Incoming....maybe (request for advice on due diligence)

[530ExplorerII]

When vacationing in the Caribbean this summer I went to an AD and put my name on a list for the Hulk. The gentlemen told me it was about a 3 year wait list and that was only about 8 months ago. Got a call from someone who had my info from the area claiming they were the AD and asked if I wanted it. Only catch is that they will not ship, so I have to pick up. I guess things could be worse than an ad hoc trip to the Caribbean.

I went on Rolex's website and got the phone number for the AD's site. I called them directly (different number than I was called from) and spoke to a gentleman who verified the name of the woman who called me and then passed the phone over to her. She sent pictures and the wire transfer info reflects the name of the AD.

Does anyone have any other thoughts as to anything else I should be doing to verify the legitimacy of the transaction?

Even factoring in the trip out there, it's a great deal. I'll end up paying Rolex's MSRP, no duty and $120 USD in bank fees for the AD.

Appreciate any other thoughts on this transaction.

[dukie748]

Can you not leave a small deposit, then fly out there to collect and pay the balance?

[Phooi]

Sounds like you did the math. Only risk is that they sell the watch before you arrive. Lock that down and have a nice trip!

[530ExplorerII]

Originally Posted by dukie748

Can you not leave a small deposit, then fly out there to collect and pay the balance?

Unfortunately no. I asked about that when I put my name on the list. They said if I get the call they would give me a reasonable amount of time to wire the money (~1 day) and then it goes in the safe until I pick it up.

If I don’t purchase when they call, they just go to the next person on the list.


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[Nerdywatch2]

Originally Posted by dukie748

Can you not leave a small deposit, then fly out there to collect and pay the balance?

I agree with you

[Mr. Miami]

I mean I can see the concern for paying for it ahead of time. But if you called the AD and got the number from Rolex website, then you should be good. Let us know what happens.

[vletnguyen]

can you do credit card over the phone? that would seem safer.

[kieselguhr]

Congrats! New watch and a Caribbean vacation sounds awesome! Are they specifying a wire transfer? Will they not take a card?

[904VT]

Why not allowed to use a credit card? Or at the very least a bank atm card as debit with some recourse.

[530ExplorerII]

Originally Posted by 904VT

Why not allowed to use a credit card? Or at the very least a bank atm card as debit with some recourse.

Only options were a 3 day hold for in-person transaction (cash, CC or debit) or cash wire transfer with an indefinite hold once funds clear. Due to work commitments the soonest I can get out there is 2/15 so the 3 day hold was not an option.

[glamorama]

If you called the AD from Rolex website and find them to be ok after some Google DD I don't see why not.

[DaVinci Watches]

I would say go for it! They probably prefer wire transfer for security on their end. Maybe you can ask them to text pictures of the watch?

[Handey0465]

define hype:---buying a round trip plane ticket to pay full MSRP...

[904VT]

Originally Posted by 530ExplorerII

Only options were a 3 day hold for in-person transaction (cash, CC or debit) or cash wire transfer with an indefinite hold once funds clear. Due to work commitments the soonest I can get out there is 2/15 so the 3 day hold was not an option.

I see. I assume maybe because the other transactions could be cancelled. Regardless I'm sure they wouldn't have much trouble reselling if that happened. Good luck if you decide to pull the trigger on the LVc. For due diligence, I'd look thru the financials of the AD if publicly owned and released, if not try reading local business journals to see how vibrant the business. If in the small chance they shut doors before you picked up, you would just be in line with other creditors, behind senior secured debt etc.

[eteokles]

Originally Posted by Handey0465

define hype:---buying a round trip plane ticket to pay full MSRP...

And then discovering a week later that you don't care for the shade of green.

[ArtNouveau]

Tough crowd here. If you truly WANT the watch and can afford the trip to get it, sounds like an adventure to me!

[530ExplorerII]

Originally Posted by Handey0465

define hype:---buying a round trip plane ticket to pay full MSRP...

I travel a ton for work and it's only 20k miles for round trip with crappy routing. The time sucks more than the cost. Fingers crossed for an upgrade.

[530ExplorerII]

Originally Posted by 904VT

I see. I assume maybe because the other transactions could be cancelled. Regardless I'm sure they wouldn't have much trouble reselling if that happened. Good luck if you decide to pull the trigger on the LVc. For due diligence, I'd look thru the financials of the AD if publicly owned and released, if not try reading local business journals to see how vibrant the business. If in the small chance they shut doors before you picked up, you would just be in line with other creditors, behind senior secured debt etc.

They're a major AD with over 25 locations and have been in business for nearly a century. Not too concerned about shuttering, just wanted to make sure that the person I'm communicating with is who she says. They sent additional pics of the watch, box and warranty card along with my name and today's date written on the business card of the AD within 5 minutes of me requesting it. Wire sent and flight booked for next week!

[envuks]

Seems like you’ve done the proper due diligence to ensure safety. I’d say go for it and enjoy the trip! Maybe stay a few days on the beach to treat yourself

[mjr2000]

i don't see any risk here. If you want the watch, wire it and go get it. You already checked it's legit so i don't see where there is any additiona need for a discussion ???

[ap1]

Happy Valentine’s Day!

[Nikrnic]

What a great excuse for another vacation!!! Enjoy!...


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[Steerpike999]

Go for it, great story to tell once you have it on your wrist.

[530ExplorerII]

Originally Posted by mjr2000

i don't see any risk here. If you want the watch, wire it and go get it. You already checked it's legit so i don't see where there is any additiona need for a discussion ???

I wasn't sure if anyone might have other ideas as far as things I might be able to do to verify or if someone had advice/warning. If someone had been in a similar situation, taken the steps mentioned and was burned and could offer insight, I'd love to hear it. I purchased my BLNR in a similar way, but that was only a few states away and they actually shipped it to me before I wired the $....which was crazy. The $ is wired at this point, so hopefully I've covered my bases.

[AJM914]

Sounds like a fun trip! Keep us updated and Congrats!

[Pantheon]

Originally Posted by Handey0465

define hype:---buying a round trip plane ticket to pay full MSRP...

Well with the tax savings that's actually enough to pay for a cruise to the carribean from NY anyways. I wouldn't actually mind because I don't have to report for work. I'd enjoy the trip there and pick it up if I had the option of course its not always the best option for everyone.

[530ExplorerII]

Originally Posted by AJM914

Sounds like a fun trip! Keep us updated and Congrats!

I get the pleasure of telling my wife tonight. I'm thinking I should probably just surprise her with a Valentines day trip....although not sure she's going to be thrilled with a redeye out on a Friday night, Saturday morning arrival and Sunday morning departure. Going to try for "Up for a spontaneous, quick and fun adventure? Oh hey! Another watch!...that's already paid for! I'm so lucky!"

[matt_Denver]

this is an amazing story, good luck and safe travels. send pics of your Hulk in the Caribbean this weekend, or when you return, please!!!!

[JWD531]

Originally Posted by 530ExplorerII

I get the pleasure of telling my wife tonight. I'm thinking I should probably just surprise her with a Valentines day trip....although not sure she's going to be thrilled with a redeye out on a Friday night, Saturday morning arrival and Sunday morning departure. Going to try for "Up for a spontaneous, quick and fun adventure? Oh hey! Another watch!...that's already paid for! I'm so lucky!"

That's hilarious! Can't wait to hear about your trip.

[Dr.Stu]

Love stories like this! Absolutely sounds like you have your bases covered. Enjoy the (short) trip & remember... pix (on the beach) or it didn't happen! :)