Expert: Terry V Andreasen (Andy) - 9/16/2009

Question
Terry,

Our firm purchased a building in Franklin, PA that was built around 1905 and used to be a 5 story bank building. Each floor has a vault and the 3rd floor Ladies room has a HUGE floor safe in it. It has to be 6 feet tall, 30" deep and 40" wide. It is mounted on 4 wheels, that do not seem to pivot and I am guessing it weighs 4,000 pounds. I am told we have the combination, but I have not invested any time yet to research the make and model. I do not know what the original finish or markings were as it has been painted over with latex paint. So, a few questions for you. Who would I contact to remove a safe of this size from our building? Is there realistically a resale market for a safe of this size? (I would imagine that if you went to purchase a new safe of this size it would cost thousands of dollars). Last but not least, is there a resale market for the vault doors on each floor?

Answer
Dave,

First, In order to identify, evaluate or appraise your safes or vault doors, I'm going to need photos.  They should include full exterior and interior.  Detail photos should include pictures of the dial, handles, hinges, artwork, locks, bolt work, castors, cabinetry and any special details or damage.  Note:  You may have to remove the back panel on the door to gain access to the lock & bolt work – I will need these pics.  If you have a particular detail that you have a question about, I will need a photo of it.

Please use as high a resolution as possible.  Pictures which are low resolution, out of focus, or from a distance don’t help when we try to evaluate the container.  Note:  with higher resolution, you may only be able to send 2-4 pictures per email, depending on the size of the file.  If photos are larger than 2mb each, you may only be able to send two per email.

Please send all of the requested photos to:  andy@securitysafeusa.com

Our informal evaluation is at no charge, however if you need a formal evaluation or appraisal for insurance, estate sales, or to establish it as an antique, there is an administrative fee for this service.

Removal of the safes or vault doors should be done by a qualified safe company that has the equipment and expertise.  I don't know how many people that I've seen that insist they can move heavy safes or vault doors, only to cause major damage, or have someone nearly die in the process.  Unfortunately there are not that many companies in the US that do this type of work.  My company covers around 180,000 sq miles on the west coast for our regular area, and have gone as far away as Bejing China to build bank vaults.  I'm not sure who you would use, but there are a couple of large companies in New York - Acme Safe and/or Empire Safe.

Everything has a value, if you have the time to sit on it, and a place to store it until the right buyer comes along.  We have had safes sit in our warehouse for close to 20 years until someone came along that said "thats the safe I've been looking for"!  The question is are you motivated to sell the safe, or willing to wait for a motivated buyer?

Generally Vault doors are another animal.  You have two options - if you find someone who wants the door, are they willing to pay for the removal and moving fees also?  Most safe & vault companies will charge between $3000 to $10,000 to remove a vault door, and haul it away for disposal.  They may elect to keep it for resale.  So how much money did you make during this deal - oh yeah, it cost you $3000 to $10,000 to have it hauled off.  This is one of the reasons that banks tend to "abandon" the doors, so that they don't incur the removal costs.
There is a market, and I receive requests on a daily basis for older doors, problem is no body wants to actually pay for one.  I've got 13 doors in my warehouse that have been there for at least 5 years or longer.  New banks want new doors, not used doors.  Customers for doors include new home construction (owner has too much money), Credit unions, smaller banks, jewelers, weapons dealers, or smaller companies that want the storage space and a secure door.

Hopefully I've answered some of your questions without scareing you off.

Send me the requested pics and I'll try to ID your safes.

Andy