ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Oct 15, 2018 11:07:42 GMT
Seeing as it's their "thing", I am up to my mammaries in watches.
So if there's a major downturn I imagine the values will plummet with so many arguably being sold/auctioned at the same time and the LTVs will be severely tested?
Basically, I'm wondering if 70% LTV is enough (some are higher), considering the forthcoming inevitable "correction"?
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james100
Member of DD Central
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Post by james100 on Oct 15, 2018 13:20:16 GMT
Unbolted have an arrangement with Forum Auctions don't they? SO buyer premium at 30% inc vat, meaning the buyer should only pay an absolute max of about 75%. Not sure if unbolted pays any seller premium, unusually, I think not ... But if you want a watch and can't quite afford it then you can always get a bit of help here: www.forumauctions.co.uk/unbolted-financing .
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markyg61
Member of DD Central
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Post by markyg61 on Oct 15, 2018 16:50:21 GMT
If you look at a number of the previous jewelry and watch auctions its surprising (or not) how many watches remain unsold / dont meet the minimum bid.
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Post by dan1 on Oct 15, 2018 19:18:58 GMT
Seeing as it's their "thing", I am up to my mammaries in watches. So if there's a major downturn I imagine the values will plummet with so many arguably being sold/auctioned at the same time and the LTVs will be severely tested? Basically, I'm wondering if 70% LTV is enough (some are higher), considering the forthcoming inevitable "correction"? I really don't understand the mechanisms (pun intended ) behind high end watch pricing but that's mainly because I'm a cheapskate! Having said that there must be numerous factors at play, many of which are outside of the control of the likes of Unbolted. Some thoughts, in no particular order.... - On what basis are valuations performed? Traditionally, I think of insurance but we're interested in auction prices.
- Worth remembering that this is a trade in second hand timepieces. Anecdotally, the market seems to be on the rise driven by fashion (no kudos in showing off the watch you've had for 5 years, when you could trade it in for a different make/model).
- The watchmakers will want a piece of the income from this second hand market, if they haven't already. They'll offer "approved" second hand watches - I see parallels with the high end car market.
- Following on from above, when are we going to see leased watches?
- These are global brands and a downturn in one area may be offset by a rise in another. What about exchange rates? Whose buying at auctions, mainly UK dealers but for clients far and wide? I've no idea!
- Technology. Smart watches are just gaining traction so will there be high end smart watches (if not already), and what partnerships will develop - e.g. will a rapid rise in the demand for high end smart watches depress traditional prices for a short while? I'd of guessed not.
- [this is very left-field but hey!] I guess these things are used as pseudo-currency at times so what happens if there are increasing restrictions/import duties/controls at borders as a result of increasing anti-globalisation... I said it was left-field
- Should we not get some idea of what a mini-glut does to the market when the Collateral items hit the market?
Perhaps I need to watch(!) more of the trash telly about the pawn industry.
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Post by df on Oct 20, 2018 21:38:09 GMT
Interesting, although smart watches (well, pretty much only the Apple Watch) have had a big effect on the luxury sector, the demand for interesting models or generally any steel Rolex is as strong as ever, if not stronger. That's why I think loans on those are more secure - but we can't always pick our loans on UB.
I prefer manual to auto, but really like this feature on UB. I wouldn't want to engage myself in studying the world of watches, handbags, precious stones, metals etc, not for small chunks generally allocated for pawn loans. It works well for me how they manage my funds.
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xtab
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Post by xtab on Jan 23, 2019 13:47:08 GMT
Apart from the occasional unprotected, and so optional, bespoke loan, auto invest is I think the only option. I've tweaked my single loan limits many times over the time I've been with them and still have no idea just how they allocate the amounts. I'm more sanguine about the gold loans than the watches. (And I too have never understood the desirability of a Rolex, but confess to being a fellow member of the cheapskates club)
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Post by df on Jan 23, 2019 21:51:56 GMT
Apart from the occasional unprotected, and so optional, bespoke loan, auto invest is I think the only option. I've tweaked my single loan limits many times over the time I've been with them and still have no idea just how they allocate the amounts. I'm more sanguine about the gold loans than the watches. (And I too have never understood the desirability of a Rolex, but confess to being a fellow member of the cheapskates club) Algorithm allocates it according to loan size, your settings and available cash. Small loans are randomly allocated as £5 chunks, no matter how high your settings are.
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