ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX
16 November 2018, 11:09 AM | #1 |
"TRF" Member
Join Date: May 2009
Real Name: John
Location: Midwest
Watch: 5513,1675,216570
Posts: 1,465
|
Has anyone lost a deposit from an AD that folded?
There is another thread asking whether potential buyers were required to leave a deposit to be put on a list. Just wondering if anyone has been burned.
|
16 November 2018, 11:48 AM | #2 |
"TRF" Member
Join Date: Nov 2018
Real Name: Robert
Location: Buffalo
Watch: DJ41
Posts: 127
|
|
16 November 2018, 03:39 PM | #3 |
"TRF" Member
Join Date: Sep 2018
Location: Australia
Posts: 809
|
Just went to Kennedy (Australia) filled out a wait list form, no false promises, excellent service, got a lovely compliment on my current Rolex and NO DEPOSIT. I would never leave a deposit as that is not my style, however I would also not even pay 1% kickback to receive a watch ever. However I’m not a reseller or an obsessed supply and demand guy, I’ll wait for my new one until they call me (maybe 2 years down the track if ever)
|
16 November 2018, 04:23 PM | #4 |
Banned
Join Date: Oct 2018
Location: MAGA2020
Posts: 242
|
Credit Card
|
16 November 2018, 05:00 PM | #5 | |
"TRF" Member
Join Date: Sep 2008
Location: USA
Posts: 8,800
|
Quote:
And if you want a SS ceramic Daytona, you will never get one. Sent from my iPhone using Tapatalk |
|
16 November 2018, 05:12 PM | #6 |
Banned
Join Date: Apr 2015
Location: United States
Posts: 2,410
|
subscribed....now this is thread I'm interested in learning.
|
16 November 2018, 05:15 PM | #7 |
Banned
Join Date: Apr 2015
Location: United States
Posts: 2,410
|
|
16 November 2018, 05:21 PM | #8 |
Banned
Join Date: Jul 2011
Location: Oregon
Posts: 5,150
|
|
16 November 2018, 08:06 PM | #9 | |
"TRF" Member
Join Date: May 2018
Location: Sydney
Posts: 51
|
Quote:
|
|
16 November 2018, 08:42 PM | #10 |
"TRF" Member
Join Date: Jul 2016
Location: Michigan
Posts: 4,561
|
A deposit is what you pay when you order a car with an unusual group of options, a Tshirt with your cat's picture on it, or a diamond Datejust. A deposit is money paid to protect the dealer from getting stuck with something that will sit in his showroom for 3 years and eventually sold at a discount.
It's not a deposit if it's for a hot SS model that will sell in 30 seconds to someone else if you flake out and don't want it. It's an interest free loan you are forced to provide your dealer. It's just another revenue stream for the business. And I'd do it too if I owned an AD. I'd charge for the Diet Cokes too... and people would line up to pay it. |
16 November 2018, 10:02 PM | #11 |
2024 Pledge Member
Join Date: Feb 2010
Real Name: Neil
Location: UK
Watch: ing ships roll in
Posts: 59,230
|
Don't think I've ever read of a case in my time here, and this fear comes up a lot.
|
16 November 2018, 11:52 PM | #12 |
"TRF" Member
Join Date: Mar 2018
Real Name: Larry
Location: Finger Lakes
Posts: 6,007
|
Merchants go bankrupt with customer deposits on hand all of the time. The deposits are essentially unsecured loans. If your AD goes belly up, you get on line and wait to see if there's anything left after the secured vultures get theirs.
|
17 November 2018, 12:25 AM | #13 | |
"TRF" Member
Join Date: Jul 2006
Location: USA
Posts: 953
|
Quote:
This. Years ago I put down a $9500 cash deposit on a Lange for my wife. A couple months go by, no watch but plenty of excuses. Finally called Lange NY and they had no record of a deposit for an order to be shipped from Germany. Went back to the AD and forced them to give me a $9500 credit towards another watch in their case, which they did. Within a couple of months, Chapter 7 liquidation. I was lucky, Rolex was not as they were stiffed by the AD, too. Alpha Omega in Cambridge, MA for those wondering. Sent from my iPhone using Tapatalk
__________________
PLVS VLTRA |
|
17 November 2018, 12:30 AM | #14 |
"TRF" Member
Join Date: Mar 2018
Real Name: Larry
Location: Finger Lakes
Posts: 6,007
|
I'll bet dollars to your donuts that these deposits go right into the ADs' operating budgets (it's spent). Certainly not into any sort of escrow, etc.
|
17 November 2018, 01:30 AM | #15 |
Banned
Join Date: May 2012
Real Name: CJ
Location: Kashyyyk
Watch: Kessel Run Chrono
Posts: 21,113
|
|
17 November 2018, 03:19 AM | #16 |
"TRF" Member
Join Date: Nov 2018
Real Name: Robert
Location: Buffalo
Watch: DJ41
Posts: 127
|
Stupid me, I paid for my entire watch up front with the hopes of getting it faster. Been 3 months. My local AD has been in business for over 20 years, but still interesting to know what would happen should they fold. Sent from my iPhone using Tapatalk |
17 November 2018, 04:16 AM | #17 |
2024 ROLEX DATE-JUST41 Pledge Member
Join Date: May 2010
Location: USA
Posts: 1,076
|
An AD local to me that I've done a lot of business with recently lost their Rolex account. I got a phone call when it happened and they promptly refunded my Daytona deposit. I was just disappointed to loose my spot for a 116500.
__________________
Instagram: @wiswrist |
17 November 2018, 04:29 AM | #18 |
Banned
Join Date: Jul 2011
Location: Oregon
Posts: 5,150
|
I know. I commented in your thread about it. What are you intending to do?
|
17 November 2018, 05:52 AM | #19 |
"TRF" Member
Join Date: Nov 2017
Location: Europe
Posts: 5,635
|
I guess less likely to go bankrupt than to lose their AD status for Rolex. In that case I would expect a full refund to be quickly forthcoming
__________________
“My tastes are simple; I am easily satisfied with the best.” ― Winston S. Churchill |
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | |
|
|
*Banners
Of The Month*
This space is provided to horological resources.