Hong Kong Case Law: Decisions & Judgments | LexChat

Hong Kong Case Law

Market valuation of goods
  • 14 May 2003

    CHAN PING KUEN v. NGO WAI KWONG AND ANOTHER

    Citation
    CHAN PING KUEN v. NGO WAI KWONG AND ANOTHER
    Court
    District Court
    Case number
    DCCJ3016/2002

    On the totality of evidence including comparable quotations, vehicle age, mileage, use for carrying wet goods, condition and expert evidence, the court assessed the pre-accident market value at HK$25,000, awarded that sum plus the agreed ancillary fees of HK$2,140.50, and ordered interest from the date of the accident and costs to be awarded (order nisi). The court preferred an objective synthesis of market quotations over unsubstantiated application of foreign guideline rates or unsupported depreciation assumptions.