| Part III – How to have safe online transactions |
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Part III – Payment protection
In our previous article, we touched upon how asking for additional photographs could help you decide if a seller actually has the watch on hand. We ended by mentioning that while a seller may have the item, he/she may not part with it after payment. Here in this part, we discuss some steps that one can take to address that issue.
Perhaps the most important point to make in payment protection is that one should not pay in cash or cash equivalents unless there is a long standing relationship with the retailer, or unless it is easy to report the seller to law enforcement and obtain the requisite support. Naturally, a certain trust can develop over time, and certain payment options might be acceptable eventually. The easiest and safest payment method would be through your credit card, either directly or through Google Checkout or Paypal. If necessary, your credit card issuer would act as a very powerful agent to support your case for a refund, should the need arise. Other payment methods such as escrow services can be very useful as well, but only if the service is legitimate. A service such as escrow.com, which is owned by eBay, would be one such legitimate service, while others may very well be shell companies used to defraud buyers.
One additional comment needs to be made with regard to payment using Paypal. One should not believe that Paypal will do anything meaningful to help recover funds on your behalf, should the transaction prove fraudulent. In fact, it would prove very difficult to recover funds if the seller were to withdraw the money, and you may find that at this point, Paypal would simply close the case. Hence, when paying through Paypal, you must use the credit card option, so that if all else fails, you can ask the credit card issuer to refund the payment to you. This is far more likely to end in a happy result for you the buyer.
Hopefully, this article series has helped potential clients understand how easy it can be to have a safe and wonderful buying experience for a high-end luxury watches. Taking these relatively simple approaches to online buying should help enormously in protecting the buyer in fraudulent transactions. If you should have any questions, feel free to contact us through our website, and we would be pleased to assist you further.
Please look for our next series: How to Inspect a Watch, to help you further understand the pitfalls of buying watches.
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