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16 February 2021, 08:15 AM | #61 |
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So crazy how common this is - I know of a manager at an AD in NY that has been doing this for years with one particular customer. Customer purchases the piece - ships out of state to save tax - has various addresses and names he ships to - splits the profit 50/50 with the manager. Absolutely crazy.
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16 February 2021, 08:20 AM | #62 | |
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16 February 2021, 08:34 AM | #63 |
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This comes as no surprise to me.
But I have it on good authority and as advised by many on TRF that most if not all grey watches come from genuine retail purchasers. So this must be a very isolated incident?
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16 February 2021, 08:49 AM | #64 |
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Rolex AD sued for racketeering and fraudulently selling hot models to gray market
“Breaking: Rolex AD sued for racketeering and fraudulently selling hot models to the grey market ” via @watchville https://api.watchville.co/v2/posts/57832/click
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16 February 2021, 08:52 AM | #65 |
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Someone posted the court filing a few days ago along with the terms and agreement between the AD and Rolex USA. Interesting to see if anything changes
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16 February 2021, 08:52 AM | #66 |
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Wow! I can see the manufacturers moving to more direct to consumer. It pays to play I guess. I can only imagine the overhead at these boutiques and trying to keep the lights on.
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16 February 2021, 08:54 AM | #67 | |
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Anyhow, this AD in questioned used to be my Rolex AD. I hope this lawsuit sheds more light about other AD's illegal practices like tax evasion, racketeering, etc. |
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16 February 2021, 08:55 AM | #68 | |
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16 February 2021, 09:22 AM | #69 |
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Oh goodness I wish this 1st world problem was more reported on by the media. Might actually stop a good % of ADs from doing dealing w/ grey dealers.
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16 February 2021, 09:51 AM | #70 |
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Have you seen this? Major Rolex AD accused of Racketeering and selling into the grey
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16 February 2021, 10:03 AM | #71 |
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This is at least the third thread on this.
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16 February 2021, 10:23 AM | #72 | |
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Happy to wager if anyone wants to take the other side of this. |
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16 February 2021, 10:29 AM | #73 |
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if you want to see direct to consumer, some of the annual reports of others point to growth - including richemont. That being said, i think this is the exception, as dealers are just part of their success.
I do believe that AD staff are in on the idea of selling to others. An AD recently told me that they had never seen even one OP41 since its release. Highly doubtful. Likely went to grays. |
16 February 2021, 10:36 AM | #74 | |
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Later, even what the store management seemed to be involved, the plaintiff still thought she was doing the right thing. Management changed several times and each time she or another person reported the activity. So certainly there is a strong case for wrongful termination. What got me was that they were shipping empty boxes to out of state locations. All of it would have to be provable of course. But I can tell you that based on the complaint, I could see a AG investigation from Illinois for loss of sales tax. They were dealing with a $10 million Rolex sales goal figure. So this would be a significant amount of lost state revenue involved. As far as the lawsuit, the store probably would not want this to go to the extent of depositions. So I see a fairly quick settlement. |
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16 February 2021, 11:07 AM | #75 |
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Some key points that should be emphasized.
-This is a civil case, not a criminal case. No one is going to jail, at least not yet. -This is a wrongful termination case, not a RICO case. She is suing for wages, punitive damages and costs. Plaintiffs argue wrongful termination due to public policy exception and a violation of whistleblower statutes. In order to prove wrongful termination, they have to prove illegal behavior which is why RICO, etc. is all in there. -Her lawyers most likely (99% confidence here) took this case on a contingency. IMO, it’s an extremely solid wrongful termination case. Plaintiffs aren’t going to settle for peanuts. A jury would eat this up. -In regards to criminal charges, the DA surely has a copy of this and is investigating. |
16 February 2021, 11:12 AM | #76 |
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At least.
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16 February 2021, 11:13 AM | #77 |
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This is the fifth lol
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16 February 2021, 11:21 AM | #78 |
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What does this mean?
Neither the US attorney nor any authority that actually has jurisdiction over this matter has not done anything to our knowledge?
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16 February 2021, 11:23 AM | #79 |
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I hadn't seen this article until now. I live in Chicago and know of a local flipper who had a relationship of some kind with the Old Orchard Rolex AD. He lists them on Craigslist and butchers it so badly that you just ignore his posts. There's a new Cermit for listed on CL from this guy. Sorry but it pisses me off.
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16 February 2021, 11:24 AM | #80 |
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Does it really surprise you?
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16 February 2021, 11:24 AM | #81 |
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Ibtl... again.
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16 February 2021, 11:39 AM | #82 |
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Racketeering by US AD with Rolex models
Very interesting article on an AD selling hot models to the gray market.
https://sub.rescapement.com/p/breaki...r-racketeering Sent from my iPhone using Tapatalk
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16 February 2021, 11:40 AM | #83 |
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Lol they are going just delete this thread. From this hour alone, I already seen at least 6 threads gone within mins.
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16 February 2021, 11:41 AM | #84 |
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Not surprised at all. Rolex will claim they know nothing about it and do not support such activity.
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16 February 2021, 11:42 AM | #85 |
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Another thread on the same subject!
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16 February 2021, 11:44 AM | #86 |
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I think this is happening a lot, folks are just getting away with this practice. More reason to have Rolex sell directly to end users via online purchases.
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16 February 2021, 12:19 PM | #87 | |
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16 February 2021, 12:28 PM | #88 |
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I’ve visited that store many times. Used their appraisers and service center over the years and always had great experiences. Sorry to learn it has come to this. I’ve met some of those individuals and hope it works out for them. Terrible they would be treated in that manner. CDP has lost my business.
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16 February 2021, 01:04 PM | #89 |
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I can name 3 ADs in my area that does something similar, hope this case will discourage future activities so that folks can finally buy models they like at retail price.
Also, before the new style Rolex warranty card, if you look at posting from “trusted sellers” here you would see that some of them got their inventory from a handful of ADs. The names are blacked out and sometimes the last few letters can still be seen. Rolex should start targeting those as well. |
16 February 2021, 01:56 PM | #90 |
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I agree with all of you here but it doesn't seem logical for a company to destroy the hype and artificial scarcity they helped to create in the first place. They are obviously doing better than ever and also how much brand reputation damage is really at risk here for Rolex? maybe a few thousand people really care and know what's going on. the average consumer that buys 1-2 watches in their life doesn't care about backdoor AD dealings. All they see is hyped up watches that retain their value.
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Tags |
cd peacock , illinois , lawsuit , patek phillippe , rolex |
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