The Breitling Watch Source Forums

Is there anyone else here who refuses to purchase a watch via Bank Wire? Really turns me off when seeing a sales ad for a watch I am about to jump all over when the seller states "bank wire only".

Why is it fair that all the risk has to fall on the buyer? It's way too easy to get burned by prospective sellers once you wire funds to them. I've never once had an issue with PayPal, and I've bought and sold things for years.

Anyone else feel the same way? I will never require a buyer pay by wire when selling a watch.

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Mmmmm

I have also noticed this a bit strange actually. Maybe those people are a bit oldschool and dont trust services like paypal. I have heard about people who have had bad experiences with the insurance system that paypal offers to cover both the buyer and the seller in fraud cases. You can find these "i hate paypal" pages on the internet if you use google. Maybe if you are interested you can read more about it on the net.

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Breitling Super Avenger w/Pro 2 Black batons 2009

"The repairman has never seen a model quite like yours" Murphy´s Law

Agreed. As a buyer, I will pretty much only use paypal. I'm even willing to split the fees with the seller. I figure that 1-2% is worth it as insurance. And I always pay with a credit card so I have a second layer of protection.

i agree sellers should accept paypal...but if he can provide excellent references why should he have to split the paypal fees? if i know i'll be paying by paypal i will always negotiate prices including the paypal fees so there won't be any issue later about adding on the fees and to split or not split etc etc.

Agreed. I will NEVER use bank/wire transfer for a transaction with a private individual. There's no way I want to be taking all the risk when it comes to moving money around. Paypal, while being fairly expensive, is safe for everyone concerned, so buyers should be prepared to accept it IMHO, even if it means negotiating the fees. I know I do.

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Driver8

Site Moderator

If I know the seller 100%, I will go the bank wire route, absolutely no problem.
In fact I have done it a couple of times...

Doesn't cost anyone a penny...its totally free, provided both parties use the same financial institution.

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Rolex DeepSea, GMT Master II TT, Pres 18038, DJ TT 16013
Breitling Chronomat 39mm (bullet+UTC), Starliner SS/MOP (wife)

back with ROLEX

I always use PP unless I know the person very well.

In Croatia you can't receive the funds on PP.

I am just making my first purchase on PayPal, from a private seller. I did sell two watches, though, via PayPal, and had no problem at all. Like one of the posts says, a bit expensive, but relatively risk-free.
The only drawback, though - at least to me - is that you have to be prepared to wait. I requested a transfer from my bank account to my PayPal account, and am told it takes 6-8 business days. Once the money is in my PayPal account, though, I think that I can transfer it almost instantly to the seller's account.
Why it takes so long, I have no idea. I have both an established PayPal account, and more than sufficient funds in the bank. It is supposed to be electronic, yet if I had sent a Bank Draft I would likely have the watch already. A bit annoying, but I have patience, and I do feel it is secure.
Cheers,
Carl

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'63 Omega Seamaster, 2014 Omega Speedmaster MarkII

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

Well, ya. If I know the person, and we've traded before, then of course I'll do a bank transfer. However, it's nowhere as convenient...

Same thing when people request "Gift" method via PayPal. If you pay via Gift, there is zero recourse for you as a buyer if the deal were to go sideways.

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Mmmmm

Wow, I've never had someone do that. Only done gifts to dodge import duties.