Topic

A big idea (with feedback wanted!)

Hi all!

So for the last few months, Sludge and I have been working on a Glitch Pawn Shop. As we're nearing being ready to release it (we're finishing up the website, and getting funds ready), we want to know your opinions on it. Here's the basic process:

1. You contact one of us in-game
2. You offer an item
3. We offer you currants for the item
4. You get the currants, and we hold on to your item. You have one month to pay us back for your item, plus some interest. (5% if paid within two weeks, 10% otherwise)
5. Once paid back, we give you back the item, and everything will be swell!

Here's our "pitch", as it is:

You're in a bidding war for a Rube Cubimal, and you're doing pretty well. SUDDENLY, someone bids more currants than you have! You know you have some nice rare items, but of course, they're rare, so you don't want to give them up. What do you do to get some currants fast, without selling your rare items? You come to the Glitch Pawn Shop, where you can pawn us an item, and we'll give you currants for it, without you losing the item! You'll pay us back later, and get your item back. Easy peasy!

This is like an alternative to selling your items, with knowing that you CAN get your item back. If you don't pay us back though, we keep your item, and sell it, so we can get our currants back.

We expect to be ready within the next two months. (depending how fast we obtain our needed currants to loan out)

Please let us know your opinions. Thanks! :)

Posted 12 months ago by Mocha Subscriber! | Permalink

Replies

  • What kind of items are you predicting people will be pawning and how does your price compare to the Tool Vendor's?
    Posted 12 months ago by TomC Subscriber! | Permalink
  • TomC: We're expecting anything from Cubimals to emblems, dolls or icons. It really depends on what everyone wants to pawn. And with prices of the Tool Vendor, we'd obviously be paying more for things like GNG Musicblocks, or rare Cubimals. It's a bit of an unfair comparison though, since the Tool Vendor is buying things from you, while we're just holding on to it, until you pay us back.
    Posted 12 months ago by Mocha Subscriber! | Permalink
  • An interesting idea, two things I'm sure you thought about but:
    1) I'm sure you have to offer a below-market value on items so that people are actually motivated to buy their item back instead of just buying a new one
    2) How available will the service be?  Considering the "Suddenly" nature of the need for money (in theory).  Ideally a Pawn Shop representative would be available 24/7

    @TomC: I assume you would only be able to pawn things that are rare (dolls, some cubimals etc) otherwise yes there would be no motivation to pay back the loan.  I don't think this is meant to be a pawn shop in the nature that it buys and sells things but more that it gives loans on collateral.
    Posted 12 months ago by Chee42 Subscriber! | Permalink
  • Chee42: Your points are very helpful. We would be giving below-market values, yes, since if the person didn't pay us back, we need to make money somehow. We hadn't actually thought of your point on availability (which is exactly why I posted for community feedback), so we'll have to work on that one.

    You're also right that is is loans on collateral, since that was our goal from the start. We're still working on our exact details, and we'll probably modify things based on the feedback we get here.

    EDIT: Great news! Sludge and I came up with a solution. For the start, we're going to have pawning hours, when you can reach us in-game to do a pawn. If we aren't available, you'll be able to tweet us, to make an appointment of sorts.
    Posted 12 months ago by Mocha Subscriber! | Permalink
  • Ah yes, I was unclear on if there were limitations on which items can be pawned for indeed people would probably not buy back the items if the value is too low. This sounds like a fun idea, best of luck with getting the initial funds!
    Posted 12 months ago by TomC Subscriber! | Permalink
  • Could your service also be used as selling assistance? For example, I know people who are casual players that have managed to get an icon and then when they learned how much tithing is required, never use it. The icons just sit and gather dust. I ask them why they don't just sell it and they don't want to go through all that hassle of posting on the forums, keeping track of the post and all the arrangements and scheduling required. I know for some of them, they'd be willing to sell theirs for a very low price to avoid that hassle. You could sell other people's items for a commission and save them from all that work! I bet a lot of people would be interested in that in addition to the pawn shop setup.
    Posted 12 months ago by Vera Mars Subscriber! | Permalink
  • Vera: That's a great idea. We're actually going to use that. Thanks a ton!
    Posted 12 months ago by Mocha Subscriber! | Permalink
  • Great idea
    Posted 11 months ago by wuilyl Subscriber! | Permalink