Malaysia Watch Forum
Main Forums => General Discussion - Modern Watches => Topic started by: squasub on September 28, 2017, 08:38:58 AM
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Hello guys,
I have sold a few watches locally (cod), but no experience in selling watch to oversea. I would like to know:
1. which courier service is the best/safest to use
2. should i take insurance for the watch(more than rm20k value)? If yes, which insurance & how
3. how to accept the payment from buyer (paypal)?
4. any tax will be charged?
Thanks for helping..
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Hello guys,
I have sold a few watches locally (cod), but no experience in selling watch to oversea. I would like to know:
1. which courier service is the best/safest to use
2. should i take insurance for the watch(more than rm20k value)? If yes, which insurance & how
3. how to accept the payment from buyer (paypal)?
4. any tax will be charged?
Thanks for helping..
hi bro squasub, i will chip in with info based on my previous experience.
1. which courier service is the best/safest to use
ans : you may try DHL price depend on location you sending to. UPS seems to be cheaper to the state but i had nvr tried that before
2. should i take insurance for the watch(more than rm20k value)? If yes, which insurance & how
ans : i did not purchase the insurance for the watch i courier to buyer. 1 of it is close to 16k
i did ask for insurance coverage from my previous purchase from 1 of the seller, and come to know that is close to 120 USD for a 2 k value watch
3. how to accept the payment from buyer (paypal)?
ans : paypal but u can ask for wire transfer provided the buyer has trust on you
but please bare in mind paypal exchange rate is crap when u wanna deposit back to your acc and they charge 4 % from seller for any fund u receive
4. any tax will be charged?
ans : tax should be borne by buyer.
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Hello guys,
I have sold a few watches locally (cod), but no experience in selling watch to oversea. I would like to know:
1. which courier service is the best/safest to use
2. should i take insurance for the watch(more than rm20k value)? If yes, which insurance & how
3. how to accept the payment from buyer (paypal)?
4. any tax will be charged?
Thanks for helping..
hi bro squasub, i will chip in with info based on my previous experience.
1. which courier service is the best/safest to use
ans : you may try DHL price depend on location you sending to. UPS seems to be cheaper to the state but i had nvr tried that before
2. should i take insurance for the watch(more than rm20k value)? If yes, which insurance & how
ans : i did not purchase the insurance for the watch i courier to buyer. 1 of it is close to 16k
i did ask for insurance coverage from my previous purchase from 1 of the seller, and come to know that is close to 120 USD for a 2 k value watch
3. how to accept the payment from buyer (paypal)?
ans : paypal but u can ask for wire transfer provided the buyer has trust on you
but please bare in mind paypal exchange rate is crap when u wanna deposit back to your acc and they charge 4 % from seller for any fund u receive
4. any tax will be charged?
ans : tax should be borne by buyer.
agree on the above, sending watches overseas is a risk. In my experience, courier companies big or small can still lose a parcel. I used my company courier as they charge lower than ad hoc cases. Insurance is a must (buyer should pay and if he refuses, risk is his). I always ask for wire transfer although I have a paypal account. All taxes should be borne by buyer. I don't think individual sales like this will attract Malaysian GST.
Don't forget also the paperwork for clearance!
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Thanks guys for the information. appreciate the help.
btw bro Kesharoo can u explain more on the "paperwork for clearance" thingy?
Thanks..
Hello guys,
I have sold a few watches locally (cod), but no experience in selling watch to oversea. I would like to know:
1. which courier service is the best/safest to use
2. should i take insurance for the watch(more than rm20k value)? If yes, which insurance & how
3. how to accept the payment from buyer (paypal)?
4. any tax will be charged?
Thanks for helping..
hi bro squasub, i will chip in with info based on my previous experience.
1. which courier service is the best/safest to use
ans : you may try DHL price depend on location you sending to. UPS seems to be cheaper to the state but i had nvr tried that before
2. should i take insurance for the watch(more than rm20k value)? If yes, which insurance & how
ans : i did not purchase the insurance for the watch i courier to buyer. 1 of it is close to 16k
i did ask for insurance coverage from my previous purchase from 1 of the seller, and come to know that is close to 120 USD for a 2 k value watch
3. how to accept the payment from buyer (paypal)?
ans : paypal but u can ask for wire transfer provided the buyer has trust on you
but please bare in mind paypal exchange rate is crap when u wanna deposit back to your acc and they charge 4 % from seller for any fund u receive
4. any tax will be charged?
ans : tax should be borne by buyer.
agree on the above, sending watches overseas is a risk. In my experience, courier companies big or small can still lose a parcel. I used my company courier as they charge lower than ad hoc cases. Insurance is a must (buyer should pay and if he refuses, risk is his). I always ask for wire transfer although I have a paypal account. All taxes should be borne by buyer. I don't think individual sales like this will attract Malaysian GST.
Don't forget also the paperwork for clearance!
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Where to you sell to oversea market?
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1. i've sent a few using EMS / poslaju, no issues.
2. u need to ask the courier.
EMS / poslaju only insures up to USD999.
DHL up to RM10k...but i hear changes are underway in that they will slowly stop accepting expensive watches.
up to u to go ask the rest.
3. paypal.
4. thats not for u to worry about.
oh ya, try to document everything...from packaging to going to post etc...just in case there are any disputes.
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By paperwork I mean the courier company documentation which will include custom declaration etc.
good luck!
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no particular country, could be any
thanks guys for the input :thumbsup:
Where to you sell to oversea market?
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Informative and useful thread. Subscribing to this!
I’ve only been buying from overseas rather than sending and would also like to know the best couriers to send with.
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I am a serial watch flipper, and have had more than 60 watches coming in and out of my collection; so I have a bit of experience in this context. Most of these watches eventually went to other collectors locally and from across the Causeway; but there had been some that travelled to Europe and the likes. It helped that I used to work at that part of the world, so I could pass on to friends as transit point; and they in turn assist to have COD whenever possible.
1) I have used various couriers, although some have had delays. But no rule of the thumb here, it's more like taking your chances. (Just like I have seen in-coming parcels being diverted to totally different addresses [as seen on the web-tracking page] by local courier companies and complaints from both mine and the seller's side thereafter fell on deaf ears. Thankfully, the seller had insurance and refunded me the monies paid.)
2) Best to take all-risk insurance to cover for any damages or lost in transit. However, IIRC, the coverage differs from courier companies to companies; and some would outright reject the service if they were not comfortable to send it out. Why so, you'd ask. Well, I was informed that based on claims experiences, they have had customers claiming to send original timepieces out but thereafter complained that the recipients received faked watches; and the courier companies were none the wiser. I once had to send a RM40k watch and the courier company informed me that they could not do the courier if I wrote in the details as such on the CN, and advised me to send it labelled as just watch. After all, he reasoned that only he and me would know the real value of the watch; so that would be relatively safer. If I was sending vide courier overseas, I would only do so if there was a much higher premium in the sale price compared to selling locally, or if the value of the watch was in the lower ranks such that it would not be a big hit to the pockets.
3) Payment was mainly through Pay-Pal for overseas buyers. Note that they do hold the sum for a period; and in case of disputes (whether genuine or otherwise), they could effect a return to buyer if proven that seller was at fault.
4) GST for the countries differ from one to another, and is borne by the buyers. Normally, they would have effected in the full GST while negotiating with the seller.
Hope this helps.
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Haha. I just need a couple more posts before I could post in the marketplace to sell this car. Until then, craigslist it is. lol. But id much rather sell it here.
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Just try once
Location was Singapore
Kena tax due to the item value above 600 sgd
Learned a lesson
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Good information. How about the best platform/website to sell watches abroad? Have anyone tried eBay?
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Sell through watch forum. Never tried eBay.
Would like to try one day. Can anyone share their experience selling thru eBay?
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Sell through watch forum. Never tried eBay.
Would like to try one day. Can anyone share their experience selling thru eBay?
Hi Yoda,
Which watch forum have you tried? I tried to sell on eBay before but it's a bit tough because the eBay market in SEA is very small.
Sent from my iPhone using Tapatalk
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Sell through watch forum. Never tried eBay.
Would like to try one day. Can anyone share their experience selling thru eBay?
Hi Yoda,
Which watch forum have you tried? I tried to sell on eBay before but it's a bit tough because the eBay market in SEA is very small.
Sent from my iPhone using Tapatalk
I sell through SCWF, WUS and once they are in the trading forum it automatically captured in Watchrecon.
Btw isn't eBay worldwide has a far better market and access?
I need some tutorial you on how to sell through eBay.
Thanks in advance
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Sell through watch forum. Never tried eBay.
Would like to try one day. Can anyone share their experience selling thru eBay?
Hi Yoda,
Which watch forum have you tried? I tried to sell on eBay before but it's a bit tough because the eBay market in SEA is very small.
Sent from my iPhone using Tapatalk
I sell through SCWF, WUS and once they are in the trading forum it automatically captured in Watchrecon.
Btw isn't eBay worldwide has a far better market and access?
I need some tutorial you on how to sell through eBay.
Thanks in advance
I’ll check out SCWF and WUS later. You can simply open an account in eBay. But again the algorithm in eBay usually will sort your item to be appeared in SEA region customers instead of overseas.
eBay is very successful in Western Countries and Australia (english speaking countries) but I think the language barrier and small market cap have deter them from penetrating SEA region.
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