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    0 Replies Latest reply on Feb 12, 2009 5:47 AM by stevep

    need 85000, collateral via escrow/irrevocable credit

    stevep Newbie
      I have a customer (dealership) in Russia, they want to purchase an 05/06 Bentley for 100,000, but are expectedly unwilling to pay upfront.
      They are however ready to place the cash with Escrow or with a bank (under irrevocable credit).

      After which I buy the cars here for 75-85,000 USD. (see ebaymotors.com, GT and Flying Spur models)
      Ship.
      The escrow company releases the payment,
      The turnaround is about 6 weeks for one transaction.
      8 transactions a year
      with an average profit of (after all expenses) a minimum $10,000/transaction
      we have at least a ~100% return.

       

      Anyone interested?
      Any suggestions?
      Who should I address with this?
      What are the immidiate shortcomings of this seemingly simple/transparent and risk-free business model?

      Thank you in advance for any input and/or interest.