Author Topic: How do I value my bike (need for legal purposes.)  (Read 988 times)

Tami1982

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How do I value my bike (need for legal purposes.)
« on: August 19, 2014, 10:12:08 PM »
I bought this bike in August of 2013: http://www.giant-bicycles.com/_pdf/bikes/united_states/giantbicycles-66198-escape.city.w.pdf

In the meantime I was robbed and it got scratched up a bit with a few dents in the process.  The fenders also got warped. 

I'm involved in an court case and they are demanding to know the value of the bike, but I'm not sure how to do a valuation.  Anyone have some input or resources?

gimp

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Re: How do I value my bike (need for legal purposes.)
« Reply #1 on: August 19, 2014, 10:44:17 PM »
Depends. Are you possibly looking at getting money back for the damage? If so, get a quote from a repair shop. Or is the interest more academic? Give them the replacement cost, retail, of a new bike (identical or equivalent.) The fact that it may be used and worn at the time the damage occurred doesn't mean it's "worth" isn't the cost of the thing brand new, in my opinion.

Tami1982

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Re: How do I value my bike (need for legal purposes.)
« Reply #2 on: August 20, 2014, 09:03:02 PM »
Thank you for your input.  I found a website called bicyclebluebook that gave me a ball park so I know what to tell the court.  It may not be perfect, but it's something they can see.  Thanks!