NSW Property Law - What are My Obligations to the Damaged Property?

[Vin]

I have damaged an item on a property after colliding with it with my car. I have offered to replace the item on a "Like for Like" basis for an item of similar age and condition. The type of item is no longer made and the owners want it replaced by a type that to me seems to be of superior quality and they seem to want New for Old. The item in question is over 7 years old and I have offered financial recompense, which has been rejected. Can you tell me what my obligations are in this matter under Property Law?

Thanks

 

[Tim W]

What is the item?
Where was it located (adjacent land, common property in a strata? Or...)?

 

[Vin]

It was a large decorative planter box on the property of the owner