Sellers: Why would you be asked to hold a watch for a few days?

[joeh]

I am selling a watch and was asked here if I could hold it for somebody for a few more days because they are interested but need a few more days to get their money.

What do you make of that?

Thanks

[imono]

Holding it for few days is better than not having it sold.
You also have to understand the buyer - he is probably in the same shoes as you waiting for payment...

[pacifichrono]

Ask him for a non-refundable good faith deposit of maybe 10%. That's the typical way this kind of transaction is handled.

[Gaijin]

Or if he/she is a trusted member here then in my opinion you just cut them some slack and be patient.

[joeh]

I just figured that anyone who is a buyer, like myself have been, would surely know that it's first come first served unless there is some kind of deposit. Should be obvious. Imagine holding a watch without deposit in good faith, and then they change their mind.

Thanks

[scootmchoot77]

I could see needing to ask a seller to hold a watch for several days in order to allow proceeds to clear the buyer's bank. For example, on some large car purchases, I have asked a seller to hold the car (with a deposit) while I closed my positions on some stocks. It normally takes several days for the funds from the sale to make it into my bank. I don't try and make a practice out of this but I have run across some deals that I did not have the cash on hand but did not want to miss out on.

[Lmbeauleap]

Same for me. It took me a few days for the stock sale funds to hit my bank account for my purchase. On the other hand I just waited to make any offers. I had my eye on one and it didn't sell so I got it. I figured there would always be another one. If it were me I would definitely make a deposit if I was that worried about it being sold.

[2th Dr]

I've had sellers do it for me. If I'm selling, and someone askes me to hold it for a few days and I know who they are, I would do it, but in the mean time, if another inquired, I would tell them it's theirs, should the first buyer back out.

[dddrees]

Originally Posted by 2th dr

i've had sellers do it for me. If i'm selling, and someone askes me to hold it for a few days and i know who they are, i would do it, but in the mean time, if another inquired, i would tell them it's theirs, should the first buyer back out.

x2

[redwolfoz]

As an example, if you're doing an electronic transfer, the buyer may need to manually increase the limit they can send. Not all banks are quick to flip the switch on this.

Another example is multiple accounts. If you have a standard account and a high interest online account in different banks. High interest online accounts generally have no features; you can transfer money in or out from a single linked bank account elsewhere and you can start and end term deposits. That's it. Transfers back to a standard account are usually next day, but if you time it wrong they can sometimes take three days.