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Post by geraldine1210 on Oct 13, 2016 12:18:04 GMT
A question for collateral.
Do you use the same valuers (from different areas) every time?
Do you ever accept a valuation from a prospective borrower, or is this always checked by an independent source, who is happy to put hid/her name to this valuation?
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Post by Collateral Rep on Oct 13, 2016 12:50:31 GMT
Hi,
We have a number of independent valuers, trade dealers and retailers we can call upon at any time.
Gordon
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Post by geraldine1210 on Oct 13, 2016 13:24:49 GMT
Hi, We have a number of independent valuers, trade dealers and retailers we can call upon at any time. Gordon I understand that the lower value items are not so important, but am thinking more of when it is a high value item and most importantly when it is a property. In these instances of high value items or a property, do you always seek an independent valuation? Thank you.
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oldgrumpy
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Post by oldgrumpy on Oct 13, 2016 13:35:54 GMT
To what extent are loans made via or to companies with directors common to or related to those of Collateral? With MT, we know about the pawnbroker chain and the motor traders (which are independent of MT, directorwise). With Collateral we are less enlightened. (Please direct me if this information has been given elsewhere).
edit - Sorry Geraldine - this is thread drift, but people have seen it now so I won't start a separate thread.
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Post by geraldine1210 on Oct 13, 2016 13:52:55 GMT
To what extent are loans made via or to companies with directors common to or related to those of Collateral? With MT, we know about the pawnbroker chain and the motor traders (which are independent of MT, directorwise). With Collateral we are less enlightened. (Please direct me if this information has been give elsewhere). edit - Sorry Geraldine - this is thread drift, but people have seen it now so I won't start a separate thread. Not at all. I think it fits in nicely.
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oldgrumpy
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Post by oldgrumpy on Oct 21, 2016 15:56:45 GMT
To what extent are loans made via or to companies with directors common to or related to those of Collateral? With MT, we know about the pawnbroker chain and the motor traders (which are independent of MT, directorwise). With Collateral we are less enlightened. (Please direct me if this information has been given elsewhere). edit - Sorry Geraldine - this is thread drift, but people have seen it now so I won't start a separate thread. The group assets loan this week is to a new borrower, presumably a pawn shop/chain you have reached a working agreement with. Is this new borrower in any way connected to Collateral by common directors, or is the borrower a totally independent entity?
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Post by Collateral Rep on Oct 21, 2016 16:36:13 GMT
Hi,
This borrower introduced himself to us at our stand at the International Jewellery Show in London last month, along with other potential new borrowers.
Thanks,
Gordon
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Bagman
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Post by Bagman on Oct 21, 2016 17:04:25 GMT
That is an interesting way to engage with new borrowers, so will you be taking a stand at the jewellery and watch show @ NEC Spring fair in Feb 2017 , there are a few halls there devoted to the jewellery trade ?
Nec Spring fair
jewellery and watch
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stevio
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Post by stevio on Oct 21, 2016 20:04:40 GMT
collateral are all the assets you loan on based on an independent valuation? Have any valuations been solely made by the borrower?
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upland
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Post by upland on Oct 22, 2016 8:33:42 GMT
I find items like "Ladies white gold solitaire ring 4 Ct" does not tell me much. Whether this is worth £5K or £199.99 from Ebay I have really no idea of value. A bit more information would be good like age and brand but I am speaking as someone who knows little of this particular part of the industry. Property or cars are more easily roughly valued although I have seen situations in which property has not realised its stated value by quite a margin. I feel a bit more confident with collections the overall realised value probably fluctuates less due to some items realising more and some realising less. Likewise art - its a bit of an opinion , better in collections. I do appreciate that collateral has professional valuers and some backup should it go wrong but its only a few years since the valuations on sub prime debt plunged us into a bit of a torrid time. Thats my thoughts on valuations.
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Post by Collateral Rep on Oct 22, 2016 9:53:41 GMT
Hi,
All loans are valued by independent valuers.
As for the latest group loan, we didn't put the cost price up because the borrower supplies jewellery retailers.
Many thanks,
Gordon
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Post by Collateral Rep on Oct 22, 2016 10:53:14 GMT
Hi @magenta14,
We are very close, hopefully in the next couple of weeks.
Thanks,
Gordon
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stevio
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Post by stevio on Oct 23, 2016 10:25:47 GMT
Hi, All loans are valued by independent valuers. As for the latest group loan, we didn't put the cost price up because the borrower supplies jewellery retailers. Many thanks, Gordon As mentioned, it's difficult for a lay person to judge if the valuation is correct. it would at least be useful to see this is done by a qualified professionals. Are you able to supply a valuation document with each loan? Also the valuers details?
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oldgrumpy
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Post by oldgrumpy on Oct 25, 2016 15:49:41 GMT
Are any of the pawn shops/chains or valuers owned by or operated on behalf of directors/employees of Collateral?
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Post by martin44 on Nov 10, 2016 22:35:53 GMT
Are any of the pawn shops/chains or valuers owned by or operated on behalf of directors/employees of Collateral? I too have been wondering the same, i wish Col would give us some reassurance, i do want to up my investments here, but the uncertainty........ edit......I do hope this is not a 'family' enterprise.
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