What happens if LuxeStreet’s customer default?

We structure our repurchase agreements to purchase luxury assets at roughly 65% of their appraised market value. In the event of default, we will terminate the repurchase agreement and dispose the asset on the open market, an asset that we purchased at a significant discount. We have a strong network of dealers that help inform our appraisal process and believe we will be able to dispose default assets quickly and profitably. Since our inception in June 2018, we have not had a single customer default.