It's rare for to me to launch into print to endorse any product or organisation because there is a big responsibility implicit in lending support to the adventures of others. However, when something new and interesting comes along that has the potential to improve the experience and safety of purchasing a watch on the global internet, I’m more than happy to share the news.
WatchXchange, has been launched to provide a more secure marketplace for buyers and sellers of pre-owned watches. Vintage watches will not be part of this enterprise because of the immense difficulties in verifying authenticity over the range of available brands. At this stage the service is available to residents of the USA only with street addresses: post office boxes are disallowed.
The buy-sell system will operate by using a “proprietary intermediate transaction process”. What this means is that each individual watch is appraised for authenticity by experienced watch experts and buyers receive “payment protection” on their purchases.
When a deal is done, WatchXchange receives the watch from the seller and inspects it for authenticity and confirms that it has been accurately represented by the seller. If the watch cannot be authenticated or does not match the listing description, it will be returned to the Seller and your payment is refunded. Once confirmed the watch is shipped free by WatchXchange to your door. Sellers pay a “success” and not a listing fee and buyers pay no fees at all.
Many buyers of recent and pre-owned quality watches are recent graduates of the throw-away watches school and couldn’t tell a balance cock from a stop cock. They are sitting ducks for all sorts of criminal and fraudulent enterprise, but, now, with a respected intermediary coming between them and the vendor to authenticate the watch and handle the money side of things, they don’t have to think of the seller at all once they’ve agreed on price.
For those of us who have bought too many watches in our lifetimes, while we may be able to authenticate the watches we buy, we can now be assured that after we wire the money we won’t receive a registered package that contains a rock in a box!
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