whats the current value of a 2 year old telly? - Tesco out of warranty settlement

elliottjessica1987

I bought a 42' TV 2 years ago from Tesco for £500. It has recently died. Having contact Tesco as it has not lasted a resonable length of time, they assessed the situation and are due to send a cheque for the 'current value' but are unable to tell me this over the phone. - How on earth do you calculate the current value of a TV 2 years after its been purchased? The reason I ask is that I want to be able to have some knowledge for when their offer arrives to ensure that I get a fair price.

does anyone have a calculation for such a problem?

many thanks, and sorry if I missed an existing post.

crazyguy

Between 33 and 50% of the original price paid would seem fair,

shaun_from_Africa

Probably the easiest way to work it out is to consider that a SOGA claim can be raised up to 6 years from the date of purchase and I would certainly expect a reasonably expensive TV to last this long.

Going by this, your TV lasted 1/3 (2 years) of this period, so I would say that you are entitled to 2/3 of your payment back which is £333.

agrinnall

It'll be interesting to see what Tesco do eventually pay but I have my suspicions that it'll be closer to the bottom of crazyguy's range than to Shaun's figure. If I was a betting man I'd have a small wager on £200.

shaun_from_Africa

I agree that Tesco will probably go for a low figure, but the OP may be able to get them to increase their offer a bit if they can give a reasonable argument for it.

bod1467

The flip side of this is that there's not usually a linear relationship between depreciation (loss of value) and time ...it's more inverse exponential, meaning you might lose 40% of the value in the first year, 20% in the 2nd year, 10% in the 3rd year etc. On this basis £200 would be the expected offer I would guess.

System

Perhaps Tesco are taking the p1ss, technically the current value of a broken 2 year old TV is probably nothing :-)

somethingcorporate

The 6 year old thing is hogwash and just because a claim can be raised in this time is completely irrelevant when considering the lifetime of a product. I wouldn't expect a 50p ice-cream to have this length lifetime nor a £100,000 car so why do people insist on using this for any kind of basis? It is completely inappropriate and should is dependant upon price, quality and the nature of the product.

For a TV that cost £500 for a 42" I would expect a lifetime of 4-5 years so ~£250 (or £50 either side) sounds about right.

bobajob_1966

bod1467 wrote: »

The flip side of this is that there's not usually a linear relationship between depreciation (loss of value) and time ...it's more inverse exponential, meaning you might lose 40% of the value in the first year, 20% in the 2nd year, 10% in the 3rd year etc. On this basis £200 would be the expected offer I would guess.

Yep, this is the method Tesco use - they do this with all out of warranty products, and the offers I have seen are fair (and non negotiable).

elliottjessica1987

Thanks everybody, i'll post the actually price when I receive it (12-14 days time) - good for us all to know

fluffnutter

Have you considered a replacement instead? Perhaps they'll give you another 42" telly? That might be a better deal.