Watchcollecting.com??

[Ctam]

Hi all,

Has anyone here had experience of using watchcollecting.com?

https://www.watchcollecting.com/?ref...5D=live&page=1

They seems to be a U.K. based watch completely on-line auction site. (They are the people behind car collecting.com) Sellout pays no fees but buyer pays a premium (as per most auctions). They say the seller and their watch is vetted for fakes, etc. Once the auction is over, the company takes the premium (non-refundable) and then the seller is introduced to the buyer digitally and have to handle the rest.

Has anyone used it? I feel I can trust The website and platform but it offers no protection to the buyer? The platform does not offer an escrow service like Chrono24, and seems to wash it hands clean after the auction.

Would be grateful for thoughts.

BW,
Chi Kai


Sent from my iPhone using Tapatalk

[TKH]

https://forum.tz-uk.com/showthread.p...up-and-running

&
https://collectingcars.com/

[Ctam]

Thanks. I just realised that there are a couple of threads about this! Whoops!

I guess I am also asking thoughts from anyone who have used them?

Thank you,
Chi Kai


Sent from my iPhone using Tapatalk

[Ctam]

I assume the successful buyer pays the seller directly (and for an individual, it can only be cash transfer as opposed to a credit card), rather then pay the platform??

This offers the buyer no protection at all! And the premium seems to me to pay for literally nothing for the buyer.

Or am I wrong? Perhaps someone who has used this platform can tell me more.

I have also asked the same question to the platform and awaiting an answer.

BW,
Chi Kai


Sent from my iPhone using Tapatalk

[Kamakazie!]

I assume the successful buyer pays the seller directly (and for an individual, it can only be cash transfer as opposed to a credit card), rather then pay the platform??

This offers the buyer no protection at all! And the premium seems to me to pay for literally nothing for the buyer.

Or am I wrong? Perhaps someone who has used this platform can tell me more.

I have also asked the same question to the platform and awaiting an answer.

BW,
Chi Kai


Sent from my iPhone using Tapatalk

Unlikely anyone here will have used them yet as they've only sold about 15 watches.
As far as I know, what you said is correct. Almost all benefit of the platform are for the seller. As a buyer an auction house provides much more security and effectively you would account for the higher fees in your offer.

[Ctam]

Unlikely anyone here will have used them yet as they've only sold about 15 watches.
As far as I know, what you said is correct. Almost all benefit of the platform are for the seller. As a buyer an auction house provides much more security and effectively you would account for the higher fees in your offer.

Thanks. I just can’t imagine why any buyer would feel safe using it! You don’t even have credit card protection for the purchase cost.


Sent from my iPhone using Tapatalk

[Kamakazie!]

Thanks. I just can’t imagine why any buyer would feel safe using it! You don’t even have credit card protection for the purchase cost.


Sent from my iPhone using Tapatalk

Tough call. I'd rather buy somewhere else but for the right price would offer on there. Particularly after lockdown when F2F is available.

[Mick P]

Tough call. I'd rather buy somewhere else but for the right price would offer on there. Particularly after lockdown when F2F is available.

I agree that the arrangements rest firmly with the Seller and there is a lot of trust being placed on the shoulders of the Buyer.

However these arrangements are in the full gaze of the watch buying fraternity and if any Buyer is seen to be treated unfairly, the word will quickly spread and no one will use their services. It is in Watchcollectings interest to ensure that the system is operated fairly.

[Tatters]

In this day and age, with all the scams out there, many on the internet, it is very naive for any web site to rely on honesty and reputation when their users’ money is at stake.

[Ctam]

In this day and age, with all the scams out there, many on the internet, it is very naive for any web site to rely on honesty and reputation when their users’ money is at stake.

I would be inclined to agree. Especially when you consider the large sums involved with watch transactions and the abundance of fakes. Much easier to fake a watch than a car!


Sent from my iPhone using Tapatalk

[scootnfast]

Seems like a good idea as it’s free for the sellers and the 6% buyers premium seems reasonable also.