Shipping and Insurance

[djborden1957]

I hope to be selling a high end watch on Chrono24 and am looking for suggestions how to package, ship and insure it. Thanks.

[beshannon]

Originally Posted by djborden1957

I hope to be selling a high end watch on Chrono24 and am looking for suggestions how to package, ship and insure it. Thanks.

https://www.chrono24.com/info/guide/sell-watch.htm

[Solo118]

Originally Posted by djborden1957

I hope to be selling a high end watch on Chrono24 and am looking for suggestions how to package, ship and insure it. Thanks.

I had no issues with UPS, they can insure the amount you put in plus they sometimes have coupon codes to use. For context, last month I shipped a watch insured around $25k for about $350 (after about $100 discount)

Packing on the other hand is another thing. I put the watch in bubble wrap inside the Rolex box, then I wrap the box in bubble wrap and put it into a box. Then I put that box into another box. The main thing is to make sure everything is TIGHT, nothing sloshing around in the box. Use tons of tape as well. It never hurts to use extra tape!

[Calatrava r]

Shipping insurance is available through Registered Mail up to 50K, but most buyers become uncomfortable where the item can take more than a week to be delivered with that service. Best to insure through a personal articles policy before you ship. FedEx Express is what most merchants use. Their packaging is actually quite good. If you have your presentation box which came with the watch, it is designed to transport the watch in. Then "box packed within a box" with nothing moving around through shock stuffing of some type is the way to go. All the watches I have received shipped to me by merchants were not overkill or over thought in the packing and the watches were fine.

[ACepero]

Same situation - sold a watch on Chrono24. Went to my local FedEx spot near work and they wouldn't/couldn't insure anything over $1,000.

So, I paid for the shipping using their site, insured for the full value, added a requirement for a signature, and printed my own label.

I'll bring that to the FedEx spot and that should take care of it.

[Solo118]

Originally Posted by ACepero

Same situation - sold a watch on Chrono24. Went to my local FedEx spot near work and they wouldn't/couldn't insure anything over $1,000.

So, I paid for the shipping using their site, insured for the full value, added a requirement for a signature, and printed my own label.

I'll bring that to the FedEx spot and that should take care of it.

Not sure if this is true or not but Fedex might not insure a watch/jewelry. Not sure what you put in the description, but curious to see if they changed their policies.

Note that most/all gray dealers/ADs use Fedex but they insure it separately

[ACepero]

So, then wouldn't a separate insurance policy on your watches cover the loss?

For example, if the watch is already covered by Hodinkee (Chubb) insurance, would one need insurance on the shipment?

[daveswordfish]

Been a while since I shipped an expensive piece, but be very careful. Carriers will sell you insurance, but if you read the fine print it will state that watches are not insure-able . For example, USPS will not pay out insurance on a watch unless it sent registered mail, but will sell you insurance if you send it priority. They just don’t know the ins and outs. Fedex has, I believe, a max they’ll pay out on a watch but will sell you as much insurance as you want. Again, the agents aren’t fully up to speed on the regs and the website doesn’t check the insurance amount against the item type. Just be careful.


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[beshannon]

Originally Posted by ACepero

So, then wouldn't a separate insurance policy on your watches cover the loss?

For example, if the watch is already covered by Hodinkee (Chubb) insurance, would one need insurance on the shipment?

Yes

I always keep my coverage until the watch has reached its destination and the transaction is complete

[train-time]

Originally Posted by ACepero

So, then wouldn't a separate insurance policy on your watches cover the loss?

For example, if the watch is already covered by Hodinkee (Chubb) insurance, would one need insurance on the shipment?

You would have to check with your insurance carrier. I know many, including Jewelers Mutual changed coverage to no longer include a piece that is being shipped because you sold it. They call it "voluntary parting" and it not covered for loss. They will not cover the watch being sold if you incur a loss due to fraudulent payment methods as well.

[Bizcut1]

It's rare for me to sell and ship a watch of this value.

I use Parcel Pro and UPS when I do.

Good luck

[train-time]

Originally Posted by daveswordfish

Been a while since I shipped an expensive piece, but be very careful. Carriers will sell you insurance, but if you read the fine print it will state that watches are not insure-able . For example, USPS will not pay out insurance on a watch unless it sent registered mail, but will sell you insurance if you send it priority. They just don’t know the ins and outs. Fedex has, I believe, a max they’ll pay out on a watch but will sell you as much insurance as you want. Again, the agents aren’t fully up to speed on the regs and the website doesn’t check the insurance amount against the item type. Just be careful.


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Absolutely correct. Shippers often have limits of liability by item category. You may be able to buy, say $5K or $10 in coverage on their site but the item, a watch or jeweler may have significantly lower limits in the fine print. We had a case a while back where a TRF member purchased $5K at the Fedex Store and the watch went missing. I do not recall if they asked what was in the box or not. Fedex was willing to pay their jewelry limit, either $500 or $1,000 as I recall but not the full amount that he purchased. I remember it was quite an ordeal and I believe he got an attorney involved and I think they eventually settled but what a pain to go through so be really careful.

[djborden1957]

Thank all for the great suggestions.

[favre12rodgers]

Originally Posted by train-time

You would have to check with your insurance carrier. I know many, including Jewelers Mutual changed coverage to no longer include a piece that is being shipped because you sold it. They call it "voluntary parting" and it not covered for loss. They will not cover the watch being sold if you incur a loss due to fraudulent payment methods as well.

I have JM and they told me this very thing when I called them regarding getting ready to sell my Navitimer. They said it was technically a voluntary parting but that “they sometimes take other things into account to come to a fair resolution” or something like that….basically implying that if the watch were lost in shipment they still might cover it. I pressed the agent on this…..basically saying it either has to be covered or not covered and how it’s possible for them to decide after the fact. Who is going to ship a watch on the assurance that “maybe” we will decide to cover it’s loss as a goodwill gesture. Needless to say, I sent it USPS registered.