Why value your collection

Do you have an impartial written valuation of your collection? 

There are many good reasons why you should value your collection.

• Valuing your collection will encourage review of how to protect and manage your collection.
• You need to know the value of items to get correct insurance cover and to help set priority for insurance cover.
• Do you really know what is in your collection? The valuation process will provide a stocktaking audit. Valuation is a good incentive to get your collections on a computerised database if you have not already done so.
• Putting a monetary value on your collection enables you to better communicate with financial controllers. You may be obliged to account for your collection to bring it onto the books of your controlling body.
• You may need your collection valued in order to present a credible financial statement to potential funders.
• A current valuation will provide an informative document for your estate should the unthinkable happen, reducing postmortem loss.

Five common excuses not to value

Here are some common reasons people use to justify not valuing there collections. 

• The items in our collection will not be sold, so why value them?
• If items in our collections are never sold, how can their true value be determined?
• Taonga and similar items often have spiritual rather than monetary value.
• We dont have the staff, money, time or expertise.