Sellers beware. Interesting video

[Ricky Rolex]

This guy is does some really good videos.

Anyone selling a watch should take note of the following.

https://youtu.be/AwzeJKgTSGs

Follow up video talking to the bank:

https://youtu.be/clrnXwqoqRo


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[johnnyjazz]

I think this guy,s son was done for selling £600,000 worth of hookey Rolex watches.

[delboylee]

This guy seems to around a lot on YouTube.

Some of his videos are interesting but he does go on a bit

[daOnlyBG]

Originally Posted by delboylee

This guy seems to around a lot on YouTube.

Some of his videos are interesting but he does go on a bit

Yeah I got mixed feelings about him. Some of his videos are filled with far-fetched, um, "stuff"... and others (like the one in this thread) are actually useful.

[Yzord]

I follow the guy for a while now and yes, it takes sometimes ages before he gets to the point. Also there are moments i think he is under influance of something.

He has some good point, that's for sure, but the way he cuts his movies all the time is pretty annoying at some point.

[schoolboy]

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[dxbtousa]

Interesting indeed - very worth nothing though .

[StackLexus17]

What a lowlife POS would do this....SMH.

[Macnavara]

Originally Posted by johnnyjazz

I think this guy,s son was done for selling £600,000 worth of hookey Rolex watches.

It was his brother ...I think

[myporsche]

Anyone want to paraphrase what the scam is? Don't feel like watching a long video of him. Are they just reversing or disputing wire transfers?

[Yzord]

Originally Posted by myporsche

Anyone want to paraphrase what the scam is? Don't feel like watching a long video of him. Are they just reversing or disputing wire transfers?

They can dispute a transfer the same day before 5PM.

[mactruck]

I particularly like when he revealed that police won't investigate fraud under 20k pounds.

Giving fraudsters a License to steal.

[Ricky Rolex]

Originally Posted by myporsche

Anyone want to paraphrase what the scam is? Don't feel like watching a long video of him. Are they just reversing or disputing wire transfers?

Sounds like they set up a DD / standing order type thing with for example £10,000 which appears as cleared funds in your account.

They do it early morning usually so they have plenty of time to get the seller to send the watch that day but the scammer up until 5pm can cancel it and get funds returned.

Obviously the simple thing would be to tell people I will send once 24hrs has elapsed but not everyone is as wise or distrusting as me

In the second video the bank is basically saying tough luck if it happens and it isn't technically a crime. Also people putting the Ref number as 'Cleared Funds' further confusing the poor seller.

[sillo]

Originally Posted by Ricky Rolex

Obviously the simple thing would be to tell people I will send once 24hrs has elapsed but not everyone is as wise or distrusting as me

Don't most sellers wait until the funds clear anyway? Anybody I've wired money to for a purchase waited for the funds to clear before shipping me the watch.

[zengineer]

Originally Posted by Yzord

They can dispute a transfer the same day before 5PM.

Or maybe midnight..he doesn't really know.

The video could have been 45 seconds long.

Be careful with wire transfers, wait to ship the next day. The police won't be much help if it's not tens of thousands of dollars or pounds or something.

I hate watching any video being made while a person drives. It's one step less bad than texting and driving and results in some of the worst content on the internet. Stay home for one minute and do a video that gets to the point. He made it 10 minutes because that's how far it was to wherever the hell he was driving.

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[drtii]

Originally Posted by sillo38

Don't most sellers wait until the funds clear anyway? Anybody I've wired money to for a purchase waited for the funds to clear before shipping me the watch.

Yeah, they do. I wouldn't ship without 24hrs elapsing on wires. And videos like this certainly aren't helping people. It may bring to light that this is happening, but at the same time spreading the ability to do so.

It's easy enough to wait until funds clear before shipping.

One interesting thing, which maybe someone can expand on, what about dealing with UK/EU from US? Are there typically customs issues? More fraud? How does VAT come into play?

I'm curious because by default I only work with US sellers/buyers, but I've had a lot of interest from the UK for my watches and the risk seems to outweigh the rewards.

Any insight would be helpful.

[steeevvvooo]

He's not talking about wire transfers. He said "direct debit or standing orders" but admits he doesn't know the difference.

My understanding is that he is referring to standing orders which are set up to make recurring payments in the UK and will show as a credit just like a wire transfer in the recipients bank. He says these can be reversed later in the day once the seller has shipped the watch (I'm not 100% sure of the details there though).

Not relevant to US sellers I imagine. Seems a UK specific problem to me.

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[vipereaper30]

Wires can't be reversed without consent of the recipient. So much misinformation in this thread causing unnecessary fear and concern.

[Ricky Rolex]

Originally Posted by vipereaper30

Wires can't be reversed without consent of the recipient. So much misinformation in this thread causing unnecessary fear and concern.

Watch the video. It's quite clear on there. I'm sure he's not lying

[steeevvvooo]

I'm pretty sure he is NOT talking about wires as you know them in the US. See my post above...

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[myporsche]

Originally Posted by Yzord

They can dispute a transfer the same day before 5PM.

Originally Posted by Ricky Rolex

Sounds like they set up a DD / standing order type thing with for example £10,000 which appears as cleared funds in your account.

They do it early morning usually so they have plenty of time to get the seller to send the watch that day but the scammer up until 5pm can cancel it and get funds returned.

Obviously the simple thing would be to tell people I will send once 24hrs has elapsed but not everyone is as wise or distrusting as me

In the second video the bank is basically saying tough luck if it happens and it isn't technically a crime. Also people putting the Ref number as 'Cleared Funds' further confusing the poor seller.

Thanks

Seems like a shady scam but this has always been a risk with wires. Wait 24 hours and get to know your seller well. Have a nice conversation with them on the phone, if they are a legit seller there should be no issues with that. It won't prevent everything but most scammers get weeded out easily when you press them.

[vipereaper30]

Originally Posted by Ricky Rolex

Watch the video. It's quite clear on there. I'm sure he's not lying

Right on, I forgot we live in a time where some get their information from sources like social media and YouTube. I'm not interested in watching that video so I have no idea what kind of transfers he is referring to. But all those in this thread who keep suggesting that a wire transfer can be reversed without the consent of the recipient are incorrect.

[vintagetudor]

not sure of the family connection, but a 33 year old with the same surname was prosecuted for selling £660,000 worth of fake Rolex watches, dials, warranty booklets etc. He was found guilty and received a 12 month suspended sentence and ordered to pay £28,000 back through proceeds of crime act if not he would have to serve 9 months in prison immediately.
Not sure of the outcome, in court he was said to have no assets and none of the money was recovered. Who says crime doesn't pay?

[jvmartin]

The answer to most scams is wait minimum 48 hours to ship... most scammers are banking on that same day window... anyone who absolutely positively needs a watch overnight is more than likely a scammer... make it clear up front that you will not ship until wire is cleared and verified and let them know this can take up to 48-72 hours... most scammers will buzz off as they are looking for easy bait...

I have sold to several 0 feedback buyers here on TRF without issue but I make it clear that they will not be getting their watch overnight and I ask for text messages with copies of the wire receipt in addition to the extended shipping window... I also wait for the wire to clear with wire details attached (including the words "wire transfer" in the details).... I have also turned down several deals from buyers who were in a rush to buy...