$ 100K+ Cards Insured thru the Mail ???

[insidethewrapper]

Just curious, I will never own a $ 100K + card, but how is a card valued in this price range delivered to the winning bidders ? USPS,UPS, FEDEX etc. ? Is it insured for the full amount ?

[CuriousGeorge]

Ask Josh at Lelands

[mechanicalman]

It will likely be overnighted via FedEx or USPS to comply with the umbrella insurance policy which covers the risk.

[buymycards]

USPS overnight mail can only be insured for $5000. I would want the item to be mailed as Registered Mail, which can cover the full $100k if you pay the fees. Registered Mail is slower, but it is reliable. Many jewelers use Registered Mail to ship large amounts of jewelry and the Postal Service uses Registered Mail to send in their nightly cash deposits.

[bnorth]

USPS overnight mail can only be insured for $5000. I would want the item to be mailed as Registered Mail, which can cover the full $100k if you pay the fees. Registered Mail is slower, but it is reliable. Many jewelers use Registered Mail to ship large amounts of jewelry and the Postal Service uses Registered Mail to send in their nightly cash deposits.

I have used registered mail. It always gets there but it could be 3 days or 3 weeks.

[Goudey77]

did you say UPS? brutal....:D

[swarmee]

Is FEDEX the one that caps insurance payouts for collectibles at only $1,000 no matter how much you actually pay?

[Bicem]

It will likely be overnighted via FedEx or USPS to comply with the umbrella insurance policy which covers the risk.

This.

AH's private insurance policy covers, they just need to ship via however the policy requires for safety/tracking reasons. No insurance needed through the actual shipper, so their limits are a moot point.

[Aquarian Sports Cards]

Is FEDEX the one that caps insurance payouts for collectibles at only $1,000 no matter how much you actually pay?

FED EX and UPS on collectibles

[Aquarian Sports Cards]

I am assuming shipping items that expensive they are privately insured.

[LincolnVT]

USPS priority mail registered and insured for the dollar amount that the card is worth. This requires each employee that touches the package to sign for it and secure it between transfer stations / postal offices. Takes a bit longer, but you can also track each movement. The person on the recieving end needs to sign for the package. If the buyer isn't home when the package arrives, USPS holds the item in a safe at the post office until it is picked up.

[wdwfan]

If I sold something for $100k, I'd just buy a plane ticket and go meet the buyer face to face. I'd just buck and pay the $400-$500 for the flight, couple of hundred dollars for the hotel, etc. That way payment can be made there.

[Bicem]

USPS priority mail registered and insured for the dollar amount that the card is worth. This requires each employee that touches the package to sign for it and secure it between transfer stations / postal offices. Takes a bit longer, but you can also track each movement.

They limit the insurance coverage on Registered to 50k.

[LincolnVT]

They limit the insurance coverage on Registered to 50k.

Hmmm? I've used insured / registered with USPS for much more than 50k.

[Bicem]

Hmmm? I've used insured / registered with USPS for much more than 50k.

Odd since the limits are 100% $50k. Maybe they sold you the additional but no chance you could actually collect more than $50k.

[Leon]

This.

AH's private insurance policy covers, they just need to ship via however the policy requires for safety/tracking reasons. No insurance needed through the actual shipper, so their limits are a moot point.

This is true. Insurance carriers (such as Collectibles Insurance) require certain methods of delivery to conform to their policy.
I have shipped a 6 figure card or two. I think I just did USPS overnight and crossed my fingers. It did work out. The safest way, as mentioned, is USPS Registered mail. I have received a 6 figure card that way. Except for it taking 8-9 days it was fine. Another time or two I have delivered high priced cards out of state, myself.

[BeanTown]

Only exception to AHs are Huggins and Scott. They do all their customers a favor and charge them actual cost of the UPS/FedEx insured declared value of the item won.

[JackW]

Only exception to AHs are Huggins and Scott. They do all their customers a favor and charge them actual cost of the UPS/FedEx insured declared value of the item won.

You either don't bid with many auctions houses or you don't look at your invoices.

[Jasonxmay]

Update: I just checked the USPS website and you are correct about the $50k cap. I’m not sure if that policy is a recent change, but somehow I purchased 5 times that much insurance a couple months ago.

The cap was $25k up until about a year ago, but that cap has been lifted. There is now no limit to how much insurance you can add to registered mail packages. I insured a package for $250k a couple months ago.

Jason

Odd since the limits are 100% $50k. Maybe they sold you the additional but no chance you could actually collect more than $50k.

[LincolnVT]

+1

Update: I just checked the USPS website and you are correct about the $50k cap. I’m not sure if that policy is a recent change, but somehow I purchased 5 times that much insurance a couple months ago.

The cap was $25k up until about a year ago, but that cap has been lifted. There is now no limit to how much insurance you can add to registered mail packages. I insured a package for $250k a couple months ago.

Jason

[Leon]

+1

It was a 25k cap for a long time. A 50k one is better but I bet that is expensive to buy!!
And I would be interested to know much 250k of insurance by USPS would cost too?

[Bicem]

The 50k cap has been in place for awhile, at least over a year. If you were able to purchase insurance over that amount my guess is that their system doesn't have guardrails in place to prevent the employee from doing so, and that the employee isn't aware of the cap. I mean nothing would surprise me when it comes to the Post Office and incompetency.

[chriskim]

Since almost all states need to pay sales tax now, if u won a high price item, u should book a ticket and pick up the item in person instead. You might even able to save a few bucks if the state u live at has higher tax then where the AH based at.

[highgradelegends]

Just curious, I will never own a $ 100K + card, but how is a card valued in this price range delivered to the winning bidders ? USPS,UPS, FEDEX etc. ? Is it insured for the full amount ?

I sold a 3 x different cards, all in a single lot, totaling $75k value. I paid for a commercial airline ticket (~$300) to the buyer's location, kept the cards on me, and hand delivered them to the buyer (met at a bank). Worked well. Did not have to sweat USPS or any major delivery service SNAFU.

[Oscar_Stanage]

I have private insurance with CIS that covers my shipping risk. the policy specifically states that I need to ship with signature and explicitly states I am not covered with UPS.

why do the auction house's use UPS? I assume they have insurance that does cover UPS shipping? I've had a minor issue with a UPS delivery so I am wondering what happens if I never receive it- I am not covered by CIS, and the auction house sent via UPS.

[toledo_mudhen]

If I sold something for $100k, I'd just buy a plane ticket and go meet the buyer face to face. I'd just buck and pay the $400-$500 for the flight, couple of hundred dollars for the hotel, etc. That way payment can be made there.

Yep - Airplane would be a no brainer

[Leon]

I have private insurance with CIS that covers my shipping risk. the policy specifically states that I need to ship with signature and explicitly states I am not covered with UPS.

why do the auction house's use UPS? I assume they have insurance that does cover UPS shipping? I've had a minor issue with a UPS delivery so I am wondering what happens if I never receive it- I am not covered by CIS, and the auction house sent via UPS.

It is the auction companies insurance that should pay, not yours. I don't care how they ship to me. It's on them.
.

[mechanicalman]

Yep - Airplane would be a no brainer

It’s a brainer if you don’t have the time.

[philliesfan]

If I sold a 100K card, I would drive / fly to wherever to hand deliver it.

[Oscar_Stanage]

It is the auction companies insurance that should pay, not yours. I don't care how they ship to me. It's on them.
.

Thank you Leon. Curios how the auction houses arrive on choosing to ship with UPS when the industry leader explicitly will not cover UPS shipping !

They ship a hell of a lot more value than I ever will

[t206kid]

USPS overnight mail is better than registered bc you minimize the time USPS has control over the item. For this amount you MUST have private insurance (which will typically favor overnight over registered for this reason). If people are suggesting paying for 100k insurance with registered mail this is a guaranteed -ev play.