I learned that if I'm carrying valuable goods in my checked baggage I should declare it to the airline, but I will have to pay for it.
How much should I expect to pay?
I'm traveling international with Qantas and carrying many electronic devices (video game consoles, tablets, cellphones) inside one of my baggage. It shouldn't be worth more than USD 1500 but this is much more they would pay in case the baggage is lost.