Robbers take $6 million in jewelry and coins from Dallas-area store

[BlackICE]

Sadly, I suspect we will see similar events in the future. I sign of the times! :ack


http://www.dallasnews.com/sharedcon...ryheist_30met.ART.State.Edition1.4be23e1.html

 

[dbackg]

sign of times?

6 million. peanuts.

this happens all the time.

65 Million U.K. Jewelry Heist
http://blog.brickhousesecurity.com/2009/08/22/graff-robbery-armed/

movie. the heist. 2001
http://www.youtube.com/watch?v=McQT-XH3wGA&feature=related

this post will go on forever.

 

[S592R]

6 million estimate .. which means actually only worth about 1.5 m .. fenced the robbers probably net 250k.

I wonder what the insurance claim is going to be for?

Just rambling thoughts....

I have become highly skeptical regarding loss claims lately due to the constant bailouts, toxic assets, etc etc etc etc. What is true value anymore?

True value to me is a great day with my son enjoying whatever we are doing at that moment. A short drive in the GT on a sunny day and of course spending time with my friends. Past that .. its all speculative and viewed skeptically.

 

[Nardo GT]

6 million estimate .. which means actually only worth about 1.5 m .. fenced the robbers probably net 250k.

I wonder what the insurance claim is going to be for?

Just rambling thoughts....

I have become highly skeptical regarding loss claims lately due to the constant bailouts, toxic assets, etc etc etc etc. What is true value anymore?

True value to me is a great day with my son enjoying whatever we are doing at that moment. A short drive in the GT on a sunny day and of course spending time with my friends. Past that .. its all speculative and viewed skeptically.

Wow, was thinking the same ting. You and I think way too much alike. A jewelertold me one time to divide by six for cost or actual value. $6000 wedding ring....worth a grand. Less on the fenced, pawn or black market. insurance companies need to review each claim heavily.

 

[Empty Pockets]

A jewelertold me one time to divide by six for cost or actual value. $6000 wedding ring....worth a grand. Less on the fenced, pawn or black market.

As long as that math is not applicable when my ins co pays out an actual, honest LOSS - I can live with that! :biggrin (After all, the co. has no pblm charging PREMIUMS based on "appraised value". 'Same darn value had better apply when the shoe's on the other foot! :lol)



(Ya. I know it's based on "replacement" value...unless otherwise arranged...which I've needed to do on a couple of "one off" pieces. :frown)

 

[Gulf GT]

Wow, was thinking the same ting. You and I think way too much alike. A jewelertold me one time to divide by six for cost or actual value. $6000 wedding ring....worth a grand. Less on the fenced, pawn or black market. insurance companies need to review each claim heavily.

It depends on where you buy it. If you buy it from Costco, Blue Nile, or some other discounter that gives you a "legitimate" discount you can get almost 1/2 of what you paid. If you buy it in a mall store, in some cases you could get 1/10 of what you paid. It's all over the map. The main point being that jewelry is not an "investment"; it's a luxury product with similar markups to any other type of product sold to consumers.

Insurance companies also differ greatly. Some, like AAA just pay the claimed amount in a check to the insured most often. USAA has a fantastic claims department based in San Antonio, and will actually replace the item with an exact like item. Others like State Farm, Allstate, or Farmers will have the appraisal inspected after a loss to determine if it is over valued and pay accordingly.

 

[Empty Pockets]

Others like State Farm, Allstate, or Farmers will have the appraisal inspected after a loss to determine if it is over valued and pay accordingly.

Aaaaaaaaaah, but, if 'tis determined that the appraisal was TOO HIGH, and therefore the payout was accordingly less - WILL THE INS CO REFUND THE EXCESS IN PREMIUMS THE POLICY HOLDER HAS PAID TO DATE as well?! :rofl :rofl :rofl

 

[S592R]

Wow, was thinking the same ting. You and I think way too much alike.

The world should be very scared ... very very scared. :lol

 

[BlackICE]

The lost out the door on jewelry purchases makes buying cars look like a bargain in comparison.

Does that mean men are smarter financially than women?

 

[Nardo GT]

The lost out the door on jewelry purchases makes buying cars look like a bargain in comparison.

Does that mean men are smarter financially than women?

Let me answer that one. Yes and no. Depends on the man and the woman. Most women are more "into" jewelry, fashion and trinkets which have little or no resale value. Most men tend to be more into cars, boats, land, guns etc which have substantial resale value.

I have this thing about it's not how much you spend or pay for something but what do you get in return. $400 for a new Taurus Judge pistol isn't bad. $400 for a Chanel purse or sunglasses......umm not so much. I'm pretty big into ROI. Yeh, yeh......enjoy yourself....but at what price? What I prefer is quality at a really, really good price. Can't feel good about "enjoying" if I way overpaid or just simply don't feel I had/got my money's worth. Kinda got a problem with $100 dinners too........I'm still hungry 3hrs later.
So far this theory has worked pretty well for me.....so if it ain't broke don't fix it.

 

[MG 42]

Posted in the comments section:

The store owner should have installed some "no guns" signs. That would have prevented this whole situation.

:rofl:rofl:rofl

 

[Empty Pockets]

Depends on the man and the woman. Most women are more "into" jewelry, fashion and trinkets which have little or no resale value.

'Wifey isn't into any of that. And that goes for the bigger "flashy" stuff as well. She just isn't "comfortable" with it, I guess. Her tastes are quite conservative (you wouldn't believe what she's "put her foot down on" in the cars & 'rocks' depts).

Soooooooooooooooo, Pockets is left with no choice but to do what he can to take up the slack in those areas on his own...if/when "want", "means" and "opportunity" all collide!




(...and right now there's a certain car in Kansas...)

 

[Gulf GT]

Aaaaaaaaaah, but, if 'tis determined that the appraisal was TOO HIGH, and therefore the payout was accordingly less - WILL THE INS CO REFUND THE EXCESS IN PREMIUMS THE POLICY HOLDER HAS PAID TO DATE as well?! :rofl :rofl :rofl

Nope. The client supplied the appraisal, not the insurance company. The jewelry industry is at fault for this and not the insurance company. Jewelry appraisers often over value items for a host of reasons; convince the client they got a "good deal" (when they really didn't), get the client out of the appraisers office quickly without any hassles (if the client gets a high appraisal they rarely take more of the appraiser's time so the appraiser makes more money), and often some stores appraise high to simply make the client like them or to justify their inflated prices on jewelry. You can go to three different jewelry appraisers and get 3 different values; $5000, 10000, 15000. It's that bad. Another problem is that many jewelry appraisers either aren't really qualified to do the job or are simple incompetent. With these factors at play, the insurance company has to evaluate each jewelry claim very carefully, and the gigantic variance in appraisals is clearly not their fault.

 

[BlackICE]

The value of jewelry is what someone is willing to pay you for it in a reasonably timely sale. That means wholesafe prices.

Appraisals are BS!

 

[Empty Pockets]

Nope. The client supplied the appraisal, not the insurance company.

...I take it you didn't notice the, ":rofl:rofl:rofl"? :lol :cheers


I actually changed insurance companies over my old company's DEMAND that I take our Rolexes to a certain Rolex dealer in Seattle to have 'em appraised (this was when gold 1st topped $1K an ounce, so I wanted EVERYTHING reappraised accordingly). I wasn't about to make TWO round trips to Seattle to get that done (one to deliver 'em, one to pick both them AND the appraisals up) just for these watches alone(!), and I told our agent so. Either the agent didn't press the issue hard enough, or the company wouldn't BUDGE - or BOTH - but, I was told that was the way it was gunna BE. Well, HORSE FEATHERS! All that was needed, in essence, was to raise the coverage to reflect the new retail prices, and "Bob's your uncle". My "local" Rolex dealer could have done that. But, noooooo...

That cost 'em our business on our houses, cars, jewelry, and umbrella policies. And we'd been with 'em for, what, 30 years? AND WHY? As you just pointed out, all the company would have needed to do would be to pay out whatever they FELT LIKE paying out anyway in the event of a loss - so, what the heck WAS their problem??? 'S-t-u-p-i-d...

 

[BlackICE]

I wasn't about to make TWO round trips to Seattle to get that done...

Not surpising to anyone that knows your driving habits. :lol

 

[Empty Pockets]

Not surpising to anyone that knows your driving habits. :lol

Shuddup, Clinton!

 

[BlackICE]

Shuddup, Clinton!

I bet the real reason you canceled your policies with them, is that they had you either way. Your cars policies were written with a very low mileage limitation. If you didn't get the appraisal your coverage for the watches would be denied. If you drove to get them appraised, your cars would exceed the mileage limitation and your auto rates would rise. :rofl