Selling watch overseas

[WTWH]

Wanted to hear from fellow forum members who had sold watches overseas...

1) Do you cover the watch with shipping insurance to protect against lost during transit?

2) If so, how much is the insurance estimate to cost?

Hope to hear from your experience. Thanks!

[MTC]

Maybe u can check with fedex with their priority shipping

[WTWH]

Maybe u can check with fedex with their priority shipping

Thanks I did check with FedEx.

But realised that there is another problem. If I declare the value for the insurance, the full amount will be reflected and subjected to tax on the buyer's end.

Anybody knows how to work around this?

[Ender]

Wanted to hear from fellow forum members who had sold watches overseas...
1) Do you cover the watch with shipping insurance to protect against lost during transit?
2) If so, how much is the insurance estimate to cost?
Hope to hear from your experience. Thanks!

#1 - Yes, insurance always. If no insurance, it MUST be on buyer's express instructions and made clear that if lost for whatever reasons, buyer bears the risk/loss.
#2 - depends on cover of insurance, weight and destination. Best to give ParcelPro to give a call for estimate and advice.

[Ender]

Thanks I did check with FedEx.
But realised that there is another problem. If I declare the value for the insurance, the full amount will be reflected and subjected to tax on the buyer's end.
Anybody knows how to work around this?

Don't think you can work around this esp if you are using ParcelPro.

[taxico]

Don't think you can work around this esp if you are using ParcelPro.

that's not true. while your insurance must be adequate in case of loss, your actual courier description and value must not be eye opening.

not just for parcelpro but also for jewel systems, g4s, etc. i've never had problems receiving and sending shipments this way because at the end of the day, both parties want a successful transaction at the lowest possible cost and risk.

but note that some sellers are not comfortable making such a declaration.

[taxico]

Wanted to hear from fellow forum members who had sold watches overseas...

1) Do you cover the watch with shipping insurance to protect against lost during transit?

2) If so, how much is the insurance estimate to cost?

Hope to hear from your experience. Thanks!

1. full value - always. this benefits buyer and seller. know that the person buying the insurance will be responsible for making the claim - and i equate that to being the same person who has to be out of pocket earlier if the parcel disappears. so i try to make the other person get the insurance and adjust the price accordingly.

2. the actual quotation varies depending on how you obtain it. for me it's about US$100 - $150 for a USD 10k watch.

[Ender]

that's not true. while your insurance must be adequate in case of loss, your actual courier description and value must not be eye opening.
not just for parcelpro but also for jewel systems, g4s, etc. i've never had problems receiving and sending shipments this way because at the end of the day, both parties want a successful transaction at the lowest possible cost and risk.
but note that some sellers are not comfortable making such a declaration.

You mean you managed to declare a lesser value than what was insured?
First time I have heard that it can be done but it's being some time since I shipped anything substantial out so I must be outdated.

[taxico]

to reduce the risk of theft... the declaration is to be "creatively" filled out in accordance with the insurance company as the insurer is not the courier/postal company.

as i mentioned... some sellers are not willing to do this type of declaration. i think it is an additional benefit for the buyer as they usually don't get hit with a tax bill.

i have had one item opened for inspection by singapore customs last december (package was re-taped and had blue customs seal) - a rolex watch was inside a green US RSC service box and the item was declared as instrument for warranty return $0 commercial value. the sender information was a private individual.

no problems!

[lohbros]

Which courier service provides the lowest cost and insurance?

[Nutella]

Which courier service provides the lowest cost and insurance?

i once sent a watch to a buyer situated in usa via singpost. cost about $35+, with no insurance though...