Rolex AD Wire Payments and Unethical Practices

[carlam]

Hi all,

I recently got a phone call from my local AD regarding a watch I wanted. They let me know that the watch will be ready in about a month and for me to send a wire for the payment in full. Is this the norm for Rolex AD's now? Really? Wire payments?

This particular AD is conducting backdoor deals for hot SS watches. Who do you report this kind of activity to? Directly to Rolex? Anyone know the corporate email or phone number?

TIA.

[Rmoor]

What’s the big deal they are selling a watch to you that you wanted why not wire the money and be happy? Seems like everyone in the world has a problem with something these days.

[Bill2e]

Originally Posted by Rmoor

What’s the big deal they are selling a watch to you that you wanted why not wire the money and be happy? Seems like everyone in the world has a problem with something these days.

Well 2 things are wrong with it.

1 - payment in full a month before delivery, I understand a deposit, but not 100%

2- wire payment. You have no recourse if the deal falls apart and you lose all those Amex points.

[KathleenL]

Originally Posted by Bill2e

Well 2 things are wrong with it.

1 - payment in full a month before delivery, I understand a deposit, but not 100%

2- wire payment. You have no recourse if the deal falls apart and you lose all those Amex points.

Really? The first AD I dealt with about getting a Lady Datejust said I’d have to pay in full in advance and it would then take from 3–6 months up to a year before I’d get the watch. He also said there was no way in Hell that I could get the dial I wanted (Sundust stick), so I went to a different AD who got my the watch with the dial I wanted.

[Rmoor]

No recourse how? Your saying you can wire a payment to a business and they can steal your money? I doubt that’s very common with a brick and mortar business unless they go out of business. It’s very simple but most have a hard time accepting it. Buy it the way the business requires or find a different dealer that works on terms you feel acceptable. Let’s not run and cry to Rolex because you lose Amex points. Silly.

Originally Posted by Bill2e

Well 2 things are wrong with it.

1 - payment in full a month before delivery, I understand a deposit, but not 100%

2- wire payment. You have no recourse if the deal falls apart and you lose all those Amex points.

[mfortune042]

Originally Posted by Bill2e

Well 2 things are wrong with it.

1 - payment in full a month before delivery, I understand a deposit, but not 100%

2- wire payment. You have no recourse if the deal falls apart and you lose all those Amex points.

Thanks for the head up

[DubOhio]

Originally Posted by Bill2e

2- wire payment. You have no recourse if the deal falls apart and you lose all those Amex points.

Missing out on Amex points alone is a deal breaker

[brandrea]

Originally Posted by Bill2e

Well 2 things are wrong with it.

1 - payment in full a month before delivery, I understand a deposit, but not 100%

2- wire payment. You have no recourse if the deal falls apart and you lose all those Amex points.

I paid 100% for a special order Rolex in 2017. Watch was delivered a few days later.

Welcome to the forum OP.

[dpt.calvin]

I wired payment in full to my AD in Feb 2016 and picked up the watch a few days later.

[Barada7]

Seems like a logical leap from “wire request” to “selling out the back door”.

[dauster]

Originally Posted by carlam

Hi all,

I recently got a phone call from my local AD regarding a watch I wanted. They let me know that the watch will be ready in about a month and for me to send a wire for the payment in full. Is this the norm for Rolex AD's now? Really? Wire payments?

This particular AD is conducting backdoor deals for hot SS watches. Who do you report this kind of activity to? Directly to Rolex? Anyone know the corporate email or phone number?

TIA.

How do you know about the back door deals ? Just wire the money and be happy. AP does the same for 1st purchase unless you pick it up in person.


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[dpt.calvin]

Originally Posted by carlam

This particular AD is conducting backdoor deals for hot SS watches. Who do you report this kind of activity to? Directly to Rolex? Anyone know the corporate email or phone number?

The Rolex Police, duh.

Their phone number is 1-800-Rolex-Doesnt-Care

If they were selling out the backdoor, why would they be selling to you? Unless you're meeting them at said backdoor.

[padi56]

Originally Posted by dpt.calvin

The Rolex Police, duh.

Their phone number is 1-800-Rolex-Doesnt-Care

If they were selling out the backdoor, why would they be selling to you? Unless you're meeting them at said backdoor.

Have to agree some see things like this on so called social media and the likes of YouTube and they believe everything they see or read there. Cannot see any AD risking his business and livelihood by doing this backdoor nonsense.

[Monty22]

Originally Posted by dpt.calvin

The Rolex Police, duh.

Their phone number is 1-800-Rolex-Doesnt-Care

If they were selling out the backdoor, why would they be selling to you? Unless you're meeting them at said backdoor.

Just spit out my drink


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[DJH1977]

Then let the next fellow have it. This isn't beyond the pale.

[Kowaco]

I just bought a watch from an AD, he called said he had it if I wanted. I went to the store, liked the watch and gave him my credit card and took the watch and left.


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[Tricolore66]

This sounds sketchy to me. First of all, dealers don't know exactly what they're getting a month from now. Secondly, why would they insist on a wire transfer, particularly in-full?

There was as longtime salesman at Champion Porsche in FL that stole over $3M dollars in customer deposits by setting up a bank account that was under a company name that one could easily mistake for the dealership. He was selling early order positions for GT3 models that were supposed to be allocated to those buyers. This went on for over a year. He and his wife were eventually arrested and he received a 6.5 year prison sentence.

https://www.justice.gov/usao-sdfl/pr...heme-involving

If that can happen at one of the most prestigious and respected Porsche dealers in North America, it could happen at a Rolex dealer. The one thing they both have in common are far more demand than product, and buyers who will do most anything to secure one, including overlooking the red flags.

If I was the OP I'd go into the AD and sniff this out a bit more, and then tell them you're going to pay cash.

[Harry-57]

I have wired my AD and other dealers money for watches on occasion.

Buy the seller. If you don't trust them or something makes you feel uncomfortable, even if you can't put your finger on it, do not proceed.

Personally I wouldn't go all PI about it. I'd just pass and move on. You should do as you see fit.

[Fchernyak]

I always pay Amex at AD. Never wire. Even PM pieces


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[burnthesehills]

They likely want wire payment to avoid the credit card merchant fee.

I would go IN PERSON and hand them your credit card and see if they will accept as payment. If they refuse I would personally walk.

If you are certain that they are doing back door deals, I would find another AD to do business with.

[edisonstar23]

Originally Posted by burnthesehills

They likely want wire payment to avoid the credit card merchant fee.

I would go IN PERSON and hand them your credit card and see if they will accept as payment. If they refuse I would personally walk.

If you are certain that they are doing back door deals, I would find another AD to do business with.

I don’t see anything sketchy. All gray dealers mainly work with wires. I think as a store I would also rather work with wires than pay credit card fee and also have the risk of fraud protection. Now, what makes you say they are back door selling? I’m sure it happens, I mean most ADs probably at least had the temptation to sell them at market price. But it’s extremely hard to prove and I would just send the wire and be thankful for your allocation lol


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[burnthesehills]

Originally Posted by edisonstar23

I don’t see anything sketchy. All gray dealers mainly work with wires. I think as a store I would also rather work with wires than pay credit card fee and also have the risk of fraud protection. Now, what makes you say they are back door selling? I’m sure it happens, I mean most ADs probably at least had the temptation to sell them at market price. But it’s extremely hard to prove and I would just send the wire and be thankful for your allocation lol


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The OP said that the AD was back door selling.

I personally would want the protection of paying with a credit card unless I felt comfortable with the AD, which he clearly does not.

[bluestreak]

Originally Posted by burnthesehills

The OP said that the AD was back door selling.

I personally would want the protection of paying with a credit card unless I felt comfortable with the AD, which he clearly does not.

This. A wire transfer if they have a watch in hand is one thing. But if it’s just a deposit they should take a credit card. If they want they can even reverse the charge when the watch comes in and you can pay by wire then. But paying by wire is the equivalent of handing them a briefcase of cash. You have zero recourse if the watch never materializes.

[Doood]

A wile ago I stopped at an AD near Calabasas that required cash/bank wire for some of the hot references. That was two years ago, and they are all pretty hot now.

Their reasoning was to avoid credit card fees. Not sure if still the policy.

[4 Aussies]

The AD gave you the opportunity to purchase the watch you want at MSRP and you don't know what to do???

[Kevin of Larchmont]

Sounds like the OP feels he has two reason not to trust the AD. It also sounds like the OP doesn’t know how to use Google.

[bluestreak]

Does the AD not accept credit cards at all? Businesses aren’t required to accept them. And I’m sure that they don’t want you bringing in that much in cash.


But if they do accept credit cards they are likely violating their agreements with the credit card companies. If you want to report them to someone report them to the visa and Mastercard.

If this were anything other than a Rolex I would expect a discount for a wire transfer. But they likely have 20 people behind you who will do it.

[Oystersteel92]

Originally Posted by bluestreak

But if they do accept credit cards they are likely violating their agreements with the credit card companies. If you want to report them to someone report them to the visa and Mastercard.

If you're talking about passing along the fee, it was long against the credit card agreement and the credit card companies generally enforced that with an iron fist. However, a recent legal decision made it illegal for them to forbade it, so more and more I'm seeing businesses pass it along. I fired my local Ford dealership for doing it, and recently went round with a remediation company regarding the $80 they wanted to charge me for using a credit card. Ended up writing them a check. Feels like the world is going backwards in some ways.

My AD happily accepts credit cards with no complaint or passing of fees.

[miamiclay]

Originally Posted by Oystersteel92

a recent legal decision made it illegal for them

Got a cite for that?

[Grapenut]

Shady, mainly by the advance payment. Beyond that CC charges are a cost of doing business. Accept or don't but not pick/choose what needs a wire.