Hi mark800,
The USPS will ask you for proof of the value of the item. Given that
you bought it at an auction, what you paid isn't necessarily the value
(you may pay under or over its true value). The best way to insure
that you will receive the true value for a lost item, is to have the
item assessed *before* shipping by a "reputable dealer" who will issue
a signed statement indicating its worth. For your old coin, presenting
a price guide or catalogue may be sufficient (along with detailed
proof of what it was that you bought). Likewise, for your new watch,
presenting a catalogue may be sufficient. But as always, final
decisions are made at the discretion of the postal employee and it
will be up to you to prove beyond a doubt the value of the item.
USPS S010 Indemnity Claims:
2.6Evidence of Value
"[5-1-04] The customer, either the mailer or the addressee, must
submit acceptable evidence to establish the cost or value of the
article at the time it was mailed. (Other evidence may be requested to
help determine an accurate value.) Examples of acceptable evidence
are:
a. Sales receipt, invoice or bill of sale, or statement of value from
a reputable dealer.
b. For items valued up to $100, the customer?s own statement
describing the lost or damaged article and including the date and
place of purchase, the amount paid, and whether the item was new or
used (only if a sales receipt or invoice is not available). If the
article mailed is a hobby, craft, or similar handmade item, the
statement must include the cost of the materials used in making the
item. The statement must describe the article in sufficient detail to
determine whether the value claimed is accurate.
c. Picture from a catalog showing the value of a similar article (only
if a sales receipt, invoice, or statement of value from a reputable
dealer is not available). The date and place of purchase must be
included.
d. Paid repair bills; if the claim is for partial damage, estimates of
repair costs or appraisals from a reputable dealer. Repair costs may
not exceed the original purchase price.
e. Receipt or invoice for the costs incurred to buy a surety bond
required to reissue a lost item.
f. Receipt or invoice of costs incurred for the reconstruction of
nonnegotiable documents.
g. A copy of a canceled check, money order receipt, credit card
statement, or other documentation indicating the amount paid. For
Internet purchases, a copy of the front and back of the canceled
check, money order, or a copy of the credit card billing statement is
required.
h. For Internet transactions conducted through a Web-based payment
network that offers payment services through a stored value account,
provide a computer printout of the online transaction identifying the
purchaser and seller, price paid, date of transaction, description of
item purchased, and assurance that the transaction status is
completed. The printout must clearly identify the Web-based payment
network provider through which the Internet transaction was
conducted."
http://pe.usps.gov/text/dmm/s010.htm
USPS: How to File Insurance Claims
http://www.usps.com/insuranceclaims/
eBay forum:
10 Indemnity Claims
2.6 Evidence of Value
"According to these guidelines, however, an End Of Auction notice, or
a copy of the ended auction are not sufficient to establish "Evidence
Of Value", as far as the USPS is concerned. You must be able to prove
the item in question is actually worth the amount of the insurance
claim. If the winning bid for an auction is $200 and the item only has
an actual value of $100, then the USPS claim may be limited to $100.
This does not mean that the item may not be insured for $200, or that
the USPS will not pay the claim for $200. But, if asked for "Evidence
of Value", and all that can be produced is "Evidence of Value" in the
amount of $100, then $100 is all that will be paid.
For the purposes of "Evidence Of Value", when all that is available is
an End Of Auction Notice, or a copy of the closed auction, when
required to submit "Evidence Of Value", you should present the USPS
with proof that a payment in the ending auction amount was actually
paid. In addition to the EOA notice, or auction copy, this will
require: A cancelled check, A Money Order Receipt, OR A
Paypal/Billpoint email AND the copy of the credit card/bank statement
on which the charge appears. This might allow a person filing a claim
to prove to the USPS that monies were actually paid for the amount of
insurance taken. This information would be used by the person filing
the claim, in the hopes that this documentation would be considered
"acceptable evidence to establish the cost of the article", as
described in 2.6 above. There are no guarantees that this will work.
But when faced with no other form of "Evidence Of Value" as listed in
2.6 A thru F above, it becomes the best (and in some cases, the only)
available means to satisfy the USPS requirement of "Evidence Of
Value".
S010 Indemnity Claims
2.11Payable Claim
"Fair market value of stamps and coins of philatelic or numismatic
value, as determined by a recognized stamp or coin dealer or current
coin and stamp collectors newsletters and trade papers."
"Under 2.11.A above, insurance is payable for the value of an item,
not what it sold for on eBay. There is, however, one important
exception to this. The payable claim for coins and stamps is FAIR
MARKET VALUE, under 2.11.G above. This means, when insuring coins or
stamps, insurance may be taken for the full fair market value of the
item, not just how much the coin or stamp sold for. If the coin or
stamp's FMV is $500, and it sold for $350k, it should be insured for
$500, and the payable claim is $500.
http://forums.ebay.com/db1/thread.jspa?threadID=34074&tstart=0&mod=1111004874432
I hope this helps. If you have any questions, please post a
clarification request *before* closing/rating my answer and I'll be
happy to reply.
Thank you,
hummer
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