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

[BigBallerBrand]

I’m meeting at the seller’s bank. Just wondering what type of precaution I need to take for the purchase?

1) cash or wire? If cash, do I ask him to allow me to see him withdraw the cash in front of me? If wire, doesn’t it take a few hours to post? Can they cancel it after I leave the bank?
2) do I let him physically touch and inspect my watch before I receive payment? Or does he pay me first?

*first time selling something of high cost

[kdphan]

Inspect watch, make sure serial matches to card and watch.
Get cash or cashiers check made out to him
Exchange

[didikwahyu]

Agree plus....do not rush...take your time until you're satisfied

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[Generation]

Did you mean to say you're meeting at the buyer's bank? If so, can you edit your original post?

I've never sold anything in person (only eBay), but I've heard stories on here of people running off with a watch at a bank sale, so be careful.

[gtnator]

Are you the seller or is the other party the seller?

[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.

[jltait]

Police station is better than bank. Some places have designated areas for such transactions.

[sensui]

I would never meet anyone without confirming payment first. If they're not comfortable with that I move on.

Too many horror stories to even consider this risk as a seller. What people don't realize is even if you buy a watch from anyone here that's not local, you always pay first before your watch ships.. it the seller is reputable it's the same drill. Seller should easily satisfy any requests the buyer wants to see online with pictures/videos using today's technology before meeting. No reason to inspect in person if communication is done properly.

[Soultime]

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.

https://www.rolexforums.com/showthre...ht=Stolen+bank

[vh2k]

The OP’s post is clear. So the question is...

Should he ask him to allow him to see him withdraw his cash in front of him or not? ;)

[Generation]

Originally Posted by vh2k

The OP’s post is clear. So the question is...

Should he ask him to allow him to see him withdraw his cash in front of him or not? ;)

Surely, you're being facetious!

[Carry The Interest]

Originally Posted by vh2k

The OP’s post is clear. So the question is...

Should he ask him to allow him to see him withdraw his cash in front of him or not? ;)

Ha! See what you did there.

OP - you should revise your original question to make it clear whether you're the buyer or the seller.

As someone has already mentioned, you should see if you have a Safe Exchange Zone in your local area. I would much rather do the transaction there than a bank.

[ROLEXster]

Sell to a grey dealer near you.
You'll get a bit less without any danger or drama.

[owwreally]

I'd suggest you bring a mask due to COVID and potentially a gun for added protection.

[S2000_driver]

Police station lobby is best. I've done bank transactions. Always at my banks, though. So I know the layout, and I do the transaction close to the tellers as much as possible. There is nothing to hide. And yes, grey dealers are always an option. I've done that quite a bit because shipping (rather full insurance as an individual) is a hassle. You just have to be prepared to sell it 15 - 20% under market value if you go down the grey route.

[Oscar2010]

From a sellers perspective
My Bank
Get there early
Accept a Cashiers Check and the business card of a senior Manager, that issued the check (call to confirm prior to depositing at your Bank).
Scan the Drivers License and a pic of car/plates of buyer.

Buyer
Know what you are buying - Rolex Card should match original purchase receipt.
I would not send a wire, AFAIK they are not reversible (only with an Escrow service like Chrono24 use).
Scan the Drivers License and a pic of car/plates of seller.

[fskywalker]

Originally Posted by S2000_driver

Police station lobby is best. I've done bank transactions. Always at my banks, though. So I know the layout, and I do the transaction close to the tellers as much as possible. There is nothing to hide. And yes, grey dealers are always an option. I've done that quite a bit because shipping (rather full insurance as an individual) is a hassle. You just have to be prepared to sell it 15 - 20% under market value if you go down the grey route.

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[Kube]

I heard a story about someone getting their watch stolen at the bank when meeting for a sale so be careful. My recommendation would be police station instead.

[Santiago32]

Some Police stations have safe trade zones.


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[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*

[AK797]

I would meet at your bank, if he gives you cash in his bank then you have to leave the bank with all that cash and God knows what he has waiting for you outside. If at your bank then you can pay the money straight in so you leave with nothing, and you know the cash is Kosher. Make sure the bank or any location has a double set of security doors so no one can just run out, which can even happen in a police station. Also get there very early and if he knows what you look like, be vigilante that no one is coming for your watch on the way to the bank.

[Henrimontgomery]

I agree with people suggesting a police station.

Best course of action would be to call the station and ask them if this is possible. I am sure they will be more than happy to help, as 1 theft avoided is 1 report less on their desk ;)

[Yess]

I'd have a lawyer watching a lawyer... I learned that from that Rick Ross. He's blinged out.

[MacanS]

Bring a jewelers eye piece. I did that when I bought my Batman via face to face private sale. Guy had original AD receipt and everything, but I wanted to be sure.

The new creplicas coming out are very good, but lack the finder details.

[opaline460]

make sure you wear the good running shoes, if you have to chase.

[Bobby T]

I've done a dozen or so transactions at a bank where I was a seller........just did one last Friday.......most of them involving large amounts of cash. First of all, you need to be comfortable with the buyer and more importantly, you need to be smart By the same token, if you're not comfortable with the buyer, the surroundings, don't do it!! Have the buyer wire the money and then meet them anywhere you are comfortable.......good luck!!

[walkman2727]

Originally Posted by opaline460

make sure you wear the good running shoes, if you have to chase.

Which brand do you recommend?

[HedgeHogger]

Agree with the suggestions that he shows you his driver's license first (and allows you to photo it).

Also, if you're really nervous, make him tie his shoes together ;)

Or just use Chrono24 and eat the escrow fees.

[triple.lindy]

Originally Posted by Yess

I'd have a lawyer watching a lawyer... I learned that from that Rick Ross. He's blinged out.

LOL

[Pongster]

Originally Posted by walkman2727

Which brand do you recommend?

Adidas ultraboost