If you don't trust your watch dealer, you risk buying a counterfeit, a watch with non-authentic parts, or a watch with issues like a voided warranty or even stolen watch , which can lead to expensive repairs and trouble. For selling, you may receive a lower price and face the risk of dealing with scammers or receiving a fraudulent payment.
Risks when Buying
- Counterfeit or fake watches: An
untrustworthy dealer increases the chance you'll unknowingly purchase a
fake timepiece, often with non-original parts, to make a profit.
- Warranty issues: Buying
from unverified sources, including "grey market" dealers, can
void the manufacturer's warranty. This means you may be responsible for
the full cost of repairs.
- Stolen or mis-advertised watches: The
dealer could sell you a watch with a stolen serial number or advertise a
watch they don't actually have in stock.
- Improper servicing: A
non-authorized dealer may have used inferior or non-official parts during
a previous service, compromising the watch's performance and reliability.
- Scammer: if that say Carousell
site guy has been just registered a few days or even a few months with no
trace of good comment or trade record, stay away from them.
- Through watch finder:
they are I fact dealer with good connection to the dealer, in a short
period to e time , he can tell you the price that you want to buy, before
the purchase, you can set up a deal on the finder’s fee.
Finder’s
fee is normally from 2%-10% depending price of the watch,
Risks when selling
- Receiving a low price: Dealers
who are not reputable will likely try to buy your watch for less than its
true market value, as their goal is to make a profit on resale.
- Dealing with scams: You
risk encountering scammers who might try to defraud you, for example, by
sending a bad check or switching the watch with a fake one during the
transaction.
- Stolen inventory: You
could be unknowingly buying or selling a watch from a dealer who is
involved with stolen goods, putting you at risk.
- Lack-of-transparency: A
dishonest dealer might not be transparent about the valuation process,
leaving you with a poor deal without you realizing it.
- At Certain trading site such as Carousel; :- if someone not asking for price reduction and give you the
price you want, check his trading record, likely he may be a scammer who
my take your watch by paying tricks of bank cheque or sending someone to
loot your watch, of even take your watches without payment. Many real
cases have been happened in HK.
Conclusion
There must be certain value for the middle man,
Dealer to give you buying and selling service, sometimes it is more comfortable
for selling through dealer, unless you are yourself a dealer
If you watch is a collectible item, go for middle
man first and if he can’t find the right buyer, and if you can wait, go for
auction, note that there is charges in selling your watch at auction.
- Through dealer that you know, they know the watch and because of
commission is based on your watch value, he would like to sell higher
price for you.
