Chrono24 Excessive Selling Fees 6.5%

[woodstock247]

Originally Posted by Topsyworld

Wow, 6.5% what did it use to be. I got rid of my Omega collection on a Omega board. Didn’t know they had a percentage, thought it would be a flat fee like a Auto Trader.

Crazy fees, agree should be a flat sales fee. A retail store would be happy at 6.5% Net . Just a little short sighted and greedy

[wach16]

Never sold anything on Chrono24 but 6.5% seems aggressive for sure

[Montremoi]

I can only give my point of view as a buyer, and for that Chrono24's third-party payment handling is a blessing.

I wouldn't want to buy an expensive item from an unknown individual whom I can't meet due to him being located remotely from where I live - but this third-party system solves a good chunk of this trust issue.

[woodstock247]

Originally Posted by wach16

Never sold anything on Chrono24 but 6.5% seems aggressive for sure

I agree too expensive for me will not use again.

[m j b]

I listed a watch on C24 which never sold. All it took was an email to them to avoid the fee. So, in the USA anyway, customer service was excellent.

EBay fees and the risk of fraud keeps me from selling watches on that platform. It's fine for less expensive stuff.

[woodstock247]

Originally Posted by Montremoi

I can only give my point of view as a buyer, and for that Chrono24's third-party payment handling is a blessing.

I wouldn't want to buy an expensive item from an unknown individual whom I can't meet due to him being located remotely from where I live - but this third-party system solves a good chunk of this trust issue.

I agree it is a big help for secure payments but Escrow is a third party payment company that Chrono24 use, so I think there is a great opportunity to copy their business model and offer a better service to buyers and sellers. Being greedy is very short sighted for a relatively new copy with a simple model.

[Montremoi]

Originally Posted by woodstock247

Just a little short sighted and greedy

They know they can get away with it because they're market leaders.

Just like Adobe forcing people to rent their software instead of buying them - a lot of people hate it, but despite this Adobe's profits have continued to grow.

Or Microsoft and their piece of crap Windows 10 which is now marketed as a service (lol wtf) and forces its dubious updates onto the users. Again, a lot of people hate it, but Microsoft's profits have continued to grow.

[woodstock247]

Originally Posted by m j b

I listed a watch on C24 which never sold. All it took was an email to them to avoid the fee. So, in the USA anyway, customer service was excellent.

EBay fees and the risk of fraud keeps me from selling watches on that platform. It's fine for less expensive stuff.

They charge the extortionate fee when you sell not if you list 6.5% crazy. Listing and deleting an ad are free.

[woodstock247]

Originally Posted by Montremoi

They know they can get away with it because they're market leaders.

Just like Adobe forcing people to rent their software instead of buying them - a lot of people hate it, but despite this Adobe's profits have continued to grow.

Or Microsoft and their piece of crap Windows 10 which is now marketed as a service (lol wtf) and forces its dubious updates onto the users. Again, a lot of people hate it, but Microsoft's profits have continued to grow.

In the UK Tesco supermarkets and Asda (Walmart UK) were also market leaders and they have both declined rapidly by not listening to their customers or suppliers.
Microsoft have Apple in the USA to keep them in check . Chrono24 need a competitor to keep them inline for sure.

[Montremoi]

Originally Posted by woodstock247

I agree it is a big help for secure payments but Escrow is a third party payment company that Chrono24 use, so I think there is a great opportunity to copy their business model and offer a better service to buyers and sellers. Being greedy is very short sighted for a relatively new copy with a simple model.

Technically it's indeed a straightforward model to copy. However what is difficult to recreate is the brand equity.

It can take a lot of efforts to convince sellers and buyers to use your new platform instead of the established ones. Habits are hard to change. Look at Ebay and Amazon, despite many attempts to challenge their leadership, only few has been successful. It takes a radical model to undercut the dominant player.

[woodstock247]

Originally Posted by Montremoi

Technically it's indeed a straightforward model to copy. However what is difficult to recreate is the brand equity.

It can take a lot of efforts to convince sellers and buyers to use your new platform instead of the established ones. Habits are hard to change. Look at Ebay and Amazon, despite many attempts to challenge their leadership, only few has been successful. It takes a radical model to undercut the dominant player.

I think somebody will compete with them given their margins and the site can be improved and more value can be added. Agree it would be an easy one but maybe somebody will.

[Montremoi]

Originally Posted by woodstock247

In the UK Tesco supermarkets and Asda (Walmart UK) were also market leaders and they have both declined rapidly by not listening to their customers or suppliers.
Microsoft have Apple in the USA to keep them in check . Chrono24 need a competitor to keep them inline for sure.

As far as I know, the Bri'ish supermarket chains have been put under intense pressure by the arrival of German hard discounters. It's the kind of radical innovation I alluded to in my other post.

Had the German chains been classic ones, I doubt their commercial effect on the market would have been as much devastating as that of hard discounters.

[woodstock247]

Originally Posted by Montremoi

As far as I know, the Bri'ish supermarket chains have been put under intense pressure by the arrival of German hard discounters. It's the kind of radical innovation I alluded to in my other post.

Had the German chains been classic ones, I doubt their commercial effect on the market would have been as much devastating as that of hard discounters.

Agree 100% so true

[djgallo]

1st selling platform choice would be the online watch forums and no fees

2nd would be Ebay or Chrono24 and deal with the fees

3rd and last would be trusted sellers....they take the biggest bite.

Maybe I’m just fortunate but I’ve never had to sell to the trusted sellers.....always sold it on the above 3 ways...

[woodstock247]

Originally Posted by djgallo

1st selling platform choice would be the online watch forums and no fees

2nd would be Ebay or Chrono24 and deal with the fees

3rd and last would be trusted sellers....they take the biggest bite.

Maybe I’m just fortunate but I’ve never had to sell to the trusted sellers.....always sold it on the above 3 ways...

That makes good sense thank you for the advice

[joli160]

I would not sell to a private person via any platform, lot's of risk and potential pitfall's.
Accept the loss and sell direct to a dealer for a worry free deal

[woodstock247]

Originally Posted by joli160

I would not sell to a private person via any platform, lot's of risk and potential pitfall's.
Accept the loss and sell direct to a dealer for a worry free deal

OK Thank you for your input

[ArtNouveau]

I have grown to hate selling my watches. Back in the carefree days (90’s to maybe 2010ish) online scamming was still pretty rare, people weren’t abusing Paypal, and it was much easier to “buy the buyer.”
I bought and sold a bunch of watches using Timezone, WUS, Watchnet, and one here. Sent and received money up to $10K based solely on the mutual trust people had for each other. I’ve grown much more wary now. I sold one watch each in the last couple of years here and on WUS but both under $3K.
The last Rolex I sold I ended up selling to Takuya who has a presence here in my town. Got less for it than a private sale might have netted but so much more stress and hassle free.

[Tavli3]

Originally Posted by Montremoi

Technically it's indeed a straightforward model to copy. However what is difficult to recreate is the brand equity.



It can take a lot of efforts to convince sellers and buyers to use your new platform instead of the established ones. Habits are hard to change. Look at Ebay and Amazon, despite many attempts to challenge their leadership, only few has been successful. It takes a radical model to undercut the dominant player.

I’ve noticed a dramatic drop in the Number of watches listed on EBay in particular the number watches on auction. I see very few now offered via auction. At least for the Rolex and speedmaster I look at.


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[woodstock247]

Originally Posted by Tavli3

I’ve noticed a dramatic drop in the Number of watches listed on EBay in particular the number watches on auction. I see very few now offered via auction. At least for the Rolex and speedmaster I look at.


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I suppose finding a good honest dealer is also a good idea. Maybe a sale or return type deal would make sense?

[Bizcut1]

New challenge with eBay is the sales tax they are charging...a true bummer.

[Jakey]

I have sold using Gumtree as stated previously. I prefer the free sites mainly because C24 - eBay/Paypal as the likes, charge a ridiculous amount. I have sold and purchased with much success. It appears that many others have followed this path. to me it makes much sense, but as always, do your due diligence.

[woodstock247]

Originally Posted by Bizcut1

New challenge with eBay is the sales tax they are charging...a true bummer.

Yeah, just need to find better ways to sell now

[woodstock247]

Originally Posted by Jakey

I have sold using Gumtree as stated previously. I prefer the free sites mainly because C24 - eBay/Paypal as the likes, charge a ridiculous amount. I have sold and purchased with much success. It appears that many others have followed this path. to me it makes much sense, but as always, do your due diligence.

Thanks for that may be worth a try

[TERRYSHARKLES]

I read quite a few posts on here slamming e bay for scammer buyers and fees. Well get this I sold my date Just 41mm was looking £9600 had a buy it now minimum £8700 in the end I settled for £8600 there was a guy selling a watch on e bay too I contacted him to buy a watch he advertised and he asked what watch I was selling so he looked at it and we traded of e bay PayPal fee was non existent as he sent it to me as a gift we exchanged driver licence details by way of a written invoice with driver licence on top of written paper to confirm who we both were. He sent me the money I posted the watch next day he received the watch and was 100% happy with his purchase though he was a trader so was flipping the watch as soon as he received it was back out the door I just wonder for how much.

[Gingerbule]

I was going to use Chorono24 to sell my GMT Master ll Pepsi and went through all the crap of registering which is slow and then see the fees and thought no thanks.

Tried ebay full of weirdos and dreamers any other ideas woukd be welcome.

[Chewbacca]

This thread has legs and I don’t believe anyone said ‘here’. Here’s a good place to sell. The classifieds.

[TheVTCGuy]

Here’s my experience on chrono 24. Last year, searched for a limited edition Seiko, only sold in Europe and only 2,000 pieces made. Found it on chrono 24, never dealt with them before but it was a good price so I ordered it. Next day, I received an Email from the seller, saying the shipping prices to the US were too high and he wouldn’t sell me the watch. I was shocked, read and re-read the ad and it said NOTHING about restricted shipping. Why would it be up there if he would not sell at the listed price? I blasted them on every outlet I could on social media, what a scam. A couple days later, the seller contacted and me and said he would sell it to me. Yeah, no thanks. Needless to say I have a low opinion of that site.

[77T]

Originally Posted by Chewbacca

This thread has legs and I don’t believe anyone said ‘here’. Here’s a good place to sell. The classifieds.

Sure they did - post 16 for example.

Originally Posted by Harry-57

Is it not out of the question to sell on this forum?

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[sp006]

Originally Posted by TheVTCGuy

Here’s my experience on chrono 24. Last year, searched for a limited edition Seiko, only sold in Europe and only 2,000 pieces made. Found it on chrono 24, never dealt with them before but it was a good price so I ordered it. Next day, I received an Email from the seller, saying the shipping prices to the US were too high and he wouldn’t sell me the watch. I was shocked, read and re-read the ad and it said NOTHING about restricted shipping. Why would it be up there if he would not sell at the listed price? I blasted them on every outlet I could on social media, what a scam. A couple days later, the seller contacted and me and said he would sell it to me. Yeah, no thanks. Needless to say I have a low opinion of that site.

There are also so many sellers on there that don’t actually possess the watch being sold.


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