merlin
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Post by merlin on Sept 20, 2017 16:34:18 GMT
As far as I can see this offering is a farce before it even gets launched. It already appears to have two different numbers allocated - 7917921588 and 6334081637. Perhaps this is to separate the militaria from the clocks. However an even bigger mystery is the valuation which states ...."view valuation which shows auction estimates. The estimates range from £484k to £686k. We have based our asset value on 1/3rd of the range, being £550k". This makes no sense at all.
I have been a collector of this type of militaria for over five decades and would be extremely doubtful if this collection was worth more than the third suggested of around £250k. The market for militaria has largely gone away and prices fetched at Bonhams, Christies , etc. are now very much lower than they were 10 years ago. Maybe the valuations date from then or are replacement valuations for insurance purposes?
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Liz
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Post by Liz on Sept 20, 2017 16:54:20 GMT
It took me 5 seconds to say "avoid" on this one. I avoided mini trains and foreign books, so this type of loan is of no interest to me. Taunton must be a far better bet than this.
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rogerthat
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Post by rogerthat on Sept 20, 2017 16:55:14 GMT
Not sure why you have the auction numbers you do..I have 7917921588 for the swords/pistols etc & 2111925563 for the clocks  too late to edit my info..the two numbers above are under the umbrella of another Valuation didn't cover the clocks as far as I can see...so who did ? How anyone can throw K's at this mess is beyond me |
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Sept 20, 2017 17:00:09 GMT
It took me 5 seconds to say "avoid" on this one. I avoided mini trains and foreign books, so this type of loan is of no interest to me. Taunton must be a far better bet than this. Those are the numbers I got when I printed it out. It also gave reference to details of all items but the link did not work!!
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Sept 20, 2017 17:01:08 GMT
Just a thought. May be a work in progress?
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IFISAcava
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Post by IFISAcava on Sept 20, 2017 17:05:50 GMT
It took me 5 seconds to say "avoid" on this one. I avoided mini trains and foreign books, so this type of loan is of no interest to me. Taunton must be a far better bet than this. Once bitten by (railway) memorabilia, once shy
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sqh
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Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Sept 20, 2017 17:09:51 GMT
Not sure about this one, reminds me of Lock Stock and Two Smoking Barrels.
"If the milk turns out to be sour, I ain't the kinda pussy to drink it."
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rogerthat
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Post by rogerthat on Sept 20, 2017 17:11:45 GMT
A tadski confused to put it mildly... "Please click on the link to view the valuation which shows auction estimates. The estimate ranges from £484k to £686k. We have based our asset value on 1/3rd of range, being £550k." Presume they've taken a position 1/3rd between lower and upper range ? Well its scorched up to 26% funded  ..no doubt everyones too confused to have any idea what they are actually lending against. FS say "an auction house " has valued the clocks but don't include the valuation So...The Umbrella Loan no is 6334081637 which is then sub-divided into two loans...7917921588 for the swords/pistols (valued @ £550K) and 2111925563 for the clocks (valued at £103K but no valuation enclosed)..wouldn't it have been easier to either enclose the lot under one loan or separate the two ?...and what if lenders fancied a flutter on the swords/pistols but not the clocks or vice versa...curious and curiouser. Do you think it got near 5pm and everyone decided they wanted to go home ? Its stalled at 27%...I wonder why ?  Pity they removed all the firing pins...any chance just one could be replaced ...or was it to prevent any temptation down Stokenchurch way at Hari kari ?  |
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Sept 20, 2017 17:58:26 GMT
One observation. If they have removed all the firing pins, then they must be talking about firearms post 1860 and not Napoleonic weapons. This could bring them out of the antique category and could require a firearm or shot gun certificate. Wonder if they have thought of that!!
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mullet
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Post by mullet on Sept 20, 2017 17:59:46 GMT
The estimates range from £484k to £686k. We have based our asset value on 1/3rd of the range, being £550k". This makes no sense at all. Yes it does - it get the LTV under 70%
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rogerthat
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Post by rogerthat on Sept 20, 2017 18:11:26 GMT
Seems to me that a collection as large as this (whether worth the valuation or not) couldn't have been built up piece by piece in just 15yrs. So I can only assume that a lot of it was purchased as job lots rather than by a connoisseur meticulously building up a collection with personal oversight..Probably the same for the clocks/watches though they have more appeal to me than the weapons. On that basis I might give my piggy bank a prod with a kitchen knife and see what small change drops out.. |
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rogerthat
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Post by rogerthat on Sept 20, 2017 18:28:15 GMT
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james21
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Post by james21 on Sept 20, 2017 18:35:19 GMT
Took a 5 second look, thought avoid, anyone's guess as to the valuation
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Sept 20, 2017 18:47:59 GMT
Not sure why you have the auction numbers you do..I have 7917921588 for the swords/pistols etc & 2111925563 for the clocks too late to edit my info..the two numbers above are under the umbrella of another Valuation didn't cover the clocks as far as I can see...so who did ? How anyone can throw K's at this mess is beyond me The two numbers are asset numbers that sit behind the loan number.
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Post by richardthe4th on Sept 20, 2017 19:41:52 GMT
Using the lower valuation, and knocking a fair bit off since militaria isn't as popular as it once was, I make the LTV about 180%.
Which was about the same as the deal collection - but no bottle of beer.
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..no doubt everyones too confused to have any idea what they are actually lending against. FS say "an auction house " has valued the clocks but don't include the valuation
