Although not as commonplace as in other countries, more Filipinos now organize garage sales or yard sales, usually in their homes, to sell personal belongings or household items that they no longer want or need. Surplus stores are also available for customers to select from a wide variety of previously owned items that one may want to purchase - from sala sets and electronics gadgets to home appliances and baby strollers. In addition, sale of second hand garments and accessories in ukay ukays continue to be widespread.
The increased usage of social media has added another dimension to the dynamics of selling used items and personal effects. Online sellers now leverage on the use of social networking sites like Facebook and Multiply to sell pre-owned belongings like designer bags and clothes. These items are often advertised as pre-loved or pre-owned.
A successful transaction in any of the mediums described above indicates a change in ownership from the seller to the buyer. Finality so to speak, in that what was previously yours is now considered as the possession of the other party and any form of attachment to the object must be severed. For those, however, who have personal belongings or household items that they do not use or need as often but are still not willing to part with, what happens then? In most cases, these items end up in the storage or the attic collecting dust over the course of time.
In order to maximize the use of such items, an idea is to create a venue by which these owners can have others loan or borrow that item for a defined period of time and at an agreed borrowing fee. In this way, owners are able to maintain ownership of their belongings yet earn some income in the process. On the other hand, borrowers are able to find value in that this saves them from having to purchase an item that they will not need or use for a long time. One example could be the need to borrow a saxophone for a school play, or a bike for an office activity for the weekend or a costume for a social engagement.
The venue in mind is an online portal for better visibility and wider reach. This online portal will be very much like a social networking site in that it enables potential lenders to post the items that they want to lend out. As easily, potential borrowers can navigate through the site to search for the items that they wanted or needed to borrow. This channel can serve as the medium for lenders and borrowers to discuss on their terms of agreement as in the borrowing period and for how much this will cost, how the item(s) will be sent to the borrower and how the borrower will return the item(s) to the lender. The concerned parties can have the option of meeting up in person or course the transfer of the item via courier. Linkage to courier companies can also be coursed through this portal. Payment facilities can be integrated in the site as well. A service or commission can then be paid to the site owner for administration and maintenance services. 4
An old adage goes; another man's trash is another man's treasure. In the case of a social borrowing site as described above, another man's treasure remains to be his treasure and is another man's treasure (for a limited time).
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