Author Topic: what best and safe method to transaction pre-watches value more than 50k?  (Read 3350 times)

Offline ohlian

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newbie here, wanna to ask,
if to transaction (buy/sell) watches value more than 50k between buyer seller.
what is best method on payment ?
COD? bank tranfer or how ?
and anything to aware/avoid so to protect the watch from scam?

Offline treasureplanetmy

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Re: what best and safe method to transaction pre-watches value more than 50k?
« Reply #1 on: September 17, 2022, 12:08:34 PM »
I would recommend bank transfers. Meet the seller in an authorised watch shop or a 3rd party watch shop that can provide inspection services for about Rm150-300. Pay the fees as this is insurance or security to make sure the watch is genuine and legit. Always do due diligence on the seller. Buy the seller instead of the watch. If the price is too good to be true, treat it as a red flag. Research, research and more research.

Offline ohlian

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Re: what best and safe method to transaction pre-watches value more than 50k?
« Reply #2 on: September 17, 2022, 02:39:29 PM »
ooo.. :Praying:

if for selling,
advice how if the buyer say it unable to make big transfer because over bank transfer limit.
so ask me to his recommended office place for inspection, and he offer part bank transfer and part COD.

Offline treasureplanetmy

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Re: what best and safe method to transaction pre-watches value more than 50k?
« Reply #3 on: September 17, 2022, 04:00:21 PM »
I think 50k is still within bank transfer limit if I recall. He/she can always transfer from a few banks. I think part bank transfer and COD is fine but preferable always to do it in a public place. Watch shops are the best for such large transaction items. Don’t risk your life over selling a watch, my man.

Offline ohlian

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Re: what best and safe method to transaction pre-watches value more than 50k?
« Reply #4 on: September 18, 2022, 08:27:59 AM »
noted. thanks for the advice.  ;)

Offline Doreemon

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Re: what best and safe method to transaction pre-watches value more than 50k?
« Reply #5 on: September 18, 2022, 09:06:51 AM »
Most watch shops dislike outsiders doing business in their premise, sure u can ask them to inspect for authenticity but please bring the transaction outside. If it involves a big sum of money i would suggest completing it in a bank


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Offline dpkong

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Re: what best and safe method to transaction pre-watches value more than 50k?
« Reply #6 on: September 18, 2022, 08:30:22 PM »

It appears you want to know how to SELL a watch safely. If you know the buyer then you can relax some rules. If you don't know the BUYER, then..

1. Choose an enclosed location like Starbucks in a mall so buyer cannot just bring a few friends to come and snatch the item away and run.

2. Allow inspection on the spot but do not let the watch leave your sight. No opening of caseback etc or other actions that could damage the watch.

3. Transaction by Instant Transfers only. Ask buyer to use multiple accounts to transfer. Or spouse account. I think CIMB account can transfer up to RM250k daily.

4.  No GIRO. No CASH.

5. Make buyer aware absolutely no refunds, returns, remorse once watch leaves your sight. He can still go make police report later and said you con him/her so think of ways to make sure he has no legal means to con you.


But to be honest, if I was a buyer and the seller made such rules, it would be difficult to proceed because seller could also be a con-man. Of course you could ask to have the watch inspected at a reputable watch shop but unless you know the owner, how can you be certain they are not working together to con you? And do you personally know any watch shop owners?


This is why most people prefer to just sell to the shop and avoid the hassle.

If buying, buy the seller and likewise if selling, know the buyer.


BTW, what watch are you planning to sell that is more than 50k?


Offline ohlian

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Re: what best and safe method to transaction pre-watches value more than 50k?
« Reply #7 on: September 19, 2022, 07:43:53 AM »
okok. now noted. thanks for all the advices.
nola. just asking because curious.

i understand the process when transact a pre-owned watch,
i did brought few piece watches with forum member as well before this.

but just wondering whats the way, what to concern and how u all can safely and confident to sell/ to buy a preowned watch with a stranger which price over a bank daily transfer limit ?
(p/s: i thought bank daily transfer capped at 50k.)

 :Praying:  :)

Offline jf98

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Re: what best and safe method to transaction pre-watches value more than 50k?
« Reply #8 on: September 19, 2022, 10:30:58 PM »
I recently sold a watch for 45k to an outstation buyer. The buyer organised inspection at a watch shop without being present and  transferred the money over to the shop beforehand. Once everything checked out, the shop just transferred the money over to my account and they arranged for shipping to buyer later on. They charged RM300 for their authentication service if I'm not mistaken

Offline Doreemon

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Re: what best and safe method to transaction pre-watches value more than 50k?
« Reply #9 on: September 20, 2022, 07:23:57 AM »
I recently sold a watch for 45k to an outstation buyer. The buyer organised inspection at a watch shop without being present and  transferred the money over to the shop beforehand. Once everything checked out, the shop just transferred the money over to my account and they arranged for shipping to buyer later on. They charged RM300 for their authentication service if I'm not mistaken

So does the watch shop opens and do the checking in front of u or do they get u to wait outside while they bring your piece inside?

Offline jf98

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Re: what best and safe method to transaction pre-watches value more than 50k?
« Reply #10 on: September 20, 2022, 10:36:14 AM »
So does the watch shop opens and do the checking in front of u or do they get u to wait outside while they bring your piece inside?

My watch had display caseback so they did not open it up. The shop owner initially inspected it under a loupe in front of me first, then brought it to the back workshop to check further. Shop had glass windows between the lounge area and back watchmaker workshop as well, so I could see everything at all times.

Offline hong999

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Re: what best and safe method to transaction pre-watches value more than 50k?
« Reply #11 on: September 20, 2022, 11:01:52 AM »
I normally sell my watch via meet-up, because the watch has no warranty and the buyer will normally request to inspect the watch before making payment. I also want to ensure the bank transfer is done on spot, and money come into my account.

Offline bc40

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Re: what best and safe method to transaction pre-watches value more than 50k?
« Reply #12 on: October 22, 2022, 09:02:37 AM »
buyers will always want to inspect. there has been some cases of running away with the watch recently. i would suggest to bring more people with you. part cash part instant transfer immediately if instant transfer is only rm50k a day. otherwise he can use few banks to transfer to u

Offline Vicc8433

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Re: what best and safe method to transaction pre-watches value more than 50k?
« Reply #13 on: October 13, 2023, 12:20:42 AM »
I would prefer to meet up and COD/bank transfer. If over limit can still use multiple bank accounts to make the transfer


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