Abu Dhabi Investor Secures Dh197,550 in Online Auction Dispute

An investor who claimed he entrusted his savings to an online auction venture has won a court ruling ordering the platform and its owner to repay Dh197,550, after the money he invested was not returned at the end of the agreement.

 

The Abu Dhabi Commercial Court of First Instance ruled that the auction platform and its owner must jointly pay the remaining amount owed to the investor, along with 5 per cent annual interest until full repayment, in addition to court costs and Dh200 in legal fees.

 

Court documents show the investor had entered an agreement with the company to fund the purchase of products to be sold via the platform’s online auctions. In return, he was promised a 15 per cent profit on the invested amount. The investor transferred funds to the owner’s personal account and also made some cash payments.

 

When the investment period ended, he requested the return of his capital and profit. The defendants did not repay, prompting the lawsuit.

 

The claimant initially sought Dh233,500, 9 per cent interest and Dh50,000 in damages, submitting the investment agreement, bank transfers, receipts and WhatsApp messages as evidence.

 

A court-appointed accounting expert found the platform operated solely online without a physical office, confirming the arrangement was a commercial investment, with the claimant financing purchases for auction resale.

 

The expert verified the investor provided Dh217,000 in capital, based on bank statements and receipts. The defendants did not submit audited accounts or evidence of losses. With no losses documented, the full investment remained intact, and profits at 15 per cent were calculated at Dh32,550.

 

This brought the total to Dh249,550, of which Dh52,000 had already been received by the investor. After settling accounts, Dh197,550 remained outstanding.

 

The court relied on the expert’s report, noting the defendants had not contradicted the findings or proved repayment. WhatsApp messages suggested the platform earned profits from auction sales, confirming no losses.

 

The court dismissed the investor’s request for a decisive oath from the manager, ruling the contract existed only between the investor, the platform, and its owner. It ordered repayment of Dh197,550 with 5 per cent annual interest until settlement, dismissing the remaining claims.

 

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