What does “Escrow” mean?

Escrow is an arrangement in which an independent third party holds the buyer's money until a deal is complete. The buyer pays into escrow, the seller ships the watch, and once the buyer confirms it arrived as described, the escrow service releases the funds to the seller. If there is a problem, the money stays put while the dispute is resolved.

Escrow protects both sides: the seller knows the money exists, and the buyer knows it won't be released until they have the watch. It is different from a middleman, who inspects the watch rather than holding the money, although some arrangements combine both. Escrow services charge a fee and add time, so dealers who know each other often skip it. If you use escrow, make sure the service is genuine and properly regulated, because fake escrow websites are a known scam. Not every marketplace offers escrow, so check how payment works before agreeing a deal.

Example: 'We're new to each other, so I'd prefer escrow. I'll cover the fee.'