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Expert: - 9/11/2008


Question
I have a fully functioning old safe. It has two complete sets of keys. As far as I know it is German hand made around 1905. It weighs about 900 pounds and 5ft height. On the siah safe web site they have the exact one re-furbed at $20 000  U.S. Any idea what this one is worth?

Answer
Chris,

You haven't given me any worthwhile info to work from.  I will need photos of the safe to determine any value.  Photos should include full exterior/interior views, and detailed photos of the locks, keys, handles, hinges, castors (wheels) or feet, art work and specific special items of the safe.  Also the name of the Manufacture would be helpful.

One of the things to remember about the safes that Siah's is selling; is that he is marketing to a specific clientel, that probably has more money than they know what do with.  Siah's can also sit on the safes for several years until they have a customer willing to pay their price.  Many of these "snobish" customers will spend extra $$$ just to say look at me and the expensive toys that I have.

Fortunately for the rest of us, these type customers don't drive the market.  Now, by no means does this mean that I don't think that antiques should be worth what ever someone is willing to pay for it, but realisticly, in the real world, the price you will accept depends on interest in the market, the condition of your safe and how long you are willing to hold out for your desired price.  Looking at prices offered by Siah's may give you a desired starting price but you may have to be willing to take something considerably lower depending upon the condition of your safe and your ability to wait.

I had to open and repair an "Austria Safe" similar to one in Siah's collection, two years ago.  The safe had an attempted burglary with a lot of damage.  We repaired it back to original condition, and the owner (who had originally purchased it for $400), assumed that it would be worth the $10,000 to $15,000 that Siah was asking for a similar safe.  Well here it is two years later and the customer still has the safe and he hasn't had one single offer on the safe yet.

If you can document your safe, and assuming it is in excellent condition you may be able to ask and get a large purchase price.  Unless you are interested in selling it for the cash, I would rather see you as one of the elite collectors that would keep it and show it off to friends.

Good luck,

Andy

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Terry V Andreasen (Andy)

Expertise

Safe and Vault related Questions; Antique Safe Repair and Restoration; With over 40 years in the Safe & Vault industry, if I can't answer your question I know where to get the answer. Current Project: Restoration of two Tilton & McFarland Safes from the 1860's. Will answer Safe & Vault related questions concerning age, value, restoration, moving, opening & repairing, parts, operation and history. Note: It is not my intention to teach you to open safes or to provide information which may aid in the unlawful opening of a safe. I will not give out drill points or information which I deem inappropriate.

Experience

40 years in the Safe & Vault Industry. Service Manager for one of the largest Safe & Vault companies on the West Coast. Graduate of Lockmasters Safe Lock Servicing, Safe lock Manipulation and Safe Deposit Lock Courses. Graduate of Locksmith Institute. Certified Instructor for the California Locksmith Association teaching Basic and Advanced Lock Servicing, Basic Safe opening and Repairing. Factory Trained by AMSEC, LORD Safes, LeFebure, Mosler, KabaMas, LaGard and Sargent & Greenleaf

Organizations
Safecrackers International and the National Antique Safe Association

Education/Credentials
Graduate of Locksmith Institute 1972 Graduate Lockmasters Safe Lock Servicing 1974 Graduate Lockmasters Safe Lock Manipulation 1975 Graduate Lockmasters Safe Deposit Lock Servicing 1985 Instructor Certified - California Locksmith Association - 1985 Factory trained by AMSEC, MAJOR, STAR, Johnson-Pacific, Kaba-MAS, Allied-Gary, ISM, Lord, Brown Safe, EXL, Mosler, Diebold.

Awards and Honors
2009, 2010 & 2011 Listed in AllExperts top 50 Experts. All Experts Categories - Safes & Security Containers, Locksmithing, Antique Safes. Retired US Army Reserve Chief Warrant Officer (CW3), with 32 years of total service. With numerous awards from Vietnam, Desert Storm and Operation Iraqi Freedom. US Navy - 1971-1981 US Army Reserve 1984-2006 US Army Retired Reserve 2006-present

Past/Present Clients
US Secret Service, FBI, BATF, Local Law enforcment agencies, Diebold, Hamilton Pacific, Red Hawk Int., Chubb International, Bank of America, Wells Fargo Bank, Mechanics Bank, El Dorado Savings Bank, many Credit unions and smaller banks. McDonalds, Togos, BurgerKing, TacoBell, Carls Jr. FoodMaxx, SaveMart, Lucky's, Albertson's, Raley's, Safeway, NobHill, Bell Markets, PW Markets. Great America, Century Theatres, Cinemark Theatres, UA Cinemas, and many homeowners and small businesses. Provide warranty service for lock and safe manufactures. Service area is Northern California - Fresno to Oregon, including western Nevada

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