Things You Didn’t Know Can Be Salvaged and Sold

November 07, 2017

When people think of salvaged items, the first thing that will come to mind are vehicles. In reality however, there is a wide array of assets that can be salvaged, repaired, and then sold for a good price. From damaged structures to heavy equipment, to items that have been ravaged by hurricanes, or those that have incurred water damage, you will be surprised at how many assets are actually worth salvaging.

Assessing the salvage value
Before an insurance company will decide to proceed with salvaging a damaged item, certain elements need to be present first.

The condition of the item should be checked as it can contribute considerably to its overall value. Some pieces can be considered scrap if there are very noticeable cracks and wear on it. Pieces that are intact and only show little to no signs of wear will usually still command some excellent pricing.

Visual appeal is also another factor that may be considered too. It is easy to confuse items that are just interesting to those that are actually valuable. As always, it is up to expert appraisers to assess whether there is true value in a damaged item or if it does not have any redeeming qualities at all.

Stamps and hallmarks are also checked since they can increase the selling price of a salvaged item. This is especially true with jewellery. Some hallmarks show notable brands or places of origin of the piece which can command a higher price when the item is sold.

Assets that can be salvaged and sold
Jewellery pieces are definitely among the top assets that are easy to salvage and then sold. Many resellers will be able to salvage jewellery by repairing them and reselling the piece. They often come as vintage, estate, or antique items.

Fine art is also very popular in the salvage market. Many of the pieces out there tend to be fragile hence, when they are exposed in less than ideal settings and environment, they might degrade. This will lessen their value. There are insurers that are able to get them restored through the help of experts in the field and the resulting piece is then sold for a good value.

Antique furniture is also very common among the things that are salvaged, repaired, and then sold to buyers too. With many people looking into old pieces for their unique appeal and their classic and timeless aesthetics, it is easy to see why more and more insurers are more than happy to restore damaged antique furniture pieces.

Clothing can also be salvaged. Most of the time, insurance providers will seek the help of textile cleaning services to get the items cleaned up and restored with the use of state-of-the-art techniques. They can then be auctioned off afterwards to help recoup the costs.

If you’re not sure whether a damaged item you own is worth salvaging or not, Ian Whittock at Evoque Claims and Appraisals can assist you. As director of a company that specialises in appraisals and claims, it is more likely that he will say yes to salvaging these assets instead of no. 

To learn more about asset management, claims and appraisals, as well as auction services, check out Ian Whittock here. Visit the official page of Evoque Claims and Appraisals by Ian Whittock here.

You Might Also Like