Question about Gray Market Purchase

[GMT_RB_W]

Hi, new to the Forum.

Yesterday I found the watch I've been looking for on CHRONO24. I've never made such a large purchase online or on the "Gray Market". I did a lot of research online and on youtube in regards to researching sellers on CHRONO24,Watchfinder, JOMASHOP, etc..

So when I found the watch on CHRONO24, I clicked on "Seller Details", they were a Trusted Seller with over 300 transactions since 2018.

The Watch was listed as:
Original Watch Case, Box, Papers, New/Unworn and having the Rolex Transferrable Warranty Card

I looked up seller info, found address(New York) and website, searched on Google Maps and Yelp, and then proceeded to call shop. I asked the Owner if I should make purchase on CHRONO24 or if it would be easier to purchase directly from his website. He recommended using a PayPal Invoice and paying directly through there.

I'm not very adept or experienced at PayPal, especially in regards to large Invoice Purchases like that.


My questions are:

1) Is there a possible chance I could get scammed? (Replica or Fake Watch)

2) Is PayPal pretty good with Fraud Protection? and what steps should I take to protect myself upon delivery receipt?

3) Has anyone here in this Forum, done the same type of transaction through "Gray Market"?

Thank You for your time.

[beshannon]

Originally Posted by GMT_RB_W

1) Is there a possible chance I could get scammed? (Replica or Fake Watch)

Yes

[Fat_ninja]

Originally Posted by beshannon

Yes

This is why we don’t buy grey

[AK797]

It would be better to use chrono24's escrow service, but I still want to see more cases where a buyer has been unhappy and chrono24 protected their money from going out, hopefully some will show up here.

[JoseR]

Originally Posted by AK797

It would be better to use chrono24's escrow service, but I still want to see more cases where a buyer has been unhappy and chrono24 protected their money from going out, hopefully some will show up here.

Correct. I used Chrono24 for my DJ41 in November and the seller is a TRF member and I did my research on him then when I felt comfortable I used my CC with escrow service. Once I received the watch next day I was able to check all the contents and give my approval to pay the seller. So, the seller doesn't get paid until you confirm all is well. Also, the CC has some protections..

[jpcwon]

Yeah I feel like buying on Chrono24 is not too far off from buying on Ebay. You really have to buy the seller when shopping for a Rolex online. Fakes/reps are so good these days, I'll really only buy a watch in person, OR if the seller has solid references.

Gotta be careful these days. Too many people out to scam...

Sent from my SM-G965U using Tapatalk

[BroncoOne]

Originally Posted by GMT_RB_W

Hi, new to the Forum.

Yesterday I found the watch I've been looking for on CHRONO24. I've never made such a large purchase online or on the "Gray Market". I did a lot of research online and on youtube in regards to researching sellers on CHRONO24,Watchfinder, JOMASHOP, etc..

So when I found the watch on CHRONO24, I clicked on "Seller Details", they were a Trusted Seller with over 300 transactions since 2018.

The Watch was listed as:
Original Watch Case, Box, Papers, New/Unworn and having the Rolex Transferrable Warranty Card

I looked up seller info, found address(New York) and website, searched on Google Maps and Yelp, and then proceeded to call shop. I asked the Owner if I should make purchase on CHRONO24 or if it would be easier to purchase directly from his website. He recommended using a PayPal Invoice and paying directly through there.

I'm not very adept or experienced at PayPal, especially in regards to large Invoice Purchases like that.


My questions are:

1) Is there a possible chance I could get scammed? (Replica or Fake Watch)

2) Is PayPal pretty good with Fraud Protection? and what steps should I take to protect myself upon delivery receipt?

3) Has anyone here in this Forum, done the same type of transaction through "Gray Market"?

Thank You for your time.

You can easily get scammed and you don't want the long nightmare of trying to get your money back from PayPal etc.

The best advice you can get is to buy from a trusted seller. Many on this forum have provided their accounts of buys from these reputable people. If there is a bit of a premium, it's worth knowing that you will get your watch and that it will be genuine. The trusted greys rely completely on their reputation to get people to wire them thousands of dollars on the hopes that they will get a genuine watch and have a person to whom they have recourse if there is an issue.

I've used DavidSW with great results. There are others and I'm sure that their customers will chime in with their reviews.

[MSchu]

I've had good luck with chrono... SO FAR. I am however always apprehensive about the transactions becauwwe it involves a heavy dose of trust.

[djgallo]

I would use a credit card if purchasing on Chrono24.

Your credit card can provide you with protection.

As others have said...always buy the seller. If you are not comfortable...talk a walk.

Lastly, I’ve had many successful experiences dealing with Chrono24.

[Geckobros]

Originally Posted by djgallo

I would use a credit card if purchasing on Chrono24.

Your credit card can provide you with protection.

As others have said...always buy the seller. If you are not comfortable...talk a walk.

Lastly, I’ve had many successful experiences dealing with Chrono24.

This.

I will add:

I have used Chrono24 but have not used their escrow service. I called a seller and asked them if we could forgo the escrow service and they offered me a nice discount if I did (makes sense). The seller was reputable so I didn't feel I needed the escrow service.

On new pieces, I do not want THEIR warranty I want the manufacturers warranty.

I have bank-bank wired money but I feel your protection is gone at that point. So as the other poster mentioned, you buy the seller.

I am willing to pay a little more to deal with someone like DavidSW, especially on a "big" purchase.

[jaisonline]

as a buyer... you can use paypal w/o worry. just let the dealer invoice you. then make sure you pay using the credit card option. do NOT pay with you paypal funds or linked bank account. so make sure your paypal account balance is "$0". if paypal doesn't protect you, your card will. i checked multiple times.

personally, i would just pay with the credit cars directly though. far easier. gray dealers prefer paypal because of the lower fee. some dealers will also let you use a card if you agree to pay some small portion of the fee.

Originally Posted by GMT_RB_W

Hi, new to the Forum.

Yesterday I found the watch I've been looking for on CHRONO24. I've never made such a large purchase online or on the "Gray Market". I did a lot of research online and on youtube in regards to researching sellers on CHRONO24,Watchfinder, JOMASHOP, etc..

So when I found the watch on CHRONO24, I clicked on "Seller Details", they were a Trusted Seller with over 300 transactions since 2018.

The Watch was listed as:
Original Watch Case, Box, Papers, New/Unworn and having the Rolex Transferrable Warranty Card

I looked up seller info, found address(New York) and website, searched on Google Maps and Yelp, and then proceeded to call shop. I asked the Owner if I should make purchase on CHRONO24 or if it would be easier to purchase directly from his website. He recommended using a PayPal Invoice and paying directly through there.

I'm not very adept or experienced at PayPal, especially in regards to large Invoice Purchases like that.


My questions are:

1) Is there a possible chance I could get scammed? (Replica or Fake Watch)

2) Is PayPal pretty good with Fraud Protection? and what steps should I take to protect myself upon delivery receipt?

3) Has anyone here in this Forum, done the same type of transaction through "Gray Market"?

Thank You for your time.

[Easy E]

Originally Posted by jaisonline

as a buyer... you can use paypal w/o worry. just let the dealer invoice you. then make sure you pay using the credit card option. do NOT pay with you paypal funds or linked bank account. so make sure your paypal account balance is "$0". if paypal doesn't protect you, your card will. i checked multiple times.

personally, i would just pay with the credit cars directly though. far easier. gray dealers prefer paypal because of the lower fee. some dealers will also let you use a card if you agree to pay some small portion of the fee.

Pretty much this. Use a CC not a debit card for your Paypal transaction. You have two layers of protection.

[jaisonline]

Originally Posted by Easy E

Pretty much this. Use a CC not a debit card for your Paypal transaction. You have two layers of protection.

Yep. 100% agree. No debit card. I also know the dealer the OP (GMT RB W) is buying from. They are legit when it comes to online transactions. They prefer PayPal if buying not in- person.

[GMT_RB_W]

I didn't end up purchasing through CHRONO24, because when I called the Seller they recommended PayPal Invoice. The Seller has a Brick and Mortar store in New York. The Invoice he sent me spells out the terms of the watch(ie: New/Unworn, transferrable warranty card, Box , booklets). I called my Bank today and they said I'm not covered under fraud protection, since I made the purchase. They said I would have to go through PayPal to file a dispute if need be.

The watch comes today and I plan on inspecting it thoroughly with a 30/60 jeweler's Loupe that also comes in the mail today. And I was going to use my wife's Lady Datejust 31mm that I bought last week from a Local AD as a real reference.

I know I probably sound paranoid, but I've never spent so much online for a watch. And I've been reading all these articles about Super Fakes and watching YouTube videos.

One of first things I wanted to check was the engraved/etched crown at bottom of glass. I've been trying to see it with naked eye on my wife's watch, and I still can't see it. I'm hoping the Jeweler's Loupe helps

[GMT_RB_W]

here is what the seller has for sale today in regards to GMT's

They Have:
NEW OCT2019 Pepsi
NEW NOV2019 Batman
etc..

My watch way marketed as NEW SEP2019 Unworn

My watch should arrive today, and I will reply back here after I thoroughly inspect watch, and then take it to the local AD to authenticate and size.

I appreciate all of your comments

[locutus49]

Agree that it is worth extra to use a Trusted Seller like DavidSW. Ask him to source the watch you want.

[Sunstreaker]

I would also add that in general, for really any transaction, you should never use a debit card. Always use your credit card where possible. You will be afforded much more protection and a lot less "downtime" in your life should anything unfortunate happen.

Cash is king - preserve it vs using a debit card and having it disappear immediately. :)

[ArtNouveau]

If the seller is in NY and you talked to him good chance he’s in the Diamond District. Some people will disagree but vendors there live and die by their reputation. Your watch will be authentic.

[Jmbarrack]

If you use paypal plus pay with a CC you should be fine. You have protection on the PayPal and Credit card side.

Also, if you're going off Chrono24 try to negotiate the price for less because Chrono24 take a % of the total price of sale. A lot of dealers have prices higher on Chrono24 than they would if you walk into the shop.

I deal with a gray dealer who is in NY and has a larger Chrono24 presence. He'll always negotiate price for walk-in local customers. Who was the dealer BTW? Some of us may have dealt with them before.

[GMT_RB_W]

Dealer was Collectors Coins & Jewelry - Massapequa, NY store
(They have 5 locations)

Watch will arrive today

GMT-Master II 126711 CHNR
Box, Booklets, Warranty Card (Date of Sale Sept2019)
Price $16,551 (no tax)

Here locally, If I waited for Local AD $14,800 Retail x 8.75% sales Tax
Would have paid $16,095

So I paid a premium of +$456
and lost pure brand new AD experience.

But got that last week with my wife's watch at AD.


;-)

[joli160]

Huge congrats on the CHNR. Beautiful piece.

Regarding Chrono;
Check it out, every seller is a trusted seller. Funny ?
It's not the platform, but the individual seller.
The protection they offer ? Some good and some bad stories.

Personally I buy only from established trusted sellers which can be verified on TRF or other watch forums

[HEPennypacker]

Originally Posted by GMT_RB_W

Dealer was Collectors Coins & Jewelry - Massapequa, NY store
(They have 5 locations)

Watch will arrive today

GMT-Master II 126711 CHNR
Box, Booklets, Warranty Card (Date of Sale Sept2019)
Price $16,551 (no tax)

Here locally, If I waited for Local AD $14,800 Retail x 8.75% sales Tax
Would have paid $16,095

So I paid a premium of +$456
and lost pure brand new AD experience.

But got that last week with my wife's watch at AD.


;-)

Coincidentally, I just bought a Sky-Dweller from the same dealer, but their Huntington location. I called and also paid by PayPal invoice. The watch arrived yesterday as described.

[GMT_RB_W]

That's awesome!!

and definitely makes me feel much better

Thanks!

[m j b]

Hey OP, glad to see that it went through. That's a gorgeous piece, congrats!

[Jmbarrack]

That's a small premium/price to pay to get the watch you want. A lot of people forget that Sales tax can be almost 10% in some locations which can make up the price of some of these premiums.

Well done. Post pictures once it arrives.

[Nikrnic]

From your explanation of the way you've looked into the facts and players involved I'd say your good to go. Enjoy your new timepiece.

Sent from my SM-G970U using Tapatalk

[erne75]

As other have said, buy the seller first...I have done Chrono24 with a relatively new seller at the time. Bought two watches from them at the same time and they gave me a great deal. I bought on ebay from established gray market dealers and my last watch was from an individual in this forum. In all cases I checked references and previous feedback. Most established sellers in the business will not burn their reputation for a few dollars.

[dwjez14]

I’m not a huge chrono fan. I like to buy gray from davidsw and timepiece gentleman only. Both have continually given me top notch service. Can’t say enough good things about both of them.

[GMT_RB_W]

****UPDATE****

Ok this seller is Legit! I am completely surprised in the level of professionalism. I received original purchaser receipts from AD in Garden City, NY. I received original Rolex Warranty Card, perfectly imprinted by AD Maxine with original owners name. Bezel protector is on watch with rubber O-ring. The original sticker and Hang tag for watch are included too. I just ran through the entire GMT mechanical check for Hour hand(backward/forward), date flip, time zone hour hand, etc..

This watch ended up costing me $450 more than if I waited here and bought it from local AD with tax.

[locutus49]

Glad it worked out for you. Congrats.