WatchPayer

Watchpayer.com is an e-commerce website that buys and sells used luxury watches online. WatchPayer uses an escrow commerce arrangement to secure customer-company transactions.

WatchPayer
Type of businessOnline marketplace
Type of site
E-Commerce
Founded2016 (2016)
HeadquartersNew York, New York, United States
Area servedWorldwide
Founder(s)David Muller, Mark Miles
CEODavid Muller
ServicesLuxury Good Reseller, Appraisal
Employees11
URLwww.watchpayer.com

Background

Founded in 2016, watchpayer.com allows customers to buy and sell pre-owned luxury watches in a protected, secure online environment. As of 2020, watchpayer.com is the only online marketplace cooperating with a third-party escrow company in its mission to safeguard customers against fraudulent activity found on many pre-owned e-commerce websites.[1] As of 2019, watchpayer.com was rated first in customer service and security on several e-commerce review websites.[2][3][4][5] WatchPayer is headquartered on 47th Street in New York City, in the heart of New York's famed Diamond District. The company services customers across North America and the United Kingdom.

History

David Muller, Founder and CEO of WatchPayer, became interested in the world of luxury watches when he was handed down a Doxa pocket watch by his mother, daughter of a Hungarian-born Holocaust survivor named Avraham Muller. Avraham was deported to Auschwitz from his hometown of Budapest on May 15, 1944. Upon his family's deportation (he was 16 at the time), he left his most precious belongings with his Christian neighbor. Included were several pieces of jewelry of his family members as well as his own Swiss-made Doxa SA Anti-Magnetique open face pocket watch, which he had received upon his Bar Mitzvah three years prior. Avraham survived one of Auschwitz's labor camps, along with one sibling, and emigrated to the United States in 1945. Ten years later he received the watch from his old neighbor in Budapest. A difficult reminder of the tragic loss he endured, Avraham stored the watch in a safe deposit box in a New York City bank for more than 50 years. His daughter Sharon retrieved the contents of the box after her father's death in 2006 and gifted it to David, who was 18 at the time. From the moment he received this gift, David dove into the world of luxury watches, beginning with this first edition pocket watch, which he treasures to this day. Fascinated by horology and the detailed work of watchmaking since the age of 18, he decided to forgo a standard college education and instead committed himself to gaining deep knowledge of the history and artistry of watchmaking in his hometown of New York City. In 2016, along with his childhood friend Mark Miles, he founded Watchpayer. The two entrepreneurs’ mission is to provide watch-lovers and collectors with a safe and manageable way to buy, sell, and trade their own prized timepieces.

Operation
A WatchPayer expert appraiser evaluates the quality and authenticity of a pre-owned Rolex

Customers interested in selling pre-owned luxury watches, including vintage, popular, and rare models from watchmakers such as Rolex, Omega, Breitling, TAG Heuer, and Patek Philippe, enter watchpayer.com and click the “Get Your Quote” link. Interested sellers are then requested to fill out an initial form, including as many details about their watch as possible, such as brand, model, style (for men, women, or unisex), movement, mirror material, band material, case material, clasp type, and weight. Customers are also requested to send photos along with watch specifications. After submitting this form and attachments, customers are promised a quote from a WatchPayer expert appraiser within twelve hours. Customers may accept the quote or reject it, the latter indicating a termination of the sales process. If a customer accepts the appraiser's quote, WatchPayer initiates a transaction request from its partnering service, Escrow.com, using the customer's name and contact information. Customers then open an account on escrow.com, where they provide their bank account details. Their fund are then deposited via wire/bank transfer within 36 hours.

Customers are then sent a pre-paid, fully insured FedEx shipping label from WatchPayer. Upon receipt of the customer's watch, a WatchPayer appraiser inspects and evaluates the watch according to the specifications listed by the customer. If the watch is not as pictured, or if it has previously unmentioned mechanical or physical imperfections, including aftermarket parts, the appraiser may send a correction to the original quote, or, in a case of a watch being fraudulent, it will be returned at the expense of the customer. If a complete inspection reveals no mismatches in information provided, the customer will receive their wire/bank transfer within one business day.

gollark: Or even just "Would you like to authorize the device this QR code was created on to access your account? If you did not create it select "no"".
gollark: Probably. They use rather unclear language.
gollark: Their whole thing of "let's be approachable and use the cool kids' language" doesn't really help comprehensibility.
gollark: Apparently it *does* actually ask if you want to give the device access, so if people blindly say "yes" it's just them being silly.
gollark: ... why would they do it *that* way? Does it not even say something like "would you like to allow this device access to your account: yes/no"?

References
  1. Sanci, Elissa (March 11, 2020). "How to Sell and Buy Secondhand Things Online Without Getting Scammed". Retrieved 27 July 2020.
  2. Mutiple Reviewers. "Reviews of WatchPayer". Verified-Reviews.com. Retrieved 27 July 2020.
  3. WatchTarget (31 January 2019). "Review of the month: WatchPayer Ranks #1 Place to Sell Your Watch Online". medium.com. Retrieved 27 July 2020.
  4. Mutiple Reviewers. "Reviews of WatchPayer". watchaudit.com. Retrieved 27 July 2020.
  5. Mutiple Reviewers. "Reviews of WatchPayer". shopperapproved.com. Retrieved 27 July 2020.
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