Declared Value and Insurance

Authorized shippers are covered by liability insurance in transit from the auction house to the store and while packing your items. Once the carrier driver picks up the package it is the responsibility of UPS, DHL, Fedex or other carrier for loss or damage.

What happens if my shipment is lost?

From time to time all carriers loose packages. If a package is declared “lost” after an investigation period, a claim is filed and the customer receives a check for the full amount of the declared value. Depending on the carrier, they may reimburse the shipping fee as well. If there is no declared value, the reimbursement defaults to the limits of the carrier. UPS for instance includes $100 of declared value with each shipment. Freight carriers go by the pound. It is up to the recipient to prove value. Usually an auction receipt will suffice.

What happens if my shipment is damaged?

All carriers, no matter how well packed an item may be, experience damage. This may occur from water, falling from conveyors or crushing. If an item is damaged here are the steps that are taken:

  • The receiver reports the damage to the shipper immediately after delivery, not the auction house. Each carrier’s process is different. The shipper
  • All packaging must be kept until the claims process is final. Images of the damage will be required.
  • All carriers require proof of value, usually the auction receipt is used or an independant appraisal.
  • The carrier or insurance company will also require a repair estimate or statement that the item is not repairable from the recipient. They will look to pay for repair first. The repair estimate must be on letterhead from an established company.
  • Repairs should not be made until the claim is finalized.
  • Recommendation: Given the fragile nature, age and value of most collectibles, every auction house and shipper recommends declaring the total value and insuring your items.