Payment methods explained
Sellers can choose to accept payment for their watch in one or more of these three ways.
For buyers, please see the "Pricing & payment" section of the watch's listing page to see which of these the seller accepts for the watch. Successful buyers will need to pay via one of these methods upon winning an auction.
Trustshare (escrow) - Recommended
Trustshare allows for a simple bank transfer from most banks whilst also providing an additional level of safety to the transaction for all parties. Trustshare acts as a secure middleman. The funds are held by Trustshare whilst the seller receives their watch and is able to inspect the watch before releasing the funds to the buyer.
Upon successfully winning an auction, if you wish to pay via Trustshare you will be asked to transfer the funds to Trustshare via the My Account page. Once transferred, the funds are held securely by Trustshare and are not accessible by the seller, until you (the buyer) approve the fund release.
Trustshare is a third-party service and as such requires user verification before payment is made. Once they have verified you, you do not need to verify yourself again to use Trustshare for future escrow transfers using their service.
Trustshare charge for this service as follows. WATCHDROP do not charge a premium on these fees.
|Watch sale price||Buyers fee||Sellers fee|
|£0 – £1000||0.75%||0.75%|
|£1000 – £3000||0.625%||0.625%|
|£3000 – £5000||0.5%||0.5%|
The buyers fee is added on to the amount they pay to Trustshare when paying for the watch. These fees are in addition to our standard buyers fee of 5% which is taken separately when the auction finishes.
The sellers fee is deducted from the amount they receive from Trustshare automatically.
Funds are transferred by electronic bank transfer before the seller sends the watch to the buyer.
Sellers on WATCHDROP are often established companies that accept card payments either online, in-person or via telephone.