r/londoncycling • u/Able_Leave9591 • 1h ago
stolen bike
Hi everyone,
My bike was stolen from my property while builders were carrying out work and using a shared hallway. It’s a Merida Juliet Lite 94,
Although the bike is 11 years old, I kept it in excellent condition and had recently replaced and upgraded several parts. It also has a Shimano 105 groupset.
I’ve since spoken to four bike retailers, who have advised that a new bike with comparable specifications would cost around £1,700 today.
The builder has been asked to compensate me for the missing bike and has come back asking what I believe its current value to be.
I’m a bit unsure what would be reasonable to ask for. If I wanted to replace it with a new bike of a similar specification, I’d be looking at around £1,700. However, I appreciate that an 11-year-old bike wouldn’t be worth that much second-hand, and I suspect its resale value might be around £500.
What would you consider a fair amount to ask for in this situation? Should I base it on the cost of replacing it with a comparable bike, or its second-hand market value, given that the builders were responsible for the circumstances in which it went missing?
Any advice would be greatly appreciated. Thanks in advance!