Author Topic: When selling own watch, which payment method you prefer?  (Read 4217 times)

Offline yehlai

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Hi guys, when you selling your own watch. Which payment method you prefer?
Online transfer easiest, but banks will have daily transfer limit capped?
Bank drafts are reliable (but can people can fabricate documents?)
Cheque (but concern in bounce cheque issue)

Any other method you prefer other than cash/credit cards?
 
« Last Edit: May 25, 2018, 08:31:21 AM by yehlai »

Offline KYtime

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Re: When selling own watch, which payment method you prefer?
« Reply #1 on: May 25, 2018, 08:38:02 AM »
COD is best. This way nobody can dispute about watch condition or payment, etc.

Offline sky7704

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Re: When selling own watch, which payment method you prefer?
« Reply #2 on: May 25, 2018, 08:49:19 AM »
Hi guys, when you selling your own watch. Which payment method you prefer?
Online transfer easiest, but banks will have daily transfer limit capped?
Bank drafts are reliable (but can people can fabricate documents?)
Cheque (but concern in bounce cheque issue)

Any other method you prefer other than cash/credit cards?
I only do in instant transfer or cash deal.

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Offline summerdragon

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Re: When selling own watch, which payment method you prefer?
« Reply #3 on: May 25, 2018, 10:25:56 AM »
Of course cash is the best, but if your watches worth well over five figure then better instant transfer for safety purpose. Instant transfer allow up to 2xk if im not wrong, choose a place that u know its safe and crowded, beware of robbing, coz it happened on some of my watch dealer friends.

Offline spacewalker

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Re: When selling own watch, which payment method you prefer?
« Reply #4 on: May 25, 2018, 11:23:03 AM »
I prefer cash or instant transfer. Do you guys issue the personal receipt to the buyer? Since the watches have the serial number , and SC will registered them under the owner names at SC when we send for repair or service so I think issuing  the recepit is important since the watch had already changed the owner and as a proof I'm not the owner of that watch anymore.

Offline yehlai

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Re: When selling own watch, which payment method you prefer?
« Reply #5 on: May 25, 2018, 12:59:19 PM »
Seems like many prefer cash.. I'm supirised.
Problem with cash is don't feel secure when you carry them on the street. Any seller encountered counterfeit cases before?

So the best way to deal is still online transfer. If amount is not small.. suggest to do like this as banks have set the daily transfer limit.

Bank A = transfer 25k
Bank B = transfer 25k
Bank C = transfer 25k

Offline KYtime

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Re: When selling own watch, which payment method you prefer?
« Reply #6 on: May 25, 2018, 01:44:52 PM »
It's all relative ... to some, 10k is a lot to carry around .. and to others, 100k is norm.

But if you're the seller, bank transfer is advantageous to you since you only release your watch (cod or mail etc) after you're satisfied the $$ is in.

Offline craftedseries

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Re: When selling own watch, which payment method you prefer?
« Reply #7 on: May 26, 2018, 11:51:30 PM »
I'd always prefer cash but then again it depends on how bulky the cash is. If it's way too bulky, I'd prefer transferring through the bank!

Offline firewire

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Re: When selling own watch, which payment method you prefer?
« Reply #8 on: May 27, 2018, 04:31:08 PM »
I've bought and sold few watches via online meet.

I always asked for cash or instant bank transfer.

So far all the buyers knows and they paid me via IBG (below 30k)

Beware those who says they have an overseas account, or they will pass the phone to their banker etc...

Most likely a scam.

Offline Timeless

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Re: When selling own watch, which payment method you prefer?
« Reply #9 on: May 28, 2018, 09:06:53 AM »
Would prefer to do it online instant transfer, might need few transactions in various banks for huge amount.
For cash deal, recommend to do it inside of the bank on the spot if everything is in order. Otherwise, it doesn't safe to count big amount of cash in public anyway.

Offline Watched

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Re: When selling own watch, which payment method you prefer?
« Reply #10 on: May 28, 2018, 04:02:48 PM »
Below 10k COD

Above 10k only instant transfer

Offline firewire

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Re: When selling own watch, which payment method you prefer?
« Reply #11 on: May 28, 2018, 05:10:27 PM »
Would prefer to do it online instant transfer, might need few transactions in various banks for huge amount.
For cash deal, recommend to do it inside of the bank on the spot if everything is in order. Otherwise, it doesn't safe to count big amount of cash in public anyway.

I sold a watch for 25k and the buyer paid me cash. After inspecting the watch and all is good we went into my car and I counted the money with the doors locked ofcourse.

Offline DavidTan

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Re: When selling own watch, which payment method you prefer?
« Reply #12 on: June 05, 2018, 05:56:16 PM »
I still prefer cod. Is fair to both.

Offline mattwee89

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Re: When selling own watch, which payment method you prefer?
« Reply #13 on: June 16, 2018, 08:42:11 PM »
If cod with cash won't worry about fake notes?

Offline DavidTan

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Re: When selling own watch, which payment method you prefer?
« Reply #14 on: June 16, 2018, 08:44:18 PM »
Lol. Online transfer then.

Offline mattwee89

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Re: When selling own watch, which payment method you prefer?
« Reply #15 on: June 16, 2018, 08:51:21 PM »
Haha ya i prefer online transfer with instant transfer mode la 100% safe i guess

Offline DavidTan

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Re: When selling own watch, which payment method you prefer?
« Reply #16 on: June 16, 2018, 08:52:57 PM »
 :thumbsup: :thumbsup: :thumbsup:

Offline kennethkoo

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Re: When selling own watch, which payment method you prefer?
« Reply #17 on: December 10, 2018, 04:11:53 PM »
I prefer COD and perform an instant transfer on the spot.
Do not forget to verify the name of the person who made the transfer. A friend got into trouble as the buyer scammed someone else to perform the transfer to the seller (my friend)

Offline mikecheong1798

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Re: When selling own watch, which payment method you prefer?
« Reply #18 on: January 12, 2019, 11:47:28 AM »
COD is the best

Offline Horologist

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Re: When selling own watch, which payment method you prefer?
« Reply #19 on: January 15, 2019, 06:20:12 AM »
online instant transfer is convenience and safe.

Offline G.MAC

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Re: When selling own watch, which payment method you prefer?
« Reply #20 on: January 15, 2019, 07:03:31 AM »
Instant transfer
Your ONLY job in this world is to make sure that you are happy

Offline silic

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Re: When selling own watch, which payment method you prefer?
« Reply #21 on: January 16, 2019, 12:30:59 AM »
Online transfer is easiest.

Offline premiergin88

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Re: When selling own watch, which payment method you prefer?
« Reply #22 on: February 06, 2019, 08:26:16 AM »
Definitely online transfer

Offline derick93

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Re: When selling own watch, which payment method you prefer?
« Reply #23 on: February 07, 2019, 04:06:09 PM »
Hi guys, when you selling your own watch. Which payment method you prefer?
Online transfer easiest, but banks will have daily transfer limit capped?
Bank drafts are reliable (but can people can fabricate documents?)
Cheque (but concern in bounce cheque issue)

Any other method you prefer other than cash/credit cards?

I will suggest you just do the COD at the bank :thumbsup: :thumbsup:

Offline AnotherWatch

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Re: When selling own watch, which payment method you prefer?
« Reply #24 on: February 07, 2019, 08:29:05 PM »
Usually COD and find somewhere close to your bank to instantly bank in before completing the transaction. That way both parties are sort of "safe"