AD Full Deposit for Allocation?

[ccaballero]

As previously said, this is not normal.

[SkyJuice]

Originally Posted by oldman2005

i'd be carefull, with the stories of ads gave up their rolex status make sure you can get your money after after a certain wait time. If you have to a wait a year for a basic sub, something ain't right

+1

[TswaneNguni]

Originally Posted by mendoncam

My AD just informed me that I would require to pay for a submariner date in full for an allocation for the watch. is this normal? they said 3-8 month wait

Regards,
Mark

Excellent business principle .Most likely will earn interest on your money for 2 years ,not three months.

Have NEVER paid a deposit or full price for possible allocation.Will never.

You do that and they have you by the balls .

They have what I want,I pay them immediately .That's how it works.I come back for more.

Its getting difficult dealing with ADs these days because there are so many a$$ crawler Rolex buyers.

[Wrist King]

What happens if the dealer does bust ? Your deposit presumably belongs to the receivers. F that.

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[TswaneNguni]

Originally Posted by Wrist King

What happens if the dealer does bust ? Your deposit presumably belongs to the receivers. ck that.

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Or lose their Rolex AD dealership ??

[SS Oyster]

Originally Posted by illiguy

Did a search and found this thread. I was visiting family in my hometown (population of ~ 150,000). I visited a long-standing AD I had some prior history with. I paid in full for a 116500 LN with no guaranteed delivery date, but estimate of about a year. I had no problems doing this for this AD and for the Daytona.

I did this on my credit card for added protection, and have a sales receipt that says "price subject to change by Rolex". This is in the event of a Rolex USA price increase before the AD receives allocation of the watch.

In short, not fussed at all by full payment.

So what are you going to do if they lose their AD license and only offer you store credit on Breitling, Omega and jewelry? Or worse, what if they go bankrupt?


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[SS Oyster]

In CA, a contractor can only take the greater of 10% or $1k for a home improvement. Ok, so a watch is not a home improvement, but there are still consumer protection laws. This is why retailers are NOT allowed to charge your credit card for an online order until the item ships.

So, in light of this, how can a Rolex dealer get away with asking for and taking 100% up front payment before a watch is even sourced let alone manufactured?!?


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[Lifeisarolliecoaster]

An AD said to me they will want a deposit of £2500 for a GMT which they estimate wont arrive until 2023!

[Token74]

No way. 10% deposit is reasonable.


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[illiguy]

Originally Posted by SS Oyster

So what are you going to do if they lose their AD license and only offer you store credit on Breitling, Omega and jewelry? Or worse, what if they go bankrupt?


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I'll dispute the charge to my credit card company. Perhaps this is crazy for most, but this is what I viewed as the best opportunity to acquire the ceramic Daytona at MSRP.

For what it's worth, the AD has expanded and just finished a Rolex suggested renovation.

I respect those who do not see this as a prudent move, but it's a risk I was personally willing to take.

[SlideRacker]

Originally Posted by Wrist King

What happens if the dealer does bust ? Your deposit presumably belongs to the receivers. Fuck that.

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If you think waiting for a SS is tough, try waiting in line with the other creditors.

[CCY]

What I’m wondering reading such experiences and my personal experience where an AD asked a 20% deposit for a GMT...

I can’t imagine that a brand like Rolex doesn’t have guidelines or rules regarding deposits for AD’s, right?

What’s next, shopping around and visit multiple AD’s for the lowest deposit possible?

[illiguy]

Originally Posted by CCY

What I’m wondering reading such experiences and my personal experience where an AD asked a 20% deposit for a GMT...

I can’t imagine that a brand like Rolex doesn’t have guidelines or rules regarding deposits for AD’s, right?

What’ next, shopping around and visit multiple AD’s for the lowest deposit possible?

Brave new world.

[KFP55]

Originally Posted by CCY

What I’m wondering reading such experiences and my personal experience where an AD asked a 20% deposit for a GMT...

I can’t imagine that a brand like Rolex doesn’t have guidelines or rules regarding deposits for AD’s, right?

What’s next, shopping around and visit multiple AD’s for the lowest deposit possible?

FWIW, when I officially got in line for a couple models yesterday, my AD said Rolex would not allow them to take deposits or even place orders on SS anymore. I believe them and would be overly suspicious of any AD telling you otherwise.

[inadeje]

Abnormal practice by this AD.

[SS Oyster]

Maybe you will move up their lust if you give them a free loan for 500% of the MSRP, and they return 400% of it (minus taxes) once they deliver it? Heck, why not give them $1M of which they only pull MSRP plus tax?


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[illiguy]

Originally Posted by SS Oyster

Maybe you will move up their lust if you give them a free loan for 500% of the MSRP, and they return 400% of it (minus taxes) once they deliver it? Heck, why not give them $1M of which they only pull MSRP plus tax?


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Are you having a bad day? You seem quite impassioned about this. It will be ok. I took the risk, so you have nothing to worry about.

[Phudu]

Originally Posted by tng11

Raffi Yorkdale/Square One? Screw their games!

They're the worst to deal with.

[TruthBalance]

Not Normal. Local AD requested the same from me for a LN. I said, thank you but, no thank you. Far to many negative outcomes possible in my view.

[Shdrolex]

Originally Posted by y2jdmbfan

Don't do it. I am about to ask my AD for my $3,000 deposit back on a D-Blue Deep Sea James Cameron. I'm going on 7 months waiting.

Which AD is this in Illinois?

[dwjez14]

Originally Posted by mendoncam

My AD just informed me that I would require to pay for a submariner date in full for an allocation for the watch. is this normal? they said 3-8 month wait

Regards,
Mark

Crazy. I have never inquired about a sub date and I just did. My AD told me that it shouldn’t take to long to get in. No deposit but I have bought 5 other watches in 4 months so I guess that helps

[mike2k]

If it helps at all I did that full payment thing for a sub at square one and I got it in 3 months. (summer 2018). If you do do this keep on them to make sure you get it. I dealt with Joanne. I didn't get a good feeling from a couple of the other sales people there.

I usually wouldn't trust this full payment thing but I rolled the dice since it is a Rolex only boutique.

I do believe the Toronto market is a bit tougher in today's market. I went to RDV yesterday and they had nothing in stock and them playing the usual games you hear about on this forum. Last year spring I walked in they had a black GMT and sea dweller in stock on display.

My friend asked about the GMT at Yorkdale and they said they could get it for him if he bought a datejust first.

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[Hollie_Rollie]

Putting down 50% got me a BLNR and ND sub in 1-2 months at my AD. I plan on doing it again for the Hulk. Putting 100% down would be a bit much imo

[rod727]

I always thought the point of “a deposit” on an item is to minimize the risk and in case the buyer defaults the seller is compensated for damages. The point being what damages would the seller be incurring in this case on an item that is admittedly scarce and in high demand ?

[HorologyK]

Anyone who puts down a deposit for a watch is a complete fool.

[TruthBalance]

I'm going to resurrect this thread with a caveat to keep the Deposit discussion in one thread.

Would you give an AD a 20% refundable deposit for them to place an order with Rolex? This would not be for one of the current popular SS models per se, so open for ordering.

[Khans14]

I wouldn’t. You could try telling them your actually buying for a friend K. Leonard as a gift and so if that moves the wait time up. I suspect that name had some clout around there today.

[Calatrava r]

To get on a real list it may be coming to this, sad to say.

[TruthBalance]

Originally Posted by Khans14

I wouldn’t. You could try telling them your actually buying for a friend K. Leonard as a gift and so if that moves the wait time up. I suspect that name had some clout around there today.

Originally Posted by Calatrava r

To get on a real list it may be coming to this, sad to say.

To clarify, not a Wait List situation but one, like a DateJust 41, that the AD states they can place an order for and actually get it in a few months.

[vinteloz]

I thought it was pretty standard to give a refundable deposit for the AD to place an actual order, not for just putting your name down on their "list." I was told that some watches can be ordered but most cannot. Also, timing is all over the place...could be 2 weeks, could be 6 months.

So the more I think about it, the more it sounds like they are just adding your name to a list...lol