HELP Need some major Legal advice

[Diana M]

Re: HELP Need some major Legal advice

I have taken a photograph of the LBA how do I post it here?

It may be wise to hold fire on that and not post it in public until things are clearer. Even a redacted copy may not protect your identity since this is an unusual/peculiar set of circumstances.

It would be a pity to spoil any chances of settling this issue without the need to go to court and incur legal fees.

Di

[Diana M]

Re: HELP Need some major Legal advice

because of the value of the rings (£12,959.00)

What evidence do you have that the rings are/were worth nearly £13k?

Do you have a formal valuation from a jeweller?

What was the reserve price in the auction catalogue (do you have that)?

Di

[Rosie10]

Re: HELP Need some major Legal advice

Diana, the Auction house is called xxxxxx Auctions but when I did the original posting I stated a London Auction house.

[Rosie10]

Re: HELP Need some major Legal advice

They asked me before Christmas to get an uptodate valuation. Luckily the rings were made for me (many years ago) but the very reputable family business is still in business. They were able to go back through their books and find the original receipts. They then got their workshop to work out an uptodate valuation.

[Diana M]

Re: HELP Need some major Legal advice

the rings were made for me (many years ago) but the very reputable family business is still in business. They were able to go back through their books and find the original receipts. They then got their workshop to work out an uptodate valuation.

So you've got evidence of their current value

If the Auction house has a website you can usually see/download their previous catalogues/Lots etc. Maybe there'll be one with your rings (photographs etc) in it.

Di

[Rosie10]

Re: HELP Need some major Legal advice

The reserve price was very low as recommended by the man who took them in. He stated I would need to set it low to get any interest but because of who made them (she is very well known in the area i live) and the quality of the diamonds I would get far in excess of this. I know I was stupid to believe him!! The reserve prices were £800 and £1500.

- - - Updated - - -

I have very good photographs.

[Rosie10]

Re: HELP Need some major Legal advice

Yes i have cast iron proof of their current value.

[des8]

Re: HELP Need some major Legal advice

THeir T&Cs are available on line

Clause entitled "Warranty" makes interesting reading!

Warranty: The Agent covers lots against fire and water damage. Theft and accidental damage must be covered by the Vendor at a rate of 1% + VAT of the reserve. If the Vendor wishes to have a higher level of cover, then this must be agreed in writing with the Agent.


The majority of household policies (including All Risks out of the home, Personal Possessions, personal effects .. different names by different insurers) specifically exclude items removed from the house for sale,

[Rosie10]

Re: HELP Need some major Legal advice

Diana, all posting edited thank you

[Rosie10]

Re: HELP Need some major Legal advice

des8 You know more than me, I guess this is bad news for me? When I think what was said to me when I took the rings in and the fact that no paperwork was given to me until just before I left. They must have seen me coming!!

[Rosie10]

Re: HELP Need some major Legal advice

How do i give Thanks

[des8]

Re: HELP Need some major Legal advice

Not necessarily good news, but as @Diana M pointed out they have already admitted liability.
Just have to push them to increase their offer.
At this stage I doubt they have even advised their liability insurers as they will hope to settle at a figure below their policy excess.
Just wait for Diana's next input!

[Rosie10]

Re: HELP Need some major Legal advice

Any advice would still be greatly appreciated, not sure were to go from here.

[Diana M]

Re: HELP Need some major Legal advice

They asked me before Christmas to get an uptodate valuation. Luckily the rings were made for me (many years ago) but the very reputable family business is still in business. They were able to go back through their books and find the original receipts. They then got their workshop to work out an uptodate valuation.

Can you just clarify something.

Did the auction house ask you to get the up-to-date valuations and did you supply them with those?

Check any insurance polices you may have (such as buildings, contents or motor insurance) to see if they include Legal Expenses cover. If so this may fund you to have legal representation to issue court proceedings against the auction house.

What I've been doing is helping you to get all your ducks in a row before you go on the attack.

Di

[des8]

Re: HELP Need some major Legal advice

Quite frankly I'm not sure you can do much other than accept the offer of £2300 that the auction house made.
That was the total of the reserve prices put on the items, and I recall (haven't checked back) that this is what their T&Cs offer as compensation for loss of items.
The basis for this is that you were prepared to sell at this minimum figure, The items failed to sell at even this amount, and so this is your loss.

If you want to proceed with court action you should perhaps consider keeping your claim below £10,000.
In the event of your losing you would not have to pay the other sides costs.
If your claim is over £10000 and you lose you will have to meet the other sides costs, and as they will be employing solicitors and possibly even barristers these costs could be substantial.
Also, if the other side know they will not be able to recoup their costs they might be prepared to negotiate an improved offer.

See what @Diana M has to suggest


OOps see Diana has beaten my slow brain and slower fingers!!