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Thread: A question about Chrono24 ( or two)

  1. #1

    A question about Chrono24 ( or two)

    I have been asked to sell a watch to a gent in the USA, not a forum member and we know nothing about each other , so need to be diligent in how we go about the process. Quite rightly, he doesn't want to pay me for the thing before it arrives there and equally, I don't want to send it off , not knowing whether I will be paid or not ($3,000 )
    He has suggested using Chrono24, who I am aware of but never used, I suppose I can list it for sale, he can buy it and Chrono24 retain the funds until they are happy to release such. Seem a bit like e-bay used to work in the old days but wondered whether anyone sees any obvious flaws in this approach ? Would be grateful for any insights . Thanks in advance.

  2. #2
    Craftsman
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    Quote Originally Posted by notnowkato View Post
    I have been asked to sell a watch to a gent in the USA, not a forum member and we know nothing about each other , so need to be diligent in how we go about the process. Quite rightly, he doesn't want to pay me for the thing before it arrives there and equally, I don't want to send it off , not knowing whether I will be paid or not ($3,000 )
    He has suggested using Chrono24, who I am aware of but never used, I suppose I can list it for sale, he can buy it and Chrono24 retain the funds until they are happy to release such. Seem a bit like e-bay used to work in the old days but wondered whether anyone sees any obvious flaws in this approach ? Would be grateful for any insights . Thanks in advance.
    Keep in mind that if you sell/pay using Chrono24, you will have to pay a sales-fee which will be deducted from the payout to yourself.

  3. #3
    Quote Originally Posted by manriki View Post
    Keep in mind that if you sell/pay using Chrono24, you will have to pay a sales-fee which will be deducted from the payout to yourself.
    Yes, they charge 6.5% which my buyer will cover, which doesn't seem extortionate, given the logistical issues.

  4. #4
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    Chrono24 was deliberately set up for exactly this situation - how can you safely sell an expensive item when buyer and seller have never met and have no reason to trust each other? Well, they don’t have to, instead they put their trust in Chrono24 as the honest broker for the deal. The buyer’s money will be put into escrow by C24 and won’t be released to you until the buyer confirms delivery of the watch as advertised. On your side as the seller, you do not post the item until C24 confirms the money is in their escrow account, so as long as the watch is delivered, you will be paid.

    I have successfully sold one watch and bought one watch via C24. Their customer services are helpful too. They are cheaper than eBay too, who normally take a 10% cut.

  5. #5
    Quote Originally Posted by Tatters View Post
    Chrono24 was deliberately set up for exactly this situation - how can you safely sell an expensive item when buyer and seller have never met and have no reason to trust each other? Well, they donít have to, instead they put their trust in Chrono24 as the honest broker for the deal. The buyerís money will be put into escrow by C24 and wonít be released to you until the buyer confirms delivery of the watch as advertised. On your side as the seller, you do not post the item until C24 confirms the money is in their escrow account, so as long as the watch is delivered, you will be paid.

    I have successfully sold one watch and bought one watch via C24. Their customer services are helpful too. They are cheaper than eBay too, who normally take a 10% cut.
    Thanks for that reference.

  6. #6
    Journeyman
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    Just one other thing to bear in mind as a private seller is that Chrono24 makes it relatively easy for buyers to return a watch if they are not satisfied.

  7. #7
    Grand Master Wallasey Runner's Avatar
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    I have bought and it was an easy process. Your buyer will have to pay before seeing the Watch, but it will be placed in an escrow account and you instructed to send the watch to him. Once received he has to confirm that he is happy with the transaction before the funds are released to you. It is safe for both buyer and seller.

  8. #8
    Quote Originally Posted by Wallasey Runner View Post
    I have bought and it was an easy process. Your buyer will have to pay before seeing the Watch, but it will be placed in an escrow account and you instructed to send the watch to him. Once received he has to confirm that he is happy with the transaction before the funds are released to you. It is safe for both buyer and seller.
    That's what I thought, thanks for the comment. I will have to ask Chrono 24 how the post the ad so the purchaser is first to see it , he doesn't want it going anywhere else !!

  9. #9
    Quote Originally Posted by notnowkato View Post
    That's what I thought, thanks for the comment. I will have to ask Chrono 24 how the post the ad so the purchaser is first to see it , he doesn't want it going anywhere else !!
    You could overprice it so it would put other's off but he makes you the offer you've both agreed to and accept it.

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  10. #10
    Grand Master jwg663's Avatar
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    It's not an auction. You can sell to whomever you wish.
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  11. #11
    Grand Master Wallasey Runner's Avatar
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    Quote Originally Posted by notnowkato View Post
    That's what I thought, thanks for the comment. I will have to ask Chrono 24 how the post the ad so the purchaser is first to see it , he doesn't want it going anywhere else !!
    It's not an issue, even if three people contact you, you pick who to sell it to - it's not like a buy it now on e-bay. Obviously give your buyer a heads up when you are listing it.

  12. #12
    Quote Originally Posted by Wallasey Runner View Post
    It's not an issue, even if three people contact you, you pick who to sell it to - it's not like a buy it now on e-bay. Obviously give your buyer a heads up when you are listing it.
    Great, that clears that up. Thanks

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  13. #13
    Bit of a Hijack, Iíve been thinking of listing something I have on SC but what has put me off is they say you canít sell elsewhere during the 3 month listing, anyone know if they do any checks?

  14. #14
    Apprentice the_gazelle's Avatar
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    Quote Originally Posted by TBKBABAB View Post
    Bit of a Hijack, Iíve been thinking of listing something I have on SC but what has put me off is they say you canít sell elsewhere during the 3 month listing, anyone know if they do any checks?
    They do check. If you withdraw it from sale on Chrono24 they ask you to send a photo of the watch set to a certain time, to confirm that you still have it! If you canít they will charge you the selling fee, although Iím not sure how they would collect that off you at that point. Presumably they could, in theory, take you to court as you sign an agreement.

  15. #15
    Apprentice the_gazelle's Avatar
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    Quote Originally Posted by notnowkato View Post
    Great, that clears that up. Thanks

    Sent from my SM-N975F using Tapatalk
    Another positive experience from me here too. I sold a JLC and was very nervous about doing it but it went like a dream. I just had to wait for about 7 working days from buyer receiving watch to funds being released. I think that they can confirm that all is ok earlier if they choose, but my buyer didnít, and I didnít want to push them either.

  16. #16
    Quote Originally Posted by the_gazelle View Post
    They do check. If you withdraw it from sale on Chrono24 they ask you to send a photo of the watch set to a certain time, to confirm that you still have it! If you canít they will charge you the selling fee, although Iím not sure how they would collect that off you at that point. Presumably they could, in theory, take you to court as you sign an agreement.
    Thanks Iíll hold off for the time-being then.


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  17. #17

    A question about Chrono24 ( or two)

    I bought a few watches through C24, and sold a watch for the first time there a week or so ago, and it was a good experience. Mind you, I was a bit nervous posting out a £9k watch to a stranger, even if the funds were ready to be released into my account. What if the buyer receives it and damages it, or returns it not in its original condition? I took very careful videos of the watch, and of me packaging it, just in case. I also made sure I posted it using a good courier, fully insured and signed for. In the end it took just a few hours since receiving the watch for the buyer to approve the release of funds into my account. So it was a good experience. But a little nerve-racking nonetheless.

    By the way, people often get around the photo evidence that is requested if you sell the watch elsewhere, by asking the actual buyer to take a picture for them if needed.
    Last edited by o u t a t i m e; 9th May 2021 at 19:24.

  18. #18
    Quote Originally Posted by o u t a t i m e View Post

    By the way, people often get around the photo evidence that is requested if you sell the watch elsewhere, by asking the actual buyer to take a picture for them if needed.
    Had crossed my mind that if it sold on here the buyer would probably be happy to do that.

    I have bought from Chrono24 both from a private seller and dealers and was all very smooth.

  19. #19
    Master
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    Wouldn't using PayPal protect both seller and buyer?

  20. #20
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    I think Paypal would be a terrible idea. The buyer would have to give the seller the money first, before the seller posted the watch. So the buyer would have to trust that the seller would actually send the watch. Or the seller would have to send the watch first, and trust the buyer would pay for it once they received it. Why would buyer or seller trust the other party, someone they have never met and know very little about?

    Sales corner here requires you have 250 posts before selling in order that you have some level of reputation in the forum community, as some measure of your trustworthiness. You are not just some nomark who has popped up out of nowhere. And if you do act in bad faith, then you may be outed as a villain.

    Chrono24ís approach does not require any trust in the buyer or seller, instead you place your trust in Chrono24, and their reputation, which, in my experience, is pretty damn good.

  21. #21
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    You have full protection as a buyer through PayPal G&S though? Just make sure the shipment is insured well.

    I've bought a watch through PayPal with no issues.

  22. #22
    Quote Originally Posted by Tatters View Post
    I think Paypal would be a terrible idea. The buyer would have to give the seller the money first, before the seller posted the watch. So the buyer would have to trust that the seller would actually send the watch. Or the seller would have to send the watch first, and trust the buyer would pay for it once they received it. Why would buyer or seller trust the other party, someone they have never met and know very little about?

    Sales corner here requires you have 250 posts before selling in order that you have some level of reputation in the forum community, as some measure of your trustworthiness. You are not just some nomark who has popped up out of nowhere. And if you do act in bad faith, then you may be outed as a villain.

    Chrono24ís approach does not require any trust in the buyer or seller, instead you place your trust in Chrono24, and their reputation, which, in my experience, is pretty damn good.
    Thanks for that, I am convinced, having called them, that they are the channel to use.

  23. #23
    Master Onelasttime's Avatar
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    Thereís still nothing stopping them rejecting the watch and sending back a dud.

    Plus all the customs malarkey to get it back to the UK.

    I couldnít be bothered to be honest.

    Will it not sell in the UK?

  24. #24
    Master
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    A question about Chrono24 ( or two)

    I did a UK/USA transaction a while back (I was the buyer).

    FWIW, I think common sense and due diligence are far more valuable and important than any convoluted escrow system.

    Exchange personal details, send some ID copies, check him out professionally (does he have an online presence, a professional page, etc), share past feedback, and get yourselves comfortable that youíre both genuine, well-intentioned people.

    If you can do that go ahead and deal however you like. If not, I wouldnít deal via any system or platform. In any event I certainly wouldnít post a watch before receiving the funds.

    I wired a stranger £5k with no escrow or backup after the above process and a few phone calls, and lo and behold my watch turned up the next day (at a friendís house in the US).


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  25. #25
    Not sure Iíd want to be sending some random person my personal details and Copy of ID.

  26. #26
    Master
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    Quote Originally Posted by TBKBABAB View Post
    Not sure Iíd want to be sending some random person my personal details and Copy of ID.
    Like I said, use your common sense. Donít just forward things to a complete stranger, obviously.

    Youíre a big boy, use your brain.


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  27. #27
    Quote Originally Posted by ddm27 View Post
    Like I said, use your common sense. Donít just forward things to a complete stranger, obviously.

    Youíre a big boy, use your brain.


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    My brain says donít do it.

  28. #28
    Well Chrono24 have been useless in this attempted transaction, despite my buyer's attempts , they have been unable to take his payment , despite trying 4 different methods, so , a different approach will be needed.

  29. #29
    Grand Master Wallasey Runner's Avatar
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    e-bay as a last resort. List the item today under the £3 fee deal and list as auction with an offer facility. Your man will still have to pay up front, but will have e-bay buyers protection.

    If anyone bids and messes things up, you can always cancel their bids, tell your man to make an offer of the agreed price and then accept.

  30. #30
    Grand Master
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    I know this is probably an odd question, but on what planet does someone refuse to pay for a strangers watch before they've received it?
    Dealers would tell customers making the same demand to take a hike, so how is a private professional transaction weighted in this way?

    I understand that youre trying to work with ch24 as they have escrow, but isnt refusing to pay until received a bit of an odd request?
    TBH it would put my radar up.

    Ive done it on TZ to mates, but this is entirely different it seems.

  31. #31
    Master
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    Quote Originally Posted by Tatters View Post
    I think Paypal would be a terrible idea. The buyer would have to give the seller the money first, before the seller posted the watch. So the buyer would have to trust that the seller would actually send the watch. Or the seller would have to send the watch first, and trust the buyer would pay for it once they received it. Why would buyer or seller trust the other party, someone they have never met and know very little about?

    Sales corner here requires you have 250 posts before selling in order that you have some level of reputation in the forum community, as some measure of your trustworthiness. You are not just some nomark who has popped up out of nowhere. And if you do act in bad faith, then you may be outed as a villain.

    Chrono24ís approach does not require any trust in the buyer or seller, instead you place your trust in Chrono24, and their reputation, which, in my experience, is pretty damn good.
    If the buyer doesn't receive the goods they would get their money back.

    No trust necessary as you have PayPal buyer or seller protection.

    So, what's wrong with PayPal???

  32. #32
    How is he trying to pay, Chrono24 accept Visa, MasterCard, Amex or BT, have you agreed a price in £ or USD?

  33. #33
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    Quote Originally Posted by notnowkato View Post
    Well Chrono24 have been useless in this attempted transaction, despite my buyer's attempts , they have been unable to take his payment , despite trying 4 different methods, so , a different approach will be needed.
    This is very suspicious. I would not trust a buyer who could not pay using the mainstream methods supported by Chrono24. Scammers will often claim that they tried to pay but were blocked for some reason, so could they pay by some other method, please? For example, they want to pay by bank transfer. If you agree, the money appears in your account, so you put the item in the post to them. Then they reverse the payment, the money disappears from your account, and you are left with no money, and no watch.

    If it were me, I would walk away from the deal.

  34. #34
    Quote Originally Posted by Tatters View Post
    This is very suspicious. I would not trust a buyer who could not pay using the mainstream methods supported by Chrono24. Scammers will often claim that they tried to pay but were blocked for some reason, so could they pay by some other method, please? For example, they want to pay by bank transfer. If you agree, the money appears in your account, so you put the item in the post to them. Then they reverse the payment, the money disappears from your account, and you are left with no money, and no watch.

    If it were me, I would walk away from the deal.
    Well, you say that. The alternative method he suggested was to send me the amount by PayPal and trust me to send the watch. He did and I did, so, happy resolution. I am surprised, I know I'm an entirely dependable sort of chap but don't expect someone the other side of the world to know this. Second time this sort of thing has happened and am charmed that a back and forth via e mail, messenger, or whatever, can put folk at their ease. Chrono24 have accepted his withdrawing from the contract, it maybe his being currently situated in a bit of a war torn part of the globe has caused problems, no idea.

    Sent from my SM-N975F using Tapatalk

  35. #35
    Quote Originally Posted by Tatters View Post
    This is very suspicious. I would not trust a buyer who could not pay using the mainstream methods supported by Chrono24. Scammers will often claim that they tried to pay but were blocked for some reason, so could they pay by some other method, please? For example, they want to pay by bank transfer. If you agree, the money appears in your account, so you put the item in the post to them. Then they reverse the payment, the money disappears from your account, and you are left with no money, and no watch.

    If it were me, I would walk away from the deal.
    If itís a standard BT faster payment it canít be reversed without youíre agreement. Not sure how you stand with an overseas
    BT.

  36. #36
    Master Onelasttime's Avatar
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    Quote Originally Posted by notnowkato View Post
    Chrono24 have accepted his withdrawing from the contract, it maybe his being currently situated in a bit of a war torn part of the globe has caused problems, no idea.

    Sent from my SM-N975F using Tapatalk
    I thought he was in the US?

  37. #37
    Quote Originally Posted by Onelasttime View Post
    I thought he was in the US?
    That's where he lives but "working away from home". Glad I'm not.

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  38. #38
    Apprentice the_gazelle's Avatar
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    Quote Originally Posted by notnowkato View Post
    "working away from home".
    I hope Iím wrong but that would worry me. Isnít that something that scammers sometimes say? It would set alarm bells ringing for me.
    As I say though, hopefully it works out ok.

  39. #39
    Makes me smile when people here ask "where are you based?".

    Is everyone in the army (or a travelling salesman)?

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