Low-ball buyer tricks when purchasing
watches in Hong Kong
False Indications of Interest: Some
low-ball buyers may pretend to be highly interested in a watch and engage in
extensive discussions with the seller to create the impression that they are
serious buyers. However, their intention is to negotiate a significantly lower
price or take advantage of the seller's desperation to make a sale.
Offering Unreasonably Low Prices: Low-ball
buyers may intentionally make absurdly low offers for a watch, well below its
market value. Their strategy is to start negotiations at an extremely low
point, hoping that the seller will accept a higher price that is still lower
than the watch's true worth.
Threatening to Walk Away: Another tactic
employed by low-ball buyers is to threaten to walk away from the deal if the
seller does not agree to their desired price. This approach relies on
pressuring the seller into accepting a lower offer to avoid losing the
potential sale altogether.
Highlighting Flaws: Some low-ball buyers
may exaggerate or fabricate flaws or defects in the watch to justify a lower
price. By pointing out perceived issues, they aim to negotiate a reduced price,
even if the flaws are minimal or insignificant.
Cash Offers: Low-ball buyers might offer to
pay in cash as a way to entice sellers into accepting a lower price. The
promise of immediate payment in cash can be appealing to sellers who want a
quick sale, potentially leading them to accept a lower offer.
Low-ball buyers have been attempting to
negotiate with incredibly low counter offers, sometimes even as low as 50% of
your listed price. They are extremely particular, claiming that your Rolex
lacks papers or a white tag, despite the fact that you haven't mentioned those
details in your post. They insist that the watch is used, even though you have
already indicated its condition.
Furthermore, it is perplexing why they
would mention the watch being used again when that fact has already been
established.
Some low-ball buyers argue that their own
buyers are extremely wealthy and suggest that you should offer a larger
discount based on that. In my opinion, if their buyers are truly affluent, it
would be more reasonable for them to purchase a brand-new watch from a
boutique. It seems somewhat amusing that they are interested in buying my $20K
watch.
To protect yourself as a seller, it's
important to set a realistic price range for your watch based on its market
value and condition. Be prepared to negotiate, but also be firm about your
bottom line. Trust your judgment and don't feel pressured to accept an offer
that you're not comfortable with. Consider seeking advice from experienced
watch sellers or appraisers to ensure you're pricing your watch appropriately.
Remarks I found a funny one, please check
yourself above.
HK Snob
