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.

@OhhhPeee

If everyone on this thread promises to chip in and buy it off you for current market value, will you tell us what the fuck it is?

This made me laugh!!!

A bike?
I reckon there is a compromise position somewhere.
Could she stop you selling your share to a third party for market value?
How come she has possession? Could you get possession if you requested it?

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.

An awful lot of people seem to be ignoring this. The OP’s ex-friend doesn’t want out - in fact, the very reason they fell out is because the OP wanted out. She’s making an offer to buy something she never really wanted to buy.

Let’s say the item cost £500 and is now worth £700. The OP claims her ex-friend can easily afford to buy her half share. Yet XF didn’t buy the half share when it only cost £250 - she went halves with the OP instead. If she’s disgruntled about the OP wanting out as suggested, presumably she was happy to continue owning 50% of whatever this mystery item is. As much as I get why the OP wants full market value for her share, the person she’s selling to doesn’t really want to buy it. If she didn’t want to buy the other 50% for £250, why would she want it for £350?

Is it something that either of you has physical possession of & if so which of you? Do you have receipts/documentation of the purchase & do they confirm joint ownership?

I think OP has flounced off.

I don’t think anyone’s ignoring that @StillCoughingandLaughing it’s just that it’s very difficult to offer advice without a bit more info.

Everyone is pretty much stuck on the first hurdle of knowing what it is: advice for a racehorse is very different to advice for an antique table.

I popped back in here to see if the OP has disclosed what this enigmatic item is!

No one needs to know what the item is to comment, you know it is something really fucking boring so why bother commenting multiple pages asking what it is? The OP owns half of said item and is at liberty to sell her half. Good luck finding a buyer for that OP.

No one needs to know what the item is to comment

Not if your comment is just ‘find a buyer for your half’ (which by the way is not helpful as the OP already stated that the friend specifically wanted to own it outright, also not helpful if it’s not the sort of thing you can easily find a buyer for.)

But the advice does change based on what the item is.

Has it been established it's not a book? A signed 1st edition of Harry potter or something?

Barring any complicating factors, what each of you currently own in money terms is half the current market value. That is what it would cost you to replace it. That is the value of your current entitlement and what anyone should pay you to acquire your interest in it.

Anyone suggesting that what would be due to you is half the original rate is awarding your friend 100% of the profit for no good reason (based on the information we have).

Under that logic she could pay you half the original investment (a few hundred pounds) and then sell the whole thing on the next day for full market rate and keep the thousands she would make which is clearly crackers. Noone here would accept that if they bought a house, lottery ticket or bank investment with someone else - it seems they are just getting confused because they're picturing the item as 'goods' and are struggling to get their heads round the fact the principles are exactly the same.

So it sounds like half the market value is your right. However. The next step it to decide how much it's 'worth' to you in terms of personal stress to enforce that right. If it's water off a duck's back to insist and get proper legal advice and take it all the way to court, then go for it. Otherwise decide (privately) at what point it stops being 'worth it' to you and take it exactly that far to see if you can knock done sense into your ex-friend without costing you your sanity.

Standard MN thread, I want your opinion on this but I'm not going to give you all the information so you can give an opinion

@TitianaTitsling

Has it been established it's not a book? A signed 1st edition of Harry potter or something?

Not sure if that will be going up in value at the moment

When you say you also offered to buy her out, and have sole ownership, what value did you offer her?

Context is everything here. If it's a sort of thing where you could force a sale then expecting market value minus perhaps 10% is fair. If it's something where you selling so quickly is unreasonable in its self, accepting the cost price seems fair

It’s a panda.

Either she buys it at current value or you sell to someone else and she has a different partner...that’s business

You wouldn’t buy a house then 10 years later only sell it for what you paid for it

My advice to you as sell it properly ie solicitor

I think she is being very unfair. Just say you want to sell it outright for market value.

The value of the item is the market value.

I don't understand why anyone would think you should sell anything for less than the market value. If it had depreciated would it still be right to try and make XF pay the original price?

BUT. It's only the market value if someone is willing to pay it. If the only buyer is the XF then the market value of your share is what the XF will pay. Your choice is sell it or keep it.
If there is another buyer for your half then you have a third choice of seeking your half to them.
Worth remembering half of anything is rarely worth half of owning something outright though.

I do hope you drew up a contract at the start and that included what would happen if one of you wanted to walk away

If you didn’t then that was a tad daft wasn’t it ?

Ultimately you need to weigh up the hassle of being in this 'partnership.' What's the difference between the cost you paid at the start and what you think it is worth now?
Is this sum of money worth all this grief? If it is stay in the partnership but draw up an agreement on ways of working or sell it to a third party.
Knowing what the asset is would be helpful for context

If you want out I suggest you buy her out for what she offered you. Then if you still don't want it sell it on.

OP just tell us something it is similar too so there is some context - is it something collectable such as a rare first edition book, banknote etc

Or a vintage vehicle.

Otherwise there is no point posters speculating.

Is it a statue of someone who ISN'T a slave trader?

If she has no intention of selling it on then I think she should buy you out for half the original price. It's not her fault it's gone up or that you want out.