Banking Licenses Sold!

[Etopia]

Originally Posted by Midnght

It's 20 days by the way.

Here's the total break down in costs etc and winners.
Good job MA

Bank#1- 999000.00ped Yuri iNTellect Efremov SOLD $99,900.00 + $100,000 Required in EU account 20 days.
Bank#2- 950001.00ped Jolana Kitty Brice SOLD $95,000.10 + $100,000 Required in EU account 20 days.
Bank#3- 900002.00ped Jon NEVERDIE Jacobs SOLD $90,000.20 + $100,000 Required in EU account 20 days.
Bank#4- 590608.00ped Janus JD D'Arcwire SOLD $59,060.80 + $100,000 Required in EU account 20 days.
Bank#5- 600000.00 + ped Baroness Anshe Chung SOLD $60,000.00 + $100,000 Required in EU account 20 days.

I was not so far :

Originally Posted by Etopia

I guess eatch liscence will go at 1M ped
So that will be 5M ped for liscence + 5M ped on card , so a total of 1M$ for MA...

Its just a guess , but auction will be for 3 month ..... Thats a lot of time to gather money and make project studay things and so on...

[forgo]

Will be interesting to see what these can offer to the average playerbase, and if it becomes worthy of use. Grats to the winners though!

Originally Posted by bigdeal

I wander if ND have the nerve to name his bank "U.S. Mastercard"
Gratzz to all winners, and special MA who did it again.

greetings,

bigdeal

Personally I think BOND is better suited ....Bank Of ND

(has some secret agent aspect, relates to a form of money, and doesnt violate any trademarks)

[Joker]

Originally Posted by Centech

Uhm.

And you mention this because..?

Hope this clears it up for ya...

Originally Posted by Vedder

Even the tiniest little local bank, have funds far beyond worriying about an investment of this size, so the size of the bank is not important at all.

I guess we'll soon know if a RL bank got a license or not... But it doesn't seem like it.
I really hoped they would.

anyways staying on topic... i am interested to see when the banks are placed in game.. and what kinda fun things MA has in store

[Midnght]

Originally Posted by forgo

Will be interesting to see what these can offer to the average playerbase, and if it becomes worthy of use. Grats to the winners though!





Personally I think BOND is better suited ....Bank Of ND

(has some secret agent aspect, relates to a form of money, and doesnt violate any trademarks)

Oh I think this will work out for some folks. Wasn't to many months ago I wanted to take out a loan from a soc mate.

In the end I just waited fro me CC to clear up. But had they been in my time zone and we had a better chance to work out the collateral for the loan I would have used the service in a heart beat. The bank would allow me have done this at any tiem of day without having to haggle over preceived value etc etc.

this will also allow hunters who think they will win a competition to put somethign up nad some peds grab some ammo and go on a hunting event. If they win they cna then get their items back.

[Xen]

Am I missing something, or are these really high prices to pay for virtual pawn shops?

[Midnght]

Originally Posted by Xen

Am I missing something, or are these really high prices to pay for virtual pawn shops?

Yes they are high.

But one only hopes the winners have taken all factors into consideration and have speculated well.

[Joker]

I dont understand how they have become "pawn shops"

and i am glad that some big banks didnt get purchased by large IRL banks... because they are unfirmliar with items worth...

Say someone with no experience comes in and might just pick the year price.. Imp fap for example... 200k peds worth in current market... Year stats are 110k

`A guess at what a big bank might offer you 110k...
`say a NEVERDIE who is a bit more knowledgable about the market might offer 180k...

but then again we will see how much an individual like NEVERDIE has say in these loans...

Its not a pawn shop... its a loan... just like IR assets(house car....) your virtual items will be assets against the loan you take from these in game banks.. if u default on your loan the banks keep your stuff... i dont see how this is a pawn shop...

[Angel D]

Originally Posted by Joker

I dont understand how they have become "pawn shops"

and i am glad that some big banks didnt get all the banks... because they are unfirmliar with items worth...

Say someone with no experience comes in and might just pick the year price...

for Imp fap thats 110k...
say a neverdie who is a bit more knowledgable about the market might offer 180k...


Its not a pawn shop... its a loan... just like IR assets(house car....) your virtual items will be assets against the loan you take from these in game banks.. if u default on your loan the banks keep your stuff... i dont see how this is a pawn shop...

IRL your car doesn't get stored in a vault until the loan is paid off. It is more like a pawn shop.

[kira-red]

Originally Posted by Joker

I dont understand how they have become "pawn shops"[...]

because they always have been. the description of how they work is the definition of a pawn shop.

look up the following: lein, secured loan, lombard banking.

this should help you out. I'm too lazy to bother to do it for you. but, I will provide this much: secured and unsecured loans do not require that you surrender assets.

[Midnght]

As someone already stated the lonas in which you speak joker do not take your item away unless you default and the courts intervene. Despite collateral it's still an unsecured loan.
Pawnbrokers take secured loans. they know the item has vlaue they take it from you get cash. You want the item back you pay the loan back plus fee you get item back. You default they get to keep it without the need to go through any legal mumbo jumbo and police warrants to get their peroprty for the loan.

A pawnbroker offers monetary loans in exchange for an item of value to the given pawn broker. The word pawn is derived from the Latin pignus, for pledge, and the items having been pawned to the broker are themselves called pledges or pawns, or simply the collateral.

How the pawning process works
Within a certain contractual period of time, the pawner of an item may purchase it back for the amount of the loan plus some agreed upon fee. If the time elapses without payment, the pawnbroker is allowed to sell the pledged item to recoup the amount of his loan, which may have only been a fraction of its actual market value. Pawnbrokers often have a large number of formerly pawned objects for sale at their place of business, called a pawnshop, whereby they may recoup money that had been loaned out on an item subsequently forfeited by a pawn customer.

Pawnbrokers can also purchase an item outright for cash with no repayment expected; these sometimes need to be held for up to 30 days by law before they can be offered for sale. Because of the risk to the pawnbroker of receiving stolen property, and the interests of the community in not to allowing a legitimate businessman to act as a fence, laws to protect both these parties exist in some jurisdictions in the United States through the means of a hold placed on an item purchased by a pawnbroker. If a hold law is in effect, it will last up to approximately 30 days, depending on location.[citation needed] Such regulation is necessarily imperfect. Unscrupulous pawnbrokers buy goods from strangers with few questions, or turn a blind eye to certain customers, despite state laws in the United States that require a state issued ID card, Social Security number and physical description of a customer. Some local governments in the United States require a picture or thumbprint to be taken of the pawn customer. Few stolen items end up in pawnshops, though some claim that the nature of the business necessitates that some of the items will be stolen goods--many stolen items are just too common or too difficult for the authorities or even theft victims to identify and prove former ownership.[citation needed] According to the U.S. National Pawnbroker's Association, less than 0.1% of items that come through a pawn shop are stolen. [http.//www.detroitpawnbroker.com]


Items of monetary value
Pawnbrokers are often willing to take in many types of items including jewelry, video game systems, musical instruments and tools. Gold is considered an item that is never to be turned away, because even if the item is of relatively low value it can still be sold in bulk to a smelter to be sold for scrap gold.

Other items that a pawnbroker will be willing to take are gemstones, stereo equipment, musical equipment, firearms, cars, and electronics. When an item is pawned the pawn broker will typically loan out however much money the customer needs, provided that it does not exceed 1/3 of the resale value of the item. This amount will vary greatly on the history that an individual pawnbroker has with a customer. for more info check out this site http://olderedford.com/