"Repossession" in Germany

[Araksardet]

Keep in mind, this is all happening in Germany.

So a couple of stupid decisions (which I'd rather not get into) on our part have lead us to owe a few thousand euros in damages that we are unable (and our poorly-chosen insurance unwilling) to pay with money. However, we have quite a few valuables in our possession that, if you were to value them near their original purchase value (like within 75% of it), would total up to more than the value of the damages. I'm talking computers, televisions, furniture and other large appliances.

We want to somehow have the damaged party "repossess" some or all these items (I know repossession isn't the exact term, but you get my drift), as that would allow us to survive financially with just enough money in the bank for rent and other monthly bills; otherwise, even emptying our accounts won't cover the damages (we are students living on the edge; the appliances in question were all gifts from parents). As far as I'm aware, there are professionals who's job it is to value your possessions and then take them from you, but I don't know what they're called or how they work in Germany. Can anyone give us some advice on whether this sort of thing can be done, and how?

Captcha: "top drawer". Nope, Captcha, no money hidden there.

 

[StBishop]

Pawn shops?

It's an option I guess. Yard sales work too.

 

[TheCaptain]

As far as I know there are auctioneers that specialize in stuff like that, but making used household appliances, furniture and electronics into money will probably net you quite some loss over their original value. No chance of the aformentioned parents helping you out and letting you pay them back when you're doing better?

 

[Araksardet]

As far as I know there are auctioneers that specialize in stuff like that, but making used household appliances, furniture and electronics into money will probably net you quite some loss over their original value. No chance of the aformentioned parents helping you out and letting you pay them back when you're doing better?

There is the option of getting the parents involved, of course, but we'd rather be separated from expensive things we don't really need (we barely use the 700? TV that was practically dumped on us) than cause financial hardship on family through our own lack of caution.

Losing the original value wouldn't be so terrible - if we scrounge together all our valuables, even at 50% of the original value, we'd have the costs almost completely covered. We were planning on moving in two months anyways, so we'd lose/have to sell lots of the stuff either way; no great tragedy. Even if it's not enough and we only get 20% of the value back, it would soften the blow.

I wasn't aware that this was a specialty for some auctioneers, I'll see if I can discover more on that front.

 

[Exterminas]

I am from germany.
We have this kind of thing here, but it is only intended for people who are unable to pay, not for those that are unwilling to, since they want to meet their monthly end.
http://de.wikipedia.org/wiki/Zwangsvollstreckungsrecht_%28Deutschland%29

Even if you managed to get them to reposess your goods, I would not advise doing so, because the goods get auctioneered at special auctions, not taken for a fixed value. Better just sell the things in person, since that will also save you all the fees.

If money is that dire, you can also declare Privatinsolvenz, which means you tell the state that you are unable to pay your debts. This will make the state pay the money you owe, in exchance for a promise of paying part of it back in a certain amount of time. (And other grave disadvantages, should you ever come to money again)

http://de.wikipedia.org/wiki/Privatinsolvenz

But guessing from your phrasing, you are not a german citizen, which probably means most of the stuff doesn't apply to you.

 

[capper42]

Would using ebay or something similar not work? You're more likely to get a better return, and things like TVs would surely sell quite quickly.

However you do it, I reckon selling them yourself would be more likely to get you the most money you can out of what you have.

Just be careful not to sell almost everything you have, you could regret this later when you come to buy them back and get yourself into financial debt again. Selling rarely used televisions is one thing, even computers, but selling furniture and large appliances (what are we talking about here? Washing machines and things?) could be a bad move.

 

[Vicarious Reality]

So what is it that you did to owe damages?

 

[Kaytastrophe]

Sell it yourselves? If you go to a pawn shop or auctioneer you are not going to get even close to the value. You might at an auction but then you have to pay a percentage of the money earned to the auction house. Sell it yourself on something like craigslist. If its as valuable and good as you say people should want to buy it. You could always go to a pawn shop, and use the item as collateral for loan. Just a couple of ideas.

 

[Subatomic]

Sell it yourselves? If you go to a pawn shop or auctioneer you are not going to get even close to the value. You might at an auction but then you have to pay a percentage of the money earned to the auction house. Sell it yourself on something like craigslist. If its as valuable and good as you say people should want to buy it. You could always go to a pawn shop, and use the item as collateral for loan. Just a couple of ideas.

Keep in mind that he's from Germany. Pawn shops aren't very common around here, and nobody uses craigslist for anything.

 

[Kaytastrophe]

Sell it yourselves? If you go to a pawn shop or auctioneer you are not going to get even close to the value. You might at an auction but then you have to pay a percentage of the money earned to the auction house. Sell it yourself on something like craigslist. If its as valuable and good as you say people should want to buy it. You could always go to a pawn shop, and use the item as collateral for loan. Just a couple of ideas.

Keep in mind that he's from Germany. Pawn shops aren't very common around here, and nobody uses craigslist for anything.

I don't really know much of what Germany is like as I've only been to Berlin once. If thats the case I don't know what you could do to sell this stuff second hand. Best of luck though.