My stolen bike on eBay recovered and returned

pilsburypie

November 2010 my ex8 was nicked off my car on my drive. Reported to police and crime number issued. Insurance paid out and a Zesty purchased.

Out of interest I keep an eye out on eBay. 3 days ago spot what looks like my bike on eBay 3 miles from my house. Try to arrange a meet but the chap is a bit cagey so I call the cops to report my findings. They came round next day, took details and said they would find out where it was and check frame number. 10am today get a phone call to say they have my bike and the bloke in custody. 2pm they bring my bike back and inform me they have also arrested another bloke! Result!

So, what do I do with the bike? Is it the insurance companies? Do I need to inform them? Although they paid out I am out of pocket £300 for the excess and £100 getting the scratches fixed on my car that the thief caused robbing the bike.

Just chugged some thieving w4nker has got his come uppance!

mattyboy199

keep it to yourself & wait for the insurance to contact you

nicklouse

the recovered bike is the insurances.

they may let you buy back cheap. but do contact them.

HebdenBiker

Good result.

Yes you should contact the insurance, but it would be a p1sser if they reversed their payout.

As for your excess and damage to the car, pursue a civil claim against the pikey, now you know who he is.

unixnerd

I'd tell the insurance, it's nice to be honest - gives you a warm feeling inside :-) They're unlikely to be interested in the old bike but may be hacked off if they find out from other sources.

The good news is that you now have someone to sue for your other losses such as the excess and scrathes, your insurance policy may have legal cover to allow this. When someone hit my car I had a 400 quid excess, one letter from the insurers legal dept and the other party paid the 400. The money left left my wallet so to speak.

pilsburypie

They can't really reverse the claim. I have the new bike which is now used and 2nd hand. What about my premiums too? Bet they won't go back down now the bike is recovered.

I have the devil on one shoulder saying I'm £400 and sky high premiums out of pocket. Sell the bike and be done with it. The more sensible side of me says tell the insurers, I've still got a decent bike and the last thing I want is a crimmo record for insurance fraud!

Think the thing to do is tell them tomorrow.

trasher

Top result in getting it back and the thieving scum have been caught,saves someone else's bike being nicked :twisted:.
Lock em up and throw away the key i say :x

HebdenBiker

Nice one - I think you're doing the right thing.

As for your £400 - as I say - sue him.

pilsburypie

With regards to civil claim, the cops said the bloke that had the bike gave them an address of who he bought it off. That was the 2nd person they nicked. But, they said he would almost certainly say he bought it off someone else..... somewhere down the line it will end up as a buying it off a bloke in the park for £20.

My point being they can't say for sure who nicked the bike, just do them for handling stolen property. So who could I sue for damaging my car?

unixnerd

My point being they can't say for sure who nicked the bike, just do them for handling stolen property. So who could I sue for damaging my car?

Maybe see what your insurers legal dept says about that.

MountainMonster

I'd definitely let them know. You may have the option to buy the bike back at a stupidly low price, and could make all your money back plus a bit of extra for selling the bike if you choose not to keep it.

sheepsteeth

im sure the recovered object now belongs to your insurer, surely not informing them that it is returned makes you a thief?

depending on how you view the world of course.

my conscience wouldnt let me keep the recovered bike without the permission of the insurer.

angry_bird

Inform your insurer, see what they say.

supafly1982

i would like to keep it if it were me, but i know i would have that little voice niggling at the back of my head telling me to contact the insurance companies.....so i tell her to shut up!

honestly though, if its going to niggle away at you just contact the insurers or you wont enjoy the bike as the wrong doing will be hanging over your head.

pilsburypie

Cheers for your thoughts. I have an overdraft that would be cleared by not telling the insurer and just selling the bike, but something tells me karma would land me in the doodoo. I think I shall tell the insurer and hope that honesty is the best policy and they ask me to dispose of the bike as they don't want the hassle :roll:

So advice to anyone with nice bikes nicked. Keep looking on ebay. My bike has been lying low for 3 months and has reared it's head. Tell the Police and hopefully they will do a good job. I must say, I was really impressed with them even though it was handed to them on a plate.

cooldad

Let them know as it's their property, and you are a fine upstanding citizen.
Your payout can't be reversed as it's settled, that's why the recovered property is theirs.
Ask them for a settlement figure to let you keep the salvage, as that's what it is now. Chances are it will be low, especially as it saves them the bother of having to arrange to pick it up.

tsenior

my insurer told me that they would seek to recover their costs form the criminal and that i wouod get to keep the bike anyway.

gasgas

if they wont let you buy it from them, charge them storage charges of £50 a day until they collect it! :twisted:

spongtastic

Inform your insurer, for bike & car, make sure they put a note on file.

If you don't let them know next time you have something nicked they could contact the Police. This may invalidate your insurance totally leaving you more than £400 out of pocket.

Shotsaway

Pilsburypie that is good news. I remember when you posted that it had been stolen. From memory you decided to get lunch before getting the bike off the car!

The insurers paid you in full and finally settlement. If the stolen items are then recovered at a later date, they now belong to the insurance company. You need to contact them to advise that the police have recovered the bike and that it has been returned to you. The insurance company will want to recover something from the bike and the easiest option is to sell it to you. This would probably be a nominal amount of a couple of £100's. If the amount is more than you want to pay, get them to come and collect it. I had a car stolen in 1992 and they insurance company paid out £1500. Six months later the car was recovered (It was a wreck) and the insurance company told me that I could buy it off them for £500. I politely declined their offer and they then scrapped the car.

The other thing to consider is as to whether the bike is recorded on an insurance stolen database. Only the insurance company would be able to get it removed from the database. The last thing you want is the insurance company to find out that you have sold the stolen bike. In their eyes that will be classed as insurance fraud. You would then find it very difficult to get insurance in the future and if you did your premiums would be through the roof.

Come clean to them. Hope they let you buy it off them for a minimal amount. Get them to remove from it any stolen databases and then sell it for a nice profit! Or keep it as your other bike.

Zziplex

Great news the scumbags were eventually caught

UncleMonty

Great news, as someone has already said ask for a settlement figure, and when they give you one haggle - make sure they know you are well out of pocket.

What does and insurance company want with a bike, they have already wriiten this off so it's just extra hassle for them, they might just do the decent thing and give you a good price.

blablablacksheep

good person:

Reports to insurance and they will most likely either do following:

1: ask for their bike back(evil)
2: ask for bike back but will give you "compensation" ie covering cost of the problem, most likely around 1/4 of the value of the bike they sent you.

Be naughty person

Dont report to insurance and wait for them to contact you. outcomes:

1: the police WILL most likely get in contact with them when they take the person to court and need information which they will collect from insurance company thus they WILL find out, that your bike been recovered.

2: If you sell your old bike, insurance fruad, simple as that,

3: if you sell your new bike, "insurance one" like many ebay sellers do, this also risky area as it also fruading the insurance company but is a tricky legal area, most likley means getting insurance for bike later on/ renew will be a LOT more exspencive.


personally...let them know what has happened see what they say then play it from their....end of the day your bike is back and the out of pocket money you lost can be reclaimed though police via small claims court(pain in arse but is the right thing)

captainfly

Do the right thing and inform the insurance company for your own good. but what are an insurance company going to want with as bike (if the cops haven't done a condition report) that is missing a drivetrain and rear shock :roll: and remember any offer they give you to buy it back can be counter offered. It was genuinly stolen, your premiums and excess have gone up etc.. they won't be botherd and it will probably be more than hat they could get at aution,

getonyourbike

I'm glad you got it back, but tell your insurance company and see what they say

Hawmaw

blablablacksheep wrote:

good person:

1: the police WILL most likely get in contact with them when they take the person to court and need information which they will collect from insurance company thus they WILL find out, that your bike been recovered.

Never known the police to ask insurance companies for information for court purposes.
It has nothing to do with the criminal case.

You will likely be cited as a witness and if a compensation order is requested by the Crown then you'll have to disclose that you've been settled up.

I really don't see the insurance company asking for the bike back. They have to go to the trouble collecting it from you and moving it on which is more trouble than it's worth.

pilsburypie

Just phoned the insurance company. The chap had to go away and find out what to do as he said "this may suprise you because we are a very large insurance company, but this sort of thing very rarely happens, whether because nothing is ever recovered or people aren't as honest as you". Someone mentioned doing the right thing will give me a warm fuzzy feeling. I can assure you it hasn't.

They said they will call me back later to arrange collection of the recovered bike. I asked if they would consider a settlement figure and he will enquire.

To me it looks like they would never have found out and never even bothered checking as they don't ever expect to recover anything. Does anyone have a time machine?..... I only need to rewind 5 minutes....... the othe 30 minutes was spent in the automated queue. :roll:

Anyhow, I'm £400 out of pocket, higher insurance premiums and a scratched car...... but, someone hasn't profited from the theft......

dodgy

pilsburypie wrote:

They said they will call me back later to arrange collection of the recovered bike.

Wait until this bit happens before you get too depressed

pilsburypie

They called back, said they wanted £650 for the bike, I offered £500 and they agreed. So, I am hoping (and feel) they bike could be sold for around £900 as apart from a few minor wear and tear scratches caused by me riding, the bike is in good nick and well looked after.

In the end I could get back my outlay if I can get that price for it and have a clear concience.... huuuugh!

dodgy

I'd have offered a lot less than that (even though I haven't seen the bike), insurance companies are still pretty much clueless when it comes to bikes. I'd have said £100 "but it's in a pretty bad state".

Stoo61

Well when you decide to sell I might want it.