ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Aug 15, 2015 11:18:06 GMT
It's reassuring that the piano has an auction value above the borrowing costs, but what's happened to the borrower of the "Dreamer". With an LTV of less than 6%, I'm surprised this one is in default. Could it be that some borrowers think FS will find the best auction price for their valuables, or is this one the Crime of the Century.  That assumes it sells for the prices mentioned. Note that in the previous auction the only Steinway Grand that sold went for 5k less than the bottom of the range, though that sort of result would still probably be enough. Positive that theyve had phone enquiries already, just hope FS remember to set a reserve, Print certainly an odd situation which is slightly worrying, particularly as FS have been quiet on it for a month now.
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Post by mrclondon on Aug 15, 2015 11:51:53 GMT
Whilst I agree the print situation doesn't feel quite right, I can't help but think that if the borrower had a dishonourable outcome in mind from the off, he/she would have extracted more than £8400 from FS.
I may be wrong, but I get the impression the £150k valuation is from 2007, and given the fickle nature of contemporary art, if so it tells us little about what someone might be prepared to pay for it today. I suspect this one may be stuck in our lists for some time to come, as it may be unsuitable for a routine art auction. As noted in a current MT thread, a healthy scepticism appears to be needed on art backed loans.
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hendragon
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Post by hendragon on Aug 21, 2015 17:18:33 GMT
nice to see the defaulted motor-bike loan has been resolved  |
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,335
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Post by ilmoro on Aug 23, 2015 19:43:32 GMT
Small one looking likely
1250275368 Ring. Default notice sent
Next up two potentials due to previous - Beamer & Lubins
Merc been extended to 13/9
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,335
Likes: 11,558
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Post by ilmoro on Aug 27, 2015 9:15:37 GMT
And another one 2814925719 Print 17/7 Loan defaulted looking to sell
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SteveT
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Post by SteveT on Aug 27, 2015 10:21:10 GMT
Interesting. I am determined that my Premium Bond will come up next month.
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Aug 27, 2015 10:25:11 GMT
Interesting. I am determined that my Premium Bond will come up next month. Hate to disappoint you SteveT, but I'm doubly determined to win next month 
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spockie
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Post by spockie on Aug 27, 2015 11:47:19 GMT
Interesting. I am determined that my Premium Bond will come up next month. Hate to disappoint you SteveT, but I'm doubly determined to win next month As they say on the X Factor and similar, 'I want it sooo much', so that must mean it'll be me. Sorry to disappoint you gents...
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Aug 27, 2015 11:50:00 GMT
Hate to disappoint you SteveT, but I'm doubly determined to win next month As they say on the X Factor and similar, 'I want it sooo much', so that must mean it'll be me. Sorry to disappoint you gents... Oh no! Don't tell me your gonna win it?
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spockie
Member of DD Central
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Post by spockie on Aug 27, 2015 11:54:05 GMT
As they say on the X Factor and similar, 'I want it sooo much', so that must mean it'll be me. Sorry to disappoint you gents... Oh no! Don't tell me your gonna win it? Well, according to reality TV, if you want something it's your right to win it. Who am I to argue with Simon Cowell...
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spockie
Member of DD Central
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Post by spockie on Aug 27, 2015 11:55:04 GMT
I did win £3.50 on Euromillions on Tuesday. Not quite what I had in mind.
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Aug 27, 2015 12:08:41 GMT
Oh no! Don't tell me your gonna win it? Well, according to reality TV, if you want something it's your right to win it. Who am I to argue with Simon Cowell... OMG. You mean.............................you're really Sharon Osborne.  I never realised you were an active P2P investor as well as all your other fantastic talents.
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spockie
Member of DD Central
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Post by spockie on Aug 27, 2015 12:10:45 GMT
Well, according to reality TV, if you want something it's your right to win it. Who am I to argue with Simon Cowell... OMG. You mean.............................you're really Sharon Osborne. I never realised you were an active P2P investor as well as all your other fantastic talents. And I thought I'd kept my identity so well hidden!
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,335
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Post by ilmoro on Aug 29, 2015 2:29:03 GMT
yacht repair - full recovery Another result for FS crew |
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Post by mrclondon on Sept 1, 2015 19:50:25 GMT
Next up two potentials due to previous - Beamer & Lubins Merc been extended to 13/9 The Merc repaid on 28th Aug, but unsurprisingly default notices were sent out today (1st Sept) for the BMW & Lubin art. The wording added to the Lubin loan rather implies there is no hope of repayment being forthcoming. Given the other Lubin loan resulted in a 30% capital loss after FS settled the loan themselves with only 3 out of 14 (?) paintings sold at the time, it will be interesting to see whether lenders in this loan fare better or worse. With the prominent warning on the loan itself of the earlier default, FS may not be as sympathetic as regard an early settlement.
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