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Valorguy · 27 January 2018, 01:49 AM

Hey guys,

This is my first Rolex sale on the forums and my first wire transfer into my bank account. I agreed on a price with Issackatz (Forum Member) and he is wiring me the money as we speak (It shows as a pending deposit now). He wants it shipped out by the end of the day (before the funds clear).

What would you do? My first thoughts and after speaking to my bank are, do not do anything until it's not "Pending" status.... But I want opinions and info from business people or other who have done this before.

Thanks for the info !

Bart

function12 · 27 January 2018, 02:34 AM

If they agreed to a wire transfer as payment. Then I would wait till the funds hit your account.

MonBK · 27 January 2018, 02:35 AM

Wait of course.

derekhayden · 27 January 2018, 02:36 AM

Quote:

Originally Posted by Valorguy

after speaking to my bank are, do not do anything until it's not "Pending" status....

Banks do these types of transactions more than anyone else. Take their advice and don't ship until it has cleared. Plenty of scams are completed this way while wires are pending. Not saying it's the case this time but better safe then sorry.

Lime · 27 January 2018, 03:27 AM

Wait until its in incase its a scam

eelpie · 27 January 2018, 04:22 AM

. . . another country, or on another continent, delaying shipment a few hours will make very little difference.

I've dispatched watches all over the world and I've never had a buyer who wanted or expected shipment before the monetary instrument had cleared.

That this transaction is taking place on a Friday, as banking hours are being wound-down for the weekend, is not an overly good sign.

novae500 · 27 January 2018, 04:25 AM

i'd wait for the wire to clear. I hate PP when its pending and i dont send out until its available in my bank acct

jvmartin · 27 January 2018, 04:32 AM

He is a fairly well known dealer... never done a transaction with him but heard the name now and again... it takes a day for it to go from pending to cleared so don't expect it to clear any sooner... he probably needs the watch for a sold order... either way, do what you feel is safest for yourself...

William.L. · 27 January 2018, 05:26 AM

Hold the watch until the funds clear. I don't care how much of a hurry anyone is in, or how hot their customer is. Your merchandise doesn't leave your hands until You've been paid, in full and the funds are in your account. You control the sale, not the buyer. You set payment terms, and delivery release requirements.

I've walked away from many deals on here because the buyer and I didn't come to terms on payment and shipping. I'm fine with it because I've never been burned, and god willing won't be. You are new to the game, and there are a ton of scams, and ways you can get burnt. Do business with him once get paid and establish a relationship, and then moving forward, do what you need to in order to do business together.

Lordofrolex · 27 January 2018, 05:41 AM

I wouldn't send the watch till it clears.

Knappo 1307 · 27 January 2018, 05:46 AM

As said before, wait. If this person is a high volume seller, he of all people should understand.

mjclark32 · 27 January 2018, 05:54 AM

I sold two watches over the past couple months.
One was someone I could track easily if things went south, owns a pretty big company that sells rubber straps for sport models and I’m a customer of.
Even then, I waited till funds cleared.

Call your bank and see if they cleared? My banks online system only recalibrated at the end of each day, which could make it a pain to buyers. Last FedEx, for me, was 630 though so still able to send.

elcompa · 27 January 2018, 06:25 AM

Send after it clears...as a standard. I have done transfers that register as "Pending" online. Usually works its way through the system/cyberspace in a day and then shows as deposited. Nothin lost by waiting overnight, is there?

Valorguy · 27 January 2018, 06:43 AM

Thanks for all the input. I will wait until it clears. Better safe than sorry for sure. Cheers guys !

Al1969 · 27 January 2018, 12:54 PM

Quote:

Originally Posted by Valorguy

Thanks for all the input. I will wait until it clears. Better safe than sorry for sure. Cheers guys !

You received great advice here. You made the right choice. Good luck with the sale.

function12 · 31 January 2018, 12:50 AM

Did the funds clear??

southtexas · 31 January 2018, 04:47 AM

Quote:

Originally Posted by jvmartin

He is a fairly well known dealer... never done a transaction with him but heard the name now and again... it takes a day for it to go from pending to cleared so don't expect it to clear any sooner... he probably needs the watch for a sold order... either way, do what you feel is safest for yourself...

Then he should know the routine!

Sent from my iPhone using Tapatalk

imperio · 31 January 2018, 05:04 AM

Only ship after funds are in your account and available! I wouldn't even ship if it's "pending" status.

Canook · 31 January 2018, 03:45 PM

no money no honey! simple as that.... i wouldnt part with anything until you have the funds
there are too many scammers using hacked accounts and pretending to be legit

yxc145 · 1 February 2018, 02:20 AM

You can create a shipping label, provide the tracking, but just dont drop it off the UPS or FEDEX yet.

jvmartin · 1 February 2018, 02:54 AM

This is from 5 days ago... how did this turn out?

henrylee · 1 February 2018, 03:30 AM

Yea interested on what happen.

Lime · 2 February 2018, 01:24 PM

The seller has vanished?

jvmartin · 2 February 2018, 02:28 PM

I think the OP just hasnt followed up here...

Valorguy · 24 May 2018, 02:33 PM

Hey guys,

Follow up on what happened.....

I waited until the wire cleared.... Good advice. I will always wait, even though the buyer was a great guy to deal with and things went very smooth, this time.

Abdullah71601 · 24 May 2018, 07:08 PM

Quote:

Originally Posted by Valorguy

Hey guys,

Follow up on what happened.....

I waited until the wire cleared.... Good advice. I will always wait, even though the buyer was a great guy to deal with and things went very smooth, this time.

77T · 24 May 2018, 10:32 PM

Since this got resolved and came up to top of list - there is only one case where I think it is acceptable to ship ahead of funds.

When I was an unknown seller here but wanted to sell a Daytona, I proactively reached out to Tony G (justrolexes) due to his stellar reputation. He saw pictures I sent and we agreed upon a price. He then asked me to ship to him for verification - with promise of wire payment if all was well. He even sent a shipping label including insurance via email.

Of course it all went well - and that’s the only way I’d ship ahead of funds clearing.

Just sharing in spirit of communication if a trusted seller asks for similar arrangement.

Sent from my iPhone using Tapatalk Pro

beshannon · 24 May 2018, 10:57 PM

Quote:

Originally Posted by Valorguy

Sold a watch - Buyer wants it shipped before Wire isn't PENDIONG.

Not a chance of that happening, ever

MinMay · 25 May 2018, 12:44 AM

Tell the buyer...are you serious? :)

J_1964 · 25 May 2018, 10:29 AM

NOT Until You Get Your Money!

27 January 2018, 01:49 AM	#1
Valorguy 2024 SubLV41 Pledge Member Join Date: Oct 2017 Real Name: Bart Location: Atlanta Watch: Submariner / Blue Posts: 100	Sold a watch - Buyer wants it shipped before Wire isn't PENDIONG. Hey guys, This is my first Rolex sale on the forums and my first wire transfer into my bank account. I agreed on a price with Issackatz (Forum Member) and he is wiring me the money as we speak (It shows as a pending deposit now). He wants it shipped out by the end of the day (before the funds clear). What would you do? My first thoughts and after speaking to my bank are, do not do anything until it's not "Pending" status.... But I want opinions and info from business people or other who have done this before. Thanks for the info ! Bart

27 January 2018, 04:22 AM	#6
eelpie "TRF" Member Join Date: Feb 2007 Location: USA Watch: 15223, 6305/2 Posts: 583	If the buyer lives in . . . . . . another country, or on another continent, delaying shipment a few hours will make very little difference. I've dispatched watches all over the world and I've never had a buyer who wanted or expected shipment before the monetary instrument had cleared. That this transaction is taking place on a Friday, as banking hours are being wound-down for the weekend, is not an overly good sign.

27 January 2018, 04:25 AM	#7
novae500 "TRF" Member Join Date: Jun 2009 Location: VA Posts: 965	i'd wait for the wire to clear. I hate PP when its pending and i dont send out until its available in my bank acct __________________ 326933 SkyDweller, 126711 GMT II CHNR 12600 DeepSea Seadweller 14060 No Date Submariner 16710 GMT II Pepsi N-Series, Coke F Series

27 January 2018, 05:26 AM	#9
William.L. "TRF" Member Join Date: Mar 2013 Real Name: William Location: Belleville Mi Watch: 1675 & 16013 Posts: 619	Hold the watch until the funds clear. I don't care how much of a hurry anyone is in, or how hot their customer is. Your merchandise doesn't leave your hands until You've been paid, in full and the funds are in your account. You control the sale, not the buyer. You set payment terms, and delivery release requirements. I've walked away from many deals on here because the buyer and I didn't come to terms on payment and shipping. I'm fine with it because I've never been burned, and god willing won't be. You are new to the game, and there are a ton of scams, and ways you can get burnt. Do business with him once get paid and establish a relationship, and then moving forward, do what you need to in order to do business together. __________________ Omega Bumper Automatic Rolex Datejust 16013 TT Rolex GMT 1675/3 Tudor GMT Serti GMT

27 January 2018, 05:41 AM	#10
Lordofrolex "TRF" Member Join Date: Sep 2015 Real Name: Brandon Location: Los Angeles, CA Watch: Yes Please! Posts: 6,691	I wouldn't send the watch till it clears. __________________ Rolex GMT Master II 116710LN Panerai PAM 359 Audemars Piguet RO 15300OR Follow me on Instagram: @b_jakobovich

27 January 2018, 02:34 AM	#2
function12 "TRF" Member Join Date: Jun 2012 Location: Houston, TX Posts: 518	If they agreed to a wire transfer as payment. Then I would wait till the funds hit your account.

27 January 2018, 02:35 AM	#3
MonBK Banned Join Date: Nov 2010 Location: Kingstown Posts: 58,279	Wait of course.

27 January 2018, 03:27 AM	#5
Lime "TRF" Member Join Date: Oct 2013 Location: Canada Watch: Rolex, JLC, etc Posts: 354	Wait until its in incase its a scam

27 January 2018, 04:32 AM	#8
jvmartin "TRF" Member Join Date: Feb 2014 Location: Los Angeles Posts: 2,349	He is a fairly well known dealer... never done a transaction with him but heard the name now and again... it takes a day for it to go from pending to cleared so don't expect it to clear any sooner... he probably needs the watch for a sold order... either way, do what you feel is safest for yourself...

27 January 2018, 05:46 AM	#11
Knappo 1307 2024 SubLV41 Pledge Member Join Date: Sep 2011 Real Name: Jason Location: USA Watch: Sea Dweller Posts: 8,561	As said before, wait. If this person is a high volume seller, he of all people should understand.

27 January 2018, 05:54 AM	#12
mjclark32 "TRF" Member Join Date: Mar 2010 Real Name: MJC Location: PHL USA Watch: IWC, Rolex, AP Posts: 29,232	I sold two watches over the past couple months. One was someone I could track easily if things went south, owns a pretty big company that sells rubber straps for sport models and I’m a customer of. Even then, I waited till funds cleared. Call your bank and see if they cleared? My banks online system only recalibrated at the end of each day, which could make it a pain to buyers. Last FedEx, for me, was 630 though so still able to send. __________________

27 January 2018, 06:25 AM	#13
elcompa "TRF" Member Join Date: Oct 2013 Location: North Carolina Watch: DD 118206 Posts: 1,858	Send after it clears...as a standard. I have done transfers that register as "Pending" online. Usually works its way through the system/cyberspace in a day and then shows as deposited. Nothin lost by waiting overnight, is there?

27 January 2018, 06:43 AM	#14
Valorguy 2024 SubLV41 Pledge Member Join Date: Oct 2017 Real Name: Bart Location: Atlanta Watch: Submariner / Blue Posts: 100	Thanks for all the input. I will wait until it clears. Better safe than sorry for sure. Cheers guys !

31 January 2018, 12:50 AM	#16
function12 "TRF" Member Join Date: Jun 2012 Location: Houston, TX Posts: 518	Did the funds clear??

31 January 2018, 05:04 AM	#18
imperio "TRF" Member Join Date: Sep 2011 Location: San Francisco, CA Watch: this space Posts: 1,867	Only ship after funds are in your account and available! I wouldn't even ship if it's "pending" status. __________________

31 January 2018, 03:45 PM	#19
Canook "TRF" Member Join Date: Apr 2016 Real Name: Jason Location: Aussie/Malaysia Watch: too many to list Posts: 1,470	no money no honey! simple as that.... i wouldnt part with anything until you have the funds there are too many scammers using hacked accounts and pretending to be legit __________________ Current lineup -116610LV Sub -16233 Tapestry Datejust -16610LV KERMIT -116600 SD4000....16612 Yachtmaster- 16710 PEPSI -216570(polar)- -Yachtmaster II 116688 126300 Datejust 41 jubilee * Card carrying member of TRF's Global Association of Retro-Grouch-Curmudgeons *

1 February 2018, 02:20 AM	#20
yxc145 "TRF" Member Join Date: Jul 2017 Real Name: David Location: Chicago Watch: SkyD,JC, BLNR, Ex2 Posts: 1,578	You can create a shipping label, provide the tracking, but just dont drop it off the UPS or FEDEX yet.

1 February 2018, 02:54 AM	#21
jvmartin "TRF" Member Join Date: Feb 2014 Location: Los Angeles Posts: 2,349	This is from 5 days ago... how did this turn out?

1 February 2018, 03:30 AM	#22
henrylee "TRF" Member Join Date: Jan 2011 Location: Socal/LA Watch: 116610LN Ceramic Posts: 3,223	Yea interested on what happen. __________________ ♛ Sub 116610LN 2011 ♛ GMT 126710BLNR 2021 ♛ GMT 126711CHNR 2020 ♛ Datejust 16233 X-series 1993 Ω Speedmaster Mitsukoshi 2019 č Cartier Tank w5200025 2021

2 February 2018, 01:24 PM	#23
Lime "TRF" Member Join Date: Oct 2013 Location: Canada Watch: Rolex, JLC, etc Posts: 354	The seller has vanished?

2 February 2018, 02:28 PM	#24
jvmartin "TRF" Member Join Date: Feb 2014 Location: Los Angeles Posts: 2,349	I think the OP just hasnt followed up here...

24 May 2018, 02:33 PM	#25
Valorguy 2024 SubLV41 Pledge Member Join Date: Oct 2017 Real Name: Bart Location: Atlanta Watch: Submariner / Blue Posts: 100	Hey guys, Follow up on what happened..... I waited until the wire cleared.... Good advice. I will always wait, even though the buyer was a great guy to deal with and things went very smooth, this time.

24 May 2018, 10:32 PM	#27
77T 2024 SubLV41 Pledge Member Join Date: Dec 2010 Real Name: PaulG Location: Georgia Posts: 42,016	Since this got resolved and came up to top of list - there is only one case where I think it is acceptable to ship ahead of funds. When I was an unknown seller here but wanted to sell a Daytona, I proactively reached out to Tony G (justrolexes) due to his stellar reputation. He saw pictures I sent and we agreed upon a price. He then asked me to ship to him for verification - with promise of wire payment if all was well. He even sent a shipping label including insurance via email. Of course it all went well - and that’s the only way I’d ship ahead of funds clearing. Just sharing in spirit of communication if a trusted seller asks for similar arrangement. Sent from my iPhone using Tapatalk Pro __________________ Does anyone really know what time it is?

25 May 2018, 12:44 AM	#29
MinMay Banned Join Date: Apr 2015 Location: United States Posts: 2,410	Tell the buyer...are you serious? :)

25 May 2018, 10:29 AM	#30
J_1964 "TRF" Member Join Date: Apr 2017 Real Name: Jim Location: NoCal USA Watch: 16710 Posts: 1,955	Not A Chance..... NOT Until You Get Your Money!

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