Norah Posted November 4, 2013 Report Share Posted November 4, 2013 Could anyone tell me what a 2010 Millennium purchased in December of 2010 should be insured for. I have a Bliss system, fabric advance, quilt guide mode. I not sure if you can look at this the way they would a new car and as soon as it is driving off the lot it is worth less. I know it would not be the replacement value, but do not know how much a machine will depreciate in 3 years. thanks in advance for your help. Link to comment Share on other sites More sharing options...
SKQuilts Posted November 4, 2013 Report Share Posted November 4, 2013 Hi Norah, I recently renewed my insurance and asked for replacement value. Hope this helps. Sheridan Link to comment Share on other sites More sharing options...
Norah Posted November 5, 2013 Author Report Share Posted November 5, 2013 Thanks Sheridan. I guess I am also looking down the road, if I want to replace this machine what it would be worth, assuming every year you own it, there would be some depreciation. Has anyone any idea. Link to comment Share on other sites More sharing options...
ffq-lar Posted November 5, 2013 Report Share Posted November 5, 2013 Taking into account the prices I've seen machine go for here--you might expect a $2000 per year depreciation on your set up until the base reaches about $10,000. Figuring that way, your new cost of about $21,000 including the Bliss and fabric advance will take your set-up value to $15,000 this year and as soon as the year changes, $13,000. Even though you bought it in December, the machine will be a year older in January--just like a car. This is very subjective and with most dealers getting the new white machines this year and selling their machines, the prices were depressed and some buyers got great deals. Remember as well that if you upgrade down the road, you'll get a better deal selling it yourself rather than trading it in. Finding a buyer takes time and payment can be tricky. Anyone with another opinion or scale of depreciation, please chime in. I said above that the base price may linger at the $10,000 range for a couple of years because most smaller entry-size models of other manufacturers start at $10,000 and someone who is ready to jump in and has that amount to spend may wisely shop used machines to get a bigger well-tested model with SR and goodies added. Just my theory, though! Link to comment Share on other sites More sharing options...
Norah Posted November 5, 2013 Author Report Share Posted November 5, 2013 Thanks Linda, that really helps me. Link to comment Share on other sites More sharing options...
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