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Item Valuation
- Obtain an appraisal for individual objects that are replaceable and insure for replacement value
- Document condition with digital photographs that are date stamped
- Keep a copy of the documentation and the insurance policy in two separate locations
- For high value items such as rare books, works of art, and jewelry, consider insuring at market value and update values yearly
- Understand the insurance policy, e.g., procedures for filing a claim, what kinds of losses and expenses are covered, etc. Note: insurance policies distinguish water damage by origin of the water and therefore may not cover all water damages. Damage from floods is often not covered.
Collections Valuation
Determining the value of library collections for insurance can be a formidable task. The following information focuses on the challenge of providing a valuation for large, general collections.
Individual pricing for large general collections is not practical. Instead, group items into categories and calculate an average value for each category. Generally, the better categorized the collection, the more accurate the values.
Categorizing by subject is one way to determine the value of a general collection. Many book jobbers can provide average cost by subject and, in some cases, such values are provided free on Web sites and can help establish a replacement value for items. To arrive at an accurate estimate of value, however, the source figure must be used in conjunction with the number of volumes by subject and format in each library location.
Below are Microsoft Excel spreadsheets listing valuations by call number area (Library of Congress and Dewey Decimal).
To view the Excel files without Microsoft Excel software, see How to obtain the latest Microsoft Excel Viewer .
Dewey Decimal Classification
- 2017-2018 Valuation (MS Excel)
- 2015-2016 Valuation (MS Excel)
- 2013-2014 Valuation (MS Excel)
- 2012-2013 Valuation (MS Excel)
- 2010-2011 Valuation (MS Excel)
- 2008-2009 Valuation (MS Excel)
- 2005-2006 Valuation (MS Excel)
- 2003-2004 Valuation (MS Excel)
Libary of Congress Classification
- 2017-2018 Valuation (MS Excel)
- 2015-2016 Valuation (MS Excel)
- 2013-2014 Valuation (MS Excel)
- 2012-2013 Valuation (MS Excel)
- 2010-2011 Valuation (MS Excel)
- 2008-2009 Valuation (MS Excel)
- 2005-2006 Valuation (MS Excel)
- 2003-2004 Valuation (MS Excel)
Prices by subject are taken from data obtained from GOBI Library Services, New Title Reports - Publishers profiled in the U.S.