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UNREAL! Client Cancelled a $100K Check after Receiving His Watch!
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- Опубликовано: 4 июл 2023
- New Grey Market Episode: "My Plan to CRUSH $130 Million in Sales in 2024"
• How I'm Going to Sell ... -~-
We delivered a brand new Patek Philippe watch and the client stopped payment on a $100,000 check! Watch the video to see what happened!
👕 𝗦𝗵𝗼𝗽 𝘁𝗵𝗲 𝗚𝗥𝗘𝗬 𝗠𝗔𝗥𝗞𝗘𝗧 𝗗𝗿𝗼𝗽 𝗛𝗲𝗿𝗲: www.luxurybazaar.com/grey-mar...
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⚠️ Get a quote to insure your watch here: luxurybazaar.com/grey-market/...
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👥 𝗝𝗼𝗶𝗻 𝗼𝘂𝗿 𝗙𝗮𝗰𝗲𝗯𝗼𝗼𝗸 𝗚𝗿𝗼𝘂𝗽: 𝗙𝗮𝗰𝗲𝗯𝗼𝗼𝗸.𝗰𝗼𝗺/𝗴𝗿𝗼𝘂𝗽𝘀/𝗴𝗿𝗲𝘆𝗺𝗮𝗿𝗸𝗲𝘁
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Never ever allow a bad check get converted to a payment schedule. Once you do, you lose any protection provided by the criminal laws. It becomes a civil issue only. Across state lines makes it even harder.
I learned that one the hard way as a Scotsman in LA.
Busted my ass.
Really this is the first I can look at this kinda stuff again cos I can’t stop thinking where I would be if not for that person
@@JamieWalker-pc6nd I hope you ended up ok. It’s never right when cheaters and deadbeats take money from honest people.
Great advice.
This episode definitely had the old school feel to how the videos used to be which in my opinion are the best kind of episodes. Nice and simple you see a little bit of everyone and where they are at no manufactured drama or needlessly overhyped scenarios. Great episode.
I agree
Agreed. Liked this episode more than recent ones.
Exacly what i was thinking, ive stopped watching a lof of the new ones tbh. Prefered the old ones not sure why they changed it all.
Agreed! Liked the old episodes much more.
Agree
Peter is the best most underrated staff member, he seems to humble and extremely intelligent on Watch repair, if you wanna sell watches you should know how every part works in it
100%
I agree. I was going to post saying he looked completely enthusiastic while explaining how he brought it back to life.
I own a small business where the average transaction is about $375.
I have heard every lie, every excuse, every dirtbag reason as to why the "customer" cannot make the payment following service completion.
I'm not heartless. I have once been homeless, single father, toting an 18 month around trying to make things meet.
Everytime it comes time to collecting payment, I get extremely nervous.
Nervous because as "nice" as I can be, there are human beings out there who haven't the slightest bit of morals.
When I hear the excuse, I want to hear the story. If this customer is really having a hard time, if a mistake was made on their part, or if they are working with me to get the payment, I am more lenient and understanding.
I will devise options to make it work for both parties.
However, if the customer is playing games (like the cancelled check guy), then all manners and professionalism go out the door.
I have had customers call me "fucking bitch" and have even challenged me to fights over the inability to pay.
Well, I'll tell ya, business owner or not, you're stealing from me and my family when you don't pay me. I take that very personal and if you don't approach the situation with class, your door will get knocked on.
It's all fun and games until the big, bald, tattooed, Asian guy business owner shows up at your door demanding money.
i recommend you have the sign an agreement before you offer any of your services to be assured you will have the hold legally accountable for their action believe that will be a life saver to you plus put up insurance on your business for stuff like that some countries have packages that cover you from losing money or not being paid by costumers and after that the insurance company sues them for triple or sometimes quatruple the ammount they actually owned and always take evidence that you delivered your services as cause it helps your case even more
Shiver me Timbers oh no tattoos
A friend of mine has a business installing Aircon units. He completed a job on a home, and the owner didn't pay him. In the end his brother, a former biker of a well known biker club went to the home to collect. Let's just say the money was paid in cash on the spot.
Yep demand services yesterday and want to pay tomorrow.
This show is so underrated in what you can learn about how to run a business. I love that Adrian took over a task to keep Marco selling. Adrian knows what is bring in money and he is going to make sure his producing staff are out producing. Such a valuable business lesson.
Adrian definitely the 🐐👑
how not* to run a business
Adrian is not taking over his tasks. He will give it to someone else to do. His time is far too valuable to do somebody’s clerical tasks. Don’t believe everything they tell you. It is not real life. Probably mostly scripted.
Should’ve been a wire transfer plain and simple. there’s no way I would want to be in the business of flipping watches with scams happening more than ever
The fact you guys accepted a 100k check like yeah no problem is the dumbest thing ever. In a world of wire transfers why on earth would you ever accept a check for that amount?
Please heed this man’s advice. I sold stuff interstate and held shipping for two weeks to insure the check would not be returned. On a few occasions, it was returned and I saved myself big problems. I informed customers checks would hold up shipping before I accepted them.
Agreed. It sounds like they’ve done business previously. A business check is different than a personal check. The buyer should immediately wire that $ or he’s going to get a knock on his door.
In Europe such sum on a cheque is even forbidden by law
You can also stop a wire
It's totally normal in that world, stay quiet brokie.
I genuinely enjoyed this episode! Thank you, LB!💜💪🏻💯
Imagine falling for a check scam in 2023 as a multimillion dollar business...
Acted for dramatic title and more views...
Imagine using checks for payments in 2023, in most developed country on the planet... 😀when you can do payment via 1 button click on your app in your phone...
@@Spazik86harder to do so when it’s 6 figures
@@Spazik86You clearly have never send wires out above 10k otherwise you would not have posted such a dumb comment 😂😂
@@chrispostma3121 I live in Europe, we do not have such stupid thing like check here for decades (not sure if checks were even a thing ever in EU..). ALL larger payments are basicly online wires these days (free to send and recieve these days). For smaller payments you can use some mobile apps, debit or credit cards etc.
Checks stamped "Stop Payment" may, in certain circumstances, be the subject of criminal charges, but you should be aware that Stop Payment Orders are NOT generally criminal and may be used as a means of dealing with contractual disputes.
unless the writer is charged with theft by deception .
You have zero clue. Especially in a 6 figure transaction = yes there are federal charges in place and that person would go to prison asap
They don’t have cash for whatever reason, they have sold it and probably have been shafted their end by their client. Don’t accept cheques just wires moving forward
As soon as the guy asks to do four separate payments, I thought the same thing. The purchaser thought they could do a quick turn around on the watch and as soon as that didn't happen they cancelled the original check before it had a chance to clear and clean them out. What they want is time to pay the debt hoping to still flip the watch and make a profit.
First time to watch this show WAY COOL thank you I have been checking out your inventory for years
This feels like a straight up reality show, I love it!!!
Great episode!! Love this type of content.
Absolutely fantastic episode!
Glad to see the content starting to feel like the older videos again! Great episode! ❤
The Sales people make the show bozo brains.
PLEASE show more of peter refurbishing watches for your clients. That content is gold.
Marco is going polo on the sales. He deserves the best sales with his hardwork and knowledge
Been waiting for content like this!!!!
Before giving $100k watch to a client I will cash the check first ...after funds have been received then deliver watch ....too many crooks now!
Yeah, typically with that amount it goes into escrow
It is honestly laughable and completely unbelievable that Americans still use checks in 2023. Someone tell me WHY????
Most people (me included) had no idea that a cashiers check can be cancelled. I always thought it was irreversible. But, now I learned (through RUclips videos) that I was wrong
@@scottmakis7070 why are you using checks at all?! Most developed countries have digital payments that settle domestically within the hour.
The whole world still uses checks lmao airhead it’s just not a preferred payment method as it used to be 😂 acting like we’re in 2068 and it’s unheard of and as ancient as Persian coinage or something my boy relax. It was more so stupid for them to have even accepted it not that checks are still being used 😂 cause hate to break it to you they are VERY common worldwide still, classic debit and credit cards without an RFID chip are less common than checks.
@@simontvrner Judging from what Google says... (since your country doesn't know how to Google things apparently) because cash is king. Also, it's a bit different when your country is the size of a small to medium state. It's much easier to push certain tech/apps across a densely packed population. Checks are a staple and will be around for a long, long time. They are apparently still very big with millennials. Maybe next time you should learn to google if you don't know something?
@@oni-one574 If cash is king what the hell would you use checks for. They are NOT cash! They are a paper instruction for a bank to make a payment..... easily forged, rejected, bounced etc. Why not make the payment directly with no delay. At no point do you explain the reason for checks, they are obsolete.
2 million in sales for the month and he has to ask the sales manager for recognition. That sales manager is not a real leader
Honestly Anna is the best part of the videos handles the phones like a champion and looks great too🔥😉
Amazing episode! Being in sales myself all I can say is watch sales looks fun
I don’t understand why they would ship a watch out without even having a cheque cleared ?
it's called scripted drama scenario for the content
@@jeddejesus1552 right ? I mean that’s the only thing that logically makes sense. I’m more creators should just b be honest and say “some situations that appear in thins video are dramatized or enhance for your entertainment”I don’t think most people would dare
@@jeddejesus1552prove it
@@MattyVice I do see where you’re coming from but it’s a 100k watch I don’t think any buyer would be offend by saying I need the cheque to clear before I send you this high value item. If it was 10-25k I would be more willing to believe they did it out of trust from previous deals. 100k just sending it off without any payment seems crazy
@@acidjayjay7736 its not crazy - specifically with a reoccuring client who does volume business.
This whole space is based off trust.
$100k is nothing in this space, trust me.
We need more Peter. Marco definitely has a lot of knowledge but Peter is much better at delivering the knowledge.
Customer service is rebuilding a $75 Casio quartz watch nobody will touch because there is no money in it, for a client to let him know he's important to your business. Kudos.
I sure would like to hear more about this PP strap cutting business- they cut the strap on a brand new watch to keep people from flipping it? And then you flip it? So the client has to source a new strap somehow? This confuses me- so you are telling me you want out of the PP dealer with a case and a cut strap as a retail customer? How is that acceptable to anyone, much less a Patek customer?
Didn’t wait for check to clear. Nice work!
Dang kind of seems like a toxic work environment. Everyone bashing each other instead of encouraging their success, Adrain can’t even give a simple compliment that would go so far for Marco.
Its not toxic, just competitive. This kind of environment is very common amongst high performing sales teams in all types of business. The environment is not for everyone, but ongoing tension often brings the best out of everyone when it comes to sales performance.
Marco doesn’t need a compliment. He needs to make sales. He needs to do deals. A thumbs up doesn’t pay the bills.
@@byrong1561 agreed with this 💯
Ok buttercup.
@@byrong1561That's why very few make it in sales. Im 29 and have seen so many sales people come and go because they can't hack the environment. You dont have to be a pushy sales person to thrive, high quality customer service will always net you the bag 💰
Insane numbers from Marco. I imagined Alex would always be the top performing sales guy, but maybe not. Marco is proving himself to be the epitome of the well worn and true saying 'knowledge is king'. He has excelled at buying, selling and content creation, because he knows what he is talking about. Its clearly evident you cannot fake this kind of knowledge or blag your way through a sale when engaging with anxious clients spending so much money in what is essentially a bear market. Well done. . Despite the variety and frequency of content on this channel, its always nice to see an OG Grey Market episode. There is no doubt LB are currently doing this type of content better than anyone else on RUclips.
I much prefer Alex. Marco has a huge ego and lets his anger out when he is having a bad month and is arrogant on a good month. He slipped up and showed his true self in a previous video about splitting commission. Threw a baby tantrum.
@@TheUntitledMisc Despite his watch knowledge, he is still very young and inexperienced when it comes to business. He realised his error in the commission episode and ended up agreeing it should all go to Kevin. I get the ego may not be to everyone's taste, but its very common amongst top salespeople. Very few have the somewhat underwhelming personality of Alex. Marco will only learn and improve as times goes on and definitely has a higher ceiling for performance and growth than anyone else because of his freakish knowledge.
Watched it through. Good episode
Fantastic episode.
Great pace, dynamic and engaging video…. Keep it up!
@RomanSharf7looking forward to it.
imagine shipping a watch before the checks been cleared in 2023 😂
Happens everyday in the watch and jewelry business
@@nickdavinci2196 yikes on bikes
I’d pay a subscription for longer episodes! Miss the old 45-hour episodes!
I really loved what you guys did with the Casio surprise, beautiful.
One of my new favorite channels
Old skool great video lads💪💪
@Nico - Can you recommend me a Hublot?
Taking a check seems wild!
I have bought watches from reputable dealers where I either wired the money or waited for the check to clear. They are not getting paid on that item. I have dealt with scam artists my entire life. Everything they say is to lie and delay. I am surprised they let themselves get scammed so easily.
Liking these Videos!!!👍🏼
UNREAL! Luxury Bazaar fired almost their entire sales team...
First time on your channel. I’m blown away of the quality watches and jewelry you guys have. Amazing! I’m in law enforcement and I retire in two years. I’m getting a submariner Rolex for a retirement gift to myself. It will be a great heirloom watch to pass onto my son. I definitely don’t have the coin for most of your watches. I’ll check you guys out when I got it saved. Great show.
I hate this old school 1990’s NYC tactic. Let a check bounce, blame it on the product, keep the product, and hope the guys weak or scared enough to go through court so you eat the payment split a few times. This guys living in the wrong era 🤦🏻
Wow!! Hell Nah! 4 Payments after they made stop payment on a check Smfh!! Never do deal with that type of Shady People💯.. Stop payment after you receive the watch Unbelievable
sounds like diamond district ethics
banger episode!
amazing slip of the Freudian 2:24 "coward" cover the check, I LOVE IT. This video\transaction is awesome, thanks for sharing
Guy doesn't have the cash in the bank. The watch should not have been shipped until the check was cleared.
Great respect to Marco wearing a G-Shock Titanium MRG-B5000 👍🏻 had to be said
Lookin good Ana! 🥰
Great video guys
I hope you got your money! You’re a good businessman! Good for you.
great vid!
22:26 😂😂 that conversation was gold
What absolute scam boys that pulled that bullshit with the Patek, wow. Great way to never be worked with again🙌 great epi, great job to everyone!
Keep crushin it team!!
Crushing what? Lose another 100k😅😅😅
You guys should have told them to send you the watch right back and charge them 10k just for wasting your time. Great video guys.
Great episode! Casio great project.
New to your channel. Started watching reels and now subscriber. Great content. I love watches. Don’t know if I will reach this level of purchase as I’m only a Fireman. Keep it up
At the end of the Um let’s call it seven misticts story guy the way he said “I mean the boutique is just horrible”😂 it’s like it summed the whole thing up😂
@T.el.egramGreatRomanSharf huh
that escape II you got on your wrist is fire !!
Why is anyone still accepting checks in 2023?
I get it for elderly people to pay utilities etc but for $100k purchase?
Wish you would have included a pic of the Patek in question. You usually show a pic of any watch you are talking about. Thanks
@RomanSharf6824 Is it the cancelled check?
I've never heard of you until this video, and I loved your no bullsh*t response to this guy
I’ve never heard of this company either and loved it. It reminded me of when I moved high end cars.
Back to good videos thank god..previous ones have been shocking..
I love the new style episodes not the old type.
I had one of those Casio titanium watches, recognised it instantly. Cool what you did for the guy.
I need to receive 99.999999999% payment before sending out a watch. 🤣🤣🤣
i would love and update on what happened with the wire if he ended up paying or if he delayed it even more
Yo Dave in those blue glasses is mood all summer
Wire transfer. Or, let the check clear. Never take structured payments...if you take a payment, then in a civil dispute, they consider it a loan, not fraud.
Crazy people crazy world. Everyone thinks they are so smart. Great job Roman
Awesome as always will not have the money in my lifetime as I'm a police officer in Scotland but love your channel big love and respect from Scotland ❤
The youngin from Montreal killing the game ! Marco tu vas être un monstre de la vente dans quelques années !
Merci beaucoup!! 👑🙏
Why was there no update on the outcome of this? Did they receive the wire transfer on Friday or not?
the musical choice of "lo-fi in London".... and every time I hear it I think of my videos on my actual channel and how I've used it every video so it was like a trigger to be like....this isn't my video hahaha
~smirk~ A watch? What's this; The 90's?
Great drama that ended all good in the end👍
A watch flipper getting mad at a watch flipper for flipping watches. Too funny.
I’d never do business with those guys again. Rude and full of crap. But hey they got the watch so screw yall. I deal with it in the commercial hvac business as well. Tell them the bottom line and keep it moving. Great video!
The guy just could have admitted he had no knowledge that Patek did that with the strap and that would have been the end but he kept it going as if he didn't make the mistake...
That was a nonsense excuse. He was trying to get better terms like paying in monthly installments.
So much energy.
Outstanding 🎉
I would like to see some of the Jacob & Co watches in your videos ,, astronomy revolution , scarface ect.. love the videos guys
Even though he was wrong. But....Bravo for the customer not letting over talk him.
🔥
imagine having multimillion dollar business selling a product secondary, just because the manufacturer refuses to meet the demand of the product? amazing
The fact the product can be found secondary, still new in someones personal safe, means they manufactured enough. This isn't a manufacturer issue.
Then go try to buy any Sport Rolex you want at a Rolex store. You can't. Gotta go to secondary or wait years? @@-Jason-L
Peter (Jim) is great, that old Casio Diver watch restore is very clever, so cool. Marco is funny and he's wearing the very cool MR-G.
Good eye! 🙌
@@MarcoFerranteWatches Great videos I do find very interesting.
Man people are sleeping on the MR-G line from Casio. I own the 40th Anniversary MR-G and it's a work of art.
@@69pslim I think you're right the MR-G line is something else.
I would not sell anything to that dealer without payment up front at this point. they are completely untrustworthy.
How about just not selling them anything at all...
@@wristwatch-trader7237 because you completely take away the option to make any money from these guys
They are just as bad for cutting the watch strap. Only a scammer does something like that. It is not acceptable to cut the strap on a $100K watch, the customer had a legit reason to think they were getting a fake. No legit dealer would cut the strap.
If the guy did that with a cheque in Dubai he would be instantly arrested and tossed in jail until you received the 100k and any consequential costs.
No court? Sounds shitty.
Where's half the sales team? Chris, Nick, Sabina?
Fired a while ago
@@FlakstingWhy?
Every week with the where is etc etc etc who cares they were fired get over it are they your personal family or friends
@@GulfportHooliganwhat's up with the scamming thing ?
It's been a few month that I haven't followed them .
Oh stfu w this crap 😂 its a business people come and go.
Yesssss the show is back!!!!
When any watch flipper/dealer tells me "we cant give you a better price ...the margins are very low" ...just look at this video
Just stumbled upon this channel. The band was cut? Not comprehending why. But great video.
Anna looking fit with the curls!
I would not be comfortable shipping a watch that valuable through the mail
You can always tell when someone is trying it on when they try to complicate the simple.
Years ago I sold a car for $100k. The buyer transferred $5k, then showed up to pay the difference with a chq. I told him that the chq was fine, but I need to clear the chq before I release the vehicle, he agreed. Once it was clear, I called the buyer to arrange pick up of said car.
I find it hard to believe a business such as this was scammed with a chq.
FYI just there 95% of their customers are other dealers not individuals.
In america bouncing a cheque is very, very serious as an offence. In the UK it isn't at all thats why no business accepts a cheque.
Some people will rip you off if you give them a chance. Years back, i was assistant manager at a restaurant. We went through a stage where a lot of people would dine and dash. So we changed our system. Order at the counter and pay straight up. Paying first solved the problem.
That's a felony offense in Florida. The person could go to jail for a very long time. Never allow payments, because you turn it into a civil credit issue instead of theft. Payment in full, or you take it to the DA to press felony charges. In Florida you are entitled to the amount of the check plus 10%.