Museum & Collector Asset Tracking
Museums are looking for ways to make their tight budgets stretch further. Making the transition to a Cloud-based Software and Mobile App system from Asset Panda saves time and money.
Asset Panda can be up and running quickly. Our system dramatically improves the management and integrity of asset related information, including grant-funded assets. We are proud to serve the people who preserve our culture and would like you to join people all over the world who trust Asset Panda to track their collections.
Easy museum & collector asset tracking with Asset Panda
It’s time to retire the spreadsheets and receipts crammed into shoe boxes and desk drawers. Asset Panda’s Collection Inventory simplifies the process so that you can inventory your entire collection, update your information, and keep it secure all in the palm of your hand.
Collection inventories and you
An insured collection requires an inventory. A collection inventory should provide a comprehensive report that includes detailed descriptions of the items and pictures of the collection. Your collection inventory is essential for documenting insurance claims and developing a comprehensive estate and financial plan.
If you’re like most people, you probably don’t use any form of inventory system to catalog your collection. Most people avoid collection inventories because it seems too complicated or they fail to see the benefits. With Asset Panda, this process is incredibly simple and very convenient. The application downloads straight to your smartphone, and you can start your inventory right away.
More than just a formality
How prepared are you to lose your collection? If you were separated from your collection, could you list everything in it? From there, could you provide all of the facts and details that an insurance company would demand? Very few can. Tragically, a failure to do so results in problems with insurance companies when it comes time to collect. Insurance companies demand a detailed list of all items that are destroyed, damaged, or stolen. Without proper documentation, you may not be able to collect anything. The burden of proof is on your shoulders. In other words, if you have to go to court, you have to convince the judge or the jury that you did have the item and that it was insured. Otherwise, the insurance company wins.
Why should you compile a collection inventory?
Still not convinced? A collection inventory helps you in many ways.
Ensures necessary amount of insurance coverage
Aside from helping you with your insurance claims, it’s also good for determining whether you have purchased the necessary amount of insurance coverage. Choosing too much insurance can be just as bad for your finances as choosing too little.
Identifies items and limitations
Certain collection items only have limited coverage. These items, such as jewelry, coins, antiques, artwork, and silverware, typically fall into this category. Once you realize these gaps, you can evaluate whether you want to purchase additional coverage through a rider to insure them for their full value.
Effectively evaluates your collection
It’s important to evaluate your collection regularly to determine whether you want to insure items at “replacement cost” or “actual cash value.” These are terms that Asset Panda’s inventory app can help you to better understand and determine for your situation. The replacement cost is generally the amount required to replace or repair your collection with items of a similar quality, but it results in a higher appraisal.
Verifies the condition of your collection
Loss and damage can strike at any time through intentional actions and accidents. You need to make sure that you can verify your collection. It’s important to do this even when you’re planning to just move or store your personal collection.
Otherwise, the insurance company wins.
Photographic documentation with the Asset Panda collection inventory
It’s easy to use the Asset Panda Collection Inventory. One of the most basic ways to start is by documenting all of your antiques and collectibles using Asset Panda’s mobile app directly from your smartphone.
Take several photographs of each item from EVERY angle, plus close-ups of serial numbers, distinctive marks, and evidence of damage.
Typical information included in your collection inventory report
A good collection inventory report includes the following information:
- Date of purchase
- Amount paid
- Serial numbers, distinctive marks, signatures
- Evidence of damage or repairs
- Information about the item: The date made, Where it was made, What it was made of
- Appraisals and estimations of value
- Detailed description of item
In insurance and estate planning situations, you are most likely to avoid problems by being specific. Using this app will allow you to inventory your collection, keep the information handy, and give you peace of mind all at the same time.
Generate Your Own Quote
With Asset Panda you will
- Know what you own
- Know where your assets are
- Know who has them
- Know what condition they are in
- Store all information related to an Asset in one location
- Save Time and Money!!!