WatchUSeek Watch Forums banner

1 - 20 of 24 Posts

·
Registered
Joined
·
1,160 Posts
Discussion Starter #1
Hello, awesome fellow members

This thread is provoked by the crazy number of scams lately. I will soon list a few items for sale and since it is my first time - have cold feet.

Buy the seller/buyer should be mentioned here, so it doesn't have to resurface all the time

I wish to make my sale a comfortable experience for the buyer and at the same time not get scammed. Reaching out to you to give me some tips - how and what to do, list them as a bundle or one at a time, paypal or bank wire only, post+insurance or DHL, let's try and keep it on the practical side.

Thanks :-!
 

·
Registered
Joined
·
14,860 Posts
I'd insist on a postal Money Order as payment. If you know the buyer as a veteran member of the same forums, with a great reputation; you can mail out the watch at the same time he mails out the M.O.

Otherwise, it's accepted practice for the seller to mail out the item only after the M.O. has arrived. As for the buyer, when you pay for something with a postal M.O. but get scammed; then the Federal government gets involved if the buyer complains. Ironically, a postal M.O. is a great way for both buyer and seller to be protected.

As for shipping, always ship the item in question with signature confirmation. That way, a dishonest buyer can't claim that the item never arrived. Also, it's good to ask the buyer if he'd like insurance on the item. If he says "no," then it's on him if the item gets lost.

Hope this helped.
 

·
Registered
Joined
·
2,678 Posts
I recently had to do some thinning, paypal and post works well for the most part, had one postal delay that caused some funds to be frozen in paypal but that resolved when the post finally delivered

FedEx, UPS and DHL all have superior tracking.

My sales are all modest items, $300 was the most expensive (of course that was the one that was delayed in the post, per Murphy's Law)

If selling items over $500 you may want to avoid the post

If selling items over $1000 you may want to avoid paypal and the 3-4% fees

Finally, I chose to list my items separately but put a link in each listing to ask folks to look at my other sales

Good luck!
 

·
Registered
Joined
·
11,587 Posts
Depending on the value of the watch(es) and amount of money being exchanged, is there some sort of escrow or clearinghouse service that could be used? Just a thought.
 

·
Registered
Joined
·
772 Posts
For very high value watches, i think I'd insist on a face to face transaction, for mutual benefit. Someone willing to pay 10,000+ on a watch should not mind the travel even if long distance. The buyer gets the assurance of examining the watch in person, if necessary a trip to a local AD or watchmaker to verify authenticity. Buyer & seller can then visit the nearest bank together, to withdraw the funds & make payment in cash. Seller hands over the watch along with a receipt of payment & transfer of ownership.
 

·
Registered
Joined
·
791 Posts
I have thinned the herd considerably over the course of the last 6 months, and had the same concerns as you. I like the security of PayPal, but wince at the fees. I've used bank wire transfers to both buy and sell, but I will admit that it makes me uncomfortable to give out my account information in order to receive a payment. I think the least painful (financially speaking), and probably the most secure method of payment I've used was sending a Cashier's Check. A Postal Money Order can be expensive if the dollar amount is fairly high, and a CC cost me nothing at my Credit Union. As far as shipping goes, I use either FedEx Next Day or USPS Express Over Night. Both of them give you good tracking (but FedEx is better by far), as well as verification of receipt. Both are rather expensive on the face of it, but in my opinion the service is worth it. Good luck with the sales.

Mark
 

·
Banned
Joined
·
7,645 Posts
Both parties need to do their homework. You can ask for references from the other person, or check their feedback on watch websites. We have a forum for just that purpose:

https://www.watchuseek.com/f63/

and you could also try WatchNet - they have 2; one for good and one for bad.

good: WatchNet: Good Guys / bad: WatchNet: Deal Watch


If both participants are regular contributing members of a popular forum the odds greatly increase that the transaction will be smooth. Nobody wants to be run out of their home town with torches and pitchforks, right?

Now, as a seller many of us live by the rule of "under promise, over deliver" meaning be upfront about the flaws so the buyer is pleasantly surprised by the condition upon receiving the watch. Macro and lighting angles can be easily used to exaggerate dings, scratches and other imperfections that won't be seen by the naked eye. Better to get $50 less up front than deal with returns, refunds, lost shipping fees, and bad karma.
 

·
Registered
Joined
·
1,160 Posts
Discussion Starter #8
All good stuff, folks. Thank you

The three watches I intend to sell are all in the <$1,000 range: one vintage at <100, one BNIB for roughly $850 and one modern LE for approx the same $750

So, no large transactions but in all likelihood - all international deals (I am in Switzerland, so will be sending abroad, I guess). Post w/insurance is fine, I guess. Questions around the payment are what's bugging me most
 

·
Banned
Joined
·
7,645 Posts
Questions around the payment are what's bugging me most
If the buyer is trustable after doing the research, payment form becomes moot. I've done wire transfers to Romania, USPS money orders within the states, and even sent personal checks because the seller had good references and they knew me also.
 

·
Registered
Joined
·
2,823 Posts
As an established known entity on this forum, you should have no problems with a scam free sale.

There are three forms of payment which can be accepted without any fear of buyer's scam: cash, wire transfer, PayPal gift. All of them can not be revoked by the buyer once made and require no clearance time.

Wire transfer may cost you a little to receive and a little for the seller to send, depending on the terms of each of your financial accounts. I've used this on both sides of transactions, typically for large amount or foreign sales. Being able to require this as a form of payment is what one gets for being a trusted seller or forum participant.

There is no recourse for senders of PayPal gift payments, unless they are made from a compromised PayPal account under PayPal terms of service. PayPal will not reverse a "gift" transaction, when a sender complains that they didn't receive the goods they were supposed to get in return for their "gift". PayPal gift transactions also enable the transfer of money to be done cost free to the seller and buyer as they are free to the sender when funded by a bank account. A buyer might try to retain their right to reverse the transaction by funding the transaction with a credit card, but when the credit card company contacts PayPal and finds out the transaction was a gift transaction, the dispute is going to end.

In all cases, additional costs to the transaction may apply to currency conversions and where customs maybe involved it behooves the buyer to be aware of the potential customs costs and for both parties to be aware of who is responsible for these costs and delays.
 

·
Moderator Public Forum
Joined
·
22,036 Posts
First and foremost make sure you retain control of the sale. By that I mean define your requirements ahead of time and stick to them just like a business. In the earlier thread the poster lost control the moment he allowed the buyer to deposit a check to his account. Seller had no idea what state let alone country the bank was in nor did he know if the deposit was made on a late friday afternoon nor did he know if it was a post dated check or a payable through check. Be wary of over enthsiastic buyers who immediately make a full price offer or offer more than full price(it happens). Allow a reasonable time for the check to clear beyond the Federal Reserve funds availability rules. And know your buyer. Check his refs and positngs on WUS and the other fora. Check Ebay feedback.
 

·
Registered
Joined
·
22,213 Posts
There is a several page thread put together by one of our moderators stickied at the top of the sales corner full of tips for avoiding scams.

Jeannie
 

·
Registered
Joined
·
14,860 Posts
All good stuff, folks. Thank you

The three watches I intend to sell are all in the <$1,000 range: one vintage at <100, one BNIB for roughly $850 and one modern LE for approx the same $750

So, no large transactions but in all likelihood - all international deals (I am in Switzerland, so will be sending abroad, I guess). Post w/insurance is fine, I guess. Questions around the payment are what's bugging me most
There is the option of Western Union money transfers. (I'm assuming there are Western Union centers in your country.)
 

·
Registered
Joined
·
2,741 Posts
I always use paypal because it's fast an easy for both parties. If you do your homework and deal with members that have some references chances are you'll be totally safe.

Just speaking MY personal thoughts here, don't limit your payment options to Postal Money orders ONLY. That will run away a bunch of buyers! I personally won't pay by a Postal Money Order unless it's an absolute necessity to get the deal done. (and a watch I REALLY want) Because it's a lot of trouble to have to go get the cash, go to the PO, buy the money order, send it out, and then have to wait for the MO to get to the seller before he releases the watch!
 

·
Registered
Joined
·
1,160 Posts
Discussion Starter #15
There is the option of Western Union money transfers. (I'm assuming there are Western Union centers in your country.)
Every time I wear my buyer hat and I see Western Union, I pass automatically; for some reason, I perceive this as a bad flag. I am trying to find the proper balance, where both seller and buyer will feel comfortable. I think truth (as much as one could claim one absolute truth) is somewhere between what Dennis and Jeannie said - research, homework and try to find someone not completely unknown. I realize this might cut some new members who would be likely to best enjoy what I let go but... that's life I guess.
 

·
Registered
Joined
·
2,098 Posts
Paypal and always insure the watch for the full value. I feel that Paypal reduces the risk and insurance will cover most shipping issues.
Also, I tend to stay away from deals that are overly complicated. From experience, the more hoops you must jump through, the higher the likelihood that there will be issues.

Don't be overly worried about being scammed. Good luck|>
 

·
Registered
Joined
·
14,860 Posts
Every time I wear my buyer hat and I see Western Union, I pass automatically; for some reason, I perceive this as a bad flag. I am trying to find the proper balance, where both seller and buyer will feel comfortable. I think truth (as much as one could claim one absolute truth) is somewhere between what Dennis and Jeannie said - research, homework and try to find someone not completely unknown. I realize this might cut some new members who would be likely to best enjoy what I let go but... that's life I guess.
I understand what you mean. Personally, as a Buyer, I will not do any transaction with completely new members. And not just on WUS. I've seen sellers who had 1 post, and that post was clearly in their sales thread. I'm sure many of them are fine, upstanding, individuals. But I just don't feel comfortable dealing with a completely new member that way.
 

·
Registered
Joined
·
2,098 Posts
I understand what you mean. Personally, as a Buyer, I will not do any transaction with completely new members. And not just on WUS. I've seen sellers who had 1 post, and that post was clearly in their sales thread. I'm sure many of them are fine, upstanding, individuals. But I just don't feel comfortable dealing with a completely new member that way.
I would tend to skip any FS post that requires any form of payment besides Paypal.

Also from the buyer's perspective, if a watch is lost while in transit and they paid via a MO or WU, then they may feel that they were the victims of a scam.
 

·
Registered
Joined
·
14,860 Posts
I would tend to skip any FS post that requires any form of payment besides Paypal.

Also from the buyer's perspective, if a watch is lost while in transit and they paid via a MO or WU, then they may feel that they were the victims of a scam.
I know friends and aquaintences with nightmarish tales regarding Paypal. I have never sold anything online. But if I did, it would have to be money order as preferred form of payment. Also, if you send one as a Buyer and get scammed; since it's a postal money order the federal government now gets involved.
 

·
Registered
Joined
·
6,158 Posts
I would tend to skip any FS post that requires any form of payment besides Paypal.

Also from the buyer's perspective, if a watch is lost while in transit and they paid via a MO or WU, then they may feel that they were the victims of a scam.
Agreed.

I've had many solid transactions here and would nnot likely pay via WU, nor would I mail out a watch without first receiving payment. I also would never expect anyone to mail a piece before receiving my payment.

Paypal is safer than other methods. IMO, if you can get scammed in some way, using paypal, you can get scamed the same way, using any other paymet method (except for a face-to-face cash exchange).

Always 'buy the person' , whether buying or selling.
 
1 - 20 of 24 Posts
Top