Edited - Timepiece Gentleman

[goodolejr]

He recently just announced in the "private" fb group that is he is closing off access to new members.

Not sure if there were any people clamoring to get in after this whole debacle, but that's the latest.

[vh2k]

Originally Posted by 11b1p

Ah, I see now. Still weird to have that as the first price you see.

Originally Posted by Etschell

Except you only get your deposit back when you wire the full amount. So I guess it is non refundable?

Seriously a $3k deposit for a 5500 speedmaster.

This seems absurd.

Originally Posted by raveltime

$3.000 deposits. Probably because of trolls.

Originally Posted by hutch300

That is the deposit. They have prices when you click.

Originally Posted by 11b1p

Their store webpage is back up. At least on iPhone it looks like all watches are $3000. Another web designer problem?

1. The company no longer owns ANY watches. EVERYTHING is consignment or “we will source it.”

2. Looks like a scam website to me. Doesn’t appear to be an actual Gentleman Timepieces LLC property.

• No contact information.
• No privacy policy.
• No terms and conditions.
• No copyright notice.
• This website probably isn’t even owned by the company. 99% chance it is Anthony’s personal domain. You aren’t doing business with an actual company. You are giving money to Anthony personally with no recourse whatsoever.

[vh2k]

Originally Posted by goodolejr

He recently just announced in the "private" fb group that is he is closing off access to new members.

Not sure if there were any people clamoring to get in after this whole debacle, but that's the latest.

He has no watches to offer at wholesale prices. The value proposition has disappeared. These people purchased a phantom service tier.

[Atone]

so is the B&M store gone?

[lutchki]

Originally Posted by vh2k

1. The company no longer owns ANY watches. EVERYTHING is consignment or “we will source it.”

2. Looks like a scam website to me. Doesn’t appear to be an actual Gentleman Timepieces LLC property.

• No contact information.
• No privacy policy.
• No terms and conditions.
• No copyright notice.
• This website probably isn’t even owned by the company. 99% chance it is Anthony’s personal domain. You aren’t doing business with an actual company. You are giving money to Anthony personally with no recourse whatsoever.

Now that is a solid business model!!


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[lutchki]

Basically a watch broker. That’s a first.

[GreenLantern]

Who owns the domain means nothing. A domain is a domain.

What matters is which account the money is moving in/out of. Are you wiring to his personal account, or to a business account?

That said, why is this business even still in business at this point?

[vh2k]

Originally Posted by GreenLantern

Who owns the domain means nothing. A domain is a domain.

What matters is which account the money is moving in/out of. Are you wiring to his personal account, or to a business account?

That said, why is this business even still in business at this point?

What matters is…. Who owns the website?

That’s why legitimate business websites have copyright notices, terms and conditions, privacy policy, contact information, etc.

In this case, there is nothing.

[GreenLantern]

Originally Posted by vh2k

What matters is…. Who owns the website?

That’s why legitimate business websites have copyright notices, terms and conditions, privacy policy, contact information, etc.

In this case, there is nothing.

That's right.

[77T]

GoDaddy owns the web servers, the domain name is registered privately, and the site is nothing but a shared hosting account.

I don’t see any intellectual property to protect on the website itself.

PayPal is being used in a manner contrary to generally acceptable e-commerce practices - just a shell for deposits that will be refunded upon purchase price wire clearance. Therefore zero protection to buyers.

I don’t see the charity auctions so that module hasn’t been mounted yet. If TPG honors their promise to those charities, I imagine interested parties will need to register by “buying” a “digital paddle” for $3K to bid.

This eliminates the pranksters and vets the true bidders. Then the losers are refunded. The winner to wire just like any buyer.


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[shaunylw]

If you want to do a $3,000 deposit prior to a wire, ok. Why would you list each watch as $3,000? Why wouldn’t you list it at the price you are selling, then note their is a $3,000 deposit?

Second, you’re charging a $3,000 deposit, then refunding it once you receive a full wire. Why wouldn’t you subtract the 3k from the total price and take the wire for the remaining amount?

The scary thing is the collective group of them couldn’t figure this process out. This was the best they could come up with .


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[Moondoggy]

Originally Posted by shaunylw

If you want to do a $3,000 deposit prior to a wire, ok. Why would you list each watch as $3,000? Why wouldn’t you list it at the price you are selling, then note their is a $3,000 deposit?

Second, you’re charging a $3,000 deposit, then refunding it once you receive a full wire. Why wouldn’t you subtract the 3k from the total price and take the wire for the remaining amount?

The scary thing is the collective group of them couldn’t figure this process out. This was the best they could come up with .


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but the trolling they would be getting I would imagine is off the wall, they want $3,000 PAYPAL to verify the buyer then the remaining can be any method I would assume.

[shaunylw]

Originally Posted by Moondoggy

but the trolling they would be getting I would imagine is off the wall, they want $3,000 PAYPAL to verify the buyer then the remaining can be any method I would assume.

I hear ya, i don’t think the $3,000 is a terrible idea to weed at the trolls. But why not subtract the 3k from the total invoice when they send the final payment wire? I don’t know many people willing to PayPal 3k as a goof, then refuse to pay the invoice and ask for a refund.


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[rambo99]

·they don't even have ss ceramic daytona for sale on their website.

[arbeiza]

Originally Posted by shaunylw

I hear ya, i don’t think the $3,000 is a terrible idea to weed at the trolls. But why not subtract the 3k from the total invoice when they send the final payment wire? I don’t know many people willing to PayPal 3k as a goof, then refuse to pay the invoice and ask for a refund.


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Because this way there is no real transaction and no fees from PayPal. PayPal will just authorize the 3K in the Credit Card, and then release them after the wire is confirmed. If there's no wire, they will capture the funds and pay the PayPal fee (which is not an issue because... that's just free money, so it's ok to lose 3%).

This is just dodgy AF, and if they keep doing that, PayPal will eventually cancel their merchant account. Yet another example...

[77T]

PayPal changed their seller refund policy a couple of years back. So now TPG is stuck paying the PP fee on the $3000 even when it is refunded later.

The net proceeds that flow into the TPG account from PP will have that transaction fee deducted automatically. Before PP changed their policy, a seller was made whole by reversal of the original transaction fee.

See: https://www.paypal.com/us/smarthelp/...ccount-faq1672

This TPG system of a $3000 PP “deposit” does have a cost, but it is less than the cost of lost time weeding out the fake buyer trolls.

I agree with those who suggested TPG should just let a buyer wire the remaining balance on a purchase. For example, if you buy a $14K watch, pay the $3K deposit and then owe $11K - the wire should be $11K - not the full $14K…

I especially put buyers on guard that the risk is 100% on you. If you found this thread while researching TPG please understand that point.

PP would have no role in a dispute - the only way to move ahead on such a transaction scheme with zero risk is if you are standing in the physical store (if it has reopened). Then you do full payment via PP (and maybe foot the 3.5% fee). Or bring cash. This way you walk out wearing the watch - let them ship the box & collateral.

You mitigate shipping risk and financial risk and potential future loss if Dallas RSC seizes it as stolen - or tell you it has fake parts, etc. Yes - I am suggesting you go directly to Dallas RSC after a Rolex purchase. PP disputes have a deadline so you want to validate the watch quickly. RSC won’t do that free - you submit it for an overhaul quote and pay their fee for an estimate. Then if they call a week or so later with bad news, PayPal can claw back the funds via a dispute process if that happened.

A wire while holding the watch won’t really work since clearing times vary up to a day. They aren’t going to let you walk out with the watch until funds clear. Also the financial risk of a stolen watch or one with fake parts is shifted to you with a wire.


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[descartes]

It’s just bizarre that the “Price” is listed as $3k with an explanation that it’s not really the price only when you open the link.

Also, they continue to mis-identify watches. This is a 5512 not a 1680. Not a good way to build back confidence with customers (and potential customers).

And, I personally don’t like the use of rolex stock photos if they don’t have the watch (and I suspect rolex won’t like it either).

These are pretty straightforward business practices to be messing up.




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[enjoythemusic]

...and the band played on.

It's always nice when musician(s) on the Titanic keep their audience entertained...

...right up until the very end.

[bwakus23]

Originally Posted by descartes

It’s just bizarre that the “Price” is listed as $3k with an explanation that it’s not really the price only when you open the link.

Also, they continue to mis-identify watches. This is a 5512 not a 1680. Not a good way to build back confidence with customers (and potential customers).

And, I personally don’t like the use of rolex stock photos if they don’t have the watch (and I suspect rolex won’t like it either).

These are pretty straightforward business practices to be messing up.




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Agree this whole thing just gets weirder and weirder.


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[Wahlberg]

Originally Posted by descartes

Also, they continue to mis-identify watches. This is a 5512 not a 1680. Not a good way to build back confidence with customers (and potential customers).

If Marco is the expert, why doesn't he write a little text next to the watch.

The condition of this watch, the mismatching hands (just get it colored matched), bezel, ... Put a little effort in it.

Are people really paying 15.5k for this?

[rambo99]

Originally Posted by Wahlberg

If Marco is the expert, why doesn't he write a little text next to the watch.

The condition of this watch, the mismatching hands (just get it colored matched), bezel, ... Put a little effort in it.

Are people really paying 15.5k for this?

may be marco has already parted company with anthony.

[bwakus23]

Originally Posted by rambo99

may be marco has already parted company with anthony.

That's exactly what I was thinking. Marco hasn't said a word in a while even on social (that I've seen).

[Longhorn]

Hell of a proposition after all this to ask customers to trust them to hold the $3K deposit, full wire, and watch at the same time before the full purchasing process plays out. They aren't priced any more aggressively in the market, plenty of other dealers with the same stock without the hoops and hassle. But I guess the same "people they do business with" that thought they were geniuses, won't mind.

[shkure]

Are we still talking about these crooks? Just let them fade into obscurity.


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[priceaction]

It would appear they are fading into obscurity.

Originally Posted by shkure

Are we still talking about these crooks? Just let them fade into obscurity.


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[shaunylw]

Originally Posted by arbeiza

Because this way there is no real transaction and no fees from PayPal. PayPal will just authorize the 3K in the Credit Card, and then release them after the wire is confirmed. If there's no wire, they will capture the funds and pay the PayPal fee (which is not an issue because... that's just free money, so it's ok to lose 3%).

This is just dodgy AF, and if they keep doing that, PayPal will eventually cancel their merchant account. Yet another example...

Oh… got it. That makes total sense.


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[enjoythemusic]

Originally Posted by priceaction

It would appear they are fading into obscurity.

[RJRJRJ]

With their dealer connections probably in jeopardy, they may even have a hard time sourcing your watch after you pay them, leaving your money in limbo for who knows how long.

[dauster]

Originally Posted by 77T

PayPal changed their seller refund policy a couple of years back. So now TPG is stuck paying the PP fee on the $3000 even when it is refunded later.

The net proceeds that flow into the TPG account from PP will have that transaction fee deducted automatically. Before PP changed their policy, a seller was made whole by reversal of the original transaction fee.

See: https://www.paypal.com/us/smarthelp/...ccount-faq1672

This TPG system of a $3000 PP “deposit” does have a cost, but it is less than the cost of lost time weeding out the fake buyer trolls.

I agree with those who suggested TPG should just let a buyer wire the remaining balance on a purchase. For example, if you buy a $14K watch, pay the $3K deposit and then owe $11K - the wire should be $11K - not the full $14K…

I especially put buyers on guard that the risk is 100% on you. If you found this thread while researching TPG please understand that point.

PP would have no role in a dispute - the only way to move ahead on such a transaction scheme with zero risk is if you are standing in the physical store (if it has reopened). Then you do full payment via PP (and maybe foot the 3.5% fee). Or bring cash. This way you walk out wearing the watch - let them ship the box & collateral.

You mitigate shipping risk and financial risk and potential future loss if Dallas RSC seizes it as stolen - or tell you it has fake parts, etc. Yes - I am suggesting you go directly to Dallas RSC after a Rolex purchase. PP disputes have a deadline so you want to validate the watch quickly. RSC won’t do that free - you submit it for an overhaul quote and pay their fee for an estimate. Then if they call a week or so later with bad news, PayPal can claw back the funds via a dispute process if that happened.

A wire while holding the watch won’t really work since clearing times vary up to a day. They aren’t going to let you walk out with the watch until funds clear. Also the financial risk of a stolen watch or one with fake parts is shifted to you with a wire.


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if I buy a watch don't I just wore the entire amount and then they will ship the watch? what am I missing with the whole paypal system - why is that needed?

[77T]

Originally Posted by shaunylw

Oh… got it. That makes total sense.


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Except his post isn’t true…fees apply to any payment a seller receives - even if the seller refunds the full amount.

You can see my post a few dozen upward.


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