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19 February 2008, 05:52 AM | #1 |
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Is this idea shady?
I know an AD who has some SS Daytona in stock. They won't sell it unless you buy some stuff from them. I was thinking of getting a GMT IIc + some jewelry all worth around $12K. If I can get Daytona from these guys and the re-sell it for small profit (to cover the tax on the watch + a hundred or two for me), would this be shady?
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19 February 2008, 05:59 AM | #2 |
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Well, lots of people do that. It would be your watch, so you are entitled to do with it whatever you like
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19 February 2008, 06:02 AM | #3 |
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There's nothing shady on what you are proposing. I just think it's unfortunate that you just want to buy one to flip it instead of wanting it to wear it.
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19 February 2008, 06:04 AM | #4 |
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19 February 2008, 06:05 AM | #5 |
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I hear that happens. Silly.
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19 February 2008, 06:10 AM | #6 |
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Not shady at all. If you can make some money on the deal then do so. The demand for that watch allows for the higher resale value. Although a lot of people on this forum would not spend more than MSRP for the Daytona. I paid more than MSRP for mine. I guess I'm just crazy. Good luck.
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19 February 2008, 06:16 AM | #7 |
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It's done all the time...and there is nothing shady about it. Last time I checked, our society was still capitalistic, not socialistic/communistic...so if you're in a position to get a steel Daytona and can make a few $ on it, then do it.
Let someone who's willing to spend $20K with the jeweler to get the watch (your $12K of other purchases + the cost of the Daytona) cast the first stone at you for flipping the watch. And if they don't have the coin to take advantage of the situation as you can...well, that's capitalism isn't it? |
19 February 2008, 06:59 AM | #8 |
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What's shady is the AD holding the Daytona ransom till you pledge your allegiance to them by buying other items first....
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19 February 2008, 07:02 AM | #9 |
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Totally agree with Hydromaroc.
If the dealer won't sell at MRSP I would not be buying from him.
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19 February 2008, 07:03 AM | #10 |
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All of that for a couple of hundred dollars, even several hundred dollars? Hmmm, doesn't seem worth it to me...To each his own.
Besides, if you spend $20K, you'll pay almost $1,700 in sales tax. That would really cut into your "profit".
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19 February 2008, 07:03 AM | #11 |
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Shady is AD's holding back on selling watches to artificially inflate the aftermarket prices and demand... once you buy it you can do whatever your heart desires... you paid for it right?
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19 February 2008, 07:17 AM | #12 | |
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19 February 2008, 07:23 AM | #13 | |
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19 February 2008, 08:26 AM | #14 |
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There is absolutely nothing wrong with buying a product and turning around and selling it for a profit if the market is there..
What I think is shady is AD's salesman selling Daytonas out the back door to a shill at MSRP, and then those in concert with them, selling at a greatly inflated price and splitting the profit.. (If that really does happen) My AD has a floor of 100k to get on their anointed list..
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19 February 2008, 08:30 AM | #15 |
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Shady? Making a buck legally is a long time honored profession. Got to take care of the family. A Rolex watch ain't no kidney.
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19 February 2008, 08:35 AM | #16 |
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But you've got to want the jewellery & other stuff (at the exorbitant retail mark-up) otherwise there's really no point besides you'd have acquired a quickie Daytona that you want to sell
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19 February 2008, 08:52 AM | #17 |
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No, this is not shady. As a matter of fact, I'd be looking to make more than a few hundred bucks
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19 February 2008, 09:12 AM | #18 |
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I am not getting the other stuff just to get a Daytona. I need a couple of platinum wedding bands and I could probably use a GMT-IIc as well :) So, it is not like I am going out of the way to get a Daytona to just flip it. My question was more of the ethical kind. If I have a chance to get it, then why not? I think that people here answered my question already. If this happens, I'll make sure that I am not in red.
I will see what my bottom line looks after taxes and other stuff :) |
21 February 2008, 05:45 AM | #19 |
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Once you buy it, it's your to do with as you like. If you can sell it and make some money why not!
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21 February 2008, 06:39 AM | #20 |
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If you get the Daytona for list price..you should be able to make a couple of grand on it. That should offset the price for the GMTc and jewerly a little....I would do it all day long. Nothing shaddy about it at all. The AD actually deserve it for holding it ransom like that.
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