I tried to insure my collection of Burgundy. I have 10 bottles worth $5,000 each. My agent said, “We need an appraisal.” I called an appraiser. He wanted $150 per hour. I did the math: It would cost me $2,000 to appraise $50,000 of wine. Is this a scam?
Key Takeaways
- Blanket vs. Scheduled: You usually only need an appraisal for “Scheduled” items (listed individually). If you use “Blanket” coverage (e.g., “$100,000 for wine”), you don’t need an upfront appraisal, but you will need proof of value at the time of loss.
- The Threshold: Most carriers have a “per item” threshold for appraisals. In 2026, it is commonly $10,000 or $50,000. You rarely need a formal appraisal for a $500 bottle.
- Digital Receipts Work: A purchase receipt from a reputable merchant is as good as an appraisal if it is less than 3 years old.
- “Bill of Sale” vs. “Replacement Value”: If you bought a bottle for $500 and it’s now worth $5,000, your receipt is useless. That is when you need an appraisal (or a reliable database printout) to lock in the higher value.
The “Why” (The Trap)
The trap is “Proof of Value” timing.
If you don’t appraise it now, you have to fight about the value after the fire.
- With Appraisal: “It says $5,000 here. Send the check.”
- Without Appraisal: “We found this bottle on eBay for $2,000. Here is $2,000.”
The Investigation (Carrier Rules)
I asked carriers what their “Appraisal Threshold” is for 2026.
- Chubb: Generally requires appraisal for single items >$50,000. Below that, a detailed description/inventory is usually sufficient.
- Cincinnati: Requires appraisal for items >$10,000 to get “Agreed Value.”
- AIG: Flexible. Will often accept a “Statement of Value” from the client (you) for items under $25,000, backed by CellarTracker data.
Comparison Table
| Documentation Type | Cost | Acceptance Level | Best For |
| USPAP Formal Appraisal | High ($150/hr) | 100% Guaranteed | Bottles >$10k |
| Purchase Receipt (<3 yrs) | Free | High | Recent Releases |
| CellarTracker Screenshot | Free | Medium (Negotiable) | Bottles <$2k |
| Auction History Printout | Free | High | Vintage/Rare items |
Step-by-Step Action Plan
- Sort Your List: Identify any single bottle worth over $5,000. Focus your energy there.
- Use “Desktop Appraisals”: Services like WineOwners or specialized auction house teams can do “Desktop Valuations” (remote) for much cheaper than a site visit.
- [IMAGE: Screenshot of a digital valuation report listing bottle values]
- Submit “Invoices” for Recent Buys: If you just bought it, send the invoice. That establishes “Cost.”
- Ask Your Agent: “What is the specific dollar threshold requiring a USPAP appraisal on this policy?” Get the number.
FAQ
Can I appraise it myself?
No. You are biased. It must be a disinterested third party.
Does an appraisal expire?
Yes. Most insurers want updates every 3-5 years. If you don’t update, you are stuck with the old (lower) value.