DigiPawn.COM

[droplister]

i pitched my entire DN portfolio to them, probably wont buy it but it was worth a shot,

Take a chill pill JupiterPark

 

[seeker]

We've done thousands of cash advances but most people won't want to admit they are customers. We have pretty strict confidentiality so we'll see if anyone responds.

why would a happy customer not want to admit they are a customer?
I mean, I wouldn't admit being a customer about something I may be embarassed about, like being a customer of the local hot diva that takes $300 per hour for her services, but I can't see many cases in which I would be reluctant to admit as being a customer unless I am too embarassed to admit I am a customer because the reputation of the company I am dealing with is questionable.
Not implying anything directly about digipawn, I just cant understand the above reply.

 

[Rick Latona]

why would a happy customer not want to admit they are a customer?
I mean, I wouldn't admit being a customer about something I may be embarassed about, like being a customer of the local hot diva that takes $300 per hour for her services, but I can't see many cases in which I would be reluctant to admit as being a customer unless I am too embarassed to admit I am a customer because the reputation of the company I am dealing with is questionable.
Not implying anything directly about digipawn, I just cant understand the above reply.

We are a pawn shop. I'm just saying that some people don't want others to know.

 

[DNjet]

Seeker , I think he means it would be embarassing to reveal that you really needed cash bad and took a deal with this guy.

scenario:

30 day loan
10% of "resseller value"
premium domain is $5,000 wholesale value = $500 30 day loan
can't pay it back in time
loose domain to pawny
pawny gets $15,000 end user domain for $500

= EMBARASSING

 

[seeker]

ah ok. sorry, I didnt see that.

 

[financialtraffic]

ah ok. sorry, I didnt see that.

Do some of you not know what 'Pawn shop' means?
Haven't you ever heard of someone, or seen a TV show where someone pawns their gold Rolex or a Wedding band (eek)?

They aren't getting top dollar for it, that's for sure. They are getting cash based on only a small percentage of the items value. Why? Because of necessity. If something happens and you need money fast, and your family isn't there to help you out, then you may need a Pawn shop. I personally have too many safety nets to ever need a Pawn shop.

But my opinion is that everyone should stop attacking Rick and Digipawn.com, because he is doing exactly what the name of his business suggests. If you need the service, it's there. If you don't need it, then why waste time complaining about it?

Also, Rick, I think many users are confused because they really don't know what a Pawn shop does. That is why you are probably getting a lot of domain lists from users who are simply trying to sell their domains for retail value.

 

[seeker]

I am sure we all know what a pawn shop is. at least the ones commenting here.
for me, I didnt realize why it was embarrassing to some until the example was given above.

 

[Dale Hubbard]

Yes, we probably all know what it means. What it pays (or rather values a domain for the purposes of an advance) is more interesting I think.

 

[financialtraffic]

Yes, we probably all know what it means. What it pays (or rather values a domain for the purposes of an advance) is more interesting I think.

Well I saw some comments about sending domains "for sale" not to pawn. That's what lead me to believe some aren't really sure what it means to pawn something. I wasn't meaning this as an insult to anyone, just that it seems there is some confusion about what Rick /Digipawn does.

 

[Dale Hubbard]

I think he buys outright or will make an advance.

 

[namewaiter]

I agree with financialtraffic .. most people thought it meant they could get some money upfront for domains and then if they sell, pay it back plus a little 'vig' not really looking at it as a last resort type proposal

 

[Rick Latona]

Just to let everyone know, I'm leaving Amsterdam tomorrow and will get caught up on all new applications. I apologize for the delays.

 

[DavidAusman]

Also, Rick, I think many users are confused because they really don't know what a Pawn shop does.

I dont think people dont undestand what the meaning of 'Pawn'. I beleive that some of DNforum user isnt satisfied with how the rules are made and how they are lured to pawn their names.
Beign emailed for their domain name listed in Greatdomains.com! :cheeky:

 

[Domagon]

Seems to me a related, but better business would be operating a licensed financial institution which accepted domain names as collateral for loans.

DigiPawn is a good idea, but seemingly only half-way there; their tactics of bulk spamming is indicative, in my view, that their business is flawed - if they could do regular loans they'd have tons of business - much of it by word of mouth.

Ron

Addendum ... to digress a bit, but related ... escrow.com has never sent out bulk email (spam) to the best of my knowledge and yet they get lots of business ... why... because escrow.com serve a need that few others can; truly innovative businesses tend to thrive on word of mouth alone ... end of tirade.

Ron

 

[StockDoctor]

Blanket emailing the Great Domains list was the wrong approach. Bad business decision for Digipawn, as a bunch of those names listed by Great Domains aren't worth 10% of their listed prices anyways. Take the .TV (television) crap for example. After a review anyone who has a clue would turn down a lot of them for loans as well. Not only that, but a lot of Domainers fall in love with their crap names and are offended when others don't agree on their "obvious" value. Saying that, Digipawn could go a lot farther to outline what their qualifications for financing are and give some examples of what a domain category might bring in a 30 day loan. For example: 3 letter coms can expect to have a value range of $x,xxx to $xx,xxx and bring a loan value for 30 days of $xxx.
Also, they might encourage (reward) some satisfied customers to go on the record outlining a typical transaction. It would be good for them to post their TOS or loan agreement so Domainers can look over what the scoop is on the service. Is there a confidentiality caluse that prevents customers from disclosing transaction details? Seems to me that when starting a new financial service based on domain equity (good idea) it would be good to be as transparent as possible. Non-disclosure may put the power and decision completely in the hands of the lending (read pawn) company, but at the same time may frustrate the customers (read domainers) and significantly reduce the amount of business attracted.

Of course the rest of the industry (registry, registrars, drop/auction services) treat us like crap, so why should the new industry players feel like they have to treat us (read cattle) any differently?
Doc

 

[Theo]

Am I the first one to receive unsolicited email (spam) from them?

The email it was sent to was pinched straight off the WHOIS - I changed the email address no more than 5 days ago!

+++

Hi! I saw your domain *****.com for sale. We can advance you money for
your domain if you are not really interested in selling it.

Please visit www.digipawn.com and know how your asset can work for you.

Thank you.

Kissinger V. Reyes
DigiPawn.com

 

[Domagon]

Interesting you mention that RADiSTAR ... I too received a similar spam yesterday from DigiPawn as well for my domain Fingerprinting.com

So Rick ... so how much ARE YOU OFFERING for Fingerprinting.com ... yes, please answer here publicly so folks have an idea as whether your service is for real or B.S.; worthwhile?...

To date, I'm not aware of anyone actually pawning a domain for any meaningful amount through your Digipawn service - so far most of what I ever hear when I mention DigiPawn to others are complaints about DigiPawn spam.

Ron

p.s. below is an excerpt of the email header - so National-Net is a spammer haven?... shame, since I'd heard they were a decent service ... guess not? - anyways, here are the headers:

Received: from [66.115.129.68] ([66.115.129.68]:63164 "EHLO mx4.mail.national-net.com") by lmg16.affinity.com with ESMTP id S534184AbVISBJn; Sun, 18 Sep 2005 18:09:43 -0700
Received: from nat59.national-net.com (nat59.national-net.com [::ffff:66.115.130.59]) by mx4.mail.national-net.com with esmtp; Sun, 18 Sep 2005 21:09:43 -0400
Received: from localhost ([127.0.0.1] helo=www.mynatmail.com) by nat59.national-net.com with esmtp (Exim 3.36 #1 (Debian)) id 1EHAAB-0002Fi-00 for <[email protected]>; Sun, 18 Sep 2005 21:09:43 -0400
Received: from 203.177.138.50 (SquirrelMail authenticated user [email protected]); by www.mynatmail.com with HTTP; Sun, 18 Sep 2005 21:09:43 -0400 (EDT)
Message-ID: <[email protected]>
Date: Sun, 18 Sep 2005 21:09:43 -0400 (EDT)
Subject: fingerprinting.com
From: "Kissinger V. Reyes" <[email protected]>
To: [email protected]
User-Agent: SquirrelMail/1.4.3a
X-Mailer: SquirrelMail/1.4.3a
MIME-Version: 1.0
Content-Type: text/plain; charset=US-ASCII
Content-Transfer-Encoding: 7BIT
X-Priority: 3 (Normal)
Importance: Normal
Status: RO

 

[slavahosting]

Looks like Ricks got some explaining to do...

 

[fab]

Looks like Ricks got some explaining to do...

Yes, I agree, lets see if he responds after he returns from Amsterdam.

 

[nitronet]

I never do business with spammers.