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It's only worth that if you can find a buyer willing to pay that amount. Most will pay half. Still sucks. Not as painful in that light. Though if someone gave me something worth that unknowingly I'd make the offer to give it back or sell it and split the money.
Why? If they accidentally gave away say, their grandmothers ring then I would understand giving it back but they handed you something they did not want. I would not tell them how much it was worth, that seems rather rude, but if you did the work to see how much it was worth and sold it, you owe them nothing.
That's what the internet is for
YDI for not checking out the value of something before giving it away!
Sucks to be you.
Sorry Op, but this is not your friends fault or responsibility that you gave away something of value. You didn't bother to do the research or make sure it was not an antique. Had you done that you might have $400 bucks. Your friend/the new owner did the research to make sure it was worth something. If you do not take the time to do the work then you do no deserve the rewards. I am sorry you feel cheated but they don't really owe you anything, not the money, not the lamp back. You gave it away and would not have cared about it after that moment if it was not worth any money. However the person should not have told you that.
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You can never tell the true worth of anything these days. A picture of someone's butt could be worth thousands of dollars :/
One mans trash is another mans treasure.....