Any of you appraisers like this idea?
In some states PAWN companies are big businesses like FL.
Now that CA courts say Domains are property subject to property laws and lawsuits, a whole new industry could be spawned via Domain Name Pawns/Loans
Now, I don't know how many of you have ever pawned anything, but the way it works is this way.
Say a piece of jewelry has a 2K appraisal.
That mean it most likely sells for 1K to the public and wholesales for 500 as new.
A Pawn shop looks at the item as a potential used sale item for 500 like a wholesale sale.
So you get maybe 250.00 max on a piece you paid 1K to 2K for.
Now with domain names, say you get an appraisal for 1K from X company.
Y company who loans on domains may give you 50 to 100 bucks.
You have to turn over the reg to them.
You pay huge interest rates like a pawn shop rate (FL about 20% PER MONTH)
30 days you pay the loan back plus interest or you loose the name.
You pay at least the interest each month and you keep the name on hold.
This would spawn a ton of names to the pawn company.
All the defaults would belong to the company after only 30 days.
Speculators that have a ton of names they are tired of can raise some needed cash.
In other words, a whole commodites industry for domain names could be created over night.
Anyone like the idea?
AIS is about to launch one in the cayman islands.
So once they get rolling speculators know they will get the money they need within 24 hours of reg turnover to say a paypal account, etc.
It looks like a great way for a company to acquire some good names at real cheap prices.
WIN WIN for everyone
The loaner assumes the loanee doesn't want the name, so the loan is really what the loaner is willing to buy it for
Maybe the loaner say I'll loan you 50 bucks but if you want to sell now I'll give 75
Could be a huge new market
Anyone like the idea?
Anyone want to try it?
In some states PAWN companies are big businesses like FL.
Now that CA courts say Domains are property subject to property laws and lawsuits, a whole new industry could be spawned via Domain Name Pawns/Loans
Now, I don't know how many of you have ever pawned anything, but the way it works is this way.
Say a piece of jewelry has a 2K appraisal.
That mean it most likely sells for 1K to the public and wholesales for 500 as new.
A Pawn shop looks at the item as a potential used sale item for 500 like a wholesale sale.
So you get maybe 250.00 max on a piece you paid 1K to 2K for.
Now with domain names, say you get an appraisal for 1K from X company.
Y company who loans on domains may give you 50 to 100 bucks.
You have to turn over the reg to them.
You pay huge interest rates like a pawn shop rate (FL about 20% PER MONTH)
30 days you pay the loan back plus interest or you loose the name.
You pay at least the interest each month and you keep the name on hold.
This would spawn a ton of names to the pawn company.
All the defaults would belong to the company after only 30 days.
Speculators that have a ton of names they are tired of can raise some needed cash.
In other words, a whole commodites industry for domain names could be created over night.
Anyone like the idea?
AIS is about to launch one in the cayman islands.
So once they get rolling speculators know they will get the money they need within 24 hours of reg turnover to say a paypal account, etc.
It looks like a great way for a company to acquire some good names at real cheap prices.
WIN WIN for everyone
The loaner assumes the loanee doesn't want the name, so the loan is really what the loaner is willing to buy it for
Maybe the loaner say I'll loan you 50 bucks but if you want to sell now I'll give 75
Could be a huge new market
Anyone like the idea?
Anyone want to try it?
