Wow! How much do you have?

[MtnBarb]

Today, I finally inventoried everything in my sewing/quilting room for insurance purposes. Never in my wildest dreams did I think I'd have $40,000.00 worth! (And I consider my room small and I don't quilt for customers.) That's from floor to ceiling and everything in between, such as cabinets, gadgets, fabric stash, longarm, etc. You name it, it was counted. Some were guess-timates (such as thread, books, etc.). The good news is that the DH inventoried his gun and motocycle stuff and he had three times more than I do!!! YEA! Guess that means I can keep buying! Have you done an inventory lately?? I'd be interested in what others estimate they're worth!!

[Quilting Heidi]

Holy cow! That is a good thing to keep track of. I'm sure I'd have sleepless nights if I had that figured out!

[DB]

I couldn't even guess. Between my longarm, 4 sewing machines, hundreds of spools/cones of thread, 200+ books, rulers, Circle Lord, and I can't even imagine how much fabric; it's got to be way up there.

Just keep this in mind: There are worse addictions. At least we all have something wonderful to show for all the spending.

Dianne

[Sparkle]

Hi Barb,

I just finished a serious de-stashing of fabric and quilt patterns and leftover batting pieces and fat quarters. You can read more about it on my blog. Let's just say it was "eye-opening" or it revealed my dark side (hoarding).

Once this reorganizing is finished. I plan to inventory everything so in the event of my death my family will have some idea of what things are worth. My husband has done this with power tools and such. Of course things do devalue as time passes on. Or become "collectibles". ( I wish!)

I also plan to name a few of my younger quilter friends as my 'heirs'---my children and grandchildren have no interest in my stash, machines, books, threads, patterns, needles, long arm, etc.

This scenerio was played out in true form a few years ago with our quilting mini group became involved in inheriting our friends quilting room when after a long battle with breast cancer she passed away. Her family would not even go into her sewing room, and had little interest in what value was there except to sell her two sewing machines.

We sorted for weeks, and in memory of our friend, we established "The Martha Quilts".

http://picasaweb.google.com/angiesquilting/TheRemnantsTheMarthaQuilts?feat=directlink

We have been sewing almost non stop for two years using Martha's stash and making donation quilts.

I know I have a ton of stuff! But, I haven't actually inventoried it. It must be in the thousands by now. I know the recent haul I took to a local donation center went way beyond the $500 limit they said I could claim for tax purposes without a professional appraisel. (that's what it says on the donation receipt).

Thank you for the reminder that a detailed inventory could be important at some future time for many reasons we don't often think about.

[mrsbishwit]

Barb, you are a brave woman to take this step, I personally would rather remain ignorant as to how much $$ if have invested....I couldn't handle the guilt.

When my DH does my taxes each year he has everything broken out into what was spent for that year (based on the receipts) so he has an idea....could be why he told me last year he thought I didn't need to buy anymore fabric :P:D

[Linda G. Craig]

Angie, what a beautiful legacy you have given to your friend Martha! The quilts are gorgeous. How wonderful for you all to remember your friend in this way. Her family must be really impressed. I sure am. Wow!

Have I done inventory on my studio? Well, not really. Not sure I really want to know exactly. Just off the top of my head I'm up to $35,450 and that is just machines only. Nope that's it, I'm not going any further with this inventory. I love it all and it's worth so much more to me. (That's my story and I'm sticking to it! :P:P:P)

[JustSewSimple]

That was a smart thing to do. I don't want to even know but I'm thinking not that much.

[Front Porch Quilting]

If I was brave enough to do that, which I probably am not, I definately would not let this get into my husbands hand till I was gone!!!!:):)

[Judi]

Angie - I could be your new best friend!!??!! Just kidding - love to read your posts - so you just have to stay around!!

Barb - no I have never done this, but it does seem like a great idea. I would first have to find all of the many bolts and items I have hidden and stashed about the house..... and actaully get organized!!! WOW!! That would be something.... wish I could call in one of those shows to do it for me...... but I don't want to actually get rid of any of it - not yet anyhow..... :cool::cool:

[ffq-lar]

I also am not going there! My DH is not working and so happy to have the time to sort and clean various outbuildings and our basement. It's like an archeological dig--the oldest stuff is in the back! Yep, we found the crib against the far wall--our son is 30 this year!

Anyway, a question for those doing insurance inventory--is that original price (like for replacement) or depreciated price. I know I have books and fabric that are more than 10 years old. They (the books) could be replaced on Amazon for fractions of my original cost. How did you value your stuff? And if it was lost in a catastrophe, how much of that would the insurance pay? I know we have some sharp insurance people here--lead me in the right direction please. I have insurance on my machine, but a lot of my stash and books are in the sewing room.

[Gator]

I am not going there either because it's to scary. I have that much and more in just sewing machines (yikes)!!!! I do know that if a hurricane is headed our way the sewing machines, and motorcycles go into the RV and head North (I'll try to fit my DH in with the priority stuff).

[Mary Beth]

I started to write everything down a couple of weeks ago and write the prices next to the item...I didn't get far but was blown away by the amount!!! I think we would all be shocked.

[quiltmonkey]

Originally posted by MtnBarb

Today, I finally inventoried everything in my sewing/quilting room for insurance purposes. Never in my wildest dreams did I think I'd have $40,000.00 worth!

This number does not surprise me one bit.

[meg]

you know what i say?

;)IGNORANCE IS BLISS!!!!!

[Grammie]

Gee Barb I'm scared to add it all up. Think I'll get back on this. lol Glad my husband doesn't read this forum. lololol I'm not TELLING!

Hugs

Grammie

[MtnBarb]

Originally posted by ffq-lar

Anyway, a question for those doing insurance inventory--is that original price (like for replacement) or depreciated price. I know I have books and fabric that are more than 10 years old. They (the books) could be replaced on Amazon for fractions of my original cost. How did you value your stuff? And if it was lost in a catastrophe, how much of that would the insurance pay? I know we have some sharp insurance people here--lead me in the right direction please. I have insurance on my machine, but a lot of my stash and books are in the sewing room.

When I listed the prices, I used the orginal purchase price from the invoices I had (machines, gadgets, cabinets and other big ticket items). A lot of it was easy since we just remodeled the garage into my room and the DH kept the receipts for tax purposes. Then I averaged others as in one cone of thread cost $10 @ 30 cones = $300. Books: Average: $25 for 1 x 50 books, etc. Fat quarters: average $2 each x # of fq = $$$ You might give your insurance agent a call and find out how they would list things and how you'll be reimbursed. If I understand it correctly, a separate business policy would give you better coverage than just listing it on your homeowners/renters policy.

Somewhere on the internet, I found a property inventory list longarmers that listed each item and you filled in the amount. I looked on the sheet but couldn't find where I down loaded it from. (Maybe it was part of the info that APQS gave me on how to create a business plan??) You might do a google search. Hope this helps.

[IBQLTN2]

I have not evaluated my quilt studio either as it seems just too much work and could be held against me in a court of law, as in divorce, not really just kidding about the divorce thing. But I did one year decide I was going to keep reciepts of all quilt related expenses for the year, just to see what I had spent and after just a few months I decide I would be better off not to know and stopped before it got me in trouble. lol When you start counting machines, quilt trips and retreats it really adds up fast. Seeing as though I am not in business I think I am better off not knowing these things, all I know is if the house catches on fire the first place I will be throwing things out the window is up in my studio!!:o

[KerryM]

I am just too darned afraid. If I put it down on paper, I would then know my biggest darkest secret!!!!!Just my Millie and CQ are big $$$$$$$I can't even go there, I scares me too much!!!!

[Stagecl]

I am not adding, looking or going to touch this with a 10 foot pole...I already know it is a lot:o

[MtnBarb]

HA HA You chickens!! I only consented to the inventory because I KNEW that he had more toys than I do and that they cost more!

Besides, I was once an insurance agent and the caution sticks with you. I had clients whose homes were destroyed and they lost everything including receipts. I always advised them to stand in the middle of a room with a camera and take pictures in all 4 directions. Sometimes in a crisis, you're too upset to remember things or something is hard to describe (like a rare table or vase) and a picture does the job. So, get in there a get busy!!!

[Sparkle]

Hi Linda, Barbara,

Actually the family is not impressed---which has been a real eye opener for us. We finished a few of the quilt tops Martha had started and sent them to her children for the grandchildren. No acknowledgement from anyone.

The fact that we love quilting and quilts is frequently "our thing". We are the ones that feel it's passion---and not necessarily the family around us. That is why I feel a good inventory of the more pricey items will be a good idea. I can just see one of my family members selling my long arm for a few thousand if not a few hundred dollars---

In fact, such an experience did occur when I purchased the used Ultimate II in 2007. The family had no idea what it was worth after the owner died. They did have it appraised----- by some quilting friends of the deceased. I thought it was a fantastic bargain. I felt their their appraisal was quite low---but, hey, I didn't complain or offer a higher price! ---but I'm mentioning this as an example of what can happen.

I'm not going appraise every packet of buttons, needles, and/ or smaller priced items. Just the major stuff. For one thing the small item inventory will change as time passes. But, the long arm and some of the more expensive template and ruler attachments are worth writing into an inventory book of some type. (sewing machines, etc.) I don't know at what point I could inventory fabric. I would have to make it a rounded out amount in the thousands just gauging on what I removed from my sewing room this past weekend. I also do not plan to keep this inventory and receipts in our house but in a safe place along with pictures.

Thank you Barb ---I know there is the humorous aspect of all this But, on a more serious note I really should do this for insurance purposes. We live in a very wooded area of California where fire danger looms every year from late June until the rainy season starts. We have a well and generator and a sprinkler system around the perimeter of the house---but the reality of 150 foot fir and redwood trees on fire (we live in the middle of a forest) ---we know staying and fighting to keep the house wet would not probably be in our best interest at our age. We would just leave-----

I have the composition book and the major purchase receipts....I have just never sat down and did this----now I will.

[MastiffMomQlt]

All I can say is the pure joy I get from playing in my fabric, threads & on my machines is PRICELESS

[RitaR]

Isn't going without an inventory, and/or pictures going to put us in a place where the Ins. Co. is only going to give us a fraction of what we lost, instead of even depreciated??? That's the way I understood it. Our Ins. Co. said the Lenni, the Viking D1usb and the treadle New Home would be covered.. Hubby forgot to tell her what we paid for the Viking.. and the sale value of the New Home. I know it wouldn't come any where near pricing everything.. the insulation boards that are much like a flannel wall..I hang orphan blocks, or small pattern envelopes.. the clamps for the side leaders, and pictures, a card with Musk Ox Qiviute, (Is that correct spelling Shana?) the super warm under coat of fur, a Mt. Goat and another animal. Things that mean something to me.. also the calendar, a clock, extra leaders, Pantos, threads, machine parts, like new bobbin casings and a load of the blue spring in the bobbins.. the Turbo Winder.. Plus the pantry full of quilt related things, sewing table in one corner, shelves of attachments, perm water color pencils a case of scissors and sheers. etc.. so nothing is really much by itself, but anyone who has more than a closet of fabric, plus the machines QZ or CL, hartley fence, computers on the machines... I'm sure would have the $40,000.00 and probably a lot more.. We are thinking about checking in on higer insurance just for the quilting things,, BUT, How in heck do you figure the cost of yardage, and large scraps like 6"square minimum in size?? I have loads of it.. I have several battings which were given to me, some of my threads, rulers, templates, pantos and stencils were given to me.. and 3 yard leaf bags of yardage and large scraps are coming, plus a good sized bag from another friend, just so I can keep making and giving away quilts..

Fabric, plus backing, and batting and quilting, just run to high to make and give away 2 or 3 quilts a month.

Most of my quilt books were given to me, and that means God Has Blessed me Very Much, but there is no inventory. Oh, my stash and a cutting table with mats are in the guest room. With a pantry and a set of cupboards small ones.. and 4 large Library book cases, Where I keep all the stash..

I think I am convinced to do a couple shelves, the cones of threads and the spools separately, and the prewounds, one or two a day, then beg help from someone, maybe invite 2 or 3 gals for a HELP RITA day and have a nice lunch for them, too, and rerturn the favor by doing what they want done. I had two gals offer to help, and I told them it would take a lot more than 2 or 3 hours.. they came once, we were sorting and folding to size, and they didn't get back. All my stash was on the floor or table in colorways.. then size.. I gave up on finishing, maybe 4 days more of at least 4 hours.. measuring, folding, sorting, etc. Himself and I just stuck it back on the shelves.. didn't get it finished.

Now I need to do it all at the same time.. sounds like a plan Sam. I'm doing a lot of having a convo with myself here.. hope you don't mind.

Ritar

[kjstrouble]

I don't know how much fabric I have, but I have all of my machines covered by insurance. An inventory would be a great idea, and I hope to do one when I re-set up my quilt room after painting and building my floor to ceiling bookcases. Right now, most of my fabric are in storage bins, because I have no way to set them out.

I just spoke to someone (city inspector) who said he and his sister are moving his mother to a nursing home, and would I be interested in her fabric and such. I said I would go through the fabric to find what would be in a good enough condition to be donated to a local guild to make charity quilts. He thought that would be a great idea.

[MtnBarb]

It's so good to see that I've lit a spark for some of you about the importance of knowing what you have. Just to let you know, one of my DH's hobbies is gun collection. This means that he has a gun safe for storing them. It's fire rated at 2500 degrees. I told him I was going to take the guns out and put my stash and DMS in there to keep it all safe!!