I am an appraiser, not an insurance professional.  Appraisers are allowed
three approaches to value:
1.  sales comparison is finding the recent sale of the subject property in
the proper market (most times auction is not the proper market for
insurance).
2.  cost approach which includes cost of replication - not a good
methodology for scientific specimens unless you have a DNA lab and a lot of
time.
3.  Income approach - what the widget will earn over time.

I have valued large mammal trophy collections (lions and tigers and
bears.....) but so far only for charitable donation or divorce.  Both
reasons require fair market value which is the auction market.

I too will be interest in the suggested methodology to appraise millions of
small jars of pickled specimens!

Sara Conklin, ISA CAPP
800-464-4208

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