a guess or a personal opinion. Anyway, just wondering!
I know a few people that can appraise a gun for value. They are deeply rooted in the industry but it is not just something they will do for free.
My dad bought an old Chevy farm truck that had some upgrades and work done to it. But underneath it was still just an old farm truck.
He got hosed when he bought it as he refused to listen to me and thought he was going to flip it and make a killing. Had an actual appraiser look at it. Guy worked for an insurance company. He put a ridiculous worth on it and my dad paid for a ridiculously over priced policy.
He tried for years to sell it and was basically laughed at more than once.
Point being know what you are buying. If you buy in a panic or when the carpet baggers have pushed the market into a bubble you will loose your tail.
I am thinking the OP might be there.
Last edited: