Opinion on deal

[Mavrick]

Hi guys

I'm only a private collector, occasionally I sell and I have just received a deal on a Pam 395 I had listed. $23kUSD

Thoughts on the deal would be appreciated.

I receive a reply to my listing and go through all the usual questions then we get down to how to pay and I advise wire etc, he says he only does cash and carry. Advises he is based in Jakarta but travels to Singapore on business regularly.

We make a deal that I will travel to Singapore (I'm in Australia but will be in Bangkok at this time so not a terrible burden) and he will pay cash after inspecting the watch and confirming what he has been advised.

He has requested many pictures, asked about warranty documents etc and wasn't a straight forward deal as most scams seem to be but all the same I wonder what can go wrong?

We are meeting inside the airport so should be secure, I though about counterfeit currency as a possibility?

The reason for the insecurity other than the nature of the deal itself is that the forum member "m5interlagos" only Joined this month and has never posted.

He has spoken about his family etc etc and I hate to be stirring disparaging suspicions should he be legit but wanted your guys thoughts on the deal structure and anything I could do to protect myself?

A little nervous and appreciate any feedback.

Thank you

[Presa canary]

Take his 23k to the foreign currency exchange in the airport. Then you'll know if it's counterfeit. Good luck, cash is king, but I'd be wary as well. Does he have any references?

[Mavrick]

He just came back to me offering to Skype, gave me his company information, his cell number etc and provided sincere takashimaya, Singapore as a reference. He sounds to have an awesome watch collection which he said he can show me on Skype. And I have just found him on LinkedIn so possibly all is ok, thanks Justin for your comments, Mark

[nch209]

Too hard to tell with the info you provided. Perhaps you should/could discuss your concerns with him? I don't want to state the obvious, but in any deals (especially high dollar ones like this), BOTH sides need to feel comfortable. If he is a serious buyer, I'm sure he will understand your concerns and will provide info to prove he is legit. It not, walk away.

The point of him not posting in the forum isn't that big of a deal to me, as many find TRF via search engines that purse various sites classifieds.

Again, take your time and make sure you are as comfortable as he.

Good luck
Nate

[Mavrick]

Thank you kindly Nate, he did understand as per previous reply, again thank you for your assistance and comments, kind regards Mark

[southtexas]

So is his name the one posted? If I was buying, I'd hope the seller wouldn't provide my full name and email address on a public forum.

as to the deal, as another stated, if he's a serious, experienced buyer he should understand your concerns and make you comfortable.

And yes I'd be worried about counterfeit money. I can't think of too many reasons why one wouldn't do a wire transfer (said reasons don't reflect well on the buyer).

Lastly can you travel with that type of cash without running into problems with your authorities?

[Presa canary]

Call his company. I've done this before on a deal... Not sure what skyping will help with? Linkedin is good. If he has the balls to meet you in a airport with a bag of cash, you're prob alright. Now, if when you get there he tells you he'll meet you in a car afterword you get your bags, that's another thing

[waQstar]

Hello, it's a significant amount, I would ask him to send you a copy of his government I'd and passport showing his name and photo.

When you meet him, ask to hold his passport in your hand while he inspects the watch, if all goes well from there, to clear all doubts about the currency, have him pay you in Australian dollars, something you can check yourself.

We have a member here, who was meeting someone in a bank, mind you inside a bank with security guards and cameras, the other guy just ran with the watch outside the bank while he was inspecting it, our friend here still has not recovered the watch.

Please be extra careful.

[Mavrick]

Hi South Texas, you may have seen the previous reply re his willingness to provide more information, I take note of the name and have removed it as per your opinion, silly error. Thanks for your advice, Mark

[bayerische]

Are you meeting before or after security i.e. landside or airside?

If landside, I would say most airports have very little security, and a "smash and grab" is easy. Once at airside, there's really no place to run, and a lot of security.

I know this is Singapore, and it's a very secure place, but doing a 23K deal cash with a complete stranger, with no forum references I'd be careful.

I'm not saying anything is wrong with this transaction, just be careful. Also remember that most countries have a 10.000 USD currency limit, and if above it needs to be pre-informed that you are carrying this amount of money.

I don't think anyone would try and pull a fast one in the airport, but is there a secluded place where you two would even get to sit down? Landside of most airports are like a crazy train with not a square meter of privacy. A lanside/airside airline lounge would be my pick. Nice and quiet.

Also make sure you don't jump into anyones car, to do any last minute changes to your plans. The buyer shouldn't under any circumstances change your agreed meeting plans doing a high-dollar deal as this.

Good luck, all is probably fine, but still, be careful.

[Mavrick]

Thank you kindly Andreas for the advice...meeting inside the airport, we both arrive almost simultaneously. Lounge for sure. Thanks again

[southtexas]

Originally Posted by Mavrick

Thank you kindly Andreas for the advice...meeting inside the airport, we both arrive almost simultaneously. Lounge for sure. Thanks again

Good luck and let us know how it goes...

[themast]

Regarding the skype conversation and all the company stuff, keep in mind that he may be impersonating somebody else.

As already advised, you can try to call his company and ask for him.

[bayerische]

Originally Posted by Mavrick

Thank you kindly Andreas for the advice...meeting inside the airport, we both arrive almost simultaneously. Lounge for sure. Thanks again

No problem mate, just make sure you get genuine cash too.

[bmpwatch]

I would be hesitant on a deal like this, be careful. Remember, there are a lot of people out there who are not trustworthy. I would prefer a wire in this case, and it alarms me that the buyer would not carry out this type of transaction.

[kooltzar]

Face to face is safer than wire, especially for the buyer. If a seller that I don't know offers wire only, I would always pass.

[Mavrick]

Thanks all, transaction scheduled for Feb 1, will advise afterwards...umm how do I make sure I get genuine cash? The buyer did say we could go to the money changer?

[Mavrick]

Oh and I have spoken with him on the phone now as well. For what that's worth :-)

[bayerische]

Are you being paid in your currency? (Australian Dollars)

I guess if so, you're familiar with the cash enough to determine it's genuine?

Else, have a money exchange determine it's genuine cash, perhaps before you guys sit down in the lounge? I don't know if this is a service a money exchange will perform though....? Perhaps against a small fee?

[Lgear080]

I'd advise against a deal like this.

Unless you've done this before - ie large cash transaction
In person. There are way too many moving parts. It sounds
Like you'd go it alone... Will he? Handling a huge amount of
Currency you've never seen before? You'll have to plan how
To handle him... Step by step. From contact to cash to watch
Handover. I'd want a partner watching me.

I'd stick to intl wires if I were you.

Just feels bad to me personally, however this is opinion.
There are more sophisticated thieves than sellers.

Good luck, be safe.

[Mavrick]

Hello all,

An update that I completed the transaction successfully and the buyer was an utter gentleman and followed through 100% on everything as communicated.

Can highly recommend m5interlagos as a genuine buyer and person, thanks very much for all who commented and assisted.

[bayerische]

Congrats!

Anyone who has "M5interlagos" as a username must be a good guy!

(Type and color of my car)

[Mavrick]

Cheers Andreas!

[southtexas]

Great to hear!


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[Mavrick]

Thanks South Texas...appreciated!

[WatchTWC]

Nice to hear things finally turned out well