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The Pawn Shop, New service Opening up shop in New Eden

Author
Rain6639
GoonWaffe
Goonswarm Federation
#21 - 2013-01-05 19:40:31 UTC
the only way it could be better is if you had... a means of collecting on interest

no, I guess it's the same thing. 2 week title loan.... notbad.jpg
Mister S Burke
Doomheim
#22 - 2013-01-05 19:52:23 UTC
Ayumi Nevinyrall wrote:
Yeah, I get the point...

But the biggest scams take time to build up before you **** someone over...

After 2 weeks, even if you get 1 contract for 400 drakes, that's about 20 bil, Jita price, 14 bil, your buy. 6 bil profit after resale...

Think harder with your scams...

-edit-
And in order for you to have that kinda startup cash, you must have a deep wallet...
What alliance are you an alt of? As this wreaks of scam, I have a good guess...


Everything is not a scam and you don't need three periods on the end of every sentence.
Rain6639
GoonWaffe
Goonswarm Federation
#23 - 2013-01-05 19:53:47 UTC
Ayumi Nevinyrall wrote:
Don't you mean, wait 2 weeks when you get scammed then cry on the forums about it?
And it's not trolling, I'm just doing a public service and explaining how this could easily be a scam...


nnnnnno i don't see this turning into a smash and grab, unless it was time to close up shop and they just wanted to be messy about it. keeping the reputation clean and continually earning 5% will always yield more than the contracts open at a time. and of those contracts, how many do you think would be completed by the seller.
Lisa Maken
State War Academy
Caldari State
#24 - 2013-01-05 22:04:14 UTC
Excellent service, everything it says it is.
Also, polite guy and swift handeling of contracts.

Vera Algaert
Republic University
Minmatar Republic
#25 - 2013-01-05 22:13:58 UTC  |  Edited by: Vera Algaert
140% collateral and 5% interest for 2 weeks Shocked

BMBE is charging 0.50% - 1% per week which resembles the going rates for fully collateralized loans (which usually means 110-115%) on the open market pretty closely.

Why would I pay more than twice that (and overcollateralize my loan) for the privilege of dealing with someone completely unknown?

.

Ed Draggio
Jak Of all trades
#26 - 2013-01-05 22:17:57 UTC
I've worked with Har before and I trust him. I knew I could turn to him for help with a little project of my own. I got the 70% my ship's value and within a minute I received the contract to buy my ship back. A couple of days later I made my profit and bought my ship back. The service is quick and clean. I will defiantly be using The Pawn Shop again.
Warenz Illat
Brutor Tribe
Minmatar Republic
#27 - 2013-01-05 22:32:39 UTC
Worked for me as promised.
Har Farst
OpSec.
Wrong Hole.
#28 - 2013-01-05 22:40:50 UTC
Vera Algaert wrote:
140% collateral and 5% interest for 2 weeks Shocked

BMBE is charging 0.50% - 1% per week which resembles the going rates for fully collateralized loans (which usually means 110-115%) on the open market pretty closely.

Why would I pay more than twice that (and overcollateralize my loan) for the privilege of dealing with someone completely unknown?


your not paying more than your ship. so i dont see how your coming up with 140% . With what i think your trying to say i think 130% is what your going for.... considering we accept pawn contracts at 70% jita price.. even then your only paying flat rate of 5% on the item/ship/ i.e 100 mil ship you contract to us at 70 mil we contract back at 75 mil for 2 weeks.

You are getting your item/ship contracted back to you immediately and can get your stuff any time within that 2 week period. you dont have to haul or move anything. as long as its not sov space. straight forward service.
Razor Rocker
Super Mother Fan Club
#29 - 2013-01-05 22:50:47 UTC
Har Farst wrote:
Vera Algaert wrote:
140% collateral and 5% interest for 2 weeks Shocked

BMBE is charging 0.50% - 1% per week which resembles the going rates for fully collateralized loans (which usually means 110-115%) on the open market pretty closely.

Why would I pay more than twice that (and overcollateralize my loan) for the privilege of dealing with someone completely unknown?


your not paying more than your ship. so i dont see how your coming up with 140% . With what i think your trying to say i think 130% is what your going for.... considering we accept pawn contracts at 70% jita price.. even then your only paying flat rate of 5% on the item/ship/ i.e 100 mil ship you contract to us at 70 mil we contract back at 75 mil for 2 weeks.

You are getting your item/ship contracted back to you immediately and can get your stuff any time within that 2 week period. you dont have to haul or move anything. as long as its not sov space. straight forward service.


Yes, that sounds wonderful. But when you look at the numbers I believe Vera is right. Its 130% collateral for a <2 week loan at 5% interest. That does seem rather steep.

I'm rather confident that if your clients were to ask in MD for a loan with 110%-120% collateral for 1 month at 5% interest, they'd have it filled pretty quickly. And any investor wouldn't mind giving back the collateral sooner than a month so long as the full interest was paid out. Hell I'd fill most of them.

I mean the only real selling point of yours is that they don't have to haul it. But with cheap services such as red frog, who cares?
Har Farst
OpSec.
Wrong Hole.
#30 - 2013-01-05 23:07:53 UTC
Razor Rocker wrote:


I mean the only real selling point of yours is that they don't have to haul it. But with cheap services such as red frog, who cares?



1. you are able to see your contract as soon as its accepted in game. instead of relying on third party applications or websites.

2. No hauling

3. Friendly service.

4. prompt service, we respond to your Pawns as soon as we see them in game.


do you post negativly on every service post? or just the ones that are not your own in the eve online forums. :-)

Katran Luftschreck
Royal Ammatar Engineering Corps
#31 - 2013-01-06 00:13:17 UTC
Mai Khumm wrote:
I...smell...new...scam...


Might be, might not be. I'm sure that on day one people thought Chribba was just another scammer, and then again people also thought they could actually trust EIB until it was too late. We'll just have to see what happens over time.

The thing to consider is: Is it worth it to the CEO to scam customers? If he's banking a few hundred million per week off his 5% mark-ups then he'll be living pretty smooth for very little effort, so why screw up a good thing? Yeah he might make one big windfall if he scams some supercaps or some crap, but in the long run he'll probably make more money just being an honest businessman. That's why Chribba is still around and EIB isn't.

http://youtu.be/t0q2F8NsYQ0

Redd Cloud
Brutor Tribe
Minmatar Republic
#32 - 2013-01-06 00:28:59 UTC
I am the CEO of The Pawn Shop.

I have been a trusted member and high ranking Director in several corps/alliances as another character that I owned for a couple years recently sold.

This is not a scam and not just because I say so. We are seeking an independent arbitrator to settle all disputes. When we secure such arbitrator and fund him/her, this should be taken quite seriously. I understand the apprehension.

Behind the avatars is a group of three US Navy Retirees that have held the highest security clearances afforded by the Department of Defense and a close band of friends. Our entire adult lives we have been held to the highest standards of behavior and integrity.

It just so happens we have a bit of isk and one of us had this idea to offer an honest pawn broker in Eve. Many of our corpmates over the years have lost ships and been too isk poor to buy another and get back into the fight. However, isk poor should not mean you are actually poor. Many corpmates have relented to fire sales in corp/alliance chat to get the isk to buy a fleet battleship. We simply offer a opportunity to pawn your high value ships for a two week period to get your ship back without taking a massive loss.

Our fee is 5% of the market value the day you contract to us. You contract to us at 70% less the value of T2 rigs and we immediately contract the item back to you for 2 weeks at 75% of that same base price. If you have a Tristan with 3 large T2 armor rigs that has been idle in your corp hanger for years, it may have market value, but obviously no value to us because we'd get stuck with it. If you elect to let our contract to you expire, we are willing to work with you. However, we have little interest in reselling...we actually want you to take your stuff back!

There will be more details coming soon. We hope this will become a trusted service as has been the transfer of Titans. We see a need and we hope that need actually exists.
Redd Cloud
Brutor Tribe
Minmatar Republic
#33 - 2013-01-06 00:39:27 UTC
Quote:
But when you look at the numbers I believe Vera is right. Its 130% collateral for a <2 week loan at 5% interest. That does seem rather steep.


I agree...however, we are limited by the maximum duration CCP allows on contracts. If we charged less than 5% or used 90/95%, it would be a social welfare program and we'd be the owners of a lot of junk. We could make the same money if not more just moving items between market hubs...that's not original. It's just the business model we have come up with and I expect it to mature as we get going.
Bren Genzan
Open University of Celestial Hardship
Art of War Alliance
#34 - 2013-01-06 01:41:53 UTC
I'm Bren. I'm CEO of Open University of Celestial Hardship [0UCH]. We provide null sec survival and basic PvP training, free of charge, to brand new players and veteran care bears.

People come to us and wonder, what's the catch? There isn't one.

Same thing goes for The Pawn Shop. I know these guys. They are friends of mine. I trust them.

They are a handful of retired US NAVY guys who saw a market for a service and had the ISK to do a start up. All it requires to be successful is a little demand, and the opportunity to build trust in the community. That's gonna be hard, because trust is not given freely in Eve.

I really don't think they are in it for the money: they are rich enough, from playing the market. They are looking for a new challenge other than market PvP.

Besides, you'd rather they do this than buy up all of the Orca's in the Forge and raise Orca prices by 100 million isk over a weekend. Not that that could really happen, right? Roll

Red Frog, PUSHX, SomerBlink, Eve Online Hold 'em. Pretty sure there were folks who thought they were scams too. All it took was a little time to build a good reputation and a few people who took the chance to find out that these guys were the real deal.

Take a chance. If they do you a solid, bump the thread.
RubyPorto
RubysRhymes
#35 - 2013-01-06 03:23:09 UTC
Mister S Burke wrote:
Everything is not a scam and you don't need three periods on the end of every sentence...



Fixed your post...

Mate...

"It's easy to speak for the silent majority. They rarely object to what you put into their mouths." -Abrazzar "the risk of having your day ruined by other people is the cornerstone with which EVE was built" -CCP Solomon

The Legendary Soldier
United.
#36 - 2013-01-09 10:27:46 UTC

I know these guys.
They are on the level.

Need to place a high-sec POS? Premade corps for sale, or your corps standings boosted. Trading since January 2012. Many corps sold/boosted - see my thread: https://forums.eveonline.com/default.aspx?g=posts&t=63128&find=unread

Rain6639
GoonWaffe
Goonswarm Federation
#37 - 2013-01-09 11:11:13 UTC
want jita prices, haul your stuff to jita
Ronix Aideron
Zymurgy Corp.
#38 - 2013-01-09 17:53:09 UTC
I just wish I had thought of this first. Idea

It is no more a rip-off than title loans or payday loans.

Start the day off slow and taper off from there.

http://eveboard.com/pilot/Ronix_Aideron

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