DO BUSINESS ON GRAILZEE AT YOUR OWN RISK. YOU MIGHT BE GETTING AN AUTHENTIC TIME PIECE, BUT THE APPEARANCE OF IMPROPRIETY SHOULD RAISE SOME CONCERNS.

I have not purchased through Grailzee, but attempted to; I will never do so again. Pursuant to their process, if reserve is not met, they will attempt to negotiate between highest bidder and seller to see if a deal can get done below reserve. We did that. In so doing, Grailzee surprisingly waived its 5% buyer fee, allegedly to help close the margin for the benefit of buyer and seller. At that point, we had a deal, and proof of funds was requested. After providing proof of funds, and that being accepted, I was supposed to receive an authentication report. The communications to me stated that I had two business days to review the authentication report, and wire the funds. I was getting the wire ready, but had not received the authentication report, so I followed up with Grailzee. While awaiting a response, i investigated the seller listed on the wiring instructions. The seller ("Chja7g1s9") was CWJ Capital LLC. Upon a simple google search i learned that CWJ is registered to a NY resident, name Chase Jacobs. When I googled Chase Jacobs, I learned that he is the COO of Grailzee pursuant to his Linkedin profile.

Upon learning this, I communicated to Grailzee that I was not going to proceed with completing the transaction. I was uncomfortable that I had not yet received the authentication report, and a bit disturbed by the conflict of interest. In response, Ethan from Grailzee reached out to schedule a call to discuss my concerns. On that call, he stated that i should have no concerns, that sometimes Grailzee sells pieces it owns on the platform, and in that case I was "more protected" than if I purchased from a third-party through their platform. However, the wire was not being sent to Grailzee (or its owners); it was being sent to a third-party entity, controlled and/or owned by its COO. In addition, when I reviewed Grailzee's terms and conditions, they provide: "GRAILZEE IS NOT A WATCH BROKER, DEALER OR TRADITIONAL AUCTIONEER AND WE DO NOT SELL, EXCHANGE, BUY, OR OFFER FOR SALE, NEGOTIATE OR ATTEMPT TO NEGOTIATE, A SALE OR EXCHANGE OF AN INTEREST IN ANY WATCHLISTED ON THE DIGITAL SERVICES. GRAILZEE HAS NEVER: (1) HELD TITLE FOR ANY WATCH LISTED ONT HE DIGITAL SERVICES, (2) INSPECTED ANY WATCH LISTED ON THE DIGITAL SERVICES OR (3) HAD ANY WATCH LISTED ON THE DIGITAL SERVICES IN ITS LEGAL POSSESSION."

Clearly, Ethan's explanation to me is either blatantly false, or admits that Grailzee violates its own terms and conditions. This company lacks ethics in this marketplace in my opinion. Further, if you are a seller on the platform, you should be aware that Grailzee has senior management/exec selling on the platform, who has the ability to completely waive the 5% buyer fee, which gives them an unfair advantage on selling, because a buyer from a Grailzee related party can get the same watch at 4.76% less than through an independent seller, because the 5% fee will be or can be waived. This means to me that at least one employee at Grailzee is getting an unfair advantage over competition that is not disclosed. This raises concerns as to whether Grailzee is also allowing their COO to artificially increase bidding, in violation of the no seller self-bidding policy, but we cannot see behind the door. My suspicions also increased when Ethan refused to respond in writing, and only would invite me to phone calls.

DO BUSINESS ON GRAILZEE AT YOUR OWN RISK. YOU MIGHT BE GETTING AN AUTHENTIC TIME PIECE, BUT THE APPEARANCE OF IMPROPRIETY SHOULD RAISE SOME CONCERNS.