System and method for monitoring physical assets

• US 20070106586A1
• Filed: 11/07/2005
• Published: 05/10/2007
• Est. Priority Date: 11/07/2005
• Status: Abandoned Application

• Current Assignee: Camco, Inc. (Nevada) (FirstCash Holdings, Inc.)
• Original Assignee: Camco, Inc. (Nevada) (FirstCash Holdings, Inc.)
• Inventors: Mack, Steven
• Application Number:
  US11/268,866
• Publication Number:
  US 20070106586A1
• Time in Patent Office: Days
• US Class Current: 705/36.R
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

A system and method for monitoring physical assets. An asset is registered at a site and simultaneously appraised for value. The registered asset is periodically evaluated over time to estimate and record value fluctuations in the asset. Upon request, the asset'"'"'s current value is reported. Asset owners are periodically offered new or upgraded versions of existing registered assets, and a time and quality dependent buy-back voucher in the amount of the registered asset'"'"'s current estimated value based on the asset in question conforming to the valuation algorithm. The buy-back voucher may be redeemed at the appropriate retail establishment.

Claims

1. A system for monitoring an asset, said system comprising, in combination:

(a) a means for establishing a base value for the asset;

(b) a means for chronicling the evolution of the asset'"'"'s value as a function of time; and

(c) a means for reporting the asset'"'"'s value as a function of a plurality of external stimulants.

2. A system for monitoring an asset, said system comprising, in combination:

(a) a means for establishing a base value for the asset,

said means for establishing a base value for the asset including a plurality of questions stored in a preprogrammed asset profile to be completed during asset registration into the system, said questions including a choice of possible answers if the universe of possible answers is known, and an appraisal weighing template utilizing internal tables to estimate appraisal determinations;

(b) a means for chronicling the evolution of the asset'"'"'s value as a function of time; and

(c) a means for reporting the asset'"'"'s value as a function of a plurality of external stimulants.

3. A system for monitoring an asset, said system comprising, in combination:

(a) a means for establishing a base value for the asset;

(b) a means for chronicling the evolution of the asset'"'"'s value as a function of time,

said means for chronicling the evolution of the asset'"'"'s value as a function of time including a periodic system-generated prompt requesting reevaluation of the asset'"'"'s condition based on a plurality of preprogrammed questions regarding current asset condition, a physical display of the asset to confirm asset condition, an appraisal weighing template utilizing internal tables to estimate and record adjusted asset value determinations; and

(c) a means for reporting the asset'"'"'s value as a function of a plurality of external stimulants.

4. A system for monitoring an asset, the system comprising, in combination:

(a) a means for establishing a base value for the asset;

(b) a means for chronicling the evolution of the asset'"'"'s value as a function of time; and

(c) a means for reporting the asset'"'"'s value as a function of a plurality of external stimulants,

said means for reporting the asset'"'"'s value as a function of a plurality external stimulants including retrieval of a pre-registered asset profile, adjustment of the asset'"'"'s value based on a plurality of value modifiers, and computation and recordation of the asset'"'"'s adjusted value.

5. The system of claim 4 wherein one external stimulant requiring asset value reporting is selected from the group, including tax depreciation, natural catastrophes, home invasion, fire, divorce, death, resale, and charity donation.

6. A system for monitoring an asset, said system comprising, in combination:

(a) a means for establishing a base value for the asset;

(b) a means for chronicling the evolution of the asset'"'"'s value as a function of time;

(c) a means for reporting the asset'"'"'s value as a function of a plurality of external stimulants; and

(d) a means for offering a system registrant a different asset in place of a registered asset.

7. A system for monitoring an asset, said system comprising, in combination:

(a) a means for establishing a base value for the asset;

(b) a means for chronicling the evolution of the asset'"'"'s value as a function of time;

(c) a means for reporting the asset'"'"'s value as a function of a plurality of external stimulants; and

(d) a means for offering a system registrant a different asset in place of a registered asset,

said means for offering a system registrant a different asset in place of a registered asset including a library of currently available commercial assets, comparison and matching of assets in the library with a plurality of registered asset profiles, an appraisal weighing template utilizing internal tables to estimate and adjust the registered asset'"'"'s current value, and provision of a redeemable voucher for the registered asset'"'"'s value in exchange for title to the registered asset.

8. A system for monitoring an asset, said system comprising, in combination:

(a) a historical database; and

(b) a communication terminal,

wherein said historical database and communication terminal are operatively connected to facilitate the exchange of information regarding the asset.

9. The system of claim 8 wherein said communication terminal is programmed to receive and process information regarding the asset, to create a report of information regarding the value of the asset, and display or generate said report.

10. A method for monitoring the value of an asset, the steps including:

(a) establishing a base value for the asset;

(b) chronicling the evolution of the asset'"'"'s value as a function of time and a plurality of value influencing factors;

(c) reporting the asset'"'"'s value as a function of a plurality of external stimulants; and

(d) replacing the asset with a different asset.

11. A method for establishing the value of an asset, the steps including:

(a) registering asset information into an electronic database;

(b) creating an asset profile for the asset based upon evaluation of a plurality of questions regarding the asset'"'"'s value; and

(c) comparing said asset profile against an appraisal weighing template utilizing internal tables to formulate asset value estimates.

12. A method for electronically replacing pre-owned assets, the steps including:

(a) registering asset information into a database;

(b) creating an asset profile for the asset based upon evaluation of a plurality of questions regarding the asset'"'"'s value;

(c) comparing said asset profile against an appraisal weighing template utilizing internal tables to formulate and adjust asset value estimates;

(d) comparing said asset profile against identical or similar assets stored in a library of currently available commercial assets; and

(e) providing a system registrant with a redeemable voucher for the asset valued in said asset profile in exchange a similar currently available commercial asset.