The Biggest Pitfall I Discovered Selling My Luxury Watch On Chrono 24! I’d Never Do It Again!

[@Akj6zmdteuxze]

As some one who bought a broken watch before, I believe this is the right direction to give more power to the genuine and honest buyer. However, I can also see why some dishonest ppl may abuse that. So it’s for them to find the right balance eventually

[@leeharding8306]

Watch finder are bigger crooks. They are offering insulting prices for watches they sell for thousands more 🤦🏻‍♂️

[@navboi12]

They offer so little that they're able to provide buyers with 24 month warranty.

[@Akj6zmdteuxze]

I dun think so . This is the real watch market for u, watch is never good investment . The “transaction fee” is usually in the 10-15 % before covid and has never changed just that people who joined this watch craze believe otherwise. In a normal period, the watch u sold would be sitting in the display for months before someone buys it so dealer has a risk as well

[@atthelord]

@@navboi12 They’re not independent. They’re literally owned by Richemont.

[@Weakeyedominant]

I'd love to know who trades watches into them. I remember them offering me 3,500 for a white op 39 when they only had one listed and sold very quickly for 9k in 2020. Needless to say I still own it.

[@mikelewis2456]

eBay took 15% cut when I sold my watch. Payment period was around 7 business days. 15% cut in my opinion is ridiculous.🤬

[@BrendanBoswell]

I was done at eBay years ago! Listed a bike with a minimum sell and I hadn’t seen that it would cost me an immediate additional fee for sale minimum price, and if the product hadn’t sold, the fee would still stand. As the money was taken immediately!

[@AnotherDaveInParadise]

eBay is 12.8% up to £5000, then 3% for anything above. If you’re using them, always wait for the 80% off final value fees offer that usually comes around every 2 weeks. I sold a Rolex for £6k in the summer and fees were £130.

[@Weakeyedominant]

​@@AnotherDaveInParadiseI'll need to keep that in mind.

[@bandoncaddie5507]

I've sold about ten high end watches on Chrono24. When shipped, I provide Chrono24 the tracking details. I have always received payment within two days of the watch being delivered. Always. Not certain why their holding Brendan's money longer.

[@BrendanBoswell]

I did say I used a dealer, but honestly I had no idea about the 14 to 16 day wait!

[@Dalf80s]

Depends where you ship to.

[@Mark..P]

If you are a private seller, the buyer can’t send the watch back. But, the money is held in escrow to see if it is genuine or not. From a buyers perspective it is safe. From a sellers perspective you have to trust the buyer is honest. I agree with you on this occasion Brendan 🤣 I would not sell on Chrono because as a seller you are not protected

[@desireless4092]

Yes, true. This is why I sell them myself as private seller. The moment buyer confirms the watch is in his possession I get the money within 24 to 48h at most. I don't do this consignment shit.

[@ntag411]

That's largely true with any plateform, the buyer has protections. The reason, realise it or not, luxury watches are a high risk item.

[@benjaminfrank_]

It’s to protect buyer they can change their mind within 14 days… if your desperate to get the money in 2 weeks then you need to get a higher paying job… if I buy a watch I want time to see if I actually want it and time to take it to Rolex to see if it’s authentic and Rolex can take days to authenticate it.

[@BrendanBoswell]

Don’t get personal with me! My job is not your concern! Glad you take the time to authenticate a watch after purchasing it!

[@benjaminfrank_]

@@BrendanBoswell it’s the truth tho, it’s very known that they hold the funds for 14 days not trying to get smart.

[@BrendanBoswell]

I didn’t know that’s my point! Sold many watches on consignment never had to wait for the funds more than 2 days. Asked hey we have a buyer on CH24 do you want to go ahead. I was not aware that you then had to wait what is actually over 16 days if I get paid on the stated day! If I was told that this was the process I’d not have agreed to it!

[@benjaminfrank_]

@@BrendanBoswell yea they have up to 14 days to decline they can also accept the watch before the 14 days and you’ll get paid that’s probably what happened on your other sales the buyer release the funds before 14 days was up

[@BrendanBoswell]

That’s the kicker the Buyer excepted and confirmed he was happy within hrs, yet CH24 kept the cash!

[@rickfowler3710]

The 14 day period is so people are able to get the watch appraised which I assume you would also be in favour of as a buyer. As you have your detailed macro pics/video of the watch and the movement. you have nothing to worry about. If the watch comes back in any other state then you have proof. You've already commited emotionally to selling the watch so dont stress. These are the things that will make you more cautious as a buyer in the future

[@BrendanBoswell]

❤️🍀

[@edo7052]

It’s a good platform on which to sell and avoid getting shafted by insulting grey dealer offers. You can wait up to 2 weeks for payout after delivery though if the buyer doesn’t both confirm delivery AND authorise payout!

[@suvar0320]

14 days cooling off periode is a EU directive that applies to all EU/EEA countries. Everything bought online can be returned for whatever reason as long as it's not used and the buyer has the right to get his/her money back. I don`t know where you're from but this is not a Chrono24 rule it's a general rule for online shopping all over Europe and Chrono24 has to follow these rules at least in Europe. However if your watch gets returned obviously used or damaged in any way then the buyer won`t be getting their money back so nothing to worry about here.

[@montys8th]

The buyer can release the money to you by clicking on the 'release funds' button in their email from Chrono. It doesn't have to take that long.

[@markgiles8527]

That’s what I’ve read. And I’ve heard people saying others are buying a watch, using it, then returning it. Got some nice photos of the wedding with my nice watch. 😮 then sent the watch back. This is what some people are doing.

[@michaelfierman3256]

That’s true , but I’ve sold several there. Now I will say that it’s never taken them that long to pay out. Hope you get yours soon

[@markq1]

I use Ebay with the 80% reduced seller fee's everytime. Never had an issue over the years & I've sold five figure £ watches.

[@nuancedbro9373]

Sold my seiko for £500 on it, guy received it and I had my money in 2-3 days

[@williammcaleer3884]

Might have been me that bought it 😀👍was it a seiko samurai night vision SRPH97K1

[@williammcaleer3884]

I sold a tag heuer on vinted which gives the buyer two days to report any issues then your money gets released to you, I’ve also used eBay for selling but pitfall with that is that the buyer can do exactly the same as you described with whatever you’ve sold them (lap dance etc ) and raise an issue within 30 days as part of their buyer protection program. Don’t get me wrong you get your money straight away but if for some reason the item gets damaged and the person decides to raise an issue it would be your word against there’s ! 🍀👍

[@AnotherDaveInParadise]

Once it’s gone through the eBay authentication process it can’t be sent back to you, unless you accept returns.

[@jamiechkhoo5076]

Such is the generous return policies in USA :) But having a marketplace to facilitate such an exchange is the hard part outside of dealing face-to-face.

[@JacReviewsStuff]

The issue is the 14 days yes?

[@BrendanBoswell]

Now I know about it it’s not a problem! Selling through consignment definitely has drawbacks!

[@marcandreasson87]

Interestingly I bought a GS from a Sydney seller when I was living in Melbourne. As soon as I indicated I had received the watch and I was happy there was a tab of some description so that I could release the money immediately the same day to the seller. I checked the watch over, physically and its functionality. The functionality test should have taken a few days tbh, but i was so excited about the watch. All looked good. Paperwork all good wound alright but what I did not test was accuracy. Alas I gave the okay to for chrono24 to release the money. Odd how quick the seller was able to get his funds with my agreement on the day of arrival and you Brendan have to wait??!

[@BrendanBoswell]

??! Yes??!

[@ivankerr3570]

It’s law . 14 Days to return and cancel the sale . Tough. Jeez your such a winger.

[@gavinwhite9743]

You were selling on consignment, so it was a dealer chrono account? Important detail to include, as that gives buyers useful protection, and dealers as a business should be able to include this in cash flow forecasts.

[@BrendanBoswell]

I did!

[@streetmoney21]

Yeah eBay is the best place to sell a watch period. You can see what people are paying. They inspect the watch for the buyer’s protection. There are really good you paying out to sellers in a timely manner.

[@francescodb9689]

Hey there, how did it end ? Got the money or the buyer sent it back to you?

[@BrendanBoswell]

Paid in the end

[@rcthor1066]

@@BrendanBoswell - Hi Brendan. Maybe you should do one of these showing the best places to sell your watch... just saying :)

[@BrendanBoswell]

There in nowhere now! Selling it a dead loss, the only way out is to trade up go deeper down the rabbit hole.

[@Jasperroodog]

why did you consign the watch to a company , was it so you could sell via C24

[@BrendanBoswell]

I was with a trusted Company the watch was on multiple platforms! EBay no problem in the past, was told buyer on CH24 so I said ok! Then I get the 15 days waiting information.

[@DC-si8xw]

Don't you think the buyer should be able to authenticate the watch? Not just trust a private seller

[@markq1]

Was it your Speedy Brendan? If so how much did you let it go for?

[@BrendanBoswell]

No My Last Grand Seiko! Do you want a speedy?

[@bikeman123]

If youre selling as a dealer, buyers get a cooling off period. Part of being a dealer. Suck it up or stop dealing. If youre not a dealer, dont use a chrono24 dealer account.

[@BrendanBoswell]

I will definitely not agree to that again!

[@Ruby-93]

Why not sell it private? There is no 14 days return policy for private sellers.

[@BrendanBoswell]

I know now! Didn’t before!

[@tonytraveller7218]

Never sold too Chrono24 only on Chrono 24 which charges 6.5% … Ive bought and sold recently and after the sale got money released from the seller within 2 days, never any issues

[@BrendanBoswell]

Was the sale through escrow?

[@filiiony4727]

@@BrendanBoswell This 14 day return policy happens only if you sold trough a dealer account.If you sale as a privat person in 2 days you have the money.

[@BrendanBoswell]

Right Good To Know, Much Appreciated!

[@tonytraveller7218]

@@BrendanBoswell Yes will only use ESCROW every time… good and regular comms with the buyers …. So far, so good

[@peterrussell8409]

ebay doing same to me, been a month now and buyer received and happy

[@BrendanBoswell]

That’s crazy! Feel free to explain! 🍀

[@marcandreasson87]

What’s another good platform to sell on where one doesn’t need to put up 100+ posts before they can offer a watch to sell. Pawn brokers are amazing I went in with a 16k brand new GS I had it on eBay for 12k he took it the back came out and said what’s your lowest price I said back what’s the best price you will pay? No response. He said we’re both way off each other’s $ value. I left saying were you going to offer me something like 6k ? Or something? He half acknowledged. He had near new Batman on jubilee for $32k Aussie, now this is after the big correction. I said don’t you know about the correction? Greedy pawn shops. Rip off the desperate who need quick funds and jump up their sale price to stratospheric levels.

[@Frank-vo9xo]

Thank you for the warning my friend

[@Pianoman999]

eBay’s worse. It takes a month with those parasites

[@MrCapitalizer]

Too many rip-off scams on these sites. 14 days is good. It's a buyer's market. The watch industry is dead.

[@chrisboston475]

I agree I have 4 luxury watches that are unworn and I don’t want my watches banged up and sent back to me. I will sell it to an AD before I sell on one of these sights

[@karlgee2607]

I bought a watch through this joke of a company, customer service is garbage, communication is garbage, I would avoid them at any cost, they turn what should be a pleasant exciting experience into a nightmare,

[@NO-TALK-GuitarPlugin]

Watch market is plummeting, so we are in a buyer’s market. That’s why you don’t want to be invested in luxury watches right now, after the speculative bubble exploded 😂

[@Consumer_X]

So, let me get this straight. I can buy a watch and wear it for 14 days send it back and get my money back? Wow1 that's a good deal. I would never get tired of wearing different watches

[@tangsou6373]

U will not be able when they notice your pattern

[@BrendanBoswell]

Good To Know, I’m still waiting on my Money!

[@bobbydazzler8620]

14 day cooling off period is standard fare 6% sellers fee School boy error Brendan Back off the class

[@BrendanBoswell]

I was a virgin! Told we have a buyer on CH24, Said okay! The rest is history 🍀

[@CorneliusRushtie]

I just buy watches i will not sell now. Ever. Screw dealing with the leeches out there and potential pitfalls. Most 99% are out to rob you blind, or scam you, that's the reality.

[@JacReviewsStuff]

I wish you all the best

[@williams8953]

Even the experienced can make a mistake.and yes mate I got a moment to subscribe 😅

[@JacReviewsStuff]

Lets make wearing two watches Trendy =D

[@david.9633]

Sorry that your experience selling on chrono was bad. I guess I'll stick to selling on ebay 🤷‍♂️

[@BrendanBoswell]

A lot Quicker, just remember I sold with it being on consignment! I didn’t know the policy with business sales. No one explained it.

[@vevey75]

I think buying from jewellers or auctions is the way forward.

[@u.u.u9969]

You complaining about waiting for your funds to be released is hilarious 😂.

[@BrendanBoswell]

Glad you are amused! I’m sure you would be happy to wait!

[@wahnano]

Well , if I'm buying a £100000 timepiece on the internet, I better have some guarantee. If you can't stand the heat, get out of the kitchen.

[@BrendanBoswell]

You probably don’t have £10 let alone a Kitchen.

[@ianrusso8790]

2 weeks is not that long

[@BrendanBoswell]

It’s a lifetime, if your a fruit fly 😜

[@vvanced99]

14 days consumer goods act, applies to anything purchased online or not seen in person, you don't need to read small print, you just need to not be absolute spastic

[@BrendanBoswell]

You are a disgrace!

[@garywilson3582]

I purchased a stolen omega off chrono24

[@BrendanBoswell]

Yikes

[@garywilson3582]

@@BrendanBoswell Any watch you buy check the serial number on the stolen watch register

[@dmaul5190]

Rubbing her groin on my watch! Your imagination works in mysterious ways, and now so does mine now 🫣😜😂😂👍🏻

[@BrendanBoswell]

Did you spot the Camel?

[@dmaul5190]

Ye 😂😂

[@youssouflemartyr-ux6kg]

🤣