If someone wanted to purchase a watch from you and requested a face to face meet, what would you request in case they wanted to buy it on the spot? I previously said I would accept wire transfer or Paypal, but since wire transfers take up to a day for the funds to be deposited I would feel uncomfortable releasing the item until the money is in my account. I also wanted to offer him the option of avoiding PayPal fees, so would you accept a money order in person or is wire transfer still the best route?


Thanks OF

 

Cash talks.....and walks.

 

Here in Sweden we have something called swish.
All the banks is connected and thru your internet bank you connect your mobilenumber and confirms wish account that should be connected thru mobile BankID.. everything is managed thru the phone.

So when we meet up, I enter the sellers mobilenumber in the app, enter the amount, confirms and now I see the name and can confirm thru a code I've chosen with the mobile BankID. The money reaches the seller the same time I confirm and thats regardless wish bank he or I have.

In swedish but you get the idea.

 

Cash only.

Be careful as there are now dodgy fake bank apps for mobile phones around where it looks like an instant bank transfer has been made, but in fact it hasn't. An acquaintance of mine was selling an expensive watch and this was attempted with him, fortunately he has his head screwed on correctly so didn't fall for it. After instead insisting on a short walk to the bank to transfer the monies the " buyer " went to quickly get something from his car and was never seen or heard from again.

 

Cash at the bank. I just sold one F2F. We met for coffee, once agreed, met at bank. Inside we made exchange. BTW, it was a rolex collector making a move into Omega. I am not into rolex, but he did bring a very cool 1964 Tudor sub to share, and it was in remarkable condition.

 

Cash, Paypal gift or other instant transfer methods where funds are immediately available for deposit. Quickpay, BofA transfer, popmoney and the like aren't accepted since they can be reversed without both parties' consent.
Prefer places with camera security systems in place, so a bank or even a local coffee shop can do.
NO checks, money orders or other paper promissory notes.

 

If you do f2f, make sure to do it somewhere safe, and be wary of handing it over, even for a try on..

 

Cash or paypal. I've done a few F2F sales, and few F2F trades, and one F2F purchase, and these two methods are the only methods that were used. As a seller, I obviously prefer cash to paypal but paypal is better than wire in a F2F deal for the timing reasons described above.

 

Did anyone say "cash" yet?

Bought a VC at Starbuck's in Bala Cynwyd (actually I paid him in the car), and sold a Maurice Lacroix at Jackson Outlets off exit 7A down 195 (he paid me in the car). Lotsa hundreds changed hands both days.

 

Cash, and a meeting at the Bank of my Choice so I can deposit the Money Instantly. This way you can also be asured that you don't get counterfeit Money as it is checked on deposition. Sometimes, or at least in my experiance, you can also call the Bank bevore and they can provide you with a room where you can have a Chat with the potential buyer in a private and Safe environment. Handled all my Sales this way and never had a buyer disagreing with these terms.As a matter of fact, it is a huge red flag for me if someone does not want to meet up in a Bank for final payment.

 

Had a F2F fall through when I insisted we meet in a client reception room in my office (we have a lot of banks in our building) - he would only meet on the street in front of Moorgate station... Yeah. NO.

 

meet at your bank. Have him bring a certified cashiers check. Check is deposited right there before he walks with watch...or, meet at his bank and have him get a certified cashiers check while you're there. good as cash.

Or...ask for the money to be handed on small non sequential bills inside a brown paper bag. Before he gives it to you he may ask for proof of life though!

 

People handing cash inside a car in a parking lot....very inconspicuous....

 

what's the saying?...possession is 3/4 of the law?

"Oh let me try it on...thank you....Help help! this man is trying to take my watch!!! yeah the one I'm wearing!!"

 

Exactly what my wife had a laugh about.

 

Thank you everyone! The potential buyer actually requested we do it at a bank or police station so I didn't have to argue for doing it at a secure location. It seems cash is the most popular option. I'll bring it up with him soon.