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Shadrochs buy and sell service.

Started by shadroch,

26 posts in this topic

shadroch

shadroch

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As many of you know, in the past I have operated what was basically a pawn business for comics. That was when I was in New York. Now I'm based out of Nevada and the laws here are a bit different. I can no longer lend money on comics.

However, starting October 1st I am offering a Buy Sell service. It works like this. I will buy your CGC books for 30% of GPA and at the same time give you a contract enabling you to buy back the exact same book at 50% anytime within sixty days. If you need the money for longer than sixty days, we can modify the contracts.

This is not cheap, but it's designed to help people that find themselves in a cash bind to not have to sell for pennies on the dollar.

All transactions fully confidential.

Service begins October 1st.

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shadroch

shadroch

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GPA is locked in at purchase.

It's only for people who need cash and don't want to sell their books. If you want to sell or consign, this isn't for you.

If your car breaks down and you face the need to sell a few beloved books in a hurry, this might be a way to go.

I haven't and don't intend to get rich off this, but I know I've helped a few folks here.

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shadroch

shadroch

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400% interest?

 

Math is hard.

 

60-day transaction

Gpa = $1,000

I sell to you for $300

You sell back to me for $500.

Interest was $200 on a $300 loan. 67%. For 2 months.

12 months in a year.

.67*6 (annual rate) = 402%

 

You are looking at it as a loan. It isn't. It's two separate transactions. The profit is built into the initial transaction. If the loan goes longer, the monthly cost goes down.

I buy your book for $300 and you have the right to buy it back anytime in sixty days for $500. If you need longer, you can extend the time another two months for a $10 fee. Need more time after that, another $10 buys you two more months. So in six months, you'd pay $540 total for your book. After six months, it goes to $10 a month to extend.

Or you can sell your book now ,fix the car and eventually buy a different copy

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CAHokie

CAHokie

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You are looking at it as a loan. It isn't. It's two separate transactions. The profit is built into the initial transaction. If the loan goes longer, the monthly cost goes down.

 

Paging Dr. Freud

 

lol

 

Dang, nice pickup on that one!

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comix4fun

comix4fun

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400% interest?

 

Math is hard.

 

60-day transaction

Gpa = $1,000

I sell to you for $300

You sell back to me for $500.

Interest was $200 on a $300 loan. 67%. For 2 months.

12 months in a year.

.67*6 (annual rate) = 402%

 

You are looking at it as a loan. It isn't. It's two separate transactions. The profit is built into the initial transaction. If the loan goes longer, the monthly cost goes down.

I buy your book for $300 and you have the right to buy it back anytime in sixty days for $500. If you need longer, you can extend the time another two months for a $10 fee. Need more time after that, another $10 buys you two more months. So in six months, you'd pay $540 total for your book. After six months, it goes to $10 a month to extend.

Or you can sell your book now ,fix the car and eventually buy a different copy

 

 

You've already established what this is. No need to reinforce it in every post. (thumbs u

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Aman619

Aman619

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I gotta say that this sounds very one sided... And not early doing the seller a favor. You have a win win scenario: if they wanna buy their book back, you get 20% GPA. If they dony buy it back you keep the book at a 70% discount!

 

How is this helping anybody in a jam? They are in a jam and helping you!

 

No offense meant, but if you wanna help fellow collectors when they need cash, buy the book for 70% and deal with selling it back later. This way, you steal the book, and seller gets a decent return in cash to get out of a jam.

 

You can always vary the buying % based on the book itself, paying full 70% for AF15 and hot books or keys, and as low as your 30% for illiquid crud.

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shadroch

shadroch

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I gotta say that this sounds very one sided... And not early doing the seller a favor. You have a win win scenario: if they wanna buy their book back, you get 20% GPA. If they dony buy it back you keep the book at a 70% discount!

 

How is this helping anybody in a jam? They are in a jam and helping you!

 

No offense meant, but if you wanna help fellow collectors when they need cash, buy the book for 70% and deal with selling it back later. This way, you steal the book, and seller gets a decent return in cash to get out of a jam.

 

You can always vary the buying % based on the book itself, paying full 70% for AF15 and hot books or keys, and as low as your 30% for illiquid crud.

 

It's an option for someone who is in a situation where they need cash and don't want to sell their books. I've already said it's not for everyone and it's not cheap. The people who have used the service in the past seemed happy. I only had one default and recently have had a couple enquiries.

I don't want the books. If I end up with them, the deal went south.

Ill give you the basics of a successful transaction. A forumite who is divorced was scheduled to take his kids to Disney but financial concerns popped up. He put up his Avengers 1, got the money for his vacation and had six months to redeem his book.

 

If you want to improve on my offer and start your own service, feel free.Competition is good.

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