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Do I have to return deposit if buyer fails to buy car, then asks for deposit back over a year later?

I advertised my Alvis 12/50 on EBay and a multi-millionaire said he wanted my car so we agreed on £36,000, so I finished the auction early on 26-10-14, he was difficult to contact after sale and ended up only being able to talk to his Personal Assistant. Eventually he paid a £6,000 deposit via PayPal on 19-11-14, after further E-mailing him and telephone calls to his PA there were promises of completing the sale, in the end I gave up in March 2015 and re-advertised and sold my Alvis in June 2015 for £30,000. I had not heard from him since November 2014, only from his PA until 23-02-15, I now have received any E-mail from his PA 14-03-16 asking for the deposit back, what is my position legally do I have to return the money even though I had considerable hassle in the non sale and selling the Alvis for less later on, should I reply to his PA and what should be my response? I know this question might not sound true but it is! I welcome your response.

Asked on 16 March 2016 by Nigel GT

Answered by Honest John
No surprise there. Rich people don't get rich by being nice. You could let it go to Small Claims pleading breach of contract on his part that led to a lot of hassle and a £6,000 loss on the eventual sale of the car, compensated by the non return of his £6,000 deposit. The most pertinent fact is the £6,000 loss on the sale of the car and you need to be able to prove from classic auction results, etc, that £36,000 was a 'reasonable' price for the car at the time.
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