I wonder if it ever occurred to FS to offer these items to the very investors who have now lost out handsomely (hum... 'disgracefully') !!? If only they had a website that could handle such things . . . !?
This is officially my first loss on FS (although I'm also in some questionable pending loans), I'd always thought bling safe by P2P standards but I find the level of recovery on the rings quite shocking given the valuation. No comeback on the valuer etc? (Ye right, I'll see myself out)
Pretty poor given the only thing we can base an investment on in pawn loans is the valuation and item(s). Maybe time to abandon even pawn on FS...
2127087124 (Diamond Earrings) "recovered" today. If you can only manage to recover 87% on a jewellery item on a LTV of supposedly 60% there is a problem. I fully understand that gold prices and diamond prices can fluctuate. I also understand auction fees can take 20 to 25% of the value of the item on sale. Even allowing for this the initial valuation must have been somewhat out to say the least. fundingsecure could you please comment on the valuation of this piece? To achieve a recovery of less that 60% of what I assumed was the trade value is quite frankly dreadful. May I express the hope that you have valued all items at trade price rather than retail or insurance value.
Perhaps I should say thanks to this thread. I was hanging on to some bling loans and letting them run their course. Not any more all sold up on the SM. FS has been profitable over the years and all my capital plus some profit has been withdrawn. It is a sad thing to say that I have now arrived at the point where I trust neither the valuations or the recovery procedures of FS.