Background:

A couple of years ago, I got a fantastic deal on a bike from Craigslist. It had one minor mechanical issue that didn’t affect it’s operation much. Otherwise, it didn’t look new but all of it’s components (derailleurs, shifters, etc.) were top-of-the-line. Back in the early 2000’s, this bike cost $770 new. I got it for $60 used.

Present:

A few days ago, my brother was borrowing my bike and I noticed that he was taking a combination lock with a heavy chain. I warned him that the combination lock can be easily broken. He shrugged and left. As you might have guessed, it was stolen. He asked me what he owed me for it, knowing what I had paid and that a similar bike on Craigslist recently sold for $400 (it was in mint condition).

The way I see it is he lost my bike, so he should replace it. I put a lot of time and work into finding a bike in the first place and don’t have the time right now to do that again. I think he should find another one. I’m not expecting him to find a fantastic bike like the one I lucked upon; it doesn’t have to be new, it doesn’t have to be top-of-the-line. It just needs to be the same size and type of bike from a decent brand. Basically, a comparable model.

Am I out of line in asking him to replace the bike? My other brother thinks I’m being spiteful.

When your property is damaged or stolen, are you obligated to accept monetary compensation? It’s hard for me to put a value on the work required to get a bike and I don’t think I’m being unreasonable in asking for a similar (not identical!) replacement.

I’d like to hear some thoughts on this.