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Old 23 February 2020, 12:38 PM   #1
techflux
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Buying Process

I'm new to TRF and would like to get guidance on what is the best method to conduct transaction with another seller, so both parties are confident with process and outcome. As a buyer, its challenging to assume the risk of wiring someone you don't know $10K, $20K, $30K+ and expect them will send you the merchandise. I believe trust is earned through time, and its hard for accept a seller saying "i have done lots of transactions in the forums, so you are 100% safe with me." I don't mind loosing $500 to $1K, when you are conducting transaction of a large size, what is the most reasonable method? I proposed using an escrow, buyers transfer the funds to escrow, merchandise is delivered and verified for authenticity, and fund is released to seller. Is this the normal method TFE buyers tend to go with?
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Old 23 February 2020, 10:09 PM   #2
Pim
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I trust NO ONE, so i will take my actions accordingly.

The whole Horology House farce made it clear that even the 'trused' dealers can default or scam you.

1. be sure you have recourse when thing go south. Be able to make a claim to PayPal, credit card company or dealer. A well know dealer (e.g. luxury bazar) has a name to lose, a dealer on TRF doesn't

2. Trust but verify. Have you watch checked by a dealer before you take delivery

3. Collect the watch yourself. If this is not possible, find another seller.

4. If the price is to good to be true ..........

Don't forget that the golden rules is: You don't buy the watch, you buy the seller
Having 10.000 in you account isn't much. Losing 10.000 is very very painful


my 2cts
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Old 23 February 2020, 10:46 PM   #3
Vetracer
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Quote:
Originally Posted by Pim View Post
I trust NO ONE, so i will take my actions accordingly.

The whole Horology House farce made it clear that even the 'trused' dealers can default or scam you.

1. be sure you have recourse when thing go south. Be able to make a claim to PayPal, credit card company or dealer. A well know dealer (e.g. luxury bazar) has a name to lose, a dealer on TRF doesn't

2. Trust but verify. Have you watch checked by a dealer before you take delivery

3. Collect the watch yourself. If this is not possible, find another seller.

4. If the price is to good to be true ..........


Don't forget that the golden rules is: You don't buy the watch, you buy the seller
Having 10.000 in you account isn't much. Losing 10.000 is very very painful


my 2cts

This is the best advice. A friend of mine bought a 11660LV from private seller on Chrono24. It was a great price or so he thought. The watch started losing time so he sent it to RSC for a service. He was told that the case, dial and hands were original and matched the paperwork. However, the movement was fake. He’s gutted because he took the watch to be verified but the place he went to didn’t open the case back. He’s also gutted because the watch is all expected to be discontinued this year.

I’ve only ever bought from ADs or greys with a shop presence and fantastic reputation, such as Watchfinder (before they became ludicrously overpriced), Trotters Jewellers, Chronext, Watchmaster.

I wonder how many people out there have watches containing Frankenstein parts and they just don’t know yet.
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Old 24 February 2020, 12:09 AM   #4
beshannon
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Quote:
Originally Posted by techflux View Post
I'm new to TRF and would like to get guidance on what is the best method to conduct transaction with another seller, so both parties are confident with process and outcome. As a buyer, its challenging to assume the risk of wiring someone you don't know $10K, $20K, $30K+ and expect them will send you the merchandise. I believe trust is earned through time, and its hard for accept a seller saying "i have done lots of transactions in the forums, so you are 100% safe with me." I don't mind loosing $500 to $1K, when you are conducting transaction of a large size, what is the most reasonable method? I proposed using an escrow, buyers transfer the funds to escrow, merchandise is delivered and verified for authenticity, and fund is released to seller. Is this the normal method TFE buyers tend to go with?
If you can find a seller that will use escrow and that suits both parties then do that.

To your larger question, if this is a problem for you, then buy from an Authorized Dealer with a credit card.
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Old 24 February 2020, 12:31 AM   #5
brandrea
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Quote:
Originally Posted by beshannon View Post
If you can find a seller that will use escrow and that suits both parties then do that.

To your larger question, if this is a problem for you, then buy from an Authorized Dealer with a credit card.
Pretty much this

The trusted sellers here many of whom are sponsors for our giveaways.
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Old 24 February 2020, 01:54 AM   #6
swaini3
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You can do a reference check on the buyer. unfortunately nowadays, scammers are constantly coming up with new techniques and it pushes away potential buyers, new collectors etc.
All the above is sound advice. dont forget:
check return policy,
if wiring money, you better wire it to the seller himself, not someone else.
I dealt with a few sellers here that were honest, no cheekiness etc. so thats great.
I came across this video on youtube which I found interesting.... Good luck.

https://www.youtube.com/watch?v=CQeNW60VpIw
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Old 24 February 2020, 02:13 AM   #7
GGGMT
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This is very Easy: buy from a very few trusted sellers here. 6-7. Donít need escrow, donít need PayPal etc if buying from great people. Kirill. CWeib. DavidSW. HQ and Jacek, Bobs. Takuya. Aamir. These guys are never going bad. Never. Iíve wired $$$$$ and slept comfortably until receiving watch after watch from these types. Always perfect deals. But I never leave the group. If I need escrow or PayPal, i donít trust the seller 100% and therefore I ainít doing the deal.


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Old 24 February 2020, 02:17 AM   #8
dimag333
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my thing with wiring is, what if the dude gets in an accident or something on the way to post office or something tragic happens, no recourse, no way to get watch or money back, I gladly pay cc and paypal fees

The only one I think might be large enough in my eyes I have dealt with is David

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Old 24 February 2020, 02:33 AM   #9
GGGMT
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what if the dude gets in an accident or something on the way to post office or something tragic happens

I guess, but itís as impossible with watches as it is with finance / Investment to quantify these types of risks that are unquantifiable. Your 2% PP fee far far far exceeds the risk that HQ Milton it Aamir canít get their insured package into Fedex, which for all my sellers pickup up the packages at sellersí office.



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Old 24 February 2020, 03:09 AM   #10
dimag333
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I guess, but it’s as impossible with watches as it is with finance / Investment to quantify these types of risks that are unquantifiable. Your 2% PP fee far far far exceeds the risk that HQ Milton it Aamir can’t get their insured package into Fedex, which for all my sellers pickup up the packages at sellers’ office.



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I don’t take wires in my business either, cc or transfer via quickbooks, too many variables in life. So I apply this to my business also. I don’t know who hq Milton is, I’m talking about private sellers

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