Question about collateral

[pkcreativex]

Hello. I was wondering would someone would be willing to loan 1btc for a 18 karat gold wrist watch collateral? Thank you.

[Fishbones78]

Hello. I was wondering would someone would be willing to loan 1btc for a 18 karat gold wrist watch collateral? Thank you.

If someone does this for you, they will be wanting the watch first, and probably expect you to cover ALL shipping fees. Physical collateral isn't great because it is a fair bit of hassle to transfer between parties etc. Plus the watch could quite easily be fake. Good luck, but you are also a Newbie.

[stiffbud]

Someone who are willing to accept a physical good as collateral can. I think I saw someone here before who accepts physical goods. It's better if you find someone in here from your local tho to lessen the hassle of shipping the item. I doubt you will have many option tho since it's a physical good.

[xinzark]

Any goods can be a collateral if it have some stable value in the market and is not reversible
Your wrist watch can also be a collateral if you agree to pay the shipping fees which will go high than interest I think
And yeah you need to also prove that that watch is original with something like purchase receipt or similar

[Amph]

uh 18 carat is nothing, it's 0.0036 kq, which is 3.6g

28g of gold round 1200, now 1200/9 = $133 against $400+ of bitcoin, not worth it

[Sharma]

uh 18 carat is nothing, it's 0.0036 kq, which is 3.6g

28g of gold round 1200, now 1200/9 = $133 against $400+ of bitcoin, not worth it

It might depend on the brand. I'm not really into jewlery and watches, but i think some brands might be worth more than their weight in gold??? Offcourse, in this case you would need a certificate or go to a good jewler to estimate the real value of the good. Which would be a hassle to do for $400.

OP, where are you from?

[SFR10]

It might depend on the brand. I'm not really into jewlery and watches, but i think some brands might be worth more than their weight in gold???
~Snipped~

No, your wrong, AFAIK brand has nothing to do when it comes to jewelry but it's weight and material used on it (this is how it is here in my country of residence).

Hello. I was wondering would someone would be willing to loan 1btc for a 18 karat gold wrist watch collateral? Thank you.

As mentioned by Amph, it's value is way lesser than what your asking for and collateral's used for loans should have more value than the loan itself, something around 20 to 30% more worth is the ideal thing in order to protect the lender.

[n0ne]

This seems to be a good collateral, but how to have complete trust whether the watch is pure 18 karat gold. Only after confirming it further transactions can be made that's better.

[Sharma]

It might depend on the brand. I'm not really into jewlery and watches, but i think some brands might be worth more than their weight in gold???
~Snipped~

No, your wrong, AFAIK brand has nothing to do when it comes to jewelry but it's weight and material used on it (this is how it is here in my country of residence).
~Snipped~

I'm a bit out of my league here, because i know nothing about jewlery. This is why i googled a bit:

http://www.ebay.com/gds/How-Much-Gold-Is-Really-In-A-Rolex-Watch-/10000000001632748/g.html
apparently, according to this gent's calculations, there is about $1000 worth of material in a rolex president, the retail value is little over $26.000

Do you mean, that when somebody came to you with a rolex president with certificate of authority, certified by a second jewler you totally trust, you'd offer him a $700/$800 loan with his $26k watch as collateral?


The collateral the OP is offering is also 18 carat (like the rolex president). This means it's value COULD be less than $1000 (if it's an unknown brand, and it doesn't contain a lot of 18 carat gold). But if he's trying to give a prestigious watch as collateral, it might be worth up to $26k (or even more... I know rolex is expensive, but i heared there are even more expensive watches out there)

http://www.watchtime.com/blog/million-dollar-watches/