Excelsior

Dear All,

I want to introduce to you a nifty idea, which I do not know if it will work, but thought I’d give it a try and it will be a work in progress (please send me any suggestions you may have, positive or negative). Since in every real world economy, the level of economic development of each country depends on the size and penetration of the banking system, I therefore want to introduce you to “The Player Bank of Excelsior”. The idea is for the Player Bank to loan gold to any player that meets the loan specifications at the set terms and conditions (located in the book at the bank). The idea is for mostly new and medium leveled players to pawn items they may have acquired (that they already have or may need at a later point in time) in order to obtain gold instantaneously to purchase items that could help them reach the next level. For example, a player may obtain a Power Scroll 120 Archery (valued at 2 million gold) and a Power Scroll 120 Mining (valued at 1 million gold) from doing champs, but is already at 120 in each skill. Instead of waiting for it to sell on a vendor or selling at a low price, now he or she could go to the Bank and pawn both items, and receive 1.5 million gold instantly. This could mean one step closer at purchasing the batwings, SOT or GOC piece he or she was missing. In order for this to work, I have set several terms and conditions, as well as loan specifications that will need to be followed closely. If all works well, it will create a greater flow of gold within the UOEX economy, benefitting all levels of players with the purchase of more items from players and vendors.

I want to make it very clear that the bank relies on the honesty and integrity of both parties (myself and the counterparty). The Bank will be run by me and the GMs are not involved. Any issues or problems will need to be resolved by the two parties without the needs of GMs going through journals to verify any wrongful doings. We all know they are sufficiently busy with the new facets, events, etc. All transactions will be recorded and “signed” by both parties. Screenshots of local chat will be made to record transactions.

You can find the Player Bank by going through the top floor house gate(south side) with the echee named “BANK” on it. Details can be found in the purple books on the teller counter. If you are interested in a loan please [pm Alejandro with the loan amount and collateral items. I will respond as soon as I am available.

Summary Terms and Conditions:
- 5% weekly interest rate (compounded weekly)
- 250,000 gold minimum loan amount, 3.0 million gold maximum loan amount
- 1 week minimum loan tenor
- 10 week maximum loan tenor (items held longer will foreclosed and sold to the highest bidder)

Loan Specifications:
- Minimum collateralization of 2:1 (i.e. Spirit of the Totem valued at 2 million -> maximum loan amount 1 million)
- Players that have failed to repay loans 3x are no longer eligible to receive loans
- Only certain items are accepted as collateral (see book for details on the values of items)

Let’s give it a shot and see it how it goes. I am interested in your feedback and suggestions. Remember this is an experiment and probably not perfect. If it has traction, I will keep doing it, otherwise it was an honest attempt. I think 5% is a very modest rate (considering an endless supply of gold and countless possibilities of farming). Most importantly it is there to help newer and mid-level players get the gold necessary to reach the next level.

Also don’t forget to view the foreclosed items that will be displayed in the bank and sold at “discounted” prices.

Alejandro

I like it but I'm sure there will be haters.

bump

Cool idea I love stuff like this

《WOLF》

I like the idea, my buddy Edrik did a few loans like that, was thinking of mainstreaming in. But then he never did.

The concept of this is great but I don't like the sound of it in the long run. It attempts to put a hard price value on items that go up and down in value. It might just be easiear to make a Pawn Shop rather than become a loan shark. you pawn something for x value and you have say 30 days to pay the loan back with a set interest rate ... after 30 days item is forfit and becomes your property ... also have a sell outwright option at a value that will still allow you to re sell it even with market flux to make a profit... ( not the larger amount you have currently quoted ) ... otherwise you may get a influx of the same item and be unable to sell them afte a while otherwise ... just have a .. .sorry I'm not interested in that at this time i have x of them already in stock ...

A pawn shop idea .. much better overall than what you have outlined now .

lestatzero wrote:A pawn shop idea .. much better overall than what you have outlined now .

It is a pawn shop and he's calling it a bank. He has to use his brain and pay attention to the world economy just like a real pawn broker does to make sure that he's making good decisions. Doesn't put a hard price on anything, if he thinks a Jackal's is worth 2 mil and loans a mil on it and both parties are happy it's a good deal. I can then be rude and sell one for 500k since I have a dozen or so laying around, thereby changing the value of them and causing him to lose money on the deal. I wish it would put more of a hard price on things since I miss the days when farming ointments, elven notes, imps and numberous other items were actually useful.

Good luck, Alex.

Let's keep it polite folks. One's opinion of what is a "better" idea is not necessarily a fact and stating it as such is disrespectful to the original poster.

Alex, I like the idea and I also like that you are essentially doing a UO version of Pawn Stars, but not calling it that. Many people are turned off by the idea of a pawn shop, but would utilize the service. I do hope that it works out for you, I always enjoy seeing creative new ideas for the game. I also hope it doesn't end up causing me more headaches >.>

Edit: And make sure whenever you're negotiating the value of an item you hem and haw about how you gotta frame it. That always works on Pawn Stars.

*insert the Rick Harris laugh here*

NME wrote:

Is that a fat dog or a morbidly obese cat? While we're on the topic http://youtu.be/jofNR_WkoCE.

This dog requires no Photoshop.




- Bumps should include adorable animal photos.

Well Adjusted New Players Please Read Original Post Above

That fat cat/dog hybrid scares me.

Cornbread wrote:That fat cat/dog hybrid scares me.

It's clearly a dog