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#1 |
"TRF" Member
Join Date: Mar 2008
Location: Dallas, TX
Posts: 831
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Another one...just today.
Early this morning I received an email from a potential buyer in CA wanting to buy the Milguass.
An hour later he called...his condition was for me to overnight the watch immediately as soon as his wire transfer appeared in my account. The watch was needed for his Friday Las Vegas watch show. With past experience in bank EFT, knowing EFT funds would not be avail until next business day though transaction posted as "pending" on same day. Told the buyer but he insisted this was incorrect and should go on with the deal. I even offered have watch shipped to a Las Vegas address of his choice. but deal was off... Later I had my source ran a trace on his name and business address, all returned negative. Watch out for this type of transaction...EFT could easily be retracted once buyer know the merchandise has been shipped. Bottom line...Don't ship anything until money is in your possession. TIA |
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#2 |
2024 ROLEX DATEJUST41 Pledge Member
Join Date: Feb 2007
Location: Japan
Watch: ing your back.
Posts: 16,179
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EFT?
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#3 |
"TRF" Member
Join Date: Mar 2008
Location: Dallas, TX
Posts: 831
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#4 |
"TRF" Member
Join Date: Jan 2008
Real Name: Kurt
Location: Philly Burbs!!
Posts: 3,296
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Need to add that one to the list now.....
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__________________
“This is your last chance. After this, there is no turning back. You take the BLUE pill - the story ends; you wake up in your bed and believe whatever you want to believe. You take the RED pill - you stay in Wonderland, and I show you how deep the rabbit hole goes.” Rolex Submariner 116610LV Hulk | Rolex GMT 16710 Pepsi | Omega Speedmaster “Speedy Tuesday” | Tudor Black Bay 79220R “ETA Rose” | Tudor Pelagos Blue Dial | Rolex Submariner Yellow Gold 116618LB | Rolex Milgauss “Z-Blue” 116400GV |
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#5 |
"TRF" Member
Join Date: Dec 2007
Real Name: David
Location: USA
Watch: your step!
Posts: 7,882
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It's a scary world out there...
__________________
Rolex. The Rolex of watches. 16570 Expy2 Noir, 116710 GMT Master II, 2552.80 SMP |
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#6 |
"TRF" Member
Join Date: Dec 2007
Location: Melbourne, AU
Watch: Pepsi
Posts: 4,370
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yup, "pending" can be reversed.
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#7 |
Banned
Join Date: Dec 2007
Real Name: steven
Location: tampa bay
Watch: 1680 18k sub
Posts: 6,672
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always wait until money cleard!!!!!!
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#8 |
"TRF" Member
Join Date: Feb 2007
Real Name: Brandon
Location: FL
Watch: ing my second hand
Posts: 869
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Is EFT different from a wire transfer? Because I thought a wire transfer couldn't be recalled once done?
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#9 |
"TRF" Member
Join Date: Nov 2007
Real Name: Chris
Location: Camden ME & STT
Watch: 116600
Posts: 6,350
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I'm in the high end rare coin biz, single coins $10,000-$100,000 range. I have a "wash" account that I have buyers wire/eft/ach-whatever into. When the money is there, I withdraw it immediately and put it in another bank account. That way, no matter what they try, there's just nothing there to get back.
The account costs very little and is just a minor hassle to use.
__________________
Rolex 116600 Sea-dweller Montblanc Solitaire Doué Black & White Legrand FP Montblanc Solitaire Doué Black & White RB Montblanc Meisterstück Diamond Mozart BP Montblanc Meisterstück Mozart BP |
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#10 |
Member
Join Date: Jan 2008
Real Name: Nas
Location: Singapore
Watch: GMT II
Posts: 230
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#11 |
Member
Join Date: Mar 2008
Location: Los Angeles
Posts: 16
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Any recommended trusted companies online to buy from?
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#12 |
Member
Join Date: Jan 2008
Location: Big D
Posts: 132
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WTF- Scammers
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#13 |
"TRF" Member
Join Date: Sep 2007
Real Name: Howard
Location: Chandler, AZ
Watch: Omega SMP300
Posts: 458
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I recently sold a watch and asked my banker about wire transfers, direct deposits, etc. The only way that money is available immediately is if the person deposits cash directly to your account. This can be done by providing the person with your name, state and bank. For example I use Bank of America. The buyer could go to a branch of BA, ask to deposit cash to my account (name and state only necessary ID). Then I can call the bank and they will confirm cash was dposited. At that point the buyer can only get the money back from me. Wire transfers are pending for at least 24 hours. We all hopefully know that cashier checks and money orders can be faked, and you would not know for several days.
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#14 |
"TRF" Member
Join Date: Mar 2008
Real Name: Tim
Location: Calgary
Posts: 1,117
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People are truly amazing aren't they (both good and bad) *shakes his head*
__________________
Daytona 116520 |
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#15 |
"TRF" Member
Join Date: Nov 2007
Location: madison, wi
Posts: 117
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Thank for sharing!
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#16 |
"TRF" Member
Join Date: Jan 2008
Real Name: Bob
Location: Dallas, Texas
Watch: Daytona Meteorite
Posts: 3,417
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this is incredibly scary and helpful. i didnt realize the lengths these experienced people will go to. but if you know what to look for, you can take precautions.
thank you very much for the advice.
__________________
meteor flying to Earth onto my wrist... 116509 Daytona Meteorite, 116520 Daytona Black, 116710 GMTIIC, 16013 DATEJUST, CARTIER SANTOS 100 W20090X8, IWC Big Pilot, IWC Top Gun "Everything works out in the end. If it hasn't worked out, it's not the end." |
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#17 |
"TRF" Member
Join Date: Mar 2008
Location: Dallas, TX
Posts: 831
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One more thing...
Check buyer's references...not just seller. |
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#18 |
"TRF" Member
Join Date: Jan 2007
Real Name: Steve
Location: The O.C.
Watch: DD 40
Posts: 445
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Just to be safe I always wait 48 hours after a wire transfer to ship anything and then ONLY if I have the ability to pull the money out of my account. I also use a very extra checking account I set up just for these types of situations. Once it is there I transfer it out into another account and then I ship the item.
K4S |
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