new style of scam?

[nickpan]

happened to me 2 weeks running: buyer is keen and chatty, happy to make a 2 hour trip to get the watch, but at the last moment refuses to come into the house. "Too risky", they say. "can't we go to a nearby pub or cafe so that i can look at the watch?"
So who would be the vulnerable one then? me.


Should have tried on here I suppose - I'll prepare an ad now, SS Daytona 2012 black face

[exp90]

The general idea of selling from the doorstep is scary. A friend had a buyer visit their home, only to open the door and within seconds the buyer forcefully snatched the watch and ran off. Dealer only for me tbh.

[nickpan]

yeah, I know what you mean. Trouble is I bought at the height of the price rises, late 2022 (£22000), and today a dealer would offer me £12.5k... :(

[Harry-57]

Originally Posted by nickpan

Trouble is I bought at the height of the price rises, late 2022 (£22000), and today a dealer would offer me £12.5k... :(

This could be the least of your problems now they know where you live. Hope it isn't.

[IGY]

Originally Posted by nickpan

yeah, I know what you mean. Trouble is I bought at the height of the price rises, late 2022 (£22000), and today a dealer would offer me £12.5k... :(

This is called the sunk cost fallacy. The price that you paid for the watch is totally irrelevant to the value of the watch now.

As for the other comments, I agree. I'd never want to invite strangers into my home. And I'd be against meeting up in a cafe or similar location to sell a watch. Recently seen a video showing an older guy getting ripped off by a younger guy who literally just pegged it out the cafe with the old guy just looking shocked. See here starting at the 15 second mark:

https://www.youtube.com/watch?v=PY_karmd4sc

The idea of meeting up inside of a bank might be a better idea, but even then... what do you expect the bank staff to do if you get robbed? Maybe in the USA there is armed security that might intervene, but here in the UK they are more likely to just watch you get mugged from a safe distance, mute until it is safe enough for them to check if you need an ambulance. And even then you have the issue of security getting to the bank and leaving it.

Nah... used watch dealers have premises designed for this kind of transaction, they have business insurance and this is part of the way that they earn their sales commission. I'd rather have them deal with it and pay for the service than take any risks.

To be honest it sounds like you dodged a bullet with this phantom buyer. But I'd not be happy if this guy had my address. Make extra sure that the majority of your valuables are in safe, off site storage if I were you.

[S’portEye]

It’s crazy to do a sale in your house anyway.

[slide13]

Sounds potentially scammy for sure. I would check out the local police station to see if they offer a place to meet for transactions. Many do. Suggest that...someone concerned about safety would welcome the option I'd think and a scammer will start with the excuses.

[exp90]

Originally Posted by slide13

Sounds potentially scammy for sure. I would check out the local police station to see if they offer a place to meet for transactions. Many do. Suggest that...someone concerned about safety would welcome the option I'd think and a scammer will start with the excuses.

This involves you taking the watch there and back - its trivial to rob you on either journey. The watch ideally isn't traveling around.

[GB-man]

Insane to meet at your home unless you’re a bachelor. I stopped f2f altogether. I’d rather pass and wait for someone who is comfortable sending me a wire.

[exp90]

Are you selling above what a dealer would list at? Is there such a thing as dealers offering an escrow-like service, where they store/vault the watch, and you can complete the trade on their premises, for a cut? Have no idea if so, as never enquired - but I've seen this before with other items.

[~JJ]

Never meet at your house. In the US there are police stations that offer safe places to trade… try to find a safe third party place to do the transaction… fees are worth the safety.

[enjoythemusic]

Originally Posted by ~JJ

In the US there are police stations that offer safe places to trade.

Exactly! An honest buyer / seller would be comfortable being within a Law Enforcement building.

[L_S_SHOE]

Unless thoroughly vetted and personally known to me, I would never walk into someone’s house to buy a watch.

In America, this is a good way to get shot, stabbed, beaten, robbed, murdered, etc…


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[karleone]

You’re selling a watch at your house? Are you insane? You are asking for trouble! Check a few dealers and sell to the one that pays the best.

[aboutime]

Unsure if this is a scam, but meeting to do a transaction in your house is not a good idea, for all parties, most of all for you I would say. Given the buyer pulled out 2 hrs beforehand I imagine they already have your address?

[gamingdoctor]

I would never invite a stranger to come to my house to sell a luxury good. Giving your address plus the knowledge that you have luxury watches in your house sounds like a recipe for something to go wrong.

[BlondesNwatches]

Sounds like it could have turned really bad for you. Stay safer next time.

[0nly5iv3Digits]

The first and only place to conduct business in my mind is your local PD HQ. I'd never have someone come to my home for exactly the aforementioned reason. That's just asking for trouble imo.

[Harry-57]

Originally Posted by 0nly5iv3Digits

The first and only place to conduct business in my mind is your local PD HQ.

We can't do this in the UK. Police Stations don't offer these kind of facilities. Not that telling people where you live is ever a good idea.

[0nly5iv3Digits]

Originally Posted by Harry-57

We can't do this in the UK. Police Stations don't offer these kind of facilities. Not that telling people where you live is ever a good idea.

If that's the case, your nearest Bank branch is the next best option.

[superpop]

I have sold two Rolex watches in the past few years, a Batgirl and a Sprite. Both times I met up at my local bank and conducted the transaction there. Both times I told the buyer to meet me there with cash. Once I have the cash in hand and after I have deposited it, I will then hand over the watch for inspection and collection. That insures you have real cash, deposited into your account. I also wear the watch in and keep it separate from the box incase they try to grab the box and go. I would never give someone my home address or meet in any other public place other than maybe a police station. Even the police station is questionable as the local PD might say it is a civil matter if they push some scam. You purchased at the top, and now want out, don't risk your life for it though. Ask a fair but aggressive price to get a good buyer, not a scammer. Buy the buyer.

[2000-NJDEVILS]

Originally Posted by superpop

i have sold two rolex watches in the past few years, a batgirl and a sprite. Both times i met up at my local bank and conducted the transaction there. Both times i told the buyer to meet me there with cash. Once i have the cash in hand and after i have deposited it, i will then hand over the watch for inspection and collection. That insures you have real cash, deposited into your account. I also wear the watch in and keep it separate from the box incase they try to grab the box and go. I would never give someone my home address or meet in any other public place other than maybe a police station. Even the police station is questionable as the local pd might say it is a civil matter if they push some scam. You purchased at the top, and now want out, don't risk your life for it though. Ask a fair but aggressive price to get a good buyer, not a scammer. Buy the buyer.

outstanding advice!!!

[Bazil]

I’d never go to a strangers house .. I learnt my lesson, I took up guitar, after about 5 lessons the teachers Mum was outside, looking at me in a very suggestive way, to which he asked “would you like mother to make you a cup of tea” … hell no , I’m outer here … got home and all I could picture was waking up in his garage, orange duct taped to my mush and my brown eye hurting … stuck for days as a toy for mother … thanks, but no thanks …

[ikincooper]

In the UK it’s quite normal to sell large value items from one’s house and previous threads have always highlighted the UK-US divergence here. Think cars etc…

Whether or not my actions would prevent a scammer or not I don’t know, but I always ask for ID as part of agreeing a transaction, whether I’m the seller or buyer. Also insist on a small wire transaction ahead of time too. These 2 things will help provide certainty as to who you are actually dealing with.


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[Piker]

In USA it is usually shipped or F2F at the bank or police station. Never invite or go to someone's house for transaction of high end goods.

[Batmannr1]

Banks and Police Stations here do not offer services to facilitate the transactions.. I have sold and bought second hand Rolexes in the lobbies of renowned hotels, where there are video surveillance in place and security guards present. Always do your due diligence of your counterpart. Check the candidate within your network and look up their LinkedIn profile. Also what helps for a safe transaction, is that in my country payments can be made with an instant bank transfer. No cash needs to exchange hands.

[77T]

Originally Posted by nickpan

Should have tried on here I suppose - I'll prepare an ad now, SS Daytona 2012 black face

Your first step is to become a Pledge Member.
Good luck -


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[brandrea]

I’ve done the majority of my face to face deals at my bank or a branch of my bank in a nearby city. I’ve always felt safe doing so

Maybe I’ve been lucky, but I’ve thoroughly enjoyed every meeting I’ve done with a face to face buyer/seller.

[GGGMT]

House sale. Hilarious.


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[shaunylw]

I don’t care if they live around the corner from me, if i don’t know them, it’s FedEx overnight insured no other options.

I’ve had people say I’ll come pick it up, nope. I’ll ship it, I’ll pay to ship it, bankwire and when it clears it’s on the way.


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