Do & Don't of Sellers & Buyers

[pegasi]

Hi all,

I would like to share my experience in selling and buying watches online, to mark my 1000 posts in SG-ROC, and as a way to contribute back to the forum.

I am aware that there are many more experienced and senior members out there who can give better advices, but I am going to kick this off anyway and invite you to also share your experience in this thread in similar form (i.e. do & don’t), in an objective and not emotional way.

It is my intention to focus on the behaviour of sellers/buyers, and not the technique of selling and negotiation, hence things like how to write/post a good sale thread are not in the scope (my thread my rules, hehe).

Without further ado, here it goes…

[pegasi]

Sellers:

(1) Do make known to buyer if you might not reserve the watch for him in the event when you receive a better offer before the meet-up.
(2) Do honor your words once you have agreed to deal at certain price. Your reputation is worth a lot more than a hundred dollar.
(3) Do inform the seller ASAP if you for some reason cannot turn up for an scheduled meet-up.
(4) Don’t get too upset if you feel you receive a “low ball”. Just ignore it. The definition of “low ball” is subjective.
(5) Don’t spend the money before it’s in your pocket - a deal is not done until it’s done (i.e. watch and money change hands).


Buyers:

(1) Do find out the desired details of the actual watch before the meet-up.
(2) Do indicate your intention beforehand if you want a no-obligation viewing, to manage seller’s expectation.
(3) Do not assume the watch is reserved for you even when there is an agreement to deal, especially when the meet-up cannot take place soon.
(4) Do arrange for the watch to be authenticated if you are in doubt, but inform the seller your intention before the meet-up.
(5) Do inform seller before meet-up if you intend to use other mode of payment other than cash.
(6) Do take all precautions before the deal, or be aware of the risk you take. Once the watch changes hands, it would be difficult to hold the seller responsible for any problem with the watch.
(7) Don’t get too upset if you lost a good deal. You cannot lose what you never had.

[Louis V]

Congratulations on your 1000th posts and thanks for sharing

[triton]

it is not the seller responsibility to inform any potential buyer that the watch can/cannot be reserved. buyers need to be aware that it is up to the discretion of seller to extend courtesy to any potential buyer the option to reserve a watch. if it is not indicated in the thread that it is reserved, all buyers should be aware that the watch is not reserved and that means it is still on first come first show money buy first. even if it is stated that it is reserved, a seller can still pull out of a deal by citing any reasons valid or not which is subjected to different interpretation

whether to honor the words is each seller's integrity. if a seller wants to pull out any deal, a seller can come out with any excuse, valid or not is subjected to other people's interpretation

[albertgo]

Like to also ask the following:

Is it necessary to have a sale agreement between the two parties (nick in forum used) to acknowledge the sale, price, model number/ serial number of watch, watch is of legitimate origin, time and place of sale? Or just authentic at RSC is good enough?

Is there any need for a permit/licence for watch trading here in SG?

tks.

[FullHouse]

IMHO, all deals will need 2 hands to clasp plus a common/mutual understanding in negotiating and confirming the deal with honour too! Next , during meet-up, must be ready to commit for all parties if the items discussed was not accordingly meet the specs etc...
Finally,don't just walk away even the deal call-off! Nobody will know both of you will meet and deal the next day!
Let's hope this can help in confirming the deal through my own experiences, Fyi

[Oceanklassik]

I think Mr pegasi has given us a very good piece of 'Rules 101' for trading in the forum. Easy to read and understand.

Tx, sir

[triton]

if you feel it is necessary to draft out a sales agreement, then go ahead.

i am not sure if there is a need for a permit/licence for watch trading here, as far as i know, i will attempt to seek the opinion of couple of watch trading forum in sg and then feedback to you.

Like to also ask the following:

Is it necessary to have a sale agreement between the two parties (nick in forum used) to acknowledge the sale, price, model number/ serial number of watch, watch is of legitimate origin, time and place of sale? Or just authentic at RSC is good enough?

Is there any need for a permit/licence for watch trading here in SG?

tks.

[pegasi]

it is not the seller responsibility to inform any potential buyer that the watch can/cannot be reserved. buyers need to be aware that it is up to the discretion of seller to extend courtesy to any potential buyer the option to reserve a watch. if it is not indicated in the thread that it is reserved, all buyers should be aware that the watch is not reserved and that means it is still on first come first show money buy first.

I generally agree with these statements. Which is why I also advised the buyers to not assume a watch is reserved. A lot of unhappy dealing experiences can be avoided if both sellers and buyers apply some human touches. We read too often that buyer complains seller agreed deal then sold to someone else, so obviously what you said is not a common understanding, yet.

[pegasi]

whether to honor the words is each seller's integrity. if a seller wants to pull out any deal, a seller can come out with any excuse, valid or not is subjected to other people's interpretation

Integrity is exactly what I am asking from the sellers

[trapping-bird]

Do you guys exchange photocopied if your Ic when watch selling/buying?

[pegasi]

Do you guys exchange photocopied if your Ic when watch selling/buying?

I heard about this before, but never happen in all my dealings. I think this practice is not a norm.

To me photocopy IC does not serve much purpose. If buyer discovers something wrong, say after few days of even few hours after the deal and get back to the seller, the seller can argue that he does not know what happen to the watch after the watch left his hands.

[december20]

so for buyers stand, u have to 100% check on the watch before releasing the cash..

[pegasi]

so for buyers stand, u have to 100% check on the watch before releasing the cash..

The only way to do "100% check" is to send the watch for authentification.

There are many buyers who perform visual inspection themselves (not just the watch but also check the papers, serial no. etc) based on their own knowledge and past experience in handling similar watches.

Some people would say "buy the buyer", meaning one should go for reliable source/seller. I would say there is no guarantee even if the buyer is a reliable guy with good track record especially if he is just a normal watch collector, as he himself might not have thoroughly checked all the watches he purchased.

For me it very much depends on the vaule of the watch, and how confident I am in inspecting the watch myself. If the value is too high for me to take a risk, then I would do a authentification before deal.

[pegasi]

Congratulations on your 1000th posts and thanks for sharing

Thanks LV!

From some of your posts I can tell that you have been quite busy in buying/selling watches. Look forward to hearing some of your experiences

I think Mr pegasi has given us a very good piece of 'Rules 101' for trading in the forum. Easy to read and understand.

Tx, sir

Thanks for your support. Someone with more than 12,000 posts should have many sound advices to give I believe