The Breitling Watch Source Forums

Hi Guys,
I am planning to put my 2008 AS Blacksteel up for sale. However, before I do, I would like to have some idea of normal procedures for the seller/buyer when the watch changes hands. If it's not a local sale, pics will obviously have to be posted, with a description etc. like I see in the other ads.
My question is really regarding how I go about collecting the bucks when/if the watch sells. Does the buyer usually send the money, then I send the watch when I receive the money? I tried to look at the PayPal website, but it doesn't seem to cover the buyer/seller needs for this type of thing. I have also thought about posting it on eBay.
Any thoughts, advice or suggestions would be greatly appreciated.
Cheers,
Carl

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'63 Omega Seamaster, 2014 Omega Speedmaster MarkII

"Those who possess a sense of entitlement are seldom satisfied"

Carl, This is not that painfull..

If you accept PayPal you simply have a Paypal account set up in advance and have the seller send the money to your PayPal account (email address registered with PayPal). Then you log into your PayPal account and initiate the transfer of the money to your bank account. Remember that is is standard practice to request that the buyer pay an additional 3% if paying with PayPal, because PayPal will charge you this fee from processing the transaction.

Also keep in mind that thier are a lot of scammers using PayPal and the only way I will accept money from a person, I dont know, for a high ticket item Im selling is 1) they must have a verified address account with PayPal and 2) you dont get the watch (or whatever) until the money has been sent via PayPal AND FULLY TRANSFERED INTO MY BANK ACCOUNT. The latter process can take up to 3-5 business days.

Another way is bank wire transfer. This takes a little more work, on both parts, but is almost instantly in your account and no real chance of fraud. You will have to get the routing number from your bank and ask about receiveing a wire transfer to get the details.

Remember the most important thing is DO NOT SEND YOUR WATCH UNTIL YOU HAVE THE FUNDS or 100000% trust the individual!

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Breitling Steelfish(black)
Breitling Steelfish(silver)
Panerai PAM 312
Bell & Ross BR03-92 Phantom
Steinhart BreitlingSource LE #5/15

Carl,

As Bronco says, you keep the watch till you are sure you have received the money. Any buyer not comfortable with that is very likely not an honest buyer.

As said about paypal, you get the money immediately to your paypal account and then you should transfer them to your bank account - make sure to add the 3% to the payment and state early in the ad that you will do so if the buyer uses paypal. However, there are some things to add to what Bronco said: I'm not sure if it is only US citizens or north americans that can verify their address, but I as a Swedish citizen can't and I know this problem exists in other places in Europe. If you demand that the buyer has a verified address, you will miss out on any European paypal buyer. Also, it was discussed a few months back on this forum - even if you have transferred the funds to your bank account, paypal can make you re-pay any claimed payment (say, made with a stolen credit card). Transferring your funds to your bank is not enough. Best thing is to buy the seller as well as he/she should buy your credibility before closing the deal.

Regarding bank wires, that may be very fast within US, but not from (at least some parts) Europe. I've made bank wires from Sweden to both US and middle East, and the bank wire has taken roughly 5 working days to complete. Keep that in mind.

Good luck!

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Collection: http://s540.photobucket.com/albums/gg32 ... mview=grid

Thanks BroncoSport and aleister,
I appreciate your quick replies. It's a good thing I'm not in a hurry to sell, sounds like I really need to take my time and make sure that I verify the buyer before I go ahead. As I'm not used to doing this sort of thing, I do find it a bit daunting. Eventually, I will just take the plunge and go ahead!
Thanks again for you help and advice.
Cheers,
Carl

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'63 Omega Seamaster, 2014 Omega Speedmaster MarkII

"Those who possess a sense of entitlement are seldom satisfied"