Face to Face - Safe transactions.

[SpunkyQ8]

Originally Posted by Old Expat Beast

With all these worries, you really should just buy from an authorised dealer.

x2

[Xelorpepsi]

What is the norm with a face-to-face transaction? As a seller, shall I receive the funds first and meet the buyer straight after? If not, how can the watch be transferred into the buyer's possession at the same time as the funds are transferred to me?

Thanks in advance!

[bayerische]

Originally Posted by Old Expat Beast

With all these worries, you really should just buy from an authorised dealer.

This.

OP, no offence, but you are not ready.

[Xelorpepsi]

Originally Posted by Xelorpepsi

What is the norm with a face-to-face transaction? As a seller, shall I receive the funds first and meet the buyer straight after? If not, how can the watch be transferred into the buyer's possession at the same time as the funds are transferred to me?

Thanks in advance!

@bayerische: Rather than creating a new thread, I used an existing one... And my question still stands

[Brenngun]

Originally Posted by Xelorpepsi

What is the norm with a face-to-face transaction? As a seller, shall I receive the funds first and meet the buyer straight after? If not, how can the watch be transferred into the buyer's possession at the same time as the funds are transferred to me?

Thanks in advance!

I've sold watches face to face a couple of times. The way I do it is to meet the buyer at a branch of my bank. I have them hand the funds to the teller who will then count it and deposit it into my account. I do it this way to avoid any issue with counterfeit currency. After the deposit is completed and I have a the bank slip in my hand I will then give the buyer the watch. If the buyer wants to inspect the watch first then we do it at the service desk in the middle of the bank then go to the teller.

[Xelorpepsi]

Very helpful! Thanks a lot!

[ArtNouveau]

I have done several face to face transactions as the seller with the highest value being around $10K. The first time was kind of weird as I was asked to come to the buyer’s home! I had a friend come with me and wait outside but felt better when we pulled up to the $2M+ Mid-Century Modern that looked like a museum inside. The buyer was/is a well known collector who is on many watch forums, everything turned out great. My second deal with him was in a McDonalds parking lot! We knew each other then so no worries.
A year ago I met a buyer at a busy Starbucks for a $1500 sale. I was a little concerned but after speaking to him on the phone a couple of times felt okay and it worked out fine, he paid cash.
Most recently I sold a Rolex to one of the trusted sellers here who happens to live at least part time in my city. He was actually out of town but had me go to his agent here, a small watch repair shop. After he inspected the watch, he called the TS who immediately PayPal’ed the money to me. Trust is a big part of peer to peer sales,like others say if you’re not comfortable stick with the dealer route.

[returntorolex]

Originally Posted by jw0n

To the OP:

- Where should we meet in person?
- How can the buyer know with absolute certainty that the Rolex is genuine, has no replaced (non-original) parts?
- How can the buyer know, and seller prove that the item is under a valid factory warranty, not stolen?
- How can money exchange hands securely at the same time that the watch is exchanged while knowing that the physical item is authentic?

1) You can meet at your local RSC. This can be safe grounds for both buyer and seller.

2) At least in this part of the world, RSC provides authentication services: this at least tells you if the watch is still warrantied, and not stolen. If you want to know if all parts are authentic, I suppose this can be done although probably not within the hour. Btw, RSC verification services costs something like $100 here.

3) If all is good, just deliver and collect the cash at the RSC lobby :-)

This is IMO the absolute best, most concrete method to ensure 100% for both buyer AND seller. For a 5-figure transaction, I would gladly hop on a plane to NY or Dallas to buy or sell using this method.

Although, I would not do cash in the lobby but complete the transaction at the buyer’s or seller’s financial institution.