50% deposit at an AD

[Extract0r]

Question for people in Chicagoland.
How comfortable would you feel about putting 50% down at C. D. Peacock? With the accusation about selling to grey dealers, is there any chance that they lose the AD status?

[ks58]

I'd be fine if it was an AD. But if you're not comfortable, ask other ADs near you about the same piece they're asking for a deposit.

[Watchline]

Originally Posted by ks58

I'd be fine if it was an AD. But if you're not comfortable, ask other ADs near you about the same piece they're asking for a deposit.

I agree

[Jack T]

Many AD’s are no longer taking preorders, the wait times are unpredictable.

And I can’t imagine this AD you’re referring to will move you up on the list just because you’ve put down a deposit.

Can he guarantee it? No. Can you verify it? No. Those lists are all bs in my book.

[dannyp]

Not sure whether I would or not, but as long as it's refundable, your only real risk is the store going under, not losing Rolex line.

[ks58]

I would say and add that if you're asking this question, you're obviously concerned about it. Being separated from your money without an understanding of a delivery date or expectation is tough to make sense of. Especially since almost every piece sells pretty quickly no matter the price.

[doboy007]

I wouldn’t in this day and age. Too many ADs are losing status and they can’t even order one from Rolex so they’ll just be waiting themselves. Think about it, Rolex watches are selling themselves as soon as they come in so why would a shop need a deposit other than needing the money.

[fsprow]

VERY bad idea.

[sj24k]

I wouldn’t do business with an AD that asked for 50% deposit. I’m open to putting a smaller deposit (10-20%) on my Amex with a reputable AD who I trust and have done business with in the past. (Assuming I have confidence they can deliver what they are promising.)


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[Extract0r]

OP here.
The deposit is fully refundable and I can use my credit card.
Still a bad idea?

[doboy007]

Originally Posted by Extract0r

OP here.
The deposit is fully refundable and I can use my credit card.
Still a bad idea?

Doesn’t matter if it’s credit card if they go under. After some period you won’t get any protection from your card. But it seems like you’re leaning towards it and ultimately it’s your money.

[duquephart]

Originally Posted by doboy007

Doesn’t matter if it’s credit card if they go under. After some period you won’t get any protection from your card. But it seems like you’re leaning towards it and ultimately it’s your money.

"A fool and their money ------------ "

[VegasBaby]

Originally Posted by Extract0r

OP here.
The deposit is fully refundable and I can use my credit card.
Still a bad idea?

Sounds like you're hellbent on doing it even though you asked for advice.....if that's the case, as Nike says, "Just Do It"

BTW......for which model watch?? Did the AD give you a lead time??

[sammy11]

Originally Posted by Extract0r

OP here.
The deposit is fully refundable and I can use my credit card.
Still a bad idea?

Which piece are you after?

My suggestion might be to buy on Grey market to actually get what you want on your wrist, then also have your name down with an AD who might get you the piece (maybe without deposit). Once you're piece comes in you just sell the one you bought from GREY - and with any luck maybe not even lose anything. I did this with a Pepsi having waited 18mths without getting one, I bought Grey... fortunately 12mths later one came in to my AD. I sold my Grey Pepsi for what I bought it.

My Only suggestion would be to check your liability with the CreditCard supplier, then ask your AD to give you a window in which this will likely happen. If they say 6-12mths and your card covers for that period; plus you're happy them sitting on your money (banks are giving nothing in interest these days anyway!) - sure, give it a go.

What this also lets you do is get the piece on your wrist and actually decide if you like it - sometimes the hype and chase overrules the piece and you end up thinking it's just... meh! (I did this with the Green Dial Gold Daytona - such an overrated piece IMO. Bought Grey and sold grey 3mths later - no regrets)

[kittansett]

it's an interest free loan without time limit. Is the AD having cash flow crunch?

[Mystro]

Originally Posted by kittansett

it's an interest free loan without time limit. Is the AD having cash flow crunch?

X2…….Interest free loan is exactly what you are doing.

[4 Aussies]

Originally Posted by russ86

On few occasions I gave 100% deposit so 50% sounds not that bad

Originally Posted by HippoPAPAmus

I know nothing about the AD in question, but I have put 100% down more than once on hard to get pieces. Really comes down to your comfort level with the AD and their solvency if they were to lose AD status.


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I have prepaid in full many times with my AD, he's been an authorized dealer for over 30 years. I get what I want, and he gets paid upfront. It cements my requests and holds him accountable, sure has worked out well for me!!

[Rrpdc]

For what watch ?

[Rrpdc]

Originally Posted by Rrpdc

For what watch ?

Even if they lost ad, they would refund your deposit. That company would exist without Rolex.

[russ86]

On few occasions I gave 100% deposit so 50% sounds not that bad

[HippoPAPAmus]

Originally Posted by Extract0r

Question for people in Chicagoland.
How comfortable would you feel about putting 50% down at C. D. Peacock? With the accusation about selling to grey dealers, is there any chance that they lose the AD status?

I know nothing about the AD in question, but I have put 100% down more than once on hard to get pieces. Really comes down to your comfort level with the AD and their solvency if they were to lose AD status.


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[Extract0r]

C. D. Peacock was established in 1837, survived the great Chicago fire, the great depression, subprime crisis and the corona shutdown. They have 3 authorized dealers in Chicagoland, so chance of them going under is pretty slim in estimation.

I have never bought anything from C. D. Peacock. I bought my first Rolex, the Submariner, last year from Razny but the SA there flat out told me that he won’t sell me any more Rolexes unless I buy jewelry from him. So I need to find a new AD.

[10klakes]

Originally Posted by Extract0r

C. D. Peacock was established in 1837, survived the great Chicago fire, the great depression, subprime crisis and the corona shutdown. They have 3 authorized dealers in Chicagoland, so chance of them going under is pretty slim in estimation.

I have never bought anything from C. D. Peacock. I bought my first Rolex, the Submariner, last year from Razny but the SA there flat out told me that he won’t sell me any more Rolexes unless I buy jewelry from him. So I need to find a new AD.

You should do it… yolo


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[Chiboy]

Originally Posted by Extract0r

C. D. Peacock was established in 1837, survived the great Chicago fire, the great depression, subprime crisis and the corona shutdown. They have 3 authorized dealers in Chicagoland, so chance of them going under is pretty slim in estimation.

I have never bought anything from C. D. Peacock. I bought my first Rolex, the Submariner, last year from Razny but the SA there flat out told me that he won’t sell me any more Rolexes unless I buy jewelry from him. So I need to find a new AD.

FWIW, I've lived in Chicagoland since 1987 and my recollection is that Peacock went out of business in the last 20 years or so and the name was bought by someone else. I don't think they have the 85 year continuous history that the above was implying.

On the OP's question, this was my experience:

https://www.rolexforums.com/showthread.php?t=644939

No harm done with my 50% deposit (which had to be by check), but no gold at the end of the rainbow either.

As many have said, with virtually all pieces selling pretty much instantly, there's no financial risk taken by the AD when they take your order. Also, 50% of retail is about 80% of their cost, so it's pretty egregious to demand that much upfront.

[Mendota]

Originally Posted by Chiboy

FWIW, I've lived in Chicagoland since 1987 and my recollection is that Peacock went out of business in the last 20 years or so and the name was bought by someone else. I don't think they have the 85 year continuous history that the above was implying.

I think the store name is what has been around for 185 years but like you wrote, with a recent ownership change already due to a business failure, that proves anything can happen even with a well established brand name. Guaranteed there are other creditors much higher up on the list who will get paid before you do in a bankruptcy filing. Those dollars are gone if that were to happen.

[Mendota]

Originally Posted by Mendota

I think the store name is what has been around for 185 years but like you wrote, with a recent ownership change already due to a business failure, that proves anything can happen even with a well established brand name. Guaranteed there are other creditors much higher up on the list who will get paid before you do in a bankruptcy filing. Those dollars are gone if that were to happen.

Sweet! Let's see it!

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[Extract0r]

Originally Posted by mendota

sweet! Let's see it!

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Excuse the fingerprints and the date not being set correctly.

[xrole]

Originally Posted by Extract0r

Question for people in Chicagoland.
How comfortable would you feel about putting 50% down at C. D. Peacock? With the accusation about selling to grey dealers, is there any chance that they lose the AD status?

This is only acceptable if it is a VERY short wait. If they have an open-ended waitlist and ask you to pay a 50% deposit simply for a place in the queue then I would politely decline while laughing internally. I am not a interest-free loan service.

[boywithakoi]

Originally Posted by xrole

This is only acceptable if it is a VERY short wait. If they have an open-ended waitlist and ask you to pay a 50% deposit simply for a place in the queue then I would politely decline while laughing internally. I am not a interest-free loan service.

Pretty much this. Did they give you at least a rough idea of the delivery date? I don’t know if I’d let an AD hold onto my money for a watch “sometime in the future”.

[Gab27]

Personally I would not without an ETA, and with the ways things presently are I don't think an AD is able to provide an ETA. Consequently, I would not be willing to put that much down.