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Sim ownership noob seeking clarification on transfers


Steffan Mielziner
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I've never owned a full sim before, but I finally decided today that I'd pull the trigger on that.  Of course, it seems that full private regions are not being allocated until the cloud deploys to AWS and Google are stabilized ... estimated to be a few months away yet.  My luck.  It seems that people sometimes put their full sims up for sale here.  So, being a complete noob at sim ownership and transfers, I wanted to make sure I understand this process before I even think about throwing large amounts of cash around.

Please correct me if my understanding here is wrong ...

Full private sims started, years ago, at a monthly maintenance fee of USD$195.  At some point, a bunch of new servers were deployed and the fee went up to USD$279 for new sims.  Everyone that already had a sim was "grandfathered" (aka GF) at that lower original price.  Then, the grandfathered monthly fee dropped from USD$195 to USD$179 and the regular/non-grandfathered (aka non-GF) dropped from USD$279 to USD$229.  Linden Labs will honor the GF monthly fee, if the sim was GFed, during a transfer for a transfer fee of USD$300.  Otherwise, the transfer fee from non-GF to non-GF or GF to non-GF is USD$100.  The seller and buyer need to both submit support tickets to effect the transfer.  The seller pays the transfer fee from the buyer's payment in L$.  Therefore, the agreed upon purchase price must exceed the L$ equivalent of the transfer fee at the current market exchange rate.  The purchase price is stated and agreed upon in $L.  The buyer needs to have that amount of L$ available in their account at the time the support tickets for selling/purchasing are submitted.  The date of collection of the monthly fee is non-modifiable and must be available as L$ in the owner's account.

Example:

Full GF Sim w/ a selling price of L$80,000 and intent of keeping GF status:

     Seller proceeds:   L$80,000 - L$75,000 (USD$300 fee x ~L$250/L$ exchange) = L$15,000

Full non-GF Sim w/ a selling price of L$35,000:

     Seller proceeds:   L$35,000 - L$25,000 (USD$100 fee x ~L$250/L$ exchange) = L$10,000

 

Thanks,

Steff

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Well, more like $1675 to buy and $195 tier originally.

Then went to $1000 to buy and $295 tier.

and then dropped from that point over the last couple of years.

As for sales I’m sure they are done in USD. Not linden. I wouldn’t trust anyone to pay them that amount in linden on good faith. I’m sure that the sale comes from the USD balance on your account and is then transferred to the seller upon completion of the region being transferred into your name

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14 hours ago, ItHadToComeToThis said:

Well, more like $1675 to buy and $195 tier originally.

Then went to $1000 to buy and $295 tier.

and then dropped from that point over the last couple of years.

As for sales I’m sure they are done in USD. Not linden. I wouldn’t trust anyone to pay them that amount in linden on good faith. I’m sure that the sale comes from the USD balance on your account and is then transferred to the seller upon completion of the region being transferred into your name

The purchase price of $1675 lasted much longer, well into the times of $295 per month.

 

The official transfer ticket system used to accept both $US and L$ for the region price and transfer fee, not sure how that is today, I haven't used it in a looooong time. And as long as the system is used for all parts of the transfer, being paid in L$ is just as save as in $US.

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On 8/13/2020 at 5:11 PM, Steffan Mielziner said:

I've never owned a full sim before, but I finally decided today that I'd pull the trigger on that.  Of course, it seems that full private regions are not being allocated until the cloud deploys to AWS and Google are stabilized ... estimated to be a few months away yet.  My luck.  It seems that people sometimes put their full sims up for sale here.  So, being a complete noob at sim ownership and transfers, I wanted to make sure I understand this process before I even think about throwing large amounts of cash around.

Please correct me if my understanding here is wrong ...

Full private sims started, years ago, at a monthly maintenance fee of USD$195.  At some point, a bunch of new servers were deployed and the fee went up to USD$279 for new sims.  Everyone that already had a sim was "grandfathered" (aka GF) at that lower original price.  Then, the grandfathered monthly fee dropped from USD$195 to USD$179 and the regular/non-grandfathered (aka non-GF) dropped from USD$279 to USD$229.  Linden Labs will honor the GF monthly fee, if the sim was GFed, during a transfer for a transfer fee of USD$300.  Otherwise, the transfer fee from non-GF to non-GF or GF to non-GF is USD$100.  The seller and buyer need to both submit support tickets to effect the transfer.  The seller pays the transfer fee from the buyer's payment in L$.  Therefore, the agreed upon purchase price must exceed the L$ equivalent of the transfer fee at the current market exchange rate.  The purchase price is stated and agreed upon in $L.  The buyer needs to have that amount of L$ available in their account at the time the support tickets for selling/purchasing are submitted.  The date of collection of the monthly fee is non-modifiable and must be available as L$ in the owner's account.

Example:

Full GF Sim w/ a selling price of L$80,000 and intent of keeping GF status:

     Seller proceeds:   L$80,000 - L$75,000 (USD$300 fee x ~L$250/L$ exchange) = L$15,000

Full non-GF Sim w/ a selling price of L$35,000:

     Seller proceeds:   L$35,000 - L$25,000 (USD$100 fee x ~L$250/L$ exchange) = L$10,000

 

Thanks,

Steff

Correct.  Although if you can find someone willing to sell a grandfathered region for $L80,000 AND absorb the transfer fee...GRAB IT!  Likewise a non-grandfathered region at $L35,000.  With no new private regions available from LL at present, I would expect asking prices for private regions, both grandfathered and non-grandfathered, to be MUCH higher.

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On 8/15/2020 at 1:02 AM, ItHadToComeToThis said:

As for sales I’m sure they are done in USD. Not linden. I wouldn’t trust anyone to pay them that amount in linden on good faith. I’m sure that the sale comes from the USD balance on your account and is then transferred to the seller upon completion of the region being transferred into your name

When I sold a region 3 weeks ago the purchase price was required by LL to be in Linden dollars (the transfer fee was still accepted in USD).  Things could have changed since then, of course, but it's wise to study the Linden dollar market for a reasonable equivalent cost.

Edited by Garnet Psaltery
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