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Old 10 January 2020, 01:28 PM   #1
singaporepatek
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Reasonable deposit amount

I was going to order a 5212 from my Patek AD and was told delivery within 6 months of deposit because it is special order and the deposit is 50%, which is approximately $16,500. A 50% deposit sounds like a lot. What is normal deposit amount for special orders like this?
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Old 10 January 2020, 01:28 PM   #2
Plastique999
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Hell no!


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Old 10 January 2020, 01:35 PM   #3
Ichiran
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The Singapore ADs don't accept deposits. Are you ordering from other locations?
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Old 10 January 2020, 01:37 PM   #4
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Nope , not me. Just tell them to put you on the list . When the piece comes in they can call you and you will pay in full immediately. If they don’t want to do that - forget it! :-)
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Old 10 January 2020, 01:53 PM   #5
singaporepatek
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Quote:
Originally Posted by Ichiran View Post
The Singapore ADs don't accept deposits. Are you ordering from other locations?


This is from AD in America.
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Old 10 January 2020, 02:05 PM   #6
Fat_ninja
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None of my Payek AD’s in US take deposits for Patek
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Old 10 January 2020, 02:08 PM   #7
singaporepatek
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They claim the deposit is required because Iím placing a ďspecial orderĒ
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Old 10 January 2020, 04:20 PM   #8
golfski
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I personally would give my AD 50% down right now to guarantee me a 5212 within 6 months!
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Old 10 January 2020, 04:31 PM   #9
Russell996
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Never been asked for a deposit for a Patek, once for a Daytona C (20% for 6 months delivery). I thought it was a Patek policy not to accept deposits.
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Old 10 January 2020, 04:37 PM   #10
Erson
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Dont, if u put money, and they say they cant get the watch, it is almost imposible to get ur money back. Deposit $100 is okay
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Old 10 January 2020, 07:11 PM   #11
Codik
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My AD asks for 10% deposit. Think thatís fair. 50% seems high.
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Old 10 January 2020, 07:27 PM   #12
ts3
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I'd have a hard time providing any deposit as I am not in the business of funding ADs or watch manufacturers...

Question to those who have provided a deposit in the past, say on an RM...

Does the money sit in an escrow account, with the AD, or does the AD pass it on straight to the manufacturer? In other words, who has to go under for the customer to lose the deposit?
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Old 10 January 2020, 07:50 PM   #13
Mr Naultilus
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I've never had to pay a deposit, but it's what ever you feel comfortable with

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Old 10 January 2020, 10:08 PM   #14
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20% deposit in Australia for me.
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Old 10 January 2020, 10:14 PM   #15
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No1 likes to give a deposit. If it’s a watch I really wanted and have CONFIDENCE they will deliver than I would leave a significant deposit. Ask if it’s refundable if not delivered in 6 mos or make them write that down.
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Old 10 January 2020, 10:21 PM   #16
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Old 10 January 2020, 10:41 PM   #17
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Iíve never had to give a deposit and canít imagine my AD asking me. If itís an AD you donít have a good relationship with , then I would be suspcious they are going to get you a 5212 within 6 months, deposit or not. With that said, would I put down $1000 to build some trust and show real intent? Sure! $16k- hard pass.


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Old 10 January 2020, 10:48 PM   #18
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Quote:
Originally Posted by ts3 View Post
I'd have a hard time providing any deposit as I am not in the business of funding ADs or watch manufacturers...

Question to those who have provided a deposit in the past, say on an RM...

Does the money sit in an escrow account, with the AD, or does the AD pass it on straight to the manufacturer? In other words, who has to go under for the customer to lose the deposit?
Any deposit paid goes into the retailer’s bank account. Liability rests with the retailer, no-one else.
Suppliers often work on a 30 day invoice, which only comes into effect once purchases have been processed and dispatched.

Only put down any amount that you’d be willing to potentially lose.
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Old 10 January 2020, 10:51 PM   #19
Fat_ninja
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Just be careful with the big AD that begins with a T. They did that in Vegas on my daytona... I pulled my relationship and went to Boston. No more deposits

Don’t let them string u along... unless the manager is taking the deposit I’d take my deposit back unless it doesn’t bother u . They won’t go bankrupt
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Old 11 January 2020, 12:29 AM   #20
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Hereís the thing - Deposits at ADs make about as much sense as off-road tires on a Ferrari. ESPECIALLY 50%. That is completely absurd. Even if itís for a super hyped up reference (which honestly what reference ISNíT these days...) why not just ask people to pre-pay 100%? (Because that would have to be backed by a guarantee)

I would be very hesitant. And if I even considered, Iíd make sure that it is 100% refundable - regardless - and for ANY reason - like I changed my mind.

Iíve heard of SAs in my ADs taking like 500$ from customers- to hold a place in a line if multiple SAs are ordering the same reference - or to lock down the next one that comes in...

Iíve even offered to 100% pay for my watch before it came in - and they said, nope. Not necessary.

Just my .02


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Old 11 January 2020, 03:50 AM   #21
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My AD asks for 20%


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Old 11 January 2020, 03:59 AM   #22
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I paid $2k on a 5726. I’d be fine with any deposit as long as timed to a certain delivery timeline. Say under 1 year.
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Old 11 January 2020, 04:31 AM   #23
singaporepatek
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When I asked about timeline they said no guarantee.
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Old 11 January 2020, 04:37 AM   #24
Fat_ninja
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Quote:
Originally Posted by singaporepatek View Post
When I asked about timeline they said no guarantee.
U didnít work with a manager. The sales associate just wants to make it look like he sold something.
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Old 11 January 2020, 04:41 AM   #25
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I've never paid a deposit for the 4 Pateks I've purchased through US ADs. Just paid in full upon purchase.
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Old 11 January 2020, 06:20 AM   #26
Apheaven
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U didnít work with a manager. The sales associate just wants to make it look like he sold something.


^This


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Old 11 January 2020, 08:54 AM   #27
np2016
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I've never put a deposit down for any timepiece I have. Most I would ever put down is 1k on my credit card.
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Old 11 January 2020, 08:54 AM   #28
Calatrava r
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Fifty percent seems high but this is a hard to get watch at the moment ( I think). If you can reach a good comfort level with the store and want the watch, go for it.
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Old 11 January 2020, 10:57 AM   #29
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I never pay any deposit, with the exception of independent watches that are made to order. Even for those cases, not more than 15%.
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Old 11 January 2020, 11:15 AM   #30
Fat_ninja
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Quote:
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I never pay any deposit, with the exception of independent watches that are made to order. Even for those cases, not more than 15%.
RM requires full deposit. :(
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