Author Topic: Best method to pay Grey Dealer  (Read 4093 times)

Offline Conscript

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Best method to pay Grey Dealer
« on: September 10, 2020, 01:48:12 PM »
Hey guys , need some opinion how u guys usually make payment to Grey Dealer , some Grey Dealers accept Credit card ofcuz with some % extra charges , example 100k Daytona ceramic , do u guys prefer to leave a trace of payment incase the watch is not genuine or faulty at least we have proof of transaction .  Cheers

Offline avabobatea

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Re: Best method to pay Grey Dealer
« Reply #1 on: September 10, 2020, 03:23:39 PM »
Even if watch is faulty or fake, can u hold them liable? They can say watch sold to u is ok but U swap it? At the end, credibility of the seller is important.
Cash or bank transaction not much different lah unless u fear LHDN trace u back for purchasing a 100k watch with cash

My 2 cents


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Offline RA_2366

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Re: Best method to pay Grey Dealer
« Reply #2 on: September 10, 2020, 07:23:21 PM »
Credible seller like Horology House?

Offline apache0909

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Re: Best method to pay Grey Dealer
« Reply #3 on: September 10, 2020, 09:10:10 PM »
IMO, I would say by card or bank transfer. Too high of a risk to carry cash around. But then, the most important factor will still be how reliable or trustable the dealer is.

Offline c4all

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Re: Best method to pay Grey Dealer
« Reply #4 on: September 11, 2020, 04:48:33 AM »
My experiences with grey dealers was that if i paid cash, I could get a better price than if i paid with a credit card. However, i understand your point on safety reasons particularly where the sum is huge. I would think a combination of cash and bank transfer would be the best.

Offline dpkong

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Re: Best method to pay Grey Dealer
« Reply #5 on: September 11, 2020, 08:37:57 AM »
Even if watch is faulty or fake, can u hold them liable? They can say watch sold to u is ok but U swap it? At the end, credibility of the seller is important.
Cash or bank transaction not much different lah unless u fear LHDN trace u back for purchasing a 100k watch with cash

My 2 cents


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Do grey dealers report their cash transactions?

As mentioned, with cash price is usually more negotiable and definitely no extra transaction charge.


Offline Conscript

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Re: Best method to pay Grey Dealer
« Reply #6 on: September 11, 2020, 09:18:13 AM »
I think we must insist grey shop to issue receipt/invoice with their company letterhead then we only transfer fund to their company account , if hand written receipt and bank in to personal account u know they dont report/declare the sales.

Offline nctt1971

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Re: Best method to pay Grey Dealer
« Reply #7 on: September 12, 2020, 04:31:38 PM »
Most grey dealer do not issue receipt especially with company logo. that is why its grey. I would say bank transfer or cash. If cash, preferably can meet in a bank and bank in immediately to be safe.

Offline joink

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Re: Best method to pay Grey Dealer
« Reply #8 on: September 13, 2020, 05:52:13 PM »
Always use bank transfer instead of cash. At least it still has some sort of paper trail.

Offline bulletnos

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Re: Best method to pay Grey Dealer
« Reply #9 on: September 15, 2020, 09:21:12 PM »
Bank transfer is good enough. Normally you get about 1-2% discount if you paid cash as they save on merchant fees for credit card.

Bought 2 watches during MCO via 2 different dealers...both reputable, and no issues in transferring.

Happy hunting