It’s been quite a while since I have been pondering upon something and now I would like to have your opinion. The matter is as follows. Last Sunday I lost a mobile which I bought about a year ago for $175. It was my only mobile phone and just because I can’t do without mobile I bought a similar set, however this time the amount I payed was $ 125. Every thing said and done i stand on a similar ground at which i was about an year ago. I have a mobile phone which i had last year as well but I have lost something.
So now, I am wondering what my actual loss is. Is it $175 or $ 125? I lost a mobile worth $175 so my loss should be $175. I used it for one year, it was my asset.Yes in this period of one year mobile phone prices have seen a nose dive but that has nothing to do with what I spent last year.
On the other hand I am having a similar model now but it would have been redundant had I not lost my original mobile, so actual loss what I have incurred is $ 125 so my actual loss should be $ 125 and not $175.
This is the mess I am in right now. I don’t know that what should be the worth of lost item, the value of the lost or the value paid to fill in for the vacuum created by the lost item. Some people suggested that my loss would be $300 But they have to consider the fact that either of them was my asset so how come my losses would account for $ 300. Guys please help.
28.03.08