Precaution of buying preowned watches

[one2ten]

Hi guys,
I'm new here, recently thinking of getting a preowned Pam,
However reading through the forum ( can't remember which forum). There were cases like ppl bought a preowned piece, when they sent in for service and found out the watch was reported as stolen.
Anything we can do to secure ourself? Is there anyway for us to check before buying or can we transfer ownership?

Thanks In advance.

[Oceanklassik]

Hi and welcome

With regards to your queries, any kind of transaction will come with certain risk involved. If you are intending to make such a purchase, it is best to deal at a place where you can verify the watch and at the same time, do the transaction when everything has been proven authentic. If you read on and search the forum for relevant information, you should have no problem understanding it.

Happy reading

[triton]

You may consider reading the following 2 threads in the Rolex Concierge

Rolex Buying Guide

Things to look out for .......

the safest way i feel for buying a pre own pam to ally your fears is to meet the seller @ Richemont and send in the watch for a service. if the watch is reported stolen, hopefully Richemont is aware of it and can inform you accordingly.

usually what i would like if possible is get the seller to photocopy the original sales receipt. certain information may be blank out for privacy purposes such as name/address/price/etc. usually a sales receipt will have the watch serial number written on it. so if that sales receipt is pass on, at least it can give the next buyer some form of insurance. but chances of this happening is LOW or should i say negligible.

Hi guys,
I'm new here, recently thinking of getting a preowned Pam,
However reading through the forum ( can't remember which forum). There were cases like ppl bought a preowned piece, when they sent in for service and found out the watch was reported as stolen.
Anything we can do to secure ourself? Is there anyway for us to check before buying or can we transfer ownership?

Thanks In advance.

[one2ten]

Thanks both triton and oceanklassik for the speedy reply.
Because this shall be my first expensive watch purchase (>$10k), I just don't want it ended up been confiscate when send in for servicing next time... ( will richemont do that?)
Maybe Im just worrying too much

[louie]

Hi guys,
I'm new here, recently thinking of getting a preowned Pam,
However reading through the forum ( can't remember which forum). There were cases like ppl bought a preowned piece, when they sent in for service and found out the watch was reported as stolen.
Anything we can do to secure ourself? Is there anyway for us to check before buying or can we transfer ownership?

Thanks In advance.

not local forum i presumed...if local, cases like this is rare. If it's local, what happened at the service centre after they found out the watch was reported stolen?

Hi and welcome

With regards to your queries, any kind of transaction will come with certain risk involved. If you are intending to make such a purchase, it is best to deal at a place where you can verify the watch and at the same time, do the transaction when everything has been proven authentic. If you read on and search the forum for relevant information, you should have no problem understanding it.

Happy reading

not every seller, including myself have the time to go wait at the service centre for authentication result or service quote. Remember when i sold you my nos GMT MASTER, they (RSC) told you to go back after afew hours. Luckily my projects were in orchard area, and i could swing back to meet you at RSC. Yeah i don't even know your name back than hahahaa
hay did you sense i almost didnt wanna to sell you my watch...but was moved by your sincerity!

[Paneraii]

You may want to get the seller to sign this form:

Purchase and Sale Agreement
This agreement is made this ____x____October_________, _200x___ between Seller _____________________ IC no #______________________ and
Buyer, Fernando Torres, IC no# S09H
Seller agrees to sell and buyer agrees to buy the following described watch together with all accessories, certificates, warranty booklets and boxes described below:

Watch: Rolex GOLD Watch. Model No: 123456 F-series Serial Number: ____x______

Description:x
Accessories included.
Purchase Price $500.00 Singapore Dollar
The purchase price to be paid as follows:
1. CASH MONEY of SGD 500.00 to be paid and upon acceptance by seller. The buyer will take watch subject to the authentication by Servicing Centre on condition that the watch is certified genuine to the buyer:
2. CONDITION OF WATCH AND ACCESSORIES: Seller warrants that the watch and all mechanical parts and appliances will be in good working order at purchase. Buyer will have access to watch for inspection and the cost of any needed repairs will be paid by buyer after purchase.
3. DEFAULTS: If seller defaults, buyer may pursue all remedies allowed by law and seller agrees to be responsible for all costs incurred by buyer as a result of sellers default.
4. ADDITIONAL TERMS AND CONDITIONS:
__________________________________________________ ________________________________________
The undersigned have read the above information, understand it and verify that it is correct.
__________________________________________________ ________________________________________
Seller:
__________________________________________________ ________________________________________
Buyer

I google it

[louie]

You may want to get the seller to sign this form:



I google it

if you the seller, would you sign this agreement or contract?

[vellefire]

In my view, it depend where you buy the watch and what price,
If someone offer you an expensive watch at food court with very attractive price there's
of course very risky and you dont know where the watch come from but
if you buy from our forum or someone familiar or pre-own shop unlikely this scenario will happen.
Lastly, it's good to spend additional $107 to RSC if it make you sleep well. No offend please.

[Zhi_Peng]

Nothing to 100% secure ourselves when buying preowned. There are always risk involved in buying preowned. Always look out for full boxed set, certificate, a bonus if comes along with offical invoice. Make sure the serial number on watch telly with the certificate, stickers and box. Can't have all this if the watch is stolen.

I think u also need to worry about fakes in the market. As Panerai fakes are getting better and better. I will avoid no box and no papers thread unless you got knowledge checking yourself which i don't (No offence to those bro selling no box no papers) Most important, buy the seller! Look out for suspicious answers from sellers!

Welcome to this poisonous community and happy searching for your watch!

[one2ten]

You may want to get the seller to sign this form:

I google it

wow, this is most helpful indeed, have never come across my mind about this. thanks a lot for shedding light
maybe can tweak a little, ie. agree transfer of possession

if you the seller, would you sign this agreement or contract?

of course, we are not trying to be 以小人之心 to judge other, no offence really
after all, we are paying so much money.

In my view, it depend where you buy the watch and what price,
If someone offer you an expensive watch at food court with very attractive price there's
of course very risky and you dont know where the watch come from but
if you buy from our forum or someone familiar or pre-own shop unlikely this scenario will happen.
Lastly, it's good to spend additional $107 to RSC if it make you sleep well. No offend please.

authentication should not be an issue if we are buying in house movement model right?
my real concern is what if a seller sold the watch, regret afterwards and report police as stolen/lost...etc?

Nothing to 100% secure ourselves when buying preowned. There are always risk involved in buying preowned. Always look out for full boxed set, certificate, a bonus if comes along with offical invoice. Make sure the serial number on watch telly with the certificate, stickers and box. Can't have all this if the watch is stolen.

I think u also need to worry about fakes in the market. As Panerai fakes are getting better and better. I will avoid no box and no papers thread unless you got knowledge checking yourself which i don't (No offence to those bro selling no box no papers) Most important, buy the seller! Look out for suspicious answers from sellers!

Welcome to this poisonous community and happy searching for your watch!

ya, totally agree, maybe i just worry too much
thanks for the reply guys

[ichiban]

Bought my Pam second hand recently
What I did was ask seller to send me photo of warranty card
Then confirm it's an authorised boutique
Then google n get email address
Email the boutique regarding the watch (series n no. On watch n movement number)
Then also if there is original invoice or sales receipt, email that over and authorised dealer can confirm if there was actually such a trade

[vellefire]

That's a very smart move and good thing is they are willing to entertain your email.

[louie]

Nothing to 100% secure ourselves when buying preowned. There are always risk involved in buying preowned. Always look out for full boxed set, certificate, a bonus if comes along with offical invoice. Make sure the serial number on watch telly with the certificate, stickers and box. Can't have all this if the watch is stolen.

I think u also need to worry about fakes in the market. As Panerai fakes are getting better and better. I will avoid no box and no papers thread unless you got knowledge checking yourself which i don't (No offence to those bro selling no box no papers) Most important, buy the seller! Look out for suspicious answers from sellers!

Welcome to this poisonous community and happy searching for your watch!

good move, for Roleks yesh got full set the best but for Pams i will be extra cautious cos there are fake boxes booklets and warranty cards. So far i nvr seen a fake Rolek card yet...

wow, this is most helpful indeed, have never come across my mind about this. thanks a lot for shedding light
maybe can tweak a little, ie. agree transfer of possession


of course, we are not trying to be 以小人之心 to judge other, no offence really
after all, we are paying so much money.



authentication should not be an issue if we are buying in house movement model right?
my real concern is what if a seller sold the watch, regret afterwards and report police as stolen/lost...etc?


ya, totally agree, maybe i just worry too much
thanks for the reply guys

i'm buyer myself too, and i had the same worries as you before. Go chk out the FAQ on this forum, or read out more abt what to expect. Comm with the seller, prior to meet up to avoid any possible misunderstanding.

If it's solid case back you will need to have it pop open to chk for it's movt nos. Your concern is no concern at all , seller's remorse!? Simply offer the new owner a price to buy back, no success than buy back the same model frm the open market lor. Report POLICE, why in the world got to do that not only getting the innocent buyer into problem but seller himself ended got charged for false statement and end up polishing bars...

Bought my Pam second hand recently
What I did was ask seller to send me photo of warranty card
Then confirm it's an authorised boutique
Then google n get email address
Email the boutique regarding the watch (series n no. On watch n movement number)
Then also if there is original invoice or sales receipt, email that over and authorised dealer can confirm if there was actually such a trade

i'm surprised too, that bt replied you with so much details! If im the seller i would nvr email the scan of the warranty's card to a complete stranger why? 2 reasons below,

1. I dont know you, what if you are frm the rep factory? Than the next moment i see my BB nos all over the places...(BB nos are like PAMs ID)
2. I wouldnt wish to let the bt or my AD know i listed my watch for sale.

[louie]

wow, this is most helpful indeed, have never come across my mind about this. thanks a lot for shedding light
maybe can tweak a little, ie. agree transfer of possession


of course, we are not trying to be 以小人之心 to judge other, no offence really
after all, we are paying so much money.



authentication should not be an issue if we are buying in house movement model right?
my real concern is what if a seller sold the watch, regret afterwards and report police as stolen/lost...etc?


ya, totally agree, maybe i just worry too much
thanks for the reply guys

hi one2ten, dont worry lah i have nvr heard a single case abt seller's remorse and resort to making false statement to the POLICE to sabo the buyer....安lah!

[one2ten]

ya, i guess SG should be safer compare with other country.