Safe deposit box VS home safe for storage
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  1. #1
    Member Vivian886's Avatar
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    Safe deposit box VS home safe for storage

    Where do fellow WUSeekers keep their collection? I have amassed quite a collection of modern and antique watches. The antique watches are priceless and irreplaceable, and since I store them for collection purposes only, I do not use or wear them like I do my modern wristwatches. I'm thinking of either obtaining a fire-proof home safe to safely store them in, or put them in a bank's safe deposit box. Which option do you think is safer?

    I have heard horror stories about safe deposit boxes where items were stolen and/or went missing. And since items stored in SDB usually aren't insured, the owner often loses everything (liability suits against the banks were uphill battles). If you currently use a safe deposit box, has it been safe and free of problems in your experience?

    On the other hand, I could get a home safe, but the main disadvantage is that I cannot bolt it to the ground (we only have hardwood and carpet flooring - no basement concrete slab or anything). Currently, my neighborhood is pretty safe, so I'm not worried about burglary as much as I am a house fire. Then again, even so-called "fire-proof" safes aren't heat resistant -- metals, electronics, and other such things could melt at high temperatures inside a safe, even if they do not catch fire. So in the event of a house fire, all contents inside a home safe could still be destroyed.

    At the moment, I'm leaning towards the option of a bank safe deposit box (it will cost me $300 annually). But I'd like to hear of people's experience with these deposit boxes -- are they commonly susceptible to theft? (e.g. the thief forges your signature and gains access to the contents of your box with a replicated key)

  2. #2
    Member Mediocre's Avatar
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    Re: Safe deposit box VS home safe for storage

    Get a professional to come in and tell you how to have one bolted down or built in. Building one into the floor helps reduce the worry of a fire, as heat rises

    Make sure you have them insured also.
    Do something exceptionally mediocre today

  3. #3
    Member falcon4311's Avatar
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    Re: Safe deposit box VS home safe for storage

    I have a safe in my closet, then I put 2 lag bolts though the holes, through the carpet and into the wood floor. I also have a good home alarm system with offsite video. . The monitoring is cheap and you get a break on your home insurance.





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  5. #4
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    Re: Safe deposit box VS home safe for storage

    Bank safe deposit box would be safest from theft, but it's not technically "safe."

    Your safe deposit box could be plundered if you get sued for any reason, the other party wins, and the judge allows your bank accounts to be levied.

    That's probably the paranoid, pseudo-prepper side of me speaking, but I'd opt for a fireproof gun safe and have it professionally bolted to the floor.

    Keep your valuables in there.

  6. #5
    Member Strange's Avatar
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    Re: Safe deposit box VS home safe for storage

    If fire is your primary concern get a safe, make sure it's sealed against moisture, and bury it in your yard. If you do it properly no one will even know it's there, and thus it will be pretty thief-proof as well.
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    lvt
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    Re: Safe deposit box VS home safe for storage

    The safest place for my watches is my wrist.
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  8. #7
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    Re: Safe deposit box VS home safe for storage

    Are these vintage watches family heirlooms or something?

    In the scheme of a house fire, losing my watches is the least of my worries.

    Safe deposit box is WAY too inconvenient - the whole " never wear them" concept just doesn't compute for me. If I own the watch, I'll wear it, and want it available - not plan ahead during bank hours to go pick it up.
    rfortson and stratct like this.

  9. #8
    Member little big feather's Avatar
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    Re: Safe deposit box VS home safe for storage

    I keep mine beside my head....I'm not too worried about thieves.
    Any watches posted may be seen as gifts,borrowed or found property and not as personal property of Little Big Feather.

  10. #9
    Member falcon4311's Avatar
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    Re: Safe deposit box VS home safe for storage

    Quote Originally Posted by little big feather View Post
    I keep mine beside my head....I'm not too worried about thieves.

    Thanks for the Monday morning giggle.





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  11. #10
    Moderator Public Forum John MS's Avatar
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    Re: Safe deposit box VS home safe for storage

    Unless you live in an area with a lot of break-ins keep the solution simple to allow you the quickest access to your watches. Just keep your collection on individual pillows in a padded box someplace in the house. Then if you have a lot of money in watches be sure to schedule the collection on your homeowners policy or get a personal property floater.
    Last edited by John MS; May 12th, 2014 at 16:27.

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