Face to face watch transactions - any thoughts/advice/tips?

[DRS Enabled]

Looking to sell a 116520 Daytona to someone in my city face to face. Anyone have thoughts/advice/tips on best ways to proceed?

Safe places to meet in order to do a transaction? Any suggestions?

The buyer wants to pay in cash so it will be a lot of $100 bills - inevitably I will spend a lot of time counting and verifying. I'm not sure why I'm saying this but I guess the notion of it brings some stress - an inevitable inconvenience that comes with any in person transaction though.

Bring a friend?

I am probably being needlessly nervous about this but it is the first time I'm doing this with a high value item so please let me know of any thoughts!

[dannyp]

Best in-person transaction advice I have: Don’t pass gas.

Kidding. Maybe.

Seriously, though, do you have a WeWork (awesome similar) membership? Public place but with private spaces available. Or assuming you’ll be putting the money in the bank, ask your banker if there’s a place you could transact there. You can then ask the money to be fed through their counting machine (and you can also ask them to verify none of the currency is counterfeit).

[djdm]

I had asked a similar question to TRF a few years ago and didn’t get any replies. Fortunately, in the end, I did not need to go this route. So I dropped the question.

What I would have done would be to schedule the meeting in the lobby of my local police station or fire department. In my city, police stations can be used for such transactions, though I’m not sure about the latter. I would probably also bring a friend (for safety and to help count) and would alert the buyer accordingly as they may wish to do the same and I wouldn’t want them to be surprised to find someone unexpected at the meeting. I would also alert the police department so they are aware.

[Santiago32]

I would meet at a police station or a bank. Some police stations now have "safe zones" that are designed for these type of transactions.

[samson66]

You could meet in the lobby of a bank? Seems to be a relatively safe place to do it.

[yOyOYoo]

This type of transaction would make me very nervous, especially if the buyer didn’t have any references. I would also only accept bank wire on this - payment first and then meet up after to deliver the watch.

[Vetracer]

Call me paranoid but here's my advice:

- Definitely bring a friend.
- Request the buyer bring along their photo ID which you can physically examine and verify.
- As already suggested, meet in a bank; lots of security cameras and the ability to verify the bank notes.
- Be careful showing the watch, ensure the viewing area is far from the exit to avoid a snatch and run situation.
- After showing the watch, take back possession whilst you sort out payment.

Good luck.

[Chewbacca]

1. Insist on a bank note and meet at the bank the note was made at. Don’t take cash. I count hundreds all the time and running out of spit and recounts for about 300-500 huns isn’t a 2min job.

2. Keep the watch box and papers separated from the watch until you then meet at the bank brand the note was made at. Your car is good and park away from door and arrive 15min earlier. Ask what the buyer drives. If theyre there before you, text and ask if they’re on their way. If they say anything other than theyre there, cancel.

3. At the bank let the teller confirms it’s a good cashiers note, show the watch but tell the buyer you won’t deposit until they agree it’s as agreed to.

4. Have two copies of a paper indicating the deal value and serial number and get a wet signature - BEFORE you hand the watch.

5. Once signed get the box and rest and hand them over.

All this should be done at the bank and if they disagree with anything, walk.

This is my advice.

[ArtNouveau]

OP, you have two worries here, safety and verifying the stack of $100 bills is legit. I would probably ask your bank if you could do this in their lobby and verify/deposit the cash immediately.
Years ago I sold a watch for $10000 and the out of town buyer came to me. We met at my place of business which required me buzzing him in to both the parking lot and the building. I guess the risk of counterfeit bills was there but not as risky as it would be now.
As you’re talking about a $20-30K transaction, might be better to request a bankwire or cashier’s check that could be verified at your bank before handing over the watch.
On the other hand….the last time I sold a high value watch, it was to one of the Trusted Sellers here. Takuya wasn’t in town but had me take it to a watchmaker acting as his agent. Once examined and accepted, he immediately Paypal’ed me the money. May not get as much, but a safer transaction.

[Henrimontgomery]

I’d draft a contract beforehand. And ask for an ID.

[fsprow]

Request a same day wire transfer and when it is in your account send the watch same day Fedex, insured. I would avoid personal contact.

[DaveTheWatchGuy]

Originally Posted by DRS Enabled

Looking to sell a 116520 Daytona to someone in my city face to face. Anyone have thoughts/advice/tips on best ways to proceed?



Safe places to meet in order to do a transaction? Any suggestions?



The buyer wants to pay in cash so it will be a lot of $100 bills - inevitably I will spend a lot of time counting and verifying - I guess that's just an inconvenience that comes with any in person transaction



Bring a friend?



I am probably being needlessly nervous about this but it is the first time I'm doing this with a high value item so please let me know of any thoughts!

With these types of high value transactions, there’s no such thing as being needlessly nervous. Unless you know this person trough a friend, you should just assume that this person is a potential thief. This will keep you on your toes.

Based on stories I’ve read online, along with my own personal experience, here are some tips/watch outs when selling an expensive watch in person:

1. Insist that you connect with this guy on LinkedIn and/or Facebook before meeting. That way you can tell that he is who he says he is.

2. Try to get at least 10-20% of the total price sent to you in advance through a bank wire…that way you know they’re serious

3. Wherever you do decide to meet - whether a police station or bank... You don’t want to get jumped in the parking on your way to the meet up - which happened to another member. So get a friend to drop you off right at the door. And don’t tell the buyer you’re on your way when you’re just a minute away…or what you look like, until you’re in the meet up place safely.

4. Since you’ll be getting lots of cash, you also have to be careful that it’s not counterfeit. Perhaps you can ask a bank teller to count/check the money for you.

Hope this helps you.

Good luck!






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[Chewbacca]

Originally Posted by Chewbacca

1. Insist on a bank note and meet at the bank the note was made at. Don’t take cash. I count hundreds all the time and running out of spit and recounts for about 300-500 huns isn’t a 2min job.

2. Keep the watch box and papers separated from the watch until you then meet at the bank brand the note was made at. Your car is good and park away from door and arrive 15min earlier. Ask what the buyer drives. If theyre there before you, text and ask if they’re on their way. If they say anything other than theyre there, cancel.

3. At the bank let the teller confirms it’s a good cashiers note, show the watch but tell the buyer you won’t deposit until they agree it’s as agreed to.

4. Have two copies of a paper indicating the deal value and serial number and get a wet signature - BEFORE you hand the watch.

5. Once signed get the box and rest and hand them over.

All this should be done at the bank and if they disagree with anything, walk.

This is my advice.

Must add that I wouldn’t do a f2f on a watch over $10k unless I knew the person well.

Take the 5-10% hit and sell to a commercial buyer.

[DRS Enabled]

Thank you all for the replies. Buyer doesn't have any references but sadly, neither do I. So difficult for me to request wire payment up front because if I was in his shoes I probably wouldn't do that either.

We've been exchanging communication via our work emails so we know each other's identities, place of work, office address, etc. I see him on Linkedin with a proper profile. Makes me feel a bit better.

The bank suggestion is a good one. I will aim for that if I follow through with this. I've always done transactions via trusted dealers before but receiving a higher price is very tempting, notwithstanding the risks involved.

[karleone]

There are a lot of people who got robbed this way. Buyer says he wants to pay cash and during meeting steals the watch / run / gunpoint whatever. Unless you know the buyer or he has references or he is well known I would avoid this kind of transaction.

[skipstar]

I am a Police Officer in a major city. I recommend you meet in only 2 places, a local police station or your local bank.
The reason I recommend the bank is so you can verify that the 100 bills are 100% real, yes this is a big problem these days. There are a large amount of scams that use 100 dollar bills that are so real looking that only the bank can verify.
Also the police station for obvious reasons, in my department we have spots in the lobby that are identified as safe places and the entire area is covered by video.
Good luck!

[beshannon]

I would not want cash for a value like this

[samson66]

Originally Posted by DaveTheWatchGuy

3. Wherever you do decide to meet - whether a police station or bank... You don’t want to get jumped in the parking on your way to the meet up - which happened to another member. So get a friend to drop you off right at the door. And don’t tell the buyer you’re on your way when you’re just a minute away…or what you look like, until you’re in the meet up place safely.

This is key. You want to avoid the situation where the "buyer" may meet you inside the bank, decide not to go through with the transaction, then his buddies are waiting to jump you on the way back to your car.

So I would get a friend to drop you off at the door and pick up up in the same spot if he doesn't buy it.

Secondly if you can, meet at YOUR bank and if he does go through with the transaction have the bank verify the bills and deposit it right into your account right then and there. This way you don't have to worry about being robbed on the way out.

95% chance this is legit and nothing to worry about, but you do need to watch out for that 5% chance you are getting set up.

[walds11]

Originally Posted by Chewbacca

Must add that I wouldn’t do a f2f on a watch over $10k unless I knew the person well.

Take the 5-10% hit and sell to a commercial buyer.

Maybe a bigger hit selling to a commercial buyer? But it would be an easy transaction.

[DRS Enabled]

@samson66 by the way I've always wanted to ask - who is that in your profile pic and what watch is he wearing? I'm not a big football fan so I can't tell

[samuel019]

Originally Posted by DRS Enabled

@samson66 by the way I've always wanted to ask - who is that in your profile pic and what watch is he wearing? I'm not a big football fan so I can't tell

Thats John Harbaugh. Coach of the Baltimore Ravens. As to the watch I couldnt tell you.

To your original question I'd do as the other members stated. Bank or Police station only. Good luck!

[samson66]

It's John Harbaugh as Anthony said. He's wearing a Submariner. I'm not sure of the back story but suddenly either this season or last John and several of the assistance coaches all started sporting Submariners at the same time. They all wear them during the games. Not sure if John bought them for everyone, or maybe the owner did, or what. I'll have to dig a little more on it or maybe call in if he does a radio interview. I am curious...

[Cloudchaser]

I've done MANY F2F transactions over the last few years. In so doing, I have leveraged my network to ensure that I'm thinking correctly from a safety/security perspective.

Most often over-estimated is safety/security in a bank. Beware the false sense of security of the bank lobby. The cash or watch that one brings into a bank-located transaction is not FDIC insured. Similarly, a "grab-and-run" is not the same as a "bank robbery," so the inferred deterrent is not as strong as commonly thought. A bank offers some higher level of protection that a generic location does not, but the protection offered (both direct and implied) is not what many think.

And, as noted upthread, bank parking lots are your highest risk in these deals (boxed in, ambushed, distracted, followed, etc.).

Stay safe out there.

[28mm]

Originally Posted by DRS Enabled

Looking to sell a 116520 Daytona to someone in my city face to face. Anyone have thoughts/advice/tips on best ways to proceed?

Safe places to meet in order to do a transaction? Any suggestions?

The buyer wants to pay in cash so it will be a lot of $100 bills - inevitably I will spend a lot of time counting and verifying. I'm not sure why I'm saying this but I guess the notion of it brings some stress - an inevitable inconvenience that comes with any in person transaction though.

Bring a friend?

I am probably being needlessly nervous about this but it is the first time I'm doing this with a high value item so please let me know of any thoughts!

I bought a watch for cash a bit more than a year ago. First I felt very comfortable with the seller..that's key..I'd probably do things a bit differently now but as far as the cash was concerned this was clever of the seller.

We walked together to the teller. I handed the cash to be counted in front of both of us. The teller did so and handed it back to me.

Then we walked a few steps to a quiet area and I handed him the cash after having inspected the watch prior to handing over the cash.

It's a longer story in some ways and a great one. I haggled and got the price down really low and after meeting I increased my price by $500 but he would not accept it.

We're in touch from time to time and it was a really nice transaction but the part with counting cash is what I most wanted to share.

[DRS Enabled]

Thanks all for the responses. Whole thing didn't feel comfortable to me at the beginning and after reading these responses I think I will just wait and wait for a seller who is willing to do a transfer wire instead of cash / shipping instead of in-person.

[denmanproject]

Originally Posted by DRS Enabled

Thanks all for the responses. Whole thing didn't feel comfortable to me at the beginning and after reading these responses I think I will just wait and wait for a seller who is willing to do a transfer wire instead of cash.

Good plan, shouldn't be too tough to unload a Daytona safely

[28mm]

Originally Posted by DRS Enabled

Thanks all for the responses. Whole thing didn't feel comfortable to me at the beginning and after reading these responses I think I will just wait and wait for a seller who is willing to do a transfer wire instead of cash.

smart.

[DRS Enabled]

Cheers all

[GGGMT]

Originally Posted by DRS Enabled

Looking to sell a 116520 Daytona to someone in my city face to face. Anyone have thoughts/advice/tips on best ways to proceed?

Safe places to meet in order to do a transaction? Any suggestions?

The buyer wants to pay in cash so it will be a lot of $100 bills - inevitably I will spend a lot of time counting and verifying. I'm not sure why I'm saying this but I guess the notion of it brings some stress - an inevitable inconvenience that comes with any in person transaction though.

Bring a friend?

I am probably being needlessly nervous about this but it is the first time I'm doing this with a high value item so please let me know of any thoughts!

If you’re having to ask this, you’re not set up to do this. Norma, by the way. Do yourself a favor, and don’t worry about saving the extra five or 8%, and just traded in or sell it commercially, call David SW or Thanh or Aamir and just let them buy it.


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[47Fountain]

Sold a sub to a fellow TRF'r. We agreed on a face t face at a branch of his bank. We sat down in the waiting area of the bank, he inspected the watch, box & all paperwork. We walked up to the teller, she counted out the cash he asked for & that was it. Great experience with a face to face. Had a "buyer" before him that only wanted to meet at a shopping mall. When I refused, he started the "do your know who I am" routine. I laughed & told him no I didn't & that's why we will not meet in a mall parking lot.