The Gold Standard - Loans w/cards as collateral

[DHogan]

If you don't pay, they will come after you with smokelessjoe's Antique Baseball Bat.

[pokerplyr80]

Originally Posted by DHogan

If you don't pay, they will come after you with smokelessjoe's Antique Baseball Bat.

I would assume they just keep the card but I find it very concerning to say the least that they don't even list a rate on the site.

[Peter_Spaeth]

Originally Posted by pokerplyr80

I would assume they just keep the card but I find it very concerning to say the least that they don't even list a rate on the site.

It probably varies.

[Brian Van Horn]

This thread is turning into a classic .

[conor912]

Originally Posted by pokerplyr80

I would assume they just keep the card but I find it very concerning to say the least that they don't even list a rate on the site.

It's an adjustable rate, depending on how many fingers you let them brake.

I'm seriously not sure what's sadder....the existence of such a service, the people who would use it, or the fact that they're being let to advertise on this board. This service being hobby-related is tangential, at best.

[pokerplyr80]

Originally Posted by conor912

It's an adjustable rate, depending on how many fingers you let them brake.

I'm seriously not sure what's sadder....the existence of such a service, the people who would use it, or the fact that they're being let to advertise on this board. This service being hobby-related is tangential, at best.

I can see how it could be beneficial to people in certain situations. Pawn shop loans have been around for a while and help those without the credit to obtain traditional financing.

However, I would think that if things are so tight you need to borrow against your collection it may be time to simply let go of part of your collection.

[conor912]

Originally Posted by pokerplyr80

I would think that if things are so tight you need to borrow against your collection it may be time to simply let go of part of your collection.

Ding ding ding.

[1952boyntoncollector]

You would think the loss you would take on ebay if have to sell quickly wouldnt be worse then the interest you have to pay..who knows.

[Peter_Spaeth]

I would guess the loan to value ratio isn't going to be terribly favorable to the borrower in this kind of situation.

[Leon]

Originally Posted by conor912

It's an adjustable rate, depending on how many fingers you let them brake.

I'm seriously not sure what's sadder....the existence of such a service, the people who would use it, or the fact that they're being let to advertise on this board. This service being hobby-related is tangential, at best.

You are entitled to your opinion just like everyone else. I am not sure how different this is than when I have paid an auction house a percent a month to pay out a large lot I won at auction. I got a good deal and it worked out great, interest and all. I don't think this collateralized sportscard loan is for most of us, but for a dealer, or even a collector, it could be a way to do a deal they couldn't otherwise do.

[conor912]

Originally Posted by Leon

You are entitled to your opinion just like everyone else. I am not sure how different this is than when I have paid an auction house a percent a month to pay out a large lot I won at auction. I got a good deal and it worked out great, interest and all. I don't think this collateralized sportscard loan is for most of us, but for a dealer, or even a collector, it could be a way to do a deal they couldn't otherwise do.

You do you. The market will dictate...just not my style.

[Leon]

Originally Posted by conor912

You do you. The market will dictate...just not my style.

There is a lot of give and take on the board. I didn't say anything when you posted your unauthorized ad on the front page. I don't say much about a lot of stuff that goes on. You are a good member and I wouldn't say anything about it but since we are talking about ads I figured I would throw it out there. Maybe some day I can make the show you are VP of Publicity for.

[conor912]

Originally Posted by Leon

There is a lot of give and take on the board. I didn't say anything when you posted your unauthorized ad on the front page. I don't say much about a lot of stuff that goes on. You are a good member and I wouldn't say anything about it but since we are talking about ads I figured I would throw it out there. Maybe some day I can make the show you are VP of Publicity for.

If everyone else who has previously posted a notice about a show has privately asked for your permission, which I admittedly did not, then I apologize.