Expert: Mike Palmer - 10/7/2009

Question
QUESTION: Sorry I forgot to attach the picture to my previous question.
Thanks,
Martin

ANSWER: Hi Martin

Thanks for the picture.  

It is a very typical and rather smart 12 corner bent safe.  The T handle and the escutcheon (keyhole cover) are fairly indicative of late 20's early 30's and I would expect it to have flat bolt-work.  It has obviously been reconditioned or at least resprayed.  I doubt that it has facilities for bolting it to the floor which is one of the reasons insurers don't usually extend much cover to safes of this age.  However, I would expect them to insure it for £1,000 cash or at least £10,000 valuables in domestic premises.

Regards,

---------- FOLLOW-UP ----------

QUESTION: No it can't be bolted to the floor. We know it's over 100kg because it went off the scales at work. I painted it myself just to tart it up for my home. It's an easy to use water-based paint that my company manufactures, but it gives a lovely traditional satin finish and virtually no brush marks. By bolts I assume that you mean the locking bolts. If so, yes it has 2 flat/rectangle fixed ones on the hinge side and 3 retracting/locking on the front side. They come out about 400mm by 150mm. It's nice to have in my home I'm sure the amateurs could not get in to it! Does a safe like this have any value? I appreciate that you would need more pictures and information for a realistic valuation but I was just wondering ball park. I'm not looking to sell it I'm just curious. Thank you again for all your help

Answer
Commercially, it would have little value simply because it could not be insured other than for a nominal £1,000.  However, you have made such a good job of refurbishing it, I am sure that someone would pay a reasonable amount for it.  The problem is that safes of this type are common, so it doesn't have any antique value and it's value as a working safe is limited by the fact that modern safes of that size with higher insurance rating, can cost under £300 these days due to the effect of cheap foreign imports.

But you can never second guess what people will pay at auction and as this safe looks so good, someone may be tempted to pay over the odds for it.  If you do get a buyer someday, make sure they agree to collect as the cost of removal and transportation could be almost as much as the safe is worth.

Regards,

Mike Palmer FSyI
Insurance Liaison Coordinator