Do you mean you reckon he might have nicked it? - hmmm not sure what i'd do either in that case.
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What I would do would depend on my opinion of the old fella.
If I thought he was a bit senile then I would definitely give him half as I would not want to feel like I took advantage.
But if he is compus-mentis then there may be a reason he doesn't want to share the profits and by doing so you might embarass him. Now I don't know you or your circumstances but perhaps he is well aware of what it is worth and is trying to help out someone who he thinks needs it. We did that to a single mum friend whom we sold our perfectly good tent to for $50 so that she could take her kids on holidays.
Bottom line I would very likely put his half in an envelope, try to give it to him and if he knocked it back again I would keep it guilt free.
Do what feels right and makes you feel good at night.
Karma gets you everytime.
Or, put yourself in the other guys shoes and think what you would have liked.
i would let him know how much it is worth and talk over the options.
It a moral issue however the old codger did sell it for $10. Myself i would would give 25% of what you get. Then you have cleared your moral obligation
Sell it and if he doesn't want the money then donate it to a local charity that works for the elderly and remember we are all getting older and what goes around comes around. cheers JP
had a yarn with the old boy about 112's, reckons maybe $200-$250 in absoloutely mint condition.....
dads a boatbuilder by trade, tool collector and has used everything in his 3-4 tonne collection.....
as for what to do with it, give him half if you sell it