High End Watches and Loupe Troop?

[Red_Velvette]

Hi,

My fiancee has a very nice watch collection, and he wants to sell some of them. I have told him about Loupe Troop, and he is interested in that, but I have a question. On IdonowIdont, the payment is put into an escrow account until a gemologist authenticates that the merchandise being sold is what the seller says it is. Is there a way to set something like that up using Loupe Troop or some other site? We want to protect ourselves and our buyers.

What would you suggest?

Thanks for any direction you can give me!

 

[JDDN]

I know most use Paypal to collect payment. What about having the watch sent to an appraiser near the buyer to authenticate the watch. If the potential buyer accepts, then they can pay via Paypal and once payment has gone through the appraiser can release the watch to the buyer. I know another PS'er did something similar. The buyer got to inspect the piece of jewelry with the appraiser and then once she was satisfied she made payment. In that case it was direct deposit I think, but that's not the norm as far as payment goes.

 

[Red_Velvette]

Ok, well that's a good idea. Would the cost of the appraiser be split by both buyer and seller, or would the seller just work that into the price? Thanks!

 

[JDDN]

If I recall correctly, the cost of the appraisal was paid by the seller in the event that the potential buyer purchased the piece. If the potential buyer declined, he/she paid the appraiser. I think that's what was done, however, you could do it any way you choose. I think doing it the above way weeds out buyers who aren't very serious.

 

[Dancing Fire]

IMO, Timezone.com would be a better choice for selling high end watches...

 

[diamondseeker2006]

DF is a watch expert, so he is probably giving you the best location to sell the watches.

But for future reference, Neil Beaty and possibly other known appraisers here do that service. I have used it to buy something of higher value. The item was sent to him by the seller (seller pays shipping to appraiser and found satisfactory. Neil actually works for the buyer in this situation and I was the one paying for the appraisal to be sure the item met with my approval. He offers escrow service, but I trusted the seller and wired the money, then when received, he told Neil to release the item to me, then Neil sends the item to me. The cost for the appraisal, insurance, and insured shipping to the buyer may vary on what you need done and the insurance value, but my cost would be well under $200.

 

[Red_Velvette]

First, thank you all for your help.

I was corrected and told these are not high end watches, these are vintage watches. Would you have different advice for me now?