Us$ 1 Million Stamp Collection Stolen

The common ground is our love for our hobby, at the end of the day this thread/issue is not worth making enemies over. Showing each other consideration, appreciating diverse and differing opinions, and maintaining a family friendly tone is the hallmark of this community.
Don

Insurance will more than likely pay, no matter how careless the owner was.

One way to do this is to chastise privately, in an eMail, rather than in public ...

... and hope that the poster edits their own post.

Cheers,

/s/ ikeyPikey

But wait ikey.. If I send another person a private message or email the rest of the folks won't see my rapier-like wit!

But seriously, thank you for this good point. Folks can always privately reach out to each other if they feel the need to address an issue and want to use a stronger tone.
Don

A person is innocent until proven guilty in the court of law: that's true (at least in the US and in Australia, not in France, for example, where they are still using the Napoleonic code).

It may have been a random robbery. But even if this is the case, leaving a million-dollar worth of material on the back seat of a car in a restaurant parking lot? I would never do that. Would you?

From the point of view of the insurance company, it could look loke a gross negligence, and in their place I would certainly suspect that this has been done on purpose. There is nothing unreasonable in this suggestion. And it would have nothing to do with the previous history of honest dealing with collectors.

Once upon a time, I was visited by a couple of interviewers from a certain federal agency. They were going to conduct a paid-for interview with me, and they carried a briefcase with documaents and cash in their car. When they arrived at my address, they said that on their way they stopped at the fast food place, and, while they were in, somebody stole their briefcase, breaking into their car on the parking lot. For this reason, they said, they could not pay me for an interview. Perhaps they were telling the truth; perhaps not. In any case, I insisted that they should uphold their end of the deal, and they had to come again.

Why leave important documents in a car? Why keep cash with those documents? Why couldn't they take their briefcase with them to the fast food place? Why couldn't they pay for an interview by writing a check? Negligence of this sort immediately raises many questions, even if it is no more than negligence.

P.S. Re: "Diahorrea" vs. "Diarrhea"

I must admit that the first spelling still exist, though during my 35+ years of working with English medical texts, I've never come across this strange spelling. There is a first time for any kind of diarrhea, I suppose.

However, Greek etymology of this term (late Middle English: via late Latin diarrhoea from Greek diarrhoia, from diarrhein 'flow through,' from dia 'through' + rhein 'to flow) suggests that "h" following the second "r" is correct, while "Queen's English" in this case went astray.

Negligence is not a reason to deny an insurance claim for loss. Normally all it takes is to prove that the item is no longer in a policyholder's possession due to unknown circumstances ("mysterious disappearance"). All valuables should always be insured. If an insurance company refuses to pay, an attorney should be consulted.

Correct, but speaking only in the abstract and without any intent to impugn the dealer mentioned in this thread, insurance companies can deny claims if they determine that intentional fraud occurred. If a policyholder makes a $1 million claim under circumstances such as this, I would expect the insurance company to conduct a detailed investigation seeking to determine whether negligence or fraud occurred, possibly in cooperation with local police especially if a police report was made. The policy almost certainly permits a claim to be paid only after a reasonable time for investigation such as this.

Stanley Piller had about $2 Million in stamps stolen in a similar fashion in 1999 (they were just about all recovered in the next 4 years): http://www.nytimes.com/2003/02/08/n...-stamps.html

The larger risk from self-restraint is that I'll re-dislocate that shoulder while patting myself on the back. Again.

Cheers,

/s/ ikeyPikey

If the theft was not reported to the police, likely there is no claim to be made. If the the theft was reported and proven to be false, there is much more to worry about than insurance investigators. Fraud is a reason to deny a claim, negligence by an insured is not.

OK...OK Back to the problem ....first it needs to be established was this a philatelic theft [was he followed from the show and what he had was targeted] if that's the case then don't expect to see that material again or it is already broken down and repackaged .
If it was just a lucky grab in the parking lot [police will have a history of other car break-ins or smash and grabs } then we are in luck because the package most likely is still intact . It takes someone to make the rounds offering to buy anything and everything collectible .A few thousand in hundred dollar bills and drift around for a few days will get some interest ,then a negotigated deal can be put together .
The way I would handle it ,is by claiming to work for the insurance company and want that material back so the guy can't burn the insurance company and save money in lawyer fees in court fighting over a settlement . I bet that material will pop up for a quiet settlement of 10,000 or $15,000 cash no questions or police around .
Somebody better act fast because that material can make it to Chicago fast .

"There is a first time for any kind of diarrhea, I suppose."

Words to ponder.

Dave was at the Orcoexpo show last weekend.

Unfortunately, when you hear that someone has a somewhat strange business loss, the first question is, was it insured? And if it was, then yes, you wonder...

No reflection on this particular dealer. I've probably looked at his material if he's been to Chicagopex, but I don't know him.