To want more money from my ex friend?

[Othering]

Me and a friend bought something together, 50:50. We both paid several hundred pounds each. Exactly a year later, I wanted out. Friend (now an ex friend cos shes disgruntled that I wanted out) said she will buy me out, paying the original price back to me. Trouble is, the asset is now worth several thousand pounds. It has appreciated significantly. Aibu to think she should pay me half the current market value? She can very easily afford it BTW.

@mrsbyers

Interesting you suddenly starting calling her a bully when people responded saying she was acting reasonably - just take back your initial stake or kelp the asset

Eh? I've just said she's NOT a bully.

Why do you want out?

I can understand from her point of view that only a year after investing in the 'thing' it would be very annoyingto have to suddenly find a large sum of money to pay out the other person

If you know she is not someone who will willingly agree to pay the higher price then I'd be inclined to hold on to my 50% stake for now (especially if there is a good chance that the value will keep going up)

Is it gold?
I think you’re reneging on original deal by wanting to sell, or are you trying to lock in your gains? I think just stick to getting half of original price back.

It is hard to advise without having some idea what the item is.

You say it has gone up in price are you comparing it to a new item, your item is now second hand.

Is it a pet? If so costs have gone up because of Covid and will crash down very quickly.

Paying the half you've originally paid would be more than reasonable.

If it's jewelry, you might have more of a point, although odd to buy and 'share'.

I'm wondering if it's a horse too! I cannot think of anything else that you'd buy with a friend that would appreciate in value to such an extent in one year?

On the basis that you want to sell and she doesn't I think you'r just going to have to settle for your original outlay back.

I think I’d be happy with the original amount.

Whichever of you buys the other out pays market value.

Or you sell it and split the sale price.

@SunbathingDragon

Just sell your half to somebody else. Although bear in mind it’s only as valuable as someone is prepared to pay.

She wants to buy it and own it 100%.

@Othering

I won't say what the item is as its too specific but its not a horse or a painting.

She's not a bully but she's totally used to getting her own way.

Vague category?

Was it bought with the intention of it going up?

With the intention of you both actively using it (sporting equipment)?

A painting?

If it wasnt bought for investment then surely you were only ever expecting to lose money on this item,

@purplecorkheart

It is hard to advise without having some idea what the item is.

You say it has gone up in price are you comparing it to a new item, your item is now second hand.

It's not 2nd hand being compared to new prices. It's just appreciated significantly. Not related to cv19 either. Its not any kind of animal.

She wants to buy it and own it 100%.

Then tell her you are selling it on the open market for half it’s value and it’s up to her to bid and complete the purchase in the usual way or else you’ll accept offers from other people. 🤷🏻‍♀️

Is it something she’ll continue to earn money from? Like a coffee van or something?

Really interesting to get everyones views. Seems the majority are saying original rate is fair, which is helping me to get some perspective.

@SunbathingDragon

She wants to buy it and own it 100%.

Then tell her you are selling it on the open market for half it’s value and it’s up to her to bid and complete the purchase in the usual way or else you’ll accept offers from other people. 🤷🏻‍♀️

I can't though really can I. We own 50% each, so I can't just force this through. She also currently has possession of the item, which makes it even trickier.

I think it's hard to say without more information.
Would she have bought it on her own if you hadn't paid half?
Does the item incur upkeep or maintenance costs?
Do you have a contract or written proof of shared ownership?
Will the item continue to appreciate?

@RedRed9

Is it something she’ll continue to earn money from? Like a coffee van or something?

No.

Have you got the item officially valued?

I actually don’t think YABU. You should have discussed what would happen before you bought it but it’s done now. I’d probably be pushing to sell it all to a third party if she’s not prepared to pay market value.

I disagree with everyone else. You bought it together and therefore you should both benefit from the increased value.
I bought my house off my ex, he was entitled to have the current value not what we paid for it. Despite the fact he hadn’t paid anywhere near 50:50 for it.
If she wants it she can pay you half the current value of it. Otherwise hang onto it.

Is it a handbag??

Too difficult to say when there isn't any information on what it is.

You should be entitled to half of the items current market value. If your friend wants to own the item 100% then she will have to pay you what it is currently worth. Not what it was worth last year 🤷‍♀️🤷‍♀️

If the value had decreased would you accept the current market value or do you only want market value as it’s increased?

She should pay market value. If she then went on and sold it she would no doubt expect to sell it for what it is now worth, not what she, and you, originally paid.