Bike recovered by Police after 2011 theft- What now?
Discussion
Folks,
A colleague just called me to advise that my mountain bike stolen in 2011 has turned up at a warrant, it is now in Police possession.
The insurance company paid out last year, so obviously I cannot reclaim the bike directly.
Does anyone have knowledge of how one may purchase the bike from the Ins company, or if they tend to be amenable to cheeky offers? The insurance gave me a cash settlement rather than replacing the bike, so I wouldn't mind it back.
It's a 2010 (I think) Cube AMS.
Ta,
Sam
A colleague just called me to advise that my mountain bike stolen in 2011 has turned up at a warrant, it is now in Police possession.
The insurance company paid out last year, so obviously I cannot reclaim the bike directly.
Does anyone have knowledge of how one may purchase the bike from the Ins company, or if they tend to be amenable to cheeky offers? The insurance gave me a cash settlement rather than replacing the bike, so I wouldn't mind it back.
It's a 2010 (I think) Cube AMS.
Ta,
Sam
Paul Drawmer said:
I'm pretty sure it belongs to the insurance company. It is best to talk to them before just appropriating it. It all depends on the company, but they will only expect to get a small proportion of their stolen bikes recovered. Make them a cheeky offer.
Oh definitely. Given I work for the recovering organisation ( 
) then I can't do anything remotely dodgy in this case. And wouldn't. There's nothing to say that the insurance have paid out but dishonesty is not my game. I'll speak to the detained property clerks to find out what they normally do in these cases and go from there. Hopefully worst case scenario is a cheeky offer to get the bike back 
What a beautiful story, The op found his old bike like being reunited with a long lost friend or a family finding they had all survived after a disaster.
I don't know about you guys but I think the world looks a better place after such a heart warming tale.
It's like waking up this morning and finding out it's an unexpectedly sunny day.
I don't know about you guys but I think the world looks a better place after such a heart warming tale.
It's like waking up this morning and finding out it's an unexpectedly sunny day.
Edited by el stovey on Monday 12th March 14:48
Rang Endsleigh this morning, brick wall as expected.
They told me that the bike was their property (Yeah, I know that, that's why I'm calling you...)
Further to that, they advised me to take it to a bike shop to get it valued (Well, I can't do that because, as you said, it's your property!)
They then stated initially that I could give them back their initial payout to buy the bike back, then conceded that actually I'd just have to pay them current value.
So basically it seems a great deal on their part- I do their leg work and pay them the exact current value? Not on your nelly!
I did enquire what would happen if I didn't do this, they said that they would collect it, I find this highly unlikely.
They are going to ring me in 2 weeks for an "update" despite me clearly saying it won't be released by the Police for some time after then due to an ongoing investigation. They said they'd ring anyway. I suspect this has opened a can of worms!
I'll get a valuation but, to be honest, am not going to be paying the full market value under any circumstances, hopefully if they fail to collect after a while they'll take a lowball offer.
Do they *REALLY* send people to pick up recovered mountain bikes and then sell them? Where do they sell them? I suspect this is a ruse.
They told me that the bike was their property (Yeah, I know that, that's why I'm calling you...)
Further to that, they advised me to take it to a bike shop to get it valued (Well, I can't do that because, as you said, it's your property!)
They then stated initially that I could give them back their initial payout to buy the bike back, then conceded that actually I'd just have to pay them current value.
So basically it seems a great deal on their part- I do their leg work and pay them the exact current value? Not on your nelly!
I did enquire what would happen if I didn't do this, they said that they would collect it, I find this highly unlikely.
They are going to ring me in 2 weeks for an "update" despite me clearly saying it won't be released by the Police for some time after then due to an ongoing investigation. They said they'd ring anyway. I suspect this has opened a can of worms!
I'll get a valuation but, to be honest, am not going to be paying the full market value under any circumstances, hopefully if they fail to collect after a while they'll take a lowball offer.
Do they *REALLY* send people to pick up recovered mountain bikes and then sell them? Where do they sell them? I suspect this is a ruse.
carreauchompeur said:
Rang Endsleigh this morning, brick wall as expected.
They told me that the bike was their property (Yeah, I know that, that's why I'm calling you...)
Further to that, they advised me to take it to a bike shop to get it valued (Well, I can't do that because, as you said, it's your property!)
They then stated initially that I could give them back their initial payout to buy the bike back, then conceded that actually I'd just have to pay them current value.
So basically it seems a great deal on their part- I do their leg work and pay them the exact current value? Not on your nelly!
I did enquire what would happen if I didn't do this, they said that they would collect it, I find this highly unlikely.
They are going to ring me in 2 weeks for an "update" despite me clearly saying it won't be released by the Police for some time after then due to an ongoing investigation. They said they'd ring anyway. I suspect this has opened a can of worms!
I'll get a valuation but, to be honest, am not going to be paying the full market value under any circumstances, hopefully if they fail to collect after a while they'll take a lowball offer.
Do they *REALLY* send people to pick up recovered mountain bikes and then sell them? Where do they sell them? I suspect this is a ruse.
I'll give you/ Endsleigh 50p for it, thats all i reckon a nicked and recovered bikes worth They told me that the bike was their property (Yeah, I know that, that's why I'm calling you...)
Further to that, they advised me to take it to a bike shop to get it valued (Well, I can't do that because, as you said, it's your property!)
They then stated initially that I could give them back their initial payout to buy the bike back, then conceded that actually I'd just have to pay them current value.
So basically it seems a great deal on their part- I do their leg work and pay them the exact current value? Not on your nelly!
I did enquire what would happen if I didn't do this, they said that they would collect it, I find this highly unlikely.
They are going to ring me in 2 weeks for an "update" despite me clearly saying it won't be released by the Police for some time after then due to an ongoing investigation. They said they'd ring anyway. I suspect this has opened a can of worms!
I'll get a valuation but, to be honest, am not going to be paying the full market value under any circumstances, hopefully if they fail to collect after a while they'll take a lowball offer.
Do they *REALLY* send people to pick up recovered mountain bikes and then sell them? Where do they sell them? I suspect this is a ruse.
scubadude said:
Do you really want your stolen bike back?
Its probably been ridden by the theiving muppet and even if you get it back on the cheap cost a bomb to return to its former glory, frankly that would just upset me, its not like its a rare of unique bike is it?
I'm not too bothered, as far as I can gather it's broadly in the condition as when I lost it. If I can come to a (cheap) deal with the insurance company and either use it as a pub bike or sell it on then it's a nice bonus.Its probably been ridden by the theiving muppet and even if you get it back on the cheap cost a bomb to return to its former glory, frankly that would just upset me, its not like its a rare of unique bike is it?
scubadude said:
Do you really want your stolen bike back?
Its probably been ridden by the theiving muppet and even if you get it back on the cheap cost a bomb to return to its former glory, frankly that would just upset me, its not like its a rare of unique bike is it?
Surely that's where the opportunity lies?Its probably been ridden by the theiving muppet and even if you get it back on the cheap cost a bomb to return to its former glory, frankly that would just upset me, its not like its a rare of unique bike is it?
OP asks friendly LBS to provide a valuation based on the fact that it's been ragged around by some complete toe-rag for the last X months. Friendly LBS provides a market value which takes into account the need to completely overhaul the bike to return it to the pristine condition it was in when it got stolen.
Low price plus justification goes to the insurance company.
OP gets his bike back, and discovers that the toe-rag, for all his failings, was actually a bike lover who has kept the bike in pristine condition.
carreauchompeur said:
Oh definitely. Given I work for the recovering organisation ( ) then I can't do anything remotely dodgy in this case. And wouldn't. There's nothing to say that the insurance have paid out but dishonesty is not my game. I'll speak to the detained property clerks to find out what they normally do in these cases and go from there. Hopefully worst case scenario is a cheeky offer to get the bike back
Bearing in mind your job it might be better to just leave it alone - any other course of action has the potential for being mis-understood. ) then I can't do anything remotely dodgy in this case. And wouldn't. There's nothing to say that the insurance have paid out but dishonesty is not my game. I'll speak to the detained property clerks to find out what they normally do in these cases and go from there. Hopefully worst case scenario is a cheeky offer to get the bike back Be interesting to know what the drill is now - will you be formally asked if it's yours, and if you point to the isurance company will the Police contact them and tell them to collect it? Or do the Police just flog them for buttons as a job lot without doing anything else?
I'd guess that LBS valuation will be somewhere along the lines of CycleScheme. The HMRC guidelines can't have been made up!(http://www.cyclescheme.co.uk/employers/employer-updates/hmrc-update).
Eg:-
(Under 500 bike)(Over 500 is a bit more, via link)
12 months 18%
2 years 12%
3 years 8%
4 years 3%
If the LBS give a proper valuation along those lines, you have done nothing wrong at all. I doubt if the insurance company are in the business of collecting used (wrecked in most cases) bikes.
So you will hopefully get the old bike back for a good price!
If it was me I'd go with the flow..
Eg:-
(Under 500 bike)(Over 500 is a bit more, via link)
12 months 18%
2 years 12%
3 years 8%
4 years 3%
If the LBS give a proper valuation along those lines, you have done nothing wrong at all. I doubt if the insurance company are in the business of collecting used (wrecked in most cases) bikes.
So you will hopefully get the old bike back for a good price!
If it was me I'd go with the flow..
Thanks for the replies folks.
I an acutely aware of the potential for trouble in this instance, hence why I've always been very up-front about the fact that the insurance has paid out (and indeed have explicitly included this in my signed statement).
I'll see what the LBS says- I agree that if it's along the lines of the HMRC valuations then that would be great, but suspect that it won't be, I certainly do not intend to influence them towards an artificially low valuation because again it's a chance for dodginess.
To be honest though I fully expect utter intransigence from the insurance company whatever happens!
I an acutely aware of the potential for trouble in this instance, hence why I've always been very up-front about the fact that the insurance has paid out (and indeed have explicitly included this in my signed statement).
I'll see what the LBS says- I agree that if it's along the lines of the HMRC valuations then that would be great, but suspect that it won't be, I certainly do not intend to influence them towards an artificially low valuation because again it's a chance for dodginess.
To be honest though I fully expect utter intransigence from the insurance company whatever happens!
carreauchompeur said:
What do you mean? I need to be a bit proactive I think!
Sorry I was a bit vague there. I'd play the game, get a couple of valuations. Hopefully along HMRC numbers. If cheap enough then offer to buy. If too expensive then ask them to collect it, but dont make it too easy. Quite honestly I cant see them bothering. I need to be a bit proactive I think!Gassing Station | Pedal Powered | Top of Page | What's New | My Stuff