yes, this is my first post! I joined hoping to learn and contribute, as well as utilizing this site as another resource in my search for a specific speedmaster.

As luck would have it the watch I’ve been hunting is listed on this site and have reached out to the seller. I’m in the conus and seller in EU. While I’ve purchased many things internationally none have been from a private party.

I’m looking for best practices from those who have bought and sold internationally.

Transfer of funds
Shipping services
Minimizing risk for both parties
What determines if import duties are applied

Im sure other considerations not listed, appreciate the feedback

Look forward to being part of the community!

 

Here is a sticky for shipping:
https://omegaforums.net/threads/best-packing-and-shipping-practices.94229/

There are a ton of threads that discuss these items. There are also threads where people have either made a mistake, or almost made a mistake. Use the search function. It opens up a whole new world...

 

Welcome to OF!

On # 1 and from a [CONUS based] buyer's perspective, I always use a credit card for all of my purchases - this is the option that offers the best protection to buyers. On #2, on my last purchase from a Seller based in Europe, the Seller offered an optional service --for an additional fee-- to handle all the required customs paperwork and fees. For me this option was worth every penny as I did not have the time or the desire to deal with any PITA associated w/the import duties/customs drill.

Good luck in finding your Speedmaster!

 

Welcome to the forum. It really depends who your seller is.
Is the person someone well known and who has many references, a private seller or a professional seller, someone experienced or not?
There's a feedback section where you can see if the person has had previous transactions.
You can always publish a public call for references - i've done that before when buying from a forum,
again the seller would also be entitled to ask you for references.

- For payment: professional sellers may accept all sorts of options.
A private seller may offer more limited options and require a wire transfer or paypal friends to minimize his own risk.
I would say that is legitimate if the buyer is unknown and has no references.

In my experience, both wire transfers and Paypal friends carry hidden currency conversion costs.
Paypal and/or the seller's bank will always end up applying some sort of extra currency conversion charge or bad conversion rates which will end up making it somewhat more expensive for you than you initially thought or estimated, let's say by a few dozen dollars - if you're wiring 3000 dollars or so. It's always annoying but it's unavoidable - which is why sellers specify the currency and how much they expect to get net of all costs.

- for shipment - for a watch like this it's best to use courrier services but not all of them offer insurance.
if the seller is a professional seller they may have access to a professional insurance.
If they're a private collector, they probably have some level of experience dealing with it and it's something to discuss.
Also read the advice in the threads "best shipping practices", and there are other threads dealign with insurance.

- customs - import taxes are the responsibility of the buyer;
I never heard of services where the seller handles customs for the buyer except on Ebay, again if the seller is a professional they might have access to some forwarder but if they're a private seller I doubt they will.
- luckily for you in US the import taxes are not half as bad as they are in Europe.

-a good way to minimize risks is to post the watch being sold and ask people here for a second look at the watch.
However you should be aware on an international transaction involving a valuable object there's always a level of risk involved for both parties.


Best of luck for your purchase,
S

 

Thank you for your thoughtful response!

 

Your input is much appreciated!

 

Thank you - I did try “search” and found a few things, will look again with some different key words

 

PS - If it were me, I would certainly not engage in a transaction like this if the shipment cannot be properly insured.
Because if the shipment gets lost and it wasn't insured, you're in for a problem.

 

My best advice is to be patient. I don't know how far along you are in your education on watches, but I personally feel like I never know enough, certainly not compared the vast majority on here. The longer you stick around here - it's not just about reading all the threads, it takes time to really absorb the knowledge - the better armed (and confident) you'll be.

 

OP got great advice from all members who posted.
I deeply relate to this and I cannot recommend your advice enough. Thankfully, the people here are very kind and tolerant.

 

Transferwise is a good way to transfer funds between two people who trust each other. Low fees and good exchange rates.