If an item is appraised for a range of values instead of an exact value, for what value do I sue?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If an item is appraised for a range of values instead of an exact value, for what value do I sue?
I have to file a civil complaint against someone I know for something I purchased that he refuses to return. I had the item appraised so I can properly fill out the legal form. I was given a range of values, so what do I list as the value of the item? (Note: I actually just want the item itself returned, but the form asks for the value.) Should I list the amount that I paid? The amount the seller was asking? (I bargained him down hundreds of dollars.) The lower value of the appraised range? The higher value of the appraised range?
Asked on September 7, 2010 under Bankruptcy Law, Virginia
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
There is a saying that an item is worth only what a person will actually pay for it. Even if you list an item for an appraised value - often a range depending on what the economy will bear - what you ultimately sell it for is the only real basis you have to establish true value. If he were suing you because of a problem with the item and wanted his money back he could not use the appraised value, could he? He could only use the amount he actually paid for the item (and maybe court fees and shipping fees). So I would use the amount paid. Be careful where you sue (I mean in what court). Some courts do not have the power to grant equitable relief only monetary relief. Good luck.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.