Recovered bike but took insurance money. What now?

[Happiness Stan]

Had a bike stolen about 7 years ago. Insurance coughed up but lo' guess what trundled into my bike shop today? Yup my bike. The guy who had it was cool and said he bought it at a police auction about a year ago and I believe him. I just wondered if I can do anything to get my bike back? I appreciate that once the insurance is paid then the bike is theirs. But why was it being sold at a police auction? I don't think I have a leg to stand on but it doesn't seem right that I wasn't contacted about my pride and joy and given the option to buy it back. Anyone out there who could tell me where I stand?

 

[Paul99]

You are right that once the insurance has paid out that the bike is theirs. Have you taken possession of it? If you have then you need to contact the insurance company and tell them. They may not want it back, they also may know that it was sold at the police auction.

If you haven't got possession of it my advice would be to enjoy the bike you got with your insurance money and forget about it.

 

[Happiness Stan]

I haven't got possession. I couldn't really stop him leaving shop with it and I conceded defeat when I realised that he probably had a valid claim to it while I didnt. It just pained me to see it after all these years and then to see it go again. I even did a quick repair for him free of charge!

 

[shouldbeinbed]

offer to buy it off him if he comes back again?

 

[ufkacbln]

Many years ago now, but we were involved in a similar case.

My mother bought a bike from a reputable bike shop, who had obtained it from the local Police after it had not been claimed.

Then one day in town she was accused of having stolen it, the Police were called and the bike was taken into "custody"

Eventually the Police investigations were completed and decided that my Mother was the innocent party, the bike shop had done nothing wrong, and neithe rhad the Police, as in this case the bike theft had not been reported.

The end decision was that my Mother kept the bike.