Meeting at a bank to do a sale. Any risk? Advice?

[Pongster]

Originally Posted by BigBallerBrand

Lol sorry guys I am the seller. For some reason I can’t edit the OP on my phone.

I’m meeting at the buyer’s bank*

Normally it should be seller’s bank as you should be able to deposit the payment immediately.

[dukie748]

If I was doing this at a bank, I'd also have a friend outside the bank door just in case.

[trematix]

More than anything, vet the buyer. Check for references and look in The Who’s who section to see if they’ve done any transactions.


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[JebM]

I think id use an online escrow service and just mail them the watch... that said Im almost 40 and still own the first car I bought at 17.. not good at selling things. shrug.

[superpop]

I sold a Breitling B50 just yesterday at the buyers bank. More than anything BUY THE BUYER. I vetted this guy out pretty good on google and he appeared to be genuine. Sold it on Facebook marketplace, met at his bank, watched him withdraw the cash, we sat in the lobby next to a standing security guard and he inspected the watch. Local grey offered me 2100 for the watch, I got 3K, which was still a great deal for the buyer. Chrono24 valued it at around 3500 but then you pay all the fees. Really was a nice watch, I am just not into the quartz stuff any longer and Breitling has always broken down on me post warranty. Guy even gave me a free WiFi camera from the company he works for as a gift. Bottom line, buy the buyer/seller.

[David007Kim]

DON’T DO IT!!!,...have you seen footage in London areas yet(???). It very well could be possible that there will be more people involved to take your watch?!?!,...after all you the seller might be bringing the Full Set(?). Perhaps call the bank ahead to put a security guard on notice for a transaction to be safe.(proceed cautiously into bank). My choice would be at a Local Police Station for a Cash Transaction. The world is crazy and desperate and in some cases there will be more than 1 person involved with crime.

[77T]

Originally Posted by BigBallerBrand

1A) cash or wire?
1B) If cash, do I ask him to allow me to see him withdraw the cash in front of me?
1C) If wire, doesn’t it take a few hours to post?
1F) Can they cancel it after I leave the bank?

2A) do I let him physically touch and inspect my watch before I receive payment?
2B) Or does he pay me first?

1A) Wire.
1B) N/A - don’t accept cash.
1C) Wire first, then clear the funds by withdrawal to another account. The appointment is 24 hours after clearance.
1D) No.

2A) N/A - you have funds already.
2B) Of course.

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[FTX I]

Originally Posted by GoingPlaces

There was an older post about a meeting at a bank and the seller got taken. Guy took the watch and walked right out. Police station only for me.

Yup. That's why I only sold watches in the past to close friends and resellers. I lost some money but the peace of mind is priceless.

[tike71]

Originally Posted by 77T

1A) Wire.
1B) N/A - don’t accept cash.
1C) Wire first, then clear the funds by withdrawal to another account. The appointment is 24 hours after clearance.
1D) No.

2A) N/A - you have funds already.
2B) Of course.

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GL finding a buyer under those terms. TD not withstanding

[Calatrava r]

I agree. You should meet at your bank. I would insist on "collected" funds, that is, funds actually in your account before you meet. Too much can go wrong otherwise with your watch being scoffed off with no payment to you. There could be a third party accomplice lurking about who absconds with your watch while you two talk and are somehow distracted.

[foo4rolex]

IMO, meet at the RSC is better.
You have a reason to adjust the bracelet and get the watch authenticated.

[kalo925]

I've bought three and sold two person to person. My area is not a big city and maybe less scammers or thugs around to think they can try to pull something, but I think first you need to feel comfortable with the buyer/seller. Exchange Facebook.. Ask for a copy of their Drivers Licence. Etc. Do some messaging and try and get a good feeling about them. Ask questions about their interest in watches, experience, etc.. I've met at banks and for two lower priced transactions buying at Mcdonalds. Another buy was at a bank, but prior we stopped by the dealer he bought the watch from. The seller even had the original receipt. I also want to have a lot of info about where the watch came from for buying and probably only would buy full set with some documentation (or a reasonable story) of their purchase. For the two I've sold $6400 and $7000 they met me at banks and had cash which we got counted with machine which also checks for counterfeit. Both times It was a bank I could put cash in my account. I can't remember each time, but I think have the cash in hand prior to allowing them to handle the watch. For person to person mostly need to feel 100% comfortable with the buyer and have some information about them. Good luck..

[Zoomerang]

Originally Posted by walkman2727

Which brand do you recommend?

Didn't you see the OP's name? BigBallerBrand! I think he's set!

[77T]

Originally Posted by tike71

GL finding a buyer under those terms. TD not withstanding

I guarantee that a F2F without those precautions leads to more ripoffs and/or wastes of time with gawkers.


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[BigBallerBrand]

Originally Posted by 77T

1A) Wire.
1B) N/A - don’t accept cash.
1C) Wire first, then clear the funds by withdrawal to another account. The appointment is 24 hours after clearance.
1D) No.

2A) N/A - you have funds already.
2B) Of course.

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Why would some wire me money first? Isn’t that risky for them?

[AK797]

Originally Posted by BigBallerBrand

Why would some wire me money first? Isn’t that risky for them?

I think with your limited history here that would be a no go for most buyers. So if only cash or an instant wire will do then it should be at your bank not his.

[77T]

Originally Posted by BigBallerBrand

Why would some wire me money first? Isn’t that risky for them?

You asked about precautions when you’re the seller. You stated you’re meeting a buyer at your bank (meeting at sellers bank).

There is no safer way for you to complete the sale - buyer pays by wire.







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[TonyD]

I also heard about a face to face transaction where the seller shows the buyer a real watch and then after the money was exchanged swapped it for a fake at the last minute. Its a weird world out there.....