Best practices buying from private seller

[AAK_JR]

The private owner insist on a wire transfer and I'm suggesting an escrow company. Since I do not know this person sending $14k without recourse is a gamble. What do you all suggest?

[beshannon]

How do you know the seller?

[dmb359]

do your research. If you're comfortable with the seller and watch, wire the money, if not, don't buy.

I wouldn't want to go through the hassle of an escrow company, I would just want a wire transfer too. Most common way.

[timedate]

is there a risk? is that risk worth it?

to me the answer is yes and no. Face to face only for me.

[Tools]

Originally Posted by AAK_JR

The private owner insist on a wire transfer and I'm suggesting an escrow company. Since I do not know this person sending $14k without recourse is a gamble. What do you all suggest?

How you conduct a transaction is between you and the seller. If you aren't happy, or the seller isn't happy, move on.

[kwcsports]

Buy the seller, if you're nervous, walk away.

[tyler1980]

Originally Posted by AAK_JR

The private owner insist on a wire transfer and I'm suggesting an escrow company. Since I do not know this person sending $14k without recourse is a gamble. What do you all suggest?

private buyer insists the watch gets sent first then will pay later.... see where im going with this??


either way with two unknown parties someone has to go first. FWIW i have rarely seen anyone use escrow. PayPal maybe but then there are fees if you want buyer protection

[mjclark32]

I suggest finding a seller you trust completely.
I've only bought through wire and have only sold through wire... never a problem, but as a seller I always wanted to make sure the buyer was comfortable with me. Phone calls, email from my work email address, offer face to face, pictures/texts on way to shipping etc etc.

[AAK_JR]

Originally Posted by beshannon

How do you know the seller?

Watch is for sale on this Forum.

[Bostonbert]

Meet in a bank (your bank). Tell the bank what’s going on. Bring a jeweler’s loop and someone who knows how to use it. Only a fool wires thousands to a private party. I would never do what you’re about to do for a watch...

[AAK_JR]

Originally Posted by tyler1980

private buyer insists the watch gets sent first then will pay later.... see where im going with this??

Yes but I also wired my money.

[/QUOTE]either way with two unknown parties someone has to go first. FWIW i have rarely seen anyone use escrow. PayPal maybe but then there are fees if you want buyer protection[/QUOTE]

Chrono24 uses an escrow service if buying thru them and seems to be a way both parties are protected. I know what my options are and seems wire transfer is the most common but maybe with a brick and mortar and sales history.

[Lgear080]

What watch is it? Do you need help finding one locally? Never buy or sell without 100% confidence in the other party. Does the seller have references? Can you justify flying to meet F2F?

[AAK_JR]

Originally Posted by Bostonbert

Meet in a bank (your bank). Tell the bank what’s going on. Bring a jeweler’s loop and someone who knows how to use it. Only a fool wires thousands to a private party. I would never do what you’re about to do for a watch...

That's why I suggested to use an escrow company so it assures me I will receive what I paid for and have a couple days to verify it's authentic.

[dmb359]

Originally Posted by AAK_JR

That's why I suggested to use an escrow company so it assures me I will receive what I paid for and have a couple days to verify it's authentic.

If someone suggested an escrow company to buy a watch I was selling, I'd decline and move on to a different buyer. It's not the norm, and more of a hassle than its worth. Plenty of buyers out there for sellers, and plenty of places to find the same watch for buyers.

I've never felt worried/concerned about a watch I was buying, I always have felt confident in the watch and the seller before I sent any money. I've purchased tons of watches on the forum, from dealers and private parties, and sold tons of watches on the forum.

Just go meet them in person to do the deal, do your research and wire the money, or pass and move on to a different watch/seller.

[Danny83]

Just be careful if you cant get the watch from a trusted seller. Have seller take pics or facetime.

[brandrea]

Originally Posted by AAK_JR

Watch is for sale on this Forum.

Is it through one of the trusted sellers here?

[AAK_JR]

Originally Posted by Lgear080

What watch is it? Do you need help finding one locally? Never buy or sell without 100% confidence in the other party. Does the seller have references? Can you justify flying to meet F2F?

It's a 2017 GMT BLNR, box, papers, tag, looks to be in Mint condition and we have agreed on the price thru email. I'm in South Florida, his is in NC. I'm new to this forum and the seller only has 32 post but a member since 2013.

[AAK_JR]

Originally Posted by brandrea

Is it through one of the trusted sellers here?

Where is that list?

[dmb359]

If that concerns you too much, buy a BLNR from one of these stellar sellers on the forum:

https://www.rolexforums.com/showthread.php?t=680448

https://www.rolexforums.com/showthread.php?t=686830

https://www.rolexforums.com/showthread.php?t=680816

https://www.rolexforums.com/showthread.php?t=683683

[teqp]

Originally Posted by AAK_JR

The private owner insist on a wire transfer and I'm suggesting an escrow company. Since I do not know this person sending $14k without recourse is a gamble. What do you all suggest?

A seller can ask whatever price they want and how they want to be paid. If you, as a buyer, don't agree with their terms, you need to move on to another seller.

[Lgear080]

Gotta say take a pass if a wire is the only pay method... I think you can find the same deal or very close to it locally. As an alternate you could easily fly to do a F2F for under $300.

[ZOOK]

Originally Posted by Danny83

Just be careful if you cant get the watch from a trusted seller. Have seller take pics or facetime.

Originally Posted by AAK_JR

It's a 2017 GMT BLNR, box, papers, tag, looks to be in Mint condition and we have agreed on the price thru email. I'm in South Florida, his is in NC. I'm new to this forum and the seller only has 32 post but a member since 2013.

I've always asked for photos and phone number so I can talk to the seller before completing a purchase on TRF. If possible do facetime, request to see watch and the seller's identification to confirm who you are dealing with. Make sure it is the same person you will be sending the wire transfer to.

A person with only 32 posts would not have obtained 'Trusted Seller' status. A trusted seller will have 100s if not 1000s of posts. And many, many references in the 'Who's who' forum.


BUY THE SELLER

[GSDLover]

Originally Posted by Lgear080

Gotta say take a pass if a wire is the only pay method... I think you can find the same deal or very close to it locally. As an alternate you could easily fly to do a F2F for under $300.

I think flying up is what i would do, if possible.

[maylebox]

Pay the paypal fee. 3% is cheap for peace of mind and possible loss of $14K. I wouldn't wire money to anyone who is not a true trusted seller. If the watch isn't worth adding 3% then I'd find another watch.

[1911dude]

How about get in your car and drive up there or hope on a flight ?

[joli160]

If in doubt ...

[V25V]

Originally Posted by mjclark32

I suggest finding a seller you trust completely.
I've only bought through wire and have only sold through wire... never a problem, but as a seller I always wanted to make sure the buyer was comfortable with me. Phone calls, email from my work email address, offer face to face, pictures/texts on way to shipping etc etc.

+1. OP, this is normal practice and if you are uncomfortable sending the person money, don't and find someone you are.