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Old 15 September 2018, 09:51 AM   #1
RX0
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Is the deposit for waiting list safe

Hey everyone; in light of the new norm that we need to put deposit for steel professional models, how safe is our deposit being held by the AD. I had read a lot of threads where many members here are required to put deposit on the watches. What happen when an AD went out of businesses?
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Old 15 September 2018, 10:48 AM   #2
justdate
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You would probably lose your deposit in most cases.
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Old 15 September 2018, 10:52 AM   #3
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Unless the money was held in escrow by an independent party and you had a contract covering the business default, you are out of luck.
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Old 15 September 2018, 10:59 AM   #4
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You join the ranks of unsecured creditors, waiting to recover anything leftover after the secured creditors are done picking at the bones.
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Old 15 September 2018, 11:06 AM   #5
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Old 15 September 2018, 11:51 AM   #6
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Old 15 September 2018, 11:57 AM   #7
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For this reason I only leave a deposit with the AP boutique. I don’t trust individual ADs. I am not a bank. If they want a loan they will have to pay me interest lol
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Old 15 September 2018, 12:03 PM   #8
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This has been discussed a lot. The short answer is, it’s a scam at most places. I wouldn’t do it!


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Old 15 September 2018, 12:06 PM   #9
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You'd get double your money back and the watch for free.

Or not.
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Old 15 September 2018, 12:16 PM   #10
RX0
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Quote:
Originally Posted by GB-man View Post
For this reason I only leave a deposit with the AP boutique. I don’t trust individual ADs. I am not a bank. If they want a loan they will have to pay me interest lol
Since you mention about AP boutique, what do you think about the royal oak perpetual calendar in steel and blue dial
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Old 15 September 2018, 12:19 PM   #11
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If the store goes out of business or if there an alien invasion, well...
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Old 15 September 2018, 12:23 PM   #12
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Put your cash with 0$ interest and zero predictability if or when your watch will arrive -- this option is Not for me.
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Old 15 September 2018, 12:33 PM   #13
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Aaaaaaand.........it’s gone.
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Old 15 September 2018, 12:42 PM   #14
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It worked out well for me. Know your seller!!!! Almost everyone said "no." I was one of the first with a SkyD on the wrist however...


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Old 15 September 2018, 12:51 PM   #15
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I have never been asked for a deposit even when an AD ordered a watch for me they didn’t have in the store. I wouldn’t put a deposit down without a agreement on when they would produce the watch or at least a window like “not to exceed 3 months”.
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Old 15 September 2018, 01:01 PM   #16
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Quote:
Originally Posted by RX0 View Post
Since you mention about AP boutique, what do you think about the royal oak perpetual calendar in steel and blue dial
I think it’s gorgeous. I’ve enterained it myself many times but not sure I’d be willing to set it everytime I want to wear it. Would probably need a winder
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Old 15 September 2018, 01:07 PM   #17
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How are all the no folks acquiring SS? Deposits are how it's done no?
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Old 15 September 2018, 01:21 PM   #18
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in that case deposit would been gone.

If the AD just looses the Rolex franchise I hope you can get your money back.
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Old 15 September 2018, 01:34 PM   #19
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Unless the money was held in escrow by an independent party and you had a contract covering the business default, you are out of luck.
Bingo.



Wouldn't recommend a serious deposit unless a third party held the funds.


Your assuming the risk otherwise.
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Old 15 September 2018, 01:36 PM   #20
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It's been completely safe for me to date.
And it's worked a treat
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Old 15 September 2018, 01:47 PM   #21
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I was at an AD today that was asking for full pre-payment to be 3rd on the list for an LVc. I asked what if the watch doesn’t deliver before model changes, discontinuance or lack of availability, he said no worries that I would receive the current model within 9 months. I politely declined.

BTW, I am at a coastal resort city, no previous history, first time in store.
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Old 15 September 2018, 02:01 PM   #22
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Did you see the Florida Porsche dealer that stole 2.5 million in deposits today? Look on the web. It is the biggest Porsche dealer in the USA. Buyer beware
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Old 16 September 2018, 04:18 AM   #23
kepler22
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In the UK pay the deposit by credit card and any problems the credit card company will refund you
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Old 16 September 2018, 04:26 AM   #24
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In the UK pay the deposit by credit card and any problems the credit card company will refund you
12 months later?
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Old 16 September 2018, 04:28 AM   #25
tyler1980
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You join the ranks of unsecured creditors, waiting to recover anything leftover after the secured creditors are done picking at the bones.
this
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Old 16 September 2018, 04:31 AM   #26
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Originally Posted by kirksingleton View Post
Did you see the Florida Porsche dealer that stole 2.5 million in deposits today? Look on the web. It is the biggest Porsche dealer in the USA. Buyer beware
That was a rogue salesman at a Porsche dealer who set up a sham company. It was not the dealership that did it.

Point taken though. I put a 50% deposit down on a Daytona and bankruptcy was my biggest concern.
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Old 16 September 2018, 04:50 AM   #27
tyler1980
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Is the deposit for waiting list safe
its probably safer than the horror you will be faced with after receiving your watch. Cant travel with it, cant do outdoor activities with it, clubs are probably a no go, swimming is ok but only if its a DSSD, and they remove the protective stickers and expose your watch to unnecessary danger.

Nothing is safe and now we can add a deposit to the list


seriously though, with the other dangers you probably still have a watch, so sure an AD going bankrupt and you being without a watch and your money is not that wild of a concern given some context.
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Old 23 September 2018, 03:16 AM   #28
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Bad for business
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Old 23 September 2018, 03:24 AM   #29
beshannon
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Quote:
Originally Posted by RX0 View Post
Hey everyone; in light of the new norm that we need to put deposit for steel professional models, how safe is our deposit being held by the AD. I had read a lot of threads where many members here are required to put deposit on the watches. What happen when an AD went out of businesses?
Ask the AD?
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