PWCC expands its lending activities

[mrreality68]

Originally Posted by raulus

Unless I’m misunderstanding the offer, you would still need to put 40% down up front. Obviously 40% is less than 100%, but for nice pieces that don’t come cheap, it might be similarly challenging to come up with 40% as to come up with 100%.

If you’re not buying from PWCC directly, it’s also unclear to me whether PWCC would front you the cash to buy it from someone else. If you’re buying an item from another auction house, then I suspect you would need to pay 100%, have it shipped to the vault, and then you could borrow the 60% against it.

Bottom line is that I’m not sure that it solves the problem of coming up with the cash to pay for the item in the first place.

Now, if you had a bunch of items in the vault, and you wanted to go out and buy some more, then borrowing against the items in the vault definitely could solve the problem of coming up with cash to make the original purchase for your new item(s).

Hi

I am sure you do not have to put money down to borrow money. Basically they will loan you up to 60% of the value of your cards that you have in their fault. This way if you default on the loan they have your cards already but can take possession of it and then sell it. And the 40% covers them and their expenses and the loan plus interest you have paid if you did not default