trium
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Post by trium on Jul 23, 2021 17:38:10 GMT
[Yes, it looks like the loans are getting filled much quicker than before I suppose that's inevitable as more lenders join up and portfolios start to build up, which causes me concern for future as I intensely dislike the Fastest Finger First scrummage we used to see on small loans (particularly bling) on FS. I suppose, since this is basically the phoenix rising from FS, I have little hope of being listened to but would it not be better if we had 24 hours to submit bids? Each bid would be queued according to the time it was made. When the 24 hours is up the system weeds out unfunded bids (should be enough time to transfer funds) and begins allocating £25 loan parts to the queued bids. If it reaches the end of the queue it starts allocating a second £25 to those who requested £50 or more and so on, until the loan is filled or the queue is satiated. Any remaining loan parts would then become available for subscription as now.
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Post by df on Jul 23, 2021 23:01:52 GMT
[Yes, it looks like the loans are getting filled much quicker than before I suppose that's inevitable as more lenders join up and portfolios start to build up, which causes me concern for future as I intensely dislike the Fastest Finger First scrummage we used to see on small loans (particularly bling) on FS. I suppose, since this is basically the phoenix rising from FS, I have little hope of being listened to but would it not be better if we had 24 hours to submit bids? Each bid would be queued according to the time it was made. When the 24 hours is up the system weeds out unfunded bids (should be enough time to transfer funds) and begins allocating £25 loan parts to the queued bids. If it reaches the end of the queue it starts allocating a second £25 to those who requested £50 or more and so on, until the loan is filled or the queue is satiated. Any remaining loan parts would then become available for subscription as now. Still not a lot of lenders (about 38 at a glance for the Clock loan), but some hefty punts.... I agree, if CL becomes more popular there will be no chance getting anything unless you are there on a dot. On FS, MT and Col pawn loans used be filled within seconds. Do you mean pre-funding similar to what Saving Stream (Lendy) used to do? That was an inclusive feature, but I can't see how queueing according to the time pre-funding was made would be beneficial to those who are unable to pledge fast enough. I'm not sure what the answer is, but making the system more complicated may have some drawbacks. UB's procedure works well, but their loan flow is significantly larger than CL's. It will probably take a while for CL to figure out the system that can please most of investors and borrowers. £2050 is still available in the most unpopular tranche B, so we can't really complain about FFF yet It could be that "3-tranche" system is not the best model, the middle one doesn't look very attractive so far - a bowl of leftovers. Arguably this loan could fill by now if the middle choice wasn't there.
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trium
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Post by trium on Jul 24, 2021 12:43:51 GMT
I can't see how queueing according to the time pre-funding was made would be beneficial to those who are unable to pledge fast enough. The system I'm advocating would spread loan parts across more lenders and prevent large bids from soaking up availability. You would stand a better chance of getting at least one £25 loan part. You would only get a second part if there was enough left in the loan to go through the queue a second time. Same for a third part, and so on. I dare say larger lenders would feel aggrieved if they can't get what they asked for but they'll still get something
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jcb208
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Post by jcb208 on Jul 24, 2021 19:15:29 GMT
Gave the clocks a miss, had a flash back to FS and decided no
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Post by df on Jul 25, 2021 19:24:45 GMT
I can't see how queueing according to the time pre-funding was made would be beneficial to those who are unable to pledge fast enough. The system I'm advocating would spread loan parts across more lenders and prevent large bids from soaking up availability. You would stand a better chance of getting at least one £25 loan part. You would only get a second part if there was enough left in the loan to go through the queue a second time. Same for a third part, and so on. I dare say larger lenders would feel aggrieved if they can't get what they asked for but they'll still get something This model would be perfect for me No doubt it will please small investors, but as you said it will also annoy the other half - most people who can chuck say 2.5k into a loan like this wouldn't lift their finger to chase £25 entitlement and then go through another process of hunting for crumbs. Would you do it for a chance to get 25p loan part? As it looks so far, most loans won't fill without larger investors. Can't have a model that will please everyone
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Post by df on Jul 25, 2021 19:32:30 GMT
Gave the clocks a miss, had a flash back to FS and decided no I recall being in a similar looking clock loan on FS at some point. What happened to it, was it a loss?
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nyneil
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Post by nyneil on Jul 25, 2021 22:50:15 GMT
Gave the clocks a miss, had a flash back to FS and decided no I recall being in a similar looking clock loan on FS at some point. What happened to it, was it a loss? If you are thinking of 2107291381 Collection of French Clocks, it repaid on 29/05/20.
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Post by overthehill on Jul 26, 2021 8:44:46 GMT
I recall being in a similar looking clock loan on FS at some point. What happened to it, was it a loss? If you are thinking of 2107291381 Collection of French Clocks, it repaid on 29/05/20.
That's another one scored off the outstanding loans ! Didn't like the look of many of these items, predominantly the valuations.
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Still got these listed , were they repaid ? In fact are there any pawn shop items left ?
Military items + clocks
9114684713 2240243169
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Post by df on Jul 26, 2021 9:05:23 GMT
If you are thinking of 2107291381 Collection of French Clocks, it repaid on 29/05/20.
That's another one scored off the outstanding loans ! Didn't like the look of many of these items, predominantly the valuations.
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Still got these listed , were they repaid ? In fact are there any pawn shop items left ?
Military items + clocks
9114684713 2240243169
Remaining 14.4% of "Military items" is the only one left on my list. The borrower was gradually selling the items and repaying. All my other pawn shop items have been repaid a while ago.
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Post by mfaxford on Jul 26, 2021 9:34:59 GMT
The system I'm advocating would spread loan parts across more lenders and prevent large bids from soaking up availability. You would stand a better chance of getting at least one £25 loan part. You would only get a second part if there was enough left in the loan to go through the queue a second time. Same for a third part, and so on. I dare say larger lenders would feel aggrieved if they can't get what they asked for but they'll still get something This model would be perfect for me No doubt it will please small investors, but as you said it will also annoy the other half - most people who can chuck say 2.5k into a loan like this wouldn't lift their finger to chase £25 entitlement and then go through another process of hunting for crumbs. Would you do it for a chance to get 25p loan part? As it looks so far, most loans won't fill without larger investors. Can't have a model that will please everyone I think the suggestion was that the big investors could put in a larger bid and at the end of the initial period the system would then allocate fund from all lenders up to their maximum. So for the clocks loan anyone bidding in the A & B tranches may well have reached their maximum. But it would have given more people a chance at C. For the larger investors I wonder if part of the reason for large sums is the fastest finger first issue. It might be easier to get £3000 on one loan than getting in the FFF race for £500 over 6 loans (an algorithm like this might help that). The way I assumed it might work is for a £1000 tranche: - 10 lenders each bid £25
- 2 lenders bid £100
- 1 lender bids £250
- 1 lender bids £500
(total bids are £1200 so over subscribed) First pass would take £25 for each person, then continue taking £25 from anyone with funds left until the loan is filled. In the above example most lenders would get to their maximum, the only lender that misses out is the person bidding £500 as they'll only loan out £300) The other solution I wonder about would be limiting investments to 5% or 10% of the tranche total for the first 24 hours. But that could annoy the larger lenders more.
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nyneil
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Post by nyneil on Jul 26, 2021 11:27:06 GMT
If you are thinking of 2107291381 Collection of French Clocks, it repaid on 29/05/20.
That's another one scored off the outstanding loans ! Didn't like the look of many of these items, predominantly the valuations.
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Still got these listed , were they repaid ? In fact are there any pawn shop items left ?
Military items + clocks
9114684713 2240243169
9114684713 (Military Items and Clock): 45% loss. final payout on 12/10/20 2240243169 (Military Items and Clocks): 67% returned so far. Last update on 30/04/2021: The borrower has continued to redeem the assets for their full value. The Joint Administrators have set a deadline of 31 May 2021 for the borrower to redeem the remainder of the assets, following which the assets will be entered into suitable auctions for sale. At least it sounds like FS actually have the items (on this occasion).
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trium
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Post by trium on Jul 26, 2021 11:46:57 GMT
mfaxford - yes that's exactly what I'm suggesting. It's harder to explain than it is to implement. AC actually operate a similar system whenever buyers are requesting more than is available and whenever sellers are offering more than buyers are currently seeking.
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Post by df on Jul 26, 2021 12:23:20 GMT
That's another one scored off the outstanding loans ! Didn't like the look of many of these items, predominantly the valuations.
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Still got these listed , were they repaid ? In fact are there any pawn shop items left ?
Military items + clocks
9114684713 2240243169
9114684713 (Military Items and Clock): 45% loss. final payout on 12/10/20 2240243169 (Military Items and Clocks): 67% returned so far. Last update on 30/04/2021: The borrower has continued to redeem the assets for their full value. The Joint Administrators have set a deadline of 31 May 2021 for the borrower to redeem the remainder of the assets, following which the assets will be entered into suitable auctions for sale. At least it sounds like FS actually have the items (on this occasion). The one I have is 1013434811 (renewal of 6334081637) - 85.6% of capital was repaid (that's after CG and FS fees). I wonder if there was a series of "military" loans to the same borrower...
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trium
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Likes: 304
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Post by trium on Jul 26, 2021 13:17:23 GMT
The last remaining parts in the clock loan have now gone - probably to one person
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trium
Member of DD Central
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Likes: 304
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Post by trium on Jul 26, 2021 19:31:47 GMT
New launch 10am tomorrow.
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