Author Topic: Perkins Shingle mill value (Read 3289 times)

Jeff · « **on:** January 28, 2010, 03:22:27 PM »

Does anyone have a clue how you would set a value on an old Shingle Mill for Insurance purposes? A friend of mine in the U.P, had a fire that burned his garage and also burned up his operable shingle mill that set out back. The Insurance company told him to get a replacement value. How the heck would you go about doing that?

This one here on this website looks close.
http://www.oldengine.org/members/luket/shinglemill/shinglemill.html

Raider Bill · « **Reply #1 on:** January 28, 2010, 03:34:47 PM »

Jeff,

You need to find at least 2 comparable LKQ mills and average out the value.
If that is not available then you need to find a mill that does the same thing as close to the original mill as you can.

Are you sure they are looking for replacement value as opposed to actual cash value?

Raider Bill · « **Reply #2 on:** January 28, 2010, 07:19:15 PM »

Your friend will do better if it's replacement value.

Jeff · « **Reply #3 on:** January 28, 2010, 07:23:10 PM »

When they called, they said replacement value. Problem is, you can't really replace the thing.

zopi · « **Reply #4 on:** January 28, 2010, 07:30:31 PM »

Quote from: Jeff on January 28, 2010, 07:23:10 PM

When they called, they said replacement value. Problem is, you can't really replace the thing.

Go with the nearest acceptable substitute...unless you can find similar mills..

Raider Bill · « **Reply #5 on:** January 28, 2010, 07:31:49 PM »

No you can't but they have to replace it with a newer one that does the same thing or pay him that amount. If they can't find one which seems doubtful. ACV, actual cash value will almost always be lower than replacement.

If they find the same mill [a comp] on craigs list or where ever in BFE then that sets the ACV. because they have to replace it with a machine that does the same thing then it will be a more modern machine = more $$$

scsmith42 · « **Reply #6 on:** January 28, 2010, 07:39:46 PM »

Jeff, what about obtaining some estimates from some of the folks over at OWWM.com? There are several Perkins Shingle Mills listed there (as being owned - not for sale).

Don_Papenburg · « **Reply #7 on:** January 28, 2010, 10:21:52 PM »

What got damaged? It looks to be all castiron except for a few wood parts . Or was it an older model with a wood frame? If He needs parts cast I know were he can get that done. The broken ones can be temperarly fixed and then used as patterns for new parts or wood patterns can be made . Figure your time to repair the machine to new condition . Sandblasting would be 130.oo per hour A machine that size would be about one hour to get a mill finish . Two hours to get a white metal .then you would want to paint it Cheaper paint would run about $40.oo gal up to and above 120.oo /gal.Then painting would take a good three to four hours . Pouring babbet or replace ing bearings I am not sure of that cost . So figure your Time &Material then double it That should give you replacement cost
New cast replacement parts can cost as much as $5.oo a pound , depends on complexity

Raider Bill · « **Reply #8 on:** February 17, 2010, 11:26:25 AM »

Jeff,

As an appraiser I'm courious how this is going?
Did you find a price?

Jeff · « **Reply #9 on:** February 17, 2010, 01:58:23 PM »

I didn't find a price for them, and have not talked to them about it, but I will eventually. (talk to them)

Raider Bill · « **Reply #10 on:** February 17, 2010, 03:29:53 PM »

Just wondering. Pricing out that weird stuff interests me.
I'm working on a 1991 Grumman Olsen LLV [mail truck] right now. Finding prices / comps has been hard.

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