|
|
Post by peerlessperil on Jul 5, 2017 12:48:44 GMT
I don't disagree - full recovery will probably not be achieved on many of these. Compound interest at these rates is vicious, which is why FS will be splitting the loans to pay back some capital where they can.
Out of curiosity I did check the pricing on some items and it wasn't a million miles away, but I suspect the volume here shifts the supply/demand significantly as it is probably more than the market can absorb in a few auctions.
As ever, perspective is influenced by personal exposure, so I should probably declare that my exposure is about a week's accrued interest on the platform.
|
|
hendragon
Member of DD Central
Posts: 631 
Likes: 619
|
Post by hendragon on Jul 6, 2017 9:22:47 GMT
There is a specialist auction for model trains etc with Astons of the West Midlands on 13th July. I would expect some of these items to be in that sale. Can't see any listed in either July sale catalogues yet. I am a little surprised, but I have not been through the catalogues myself. I suppose the trouble with selling at auction is that the main beneficiary is the auction house 
|
|
r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Jul 6, 2017 9:24:57 GMT
Can't see any listed in either July sale catalogues yet. I am a little surprised, but I have not been through the catalogues myself. I suppose the trouble with selling at auction is that the main beneficiary is the auction house I have to say, auction fees were quite a shock to me when I first came across them. I can't help but think there must be better ways to sell such as Facebook, enthusiasts clubs?
|
|
09dolphin
Member of DD Central
Posts: 638 
Likes: 866
|
Post by 09dolphin on Jul 6, 2017 9:28:15 GMT
EBay's fees are significantly lower than my local auction houses but it does take a little bit more effort on the sellers part.
|
|
stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
Posts: 1,447
Likes: 945
|
Post by stub8535 on Jul 6, 2017 10:16:32 GMT
EBay's fees are significantly lower than my local auction houses but it does take a little bit more effort on the sellers part.
It would probably be better to use a specialist seller on ebay for these niche products. Fees would be much lower, as you say, than an auction house.
|
|
r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Jul 6, 2017 11:33:37 GMT
It would probably be better to use a specialist seller on ebay for these niche products. Fees would be much lower, as you say, than an auction house. eBay sellers (and buyers) also have the added advantage of Global marketplace which would certainly help with marketing 'niche' memorabilia like these. IMO eBay is a very well trading platform this has been my experience having bought without difficulty in the US, Canada and Continental Europe. Member since 2010. The relatively weak Pound wouldn't do any harm in that respect, either. The only thing that bothers me slightly was the infamous ability of eBay buyers to get the goods and the money back.
|
|
kaya
Member of DD Central
Posts: 1,150
Likes: 718
|
Post by kaya on Jul 6, 2017 12:28:06 GMT
Investors are lured into loans such as this by valuations and info provided by Funding Secure, that suppose/infer that such items are actually in demand. However when things go wrong, Funding Secure turns out to be Funding Not-so-secure, or perhaps just plain Funding Insecure. |
|
hendragon
Member of DD Central
Posts: 631
Likes: 619
|
Post by hendragon on Jul 7, 2017 10:48:46 GMT
aside from e-bay what would there be to stop FS selling good from defaults via their own platform?
They already have much of the infrastructure in place, we could all see how goods are priced, and this is very similar to what is done by in-store pawnbrokers. For smaller items (not property) this could be a workable solution.
|
|
mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
|
Post by mikes1531 on Jul 7, 2017 15:23:03 GMT
aside from e-bay what would there be to stop FS selling good from defaults via their own platform? There'd probably be nothing that would prevent FS from doing that, but with speciality items such as the railwayana the key to obtaining the best prices has to be ensuring the goods are marketed to the right audience. eBay have built a reputation for themselves, and that's why it's the 'go-to' place for buyers and sellers. FS would be starting from scratch and would have an awful lot of catching up to do. Has anyone looked on eBay to see whether there's much stuff available similar to FS are needing to sell?
|
|
hendragon
Member of DD Central
Posts: 631
Likes: 619
|
Post by hendragon on Jul 24, 2017 15:03:56 GMT
shame about the latest update and several items not hitting their reserve at auction. My understanding ais that at the moment toys and railway items are one of the few areas that are quite bouyant at auctions.
|
|
james21
Member of DD Central
Posts: 651
Likes: 669
|
Post by james21 on Jul 24, 2017 20:06:51 GMT
Probably over valued in the first place (by the borrower), who can judge their value, it must be difficult; wonder what the borrower spent the loan on. Anyway will probably end up with a good proportion repaid to lenders when the toys are finally sold
|
|
|
|
Post by df on Jul 25, 2017 0:44:28 GMT
Probably over valued in the first place (by the borrower), who can judge their value, it must be difficult; wonder what the borrower spent the loan on. Anyway will probably end up with a good proportion repaid to lenders when the toys are finally sold Whatever the value is, it won't be easy to sell so many obscure items. It might take many years to sell all of them at desired price. If everything fails, there are always other options - ebay, gumtree, car boot etc. I hope for a positive result, full return of capital would be great  , but whatever the outcome will be this taught me a lesson not to invest in toy loans any more.
|
|
kaya
Member of DD Central
Posts: 1,150
Likes: 718
|
Post by kaya on Aug 6, 2017 11:55:47 GMT
but whatever the outcome will be this taught me a lesson not to invest in toy loans any more. ...and not to believe the valuations provided by Funding (In)Secure to us unsuspecting mugs investors. As others have suggested however, there must surely be someone out there with a bit of cash to spend on such things.
|
|
IFISAcava
Member of DD Central
Posts: 3,694
Likes: 3,022
|
Post by IFISAcava on Aug 7, 2017 10:21:21 GMT
All these now defaulted. Not a surprise.
|
|
ashtondav
Member of DD Central
Posts: 1,814
Likes: 1,092
|
Post by ashtondav on Aug 7, 2017 10:24:58 GMT
I would have though we should recover some of the money through sales. 50p in the pound - by Christmas?
|
|
, but whatever the outcome will be this taught me a lesson not to invest in toy loans any more.