In 2007, two duck decoys carved by renowned artisan A. Elmer Crowell sold in a private deal for $1.13 million each. This deal shows that these ducks aren’t just hunting tools anymore — they’re priceless examples of American folk art, commanding prices that rival luxury cars.
For insurance professionals, it can be challenging to understand why these seemingly simple objects can command such high valuations. Unlike mass-produced collectibles (like wine or coins), antique duck decoys are often one-of-a-kind or exist in very limited numbers. Many have been passed down through generations or acquired at exclusive auctions. In short, their value is highly subjective and requires expertise and connections beyond most insurance agents or brokers.
In this guide, we’ll break down the unique value of antique duck decoys, key appraisal considerations, and what you need to know to offer the right insurance solutions. Whether your client owns a single high-value decoy or an extensive collection, you’ll walk away with the knowledge to confidently provide them with specialized coverage that protects their prized possessions.
What are Antique Duck Decoys, and Why are They Valuable?
Duck decoys are hand-carved wooden birds originally used by hunters to float on the water and mimic real ducks.
Today, we have modern equivalents, but these antique wooden birds are still prized as collectible folk art. Thanks to their rarity, historical significance, and artistry, decoys from renowned carvers can be worth hundreds of thousands of dollars.
However, not all antique duck decoys are worth six figures. Whether a piece is a museum-worthy collector’s item or a more common find will be determined by the following factors:
- Maker: Decoys from master carvers like A. Elmer Crowell, the Ward Brothers, or Nathan Cobb Jr. are the most valuable.
- Age: Older decoys, particularly those from the late 19th and early 20th centuries, hold greater historical and monetary value.
- Condition: Decoys with original paint, minimal repairs, and well-preserved details are worth more.
- Rarity: Limited-production pieces, one-of-a-kind carvings, and unique designs tend to fetch higher prices.
- Provenance: A well-documented history, including ownership records and past auction sales, adds to desirability and value.
- Species and pose: Certain species, like pintails and geese, are more valuable than common ducks. Unique poses, such as preening or sleeping, are also highly sought after.
For insurance professionals, understanding these valuation factors is crucial when securing proper coverage for collectors.
How Can Your Client Get Their Antique Duck Decoys Appraised?
Before insuring a duck decoy collection, your clients need an accurate appraisal to determine its true value. Unlike standard property, these collectibles require specialized evaluation methods.
Here’s where they can start:
- Professional appraisers: Experts in antique decoys or folk art, like those from the Appraisers Association of America, can provide formal valuations based on market trends, maker, condition, and rarity.
- Auction houses: Prestigious auction houses, such as Sotheby’s or Copley Fine Art Auctions, regularly handle high-value decoys and can offer credible market-based valuations.
- Collector clubs and associations: Organizations like the Ward Museum of Wildfowl Art or the North American Decoy Collectors Association can connect collectors with trusted appraisers and provide valuation insights.
- Sales comparisons: While not a substitute for a formal appraisal, reviewing recent auction sales of similar decoys can give collectors a rough estimate of their value.
How to Insure an Antique Duck Decoy Collection
The best way to insure an antique duck decoy collection is with a specialized fine art and collectibles insurance policy. This kind of coverage ensures each piece is protected at its full appraised value and accounts for risks unique to collectible decoys, such as accidental damage, theft, and environmental factors like humidity and warping.
A standard homeowner’s or renter’s policy isn’t enough. These policies often have low limits for collectibles, may not cover market fluctuations, and typically exclude damage that occurs during transport or display. Without proper coverage, collectors risk significant financial loss if their decoys are stolen, broken, or devalued due to improper restoration.
How Much Does Collectibles Insurance Cost for Antique Duck Decoys?
The cost of insuring antique duck decoy collections depends on several key factors unique to your client’s collection and circumstances. Here are some of the factors our expert underwriters would consider when creating a policy for your client:
- Collection value: The higher the collection’s appraised value, the more it will cost to insure. Comprehensive coverage ensures each decoy is protected at its full worth.
- Security measures: Collections stored in locations with advanced security systems, climate control, and proper humidity management may qualify for lower premiums.
- Location: Storing a collection in an area prone to natural disasters or with higher crime rates can increase insurance costs.
- Deductible selected: Opting for a higher deductible can lower premiums but increase out-of-pocket costs in case of a claim.
- Documentation and appraisal quality: Well-documented and professionally appraised collections make it easier for insurers to determine value, potentially leading to more favorable rates.
Want to get a bindable quote for your client? Register as a broker with Distinguished, submit your business, and receive a response in as little as 48 hours.
Why You Should Partner With Distinguished for Collectible Insurance
Partner with an experienced MGA like Distinguished to get your clients the specialized collectible coverage they need to ensure their collection is fully covered. When you partner with Distinguished for your collectibles clients, you’ll get:
- Expertise in niche markets: Access to underwriters with deep knowledge of rare collectibles, including antique duck decoys, ensuring your clients receive accurate valuations and tailored coverage.
- Comprehensive policies: Coverage that includes worldwide transit, theft, accidental damage, natural disasters, and automatic protection for new acquisitions.
- Flexible limits and deductibles: Options to customize policy limits and deductibles based on the value and size of your clients’ collections.
- Fast claims handling: A dedicated claims team experienced in handling high-value collectible claims quickly and efficiently.
- One policy for all collectibles: The ability to cover not just duck decoys but an entire collection, including fine art, musical instruments, comic books, antique and collectible firearms, taxidermy, and more, under a single policy.
Get Your Client Comprehensive Coverage Through Distinguished Today
By partnering with Distinguished, you can offer your clients comprehensive protection for their valuable collections with the confidence that comes from working with experts in collectible insurance. Our Fine Art and Collectibles Program provides worldwide coverage, protection against theft and damage, and automatic coverage for new acquisitions — all tailored to the unique needs of high-value collections.
Ready to get started?
Brokers new to Distinguished can get started by registering and getting their login details.
For collections with limits up to $500,000, submit your client’s business through our online portal, and we can get you a bindable quote right away. For larger collections, you’ll need to submit through a downloadable form to submitfac@distinguished.com.
