Loaning to a Museum

[71buc]

Thanks for all of the advice and information regarding the museum. When I told my wife about the museum’s request she said, “What kind of museum would want to display your toys”?

[Scott Garner]

Being able to share part of your great collection is a cool thing to do.
IMHO it's more fun to be able to share some of the museum quality pieces to other people than simply keep it in your Pirates Shrine.
BTW, David Cycleback's comment is correct. If you ever choose to sell anything down the road, this can add interest to the item's provenance.

[doug.goodman]

The Clemente Museum is a must see when in Pittsburgh.

They have a baseball from his 3rd career HR and after seeing it I loaned them a scored program from that game.

And I picked a good day to visit, as this picture shows.

Doug

[71buc]

Wow that must have been quite the experience

[ValKehl]

Mike, if the items you are lending to the museum for its exhibit have substantial value, the museum may not have the resources to pay you should there be a substantial loss. Hence the need for insurance coverage, as already mentioned in this thread. If I were in your shoes, I would request a certificate of insurance from the ins. carrier, and I would probably ask to be added as an additional named insured on the ins. policy. I would also want something in writing that states the perils covered and the perils excluded by the ins. policy. I am not an insurance expert, but I believe that even so-called "all risk" policies often exclude certain perils, such as flood and/or earthquake. If you do not feel comfortable with the coverage afforded by the museum's policy, you might look into obtaining your own ins. coverage, to be paid for by the museum.

[71buc]

Thanks everyone for all the advice. This is exactly why I posted this thread. You all have been very helpful. I don’t know that anything is of substantial value. However there are things that I don’t know that I could ever replace due scarcity. In my narrow niche rarity doesn’t always equate to desirability or monetary value.

[swabie2424]

I have never loaned any part of my card collection. Although I actually may be doing so with some of my college football collection this summer/fall to a major university.

However I have a rare statue collection and I have loaned pieces in the past for public display. Others here have already given excellent advice about paperwork/contracts/agreements.

In terms of insurance I always have my own. I don’t solely rely on the museum or institution nor do I ask them to pay for my insurance. Since my items are already covered at my cost it’s nothing additional to have them covered as part of the loan. I notify my collectible insurance provider ahead of time, provide them the agreement of loan and they actually update my policy to continue coverage of the items in the new location. They ask for basic info about security etc. They also provide coverage for transit of the items in case something was lost/broken on the way to/from. Just a tip to always make sure your insurer knows your items are loaned.

[roarfrom34]

I've loaned numerous items to the Babe Ruth/Sports Legends Museum in Baltimore over the years and have never had an issue...They provided me with a written loan agreement as well as a copy of their insurance policy.

[doug.goodman]

Originally Posted by 71buc

Wow that must have been quite the experience

It was great, all three sons were there, too.

[whiteymet]

I loaned a few items from my Richie Ashburn collection to the HOF for Ashburn's 1995 Induction display. See photo of me standing in front of it below.

My father and I traveled up to Cooperstown early that summer to take things up to see what they would want to use. It was a great trip to really connect with my father one on one with no other family around. It was all the more memorable as he passed away two short years later.

I was lucky enough to be given a behind the scenes tour by Ted Spencer who was the curator at the time if that was his official title. You should see the stuff they have in the basement!! Probably five times the amount of items as they actually have on display to the public.

As I recall they had contracts to sign with values assigned and terms as to when the items would be returned etc. Photos were also taken for ID and insurance purposes. Being that it was the HOF I had little worries.

Years later I also loaned some items from my collection, a Connie Mack Stadium seat and a few other things to the National Constitution Center in Philadelphia. Believe it or not they had a sports Exhibit at one time. I was also invited to a luncheon there announcing the exhibit that Bill Russell attended. Again, I had no worries as to the safety of my items. They were returned to me along with the signage they produced with info on my items saying among others things from the collection of Fred.....

Being able to share a small part of one's collection for others to see and enjoy is very rewarding.