Richard (Exclusivewatches) Cancelled the Sale After Receving the Funds

[simbal]

Originally Posted by HL65

Agree my friend.

Exclusivewtaches I guess your watches aren't so exclusive as they get sold twice to different people. Just saying.

+1 ... not a good practice for this seller.

[bondtoys]

[PJ S]

Originally Posted by Kellokonttori

My input: bad behaviour from the seller and he should make up for the $600. Sometimes it stings but in the end all that matters is a happy customer.

What comes to that $600, there's more to that than just the currency fluctuation. Banks buy and sell currency at different rates and that can easily create a difference of several hundred USD. Add an unfortunate currency move and $600 is there. Since I don't have past rates available and don't know which banks are involved, I obviously can't say for sure that this is the case here - but it's very possible.

From personal experience I can say this: I sold a 9700 EUR watch to a US buyer. The buyer made the payment in USD for a correct EUR amount but I ended up 350 € short. The reason were his banks bad currency rate and exchange cost. Of course we got it right without any hick ups.

Yours is a bit less than 3.65%, the OP's is 15%. Currency fluctuations don't account for that much in the space of only a week.

[PJ S]

Originally Posted by bondtoys

Gives the ex-member more time to spend watching his wife – allegedly!

[Kellokonttori]

Originally Posted by PJ S

Yours is a bit less than 3.65%, the OP's is 15%. Currency fluctuations don't account for that much in the space of only a week.

That difference was only because of the bank costs. EUR did weaken a lot in quite a short time. Make no mistake, I'm not defending the seller in ANY way. My point was only to show that with some banks the bank costs may be surprisingly big.

[SMD]

Originally Posted by Kellokonttori

From personal experience I can say this: I sold a 9700 EUR watch to a US buyer. The buyer made the payment in USD for a correct EUR amount but I ended up 350 € short. The reason were his banks bad currency rate and exchange cost. Of course we got it right without any hick ups.

This is a very simple issue -- buyer sends funds in the correct currency. Have the bank convert on the front end and then send in EUR. Done. Not sure how else you can do it unless you know the exchange rate the bank will give you at the exact moment you are moving the money. I always do it that way, and if I were selling I expect the buyer to do the same thing.

[Kellokonttori]

Yes, that's how it's done and the seller gets the right amount. However, if the buyer gives his bank a payment order for the EUR amount but in USD (or the other way around), that shortage will happen. Buyer initially saves a few hundred but seller comes up short.

[bayerische]

Originally Posted by PJ S

Yours is a bit less than 3.65%, the OP's is 15%. Currency fluctuations don't account for that much in the space of only a week.

Nope, the buyer sent the full amount, around 9K. So Kellokonttori is right in his assesment.

Glad the seller is banned, hopefully the OP can get some of his cash back, but I doubt it.

Knowing Kellokonttori personally he didn't try to defend the seller.

[owen5150]

This was very poorly handled by the seller. Great response by the mod in banning him from the site. Hope the OP gets his money back, but I realize it is a long shot. Thanks for sharing this story with the rest of us.


Sent from my iPhone using Tapatalk

[NewRolexer2016]

Thanks everyone for your comments and thanks to the moderators for doings what's right to keep the forum safe.

I lost $600 but I learned a very valuables lesson. I'm relieved that I wasn't actually scammed and I got most of my money back. But from now on, I won't use wire transfer with non-US sellers and always make a clear contract before buying/selling..

[Britexpat76]

Originally Posted by SMD

This is a very simple issue -- buyer sends funds in the correct currency. Have the bank convert on the front end and then send in EUR. Done. Not sure how else you can do it unless you know the exchange rate the bank will give you at the exact moment you are moving the money. I always do it that way, and if I were selling I expect the buyer to do the same thing.

This is the correct way to do it, and make sure you click to pay all charges from receiving bank.

[Ascotshoes]

We sell high end shoes – if a client paid a deposit it’s a done deal.
It belongs to them unless they decide to cancel – If we decide to cancel
Due to unforeseen circumstances we will bear ALL transaction costs.

Running a successful business dealing with high end products
Has a lot to do with trust and integrity.

[Ranfni]

Originally Posted by Ascotshoes

We sell high end shoes – if a client paid a deposit it’s a done deal.
It belongs to them unless they decide to cancel – If we decide to cancel
Due to unforeseen circumstances we will bear ALL transaction costs.

Running a successful business dealing with high end products
Has a lot to do with trust and integrity.

Well said.

[cab56]

Originally Posted by Ascotshoes

We sell high end shoes – if a client paid a deposit it’s a done deal.
It belongs to them unless they decide to cancel – If we decide to cancel
Due to unforeseen circumstances we will bear ALL transaction costs.

Running a successful business dealing with high end products
Has a lot to do with trust and integrity.

Very, very well said.