For insurance purposes, I try to get a rough market estimate. I have maintained pretty good records of what I paid for things over the decades so I have that data too. Given the relatively modest cost of collection insurance (you can get a collectibles policy in six figures for several hundred dollars a year), I don't sweat it too much as long as the estimate is in the ballpark. If there is ever a loss, we will have to go through an adjustment and/or appraisal process anyway.
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