To try and cut a long story short i lent my Stiffee frame (plus thomson post & hope clamp) to a mate who built it up but the bike was stolen from his shed.

The issue is what's a fair settlement?

The facts are he has a new for old policy which has paid out and i know the replacement costs would be getting on for £600.

But…. I bought the frame second hand with a cross threaded BB for £100 and it cost me £50 to have it repaired so my outlay was £150.

My friend has given me £250 which on the one hand is the market value of the frame but is not enough to replace it,

So what do you think would be fair

I'm totally undecided and am happy to throw it out to the STW lobster court

ta

A reach around and a case of Stella.

50/50 would have been a nice split on his part but youve not done bad out of it. how much of a mate is he lol

you got £100 more than you paid, which is good.
but youj are without the frame and the amount you have will not buy another stiffee.

get a 456 and gouranga.

You lent him a second hand Stiffee frame and seat post and clamp.

He gives you back a second hand Stiffee frame and seat post and clamp (and some beer).

Any profit he gets from the insurance transaction stay away from – insurance companies get a bit grumpy about this kind of thing…

Money is not the issue. He should replace the bike. But do not let your friendship suffer over it. I'm owed for a bike sold to a mate's wife over a year ago. It annoys me but friendship is priceless

Yes he's a very good friend and this won't affect that but i do feel a bit hard done by as i can't afford to replace the frame for a similar one.
( i've since bought a 456!)

456 is better than a stiffee (well unless its a pink stiffee v a pink 456)

I'm guessing you haven't had both mick?

My friend has given me £250 which on the one hand is the market value of the frame but is not enough to replace it

What is the value of a cross-threaded stiffee frame?

Personally, I think you've done well.
And it's also his insurance premiums that are going to go up as a result of his claim.

lol no ive not had a pink stiffee. tbh if you get back more than youve paid then happy days i know its a bit of a pi55er but you could have ended up with nowt . and i think the 456 is a great bike anyways i know it may not be as fancy as a stiffee but if you were that bothered about the frame it would be sat in your shed rather than being kindly lent to your mate i think youve looked after him and hes looked after you

tbh if he could afford to replace you stiffee he would have been riding his own already . at least hes not now riding around on a brand new one lol this babbling is due to a large intake of guinness so my not be completely true 😉

i think youve both done ok out of it , perhaps your mate more so but hes still your mate after it all 😉

You lent him a second hand Stiffee frame and seat post and clamp.

He gives you back a second hand Stiffee frame and seat post and clamp (and some beer).

Thats my view

Lend a mate something – usual rules apply – bend it and mend it – or in this case replace it.

Yeh i know on the face of it if someone would've offered me £250 for the frame i probably would have taken it and i could 'replace' it like for like with that money but i'm still left a bit peeved that i'm without a frame and he's made a couple of hundred quid on this?

did he build the bike up with bits he had? Then he needs to be compensated for that as well – he has a loss.

Can you get another frame for the £250? If not how much to get a frame?

Also does he read this forum?

Nothing worse than the old I am not speaking to you after what you said on the internet sulk between friends. Actually there is but that usually involves a different kind of riding. And you wouldn't keep that in the shed. Unless she was a munter. Then you may not be bothered?

Yes he built the frame up with his bits but he's claimed for those as well so i don't think thats an issue.

He does come on here and and i'm sure he'd be laughing at me now, if he hasn't seen this i'll tell him, i'm just interested as to what other people would think is reasonable

Are you saying then he got £600 for your fram4e and more for his bits on it?

if so he owes you a damn sight more than £250. YOu should not end with less than you started off with – so he should get you a frame and seatpost or give you they money to get one.

find 3 frames and seatposts on ebay that are similar and take the average? or he buys you one.

are you happy with the situation as is ? im guessing not as your posting this. if not tell him

TJ, i don't know the exact settlement, he hasn't told me but it's a new for old policy so i'm guessing he;s put in a claim for the full amount?

Well no i'm not overly happy and don't worry i'm not saying anything on here i haven't said to my friend but i just wanted a general opinion.

if it was me i would be looking to replace the frame for you.
if i had made extra dosh on it i would hope to get you a better one than the one you had.simple as that for me.

Sounds like you have done alright out of it to me.

the crucks of it for me is that he's gained a couple of hundred quid from me lending him a frame (out of the goodness of my heart 🙂 and i don't seem to have profited at all, i think it would've been fair to split whatever was made over and above the 'true'value of the frame

You've made £100 surely?

As said you would have accepted £250 for the frame, plus he has to pay higher premiums, sort out all the hassle of the claim, and deal with the upset of a break-in.

he's gained a couple of hundred quid from me lending him a frame … i don't seem to have profited at all

Hes defrauded an insurance company and this may in the future bite him in the arse. Or may not – its not a risk I would take though…

I dont think you should profit in anyway and thats the wrong attitude to have. You shouldn't be out of pocket either.

I guess it comes down to:
1. Do you like your 456 frame and seat post and clamp?
2. Would you have swapped them for your Stiffee?
3. Did you buy them with the money from said mate?

If yes to all three then you have not lost out.

If no to any of them then approach your mate.

In cash terms you did well, but if you are still bitter, smash his face in.

edit – I've had a drink and I think the women doing the press up in the fitness singles ad is giving me the horn, my testosterone is running wild 🙂

In his position I would have told you what I claimed for, and what they gave me – and then asked you what you wanted.

And from what you've said, you wouldn't have asked for the aformentioned £600 – but probably £250.

Which is what you got – but this way we'd both have been happy.

TBH me and my riding buddys have a simple answer to anything borrowed/lent – if broken or stolen, replace like-for-like unless the lender says otherwise.

if he has got back new for old on the whole lot. def buy you a new stiff. thats what i would do if i was him, without a second thought. sorry but hes taking the piss.

im my mind he should have bought you a new stiffee frame and given it to you
thats what i would have done without a second thought, hes made money from the claim with the bits hes claimed for

The way I would see it, if it was me.
The terms of his policy are irrelevant, that's his business, he chose the policy, he's been paying the premiums for that policy. Having been paid out tho, he should replace your frame and parts to a same or better condition or give you the money he got from the insurance, whichever is the most cost effective for him (obviously, that would be to replace the frame, because of the type of policy he chose to have and pay for).

Equally, what you paid for the frame originally, is irrelevent, he.s been paid out, he should replace your loss, like for like, at no extra cost to you.

Your mate gave you £100 quid on top of what you paid, wasn't even new when you had it imo he's seen you alright.

Take the stolen out of it – if you loaned him your bike/car/wife and he sold it/her would you accept less than he got for it/her?

I think he should have given you all that he got for the frame, less a bit for the amount his premium will rise by because he has made a claim. That way he has made no profit/loss out of the experience and you are sorted out.

thanks for all the replies good to see all the different points of view but most seem to be on one particular side of the fence!

In answer to a couple of posts i've had maybe £50 max on top of what i paid when you factor in the thomson post and hope clamp but i'm still well short of being able to replace like for like even hoping for ebay bargains.

Also there has in no way been any defrauding of the insurance company as he has a new for old policy.

Oh and for the record there's no comparison between a Stiffee and a 456.

He should have either:

Replaced the frame with a new one.
Replaced it with something of a similar new value that you are happy with.
Given you the settlement ££s to enable you to source a frame of your choice.

Doesn't matter how much the frame cost you.Replacing it is the issue.

He shouldn't be up financially on the insurance payout.He should just do the right thing.

If I lent any of my bikes to anyone [which I wouldn't] then I would absolutely say to them beforehand
"anything happens to it I want full replacement value toot sweet" no waiting for insurance company to cough up!

The money isnt the important thing here is it? Its the actual product. If I let a friend borrow a frame I'd epect a frame back, not some paper 😀

How can £250 be the market value of the frame but not enough to replace it? you shouldn't be expecting a brand new frame out of the episode & you are already £100 up on the deal…..
He should either give you enough money to replace what he borrowed or replace what he borrowed – if he makes or looses money is his business & irelevant.

I think you got a very good deal.