A possible solution

[bubu]

A thought ......possible idea!

RWG PAWNSHOP

Too many good members are experencing hard times and selling their beloved watches. RWG can establish it's own pawnshop where a member could sell to the pawnshop and the shop could hold the watch for a specified time and receive a commission upon receiving or then sellling the watch.

This way the member could then repurchase this watch when times are better or allow RWG to sell it.

Details to be worked out. A win-win for RWG and our members

What are your thoughts.

[KB]

Well the first thought is....where does RWG get the money to operate a pawn shop?

Ken

[bubu]

Start small.... Start with donations, ask for contributions to save our watches.

Could even issue shares in a general venture.

Obstacles can be overcome with a community effort

[Watchmeister]

IMHO, nice thought but totally impractical. A watch is only worth what someone is willing to pay for it at that time. And a pawnshop only exists to make a profit (or even in a charitable sense make enough money to continue operating). RWG has no capability to act as a warehouse for sellers watches and I don't believe many people will want to buy their watch back at the end of the day.

[Corgi]

Good idea, bubu... but what about shipping and international customs problems? With the danger of scammers and the possibility of members crying foul I would be afraid to start such a project myself.

[KB]

The other point is that we have 15,000 members if only a few hundred want to pawn their watches we are talking much bigger money than this board has ever held at one time, so..

1) History shows we wont have a chance of raising the cash

2) How do we decide who gets to use the service and who misses out.

3) Would you be comfortable with say me holding on to 50 members watches at a min of $350ea value?

Ken

[Corgi]

3) Would you be comfortable with say me holding on to 50 members watches at a min of $350ea value?

I find you to be relatively trustworthy, so that wouldn't bother me at all, Ken, but what happens when it comes time to ship those 50+ watches back home? Who gonna pay for that - and take the risk of getting a knock on the door from the local Polizei?

[CY0811]

not plausible

[Stephane]

Very generous idea but totaly impossible to do.

[robertk]

Now that's an interesting concept. An international pawn shop for forgeries.

Calling Interpol.....Come in..........

[laurencejk]

Hmm, good idea from a good samaritan point of view, but a logistical nightmare........plus we wouldn't be able to stump up the cash for upkeep, storage etc

[bvc]

No offense but if your that hard up that you have to sell a rep watch, should you be walking around with it on your wrist? I thought we only wore watches we could theoretically pull off? No point wearing a 10k Watch with no road tax on your motor?

[kbh]

I'm thinking this might work if done as a real pawnshop does.

Lets say some members that have a little extra cash are willing to provide short term loans using watches as collateral. As a pawn shop does these members are willing to loan approximately 25% to 50% of the value at a reasonable fee of say 12% per anum. The member guarantees to hold the watch for a specified time, say 6 months, after which time he can either keep the watch or put it for sale.

I've got some money to invest in some high end watches.