My Daytona 116500LN Purchase agreement Contract

[slillestrand]

So I buy a Daytona 116500LN......decide I don't like it that well for whatever reason.

I give it away to a close family member or friend after a few months.

I walk into AD and give them notice that i did so and ask for the warranty card for the new owner of the watch. Do they withhold the card?

Then I ask to purchase / order a different model. What are they going to say at that point?

I would hope and assume they would be quite happy to sell me something and make a profit on another transaction.

I think in the watch collecting world three years is a long time. Tastes change as well as interests. Make it for a year and call it good. Three years is a long time and a harder sell to the customer. If this was for a year only I think most of us would say fine as we understand why.

If I purchase an item, I should be able to do whatever I chose with it. However, I understand this particular item has it's own issues. Rolex could increase production, but my logic tells me that over time demand will get filled. Same cycle happened on the previous generation of Daytona. Demand will be a function of time on this item unfortunately.

[ttomczak]

Lol, three years! Just too funny, picked up a new watch (Rolex) from my AD, only thing he did was take the stickers off the Watch case...

[RJRJRJ]

Originally Posted by jimcarver

I don't understand what people mean by saying its not enforceable. Since the only repercussion is not being able to deal with that AD again then of course its enforceable since we already know AD's have no problem refusing to sell you a watch.

But I don't see any harm in it. Sign the contract and if, like the OP, you intend to keep it then there is no harm. If you choose to sell then accept you have burnt your bridges with that particular AD. If they all did this it would help to reduce the huge grey market mark ups.

No contract is required for them to not do business with you. Therefore, that clause is completely irrelevant.

[Craigdwh]

The day I sign a contract dictating what I can and cannot do with MY PROPERTY will be a good indicator to never buy again.

Ridiculous, I would never have signed it.

[Teetime71]

Yes, agree that this is lame, BUT I would much rather sign and wait 1 year to get the warranty card at 12.4k than pay 18-19k on the grey...in fact if I got a call today that my AD would do this deal I would. Paying 50% over retail is beyond lame.


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[fastmd]

Very similar to the high end car game, that dealers make you sign such contracts. But, usually for no more than 1 year.

[Valhala]

Originally Posted by fastmd

Very similar to the high end car game, that dealers make you sign such contracts. But, usually for no more than 1 year.

Ford gt40 contracts rings a bell... and the lawsuit against john cena selling his
Before 2 year contract. Imagine being sued by rolex

[Polarbears]

Obviously not written by an attorney.

[topfuel25]

Hope all the ADs implement this and stem out the flippers

[MinMay]

Should we all go on strike? :) . Let's all stop buying for a year...and I'm sure they'll issue an apology when they see sale going downhill. Without customers, they wouldn't exist.

[Jay (Eire)]

If this helps the average watch buyer get the watch she/he wants then it's all good.

[Etschell]

contract isnt even notarized so it isnt enforcable.

quite funny though and i have no problem with it.

[c41006]

As others have said, I get what they are trying to do but it really is very silly.

They say you can't sell the watch for 3 years but they send you the warranty after 1 year. You could sell it any time after you got the card and they wouldn't have a clue so what's the point of wasting the time typing that up?

[MinMay]

The main issue is that Rolex can't meet the demand.

But to tell people how they should own their purchase is just wrong.

It's like...I sell my house to you...and I tell you that you can't sell it after 5 years. It doesn't make sense.

Rolex just need to work overtime. :)

[kneedeep]

Rolex can obviously afford to cut back/ration production and or distribution and therefore make certain of their model watches unofficial "somewhat limited editions". Good for them. We either deal with it or move on.

[brandrea]

Originally Posted by Etschell

contract isnt even notarized so it isnt enforcable.

quite funny though and i have no problem with it.

Like Monopoly money

[Duc5150]

What a joke...I would have walked...I’ve got the cash here in my pocket, are you saying my money is no good here? No worries I saw another piece at your competition that’s on my bucket list...go blow

[RJRJRJ]

Originally Posted by Etschell

contract isnt even notarized so it isnt enforcable.

quite funny though and i have no problem with it.

While the contract itself is trash, it doesn't need to be notarized (assuming it wasn't trash). Do you notarize everything you sign?

[Etschell]

Originally Posted by RJRJRJ

While the contract itself is trash, it doesn't need to be notarized (assuming it wasn't trash). Do you notarize everything you sign?

if its on blank paper like that i would.

i dont sign anything. not even a check.

[Swashplate]

Totally unenforceable. I am sure they bounced this off of Rolex corporate......

[RJRJRJ]

Originally Posted by Etschell

if its on blank paper like that i would.

i dont sign anything. not even a check.

Nothing wrong with that, but it is legally insignificant unless one of the parties wants to deny that they signed it.

[AK797]

Why can't the Americans get some crap like this first for once? Why do we always gotta be first?

[AK797]

Originally Posted by jimcarver

I don't understand what people mean by saying its not enforceable. Since the only repercussion is not being able to deal with that AD again then of course its enforceable since we already know AD's have no problem refusing to sell you a watch.

But I don't see any harm in it. Sign the contract and if, like the OP, you intend to keep it then there is no harm. If you choose to sell then accept you have burnt your bridges with that particular AD. If they all did this it would help to reduce the huge grey market mark ups.

Just depends if this AD is part of the group that controls 70% of ADs in UK, or if OP has local access to other ADs as there is a locals only rule firmly in place now. Big chance this could end all Rolex contact for him in future.

[Net-man]

Originally Posted by MinMay

It's too funny.

What if buyer owns it for 6 months and found out he needs money for surgery....then he can't sell it? Things happen in life....

Rolex is successful today because of the current situation.

Seriously
If not having money is an issue, buying something beyond you means is probably not a good start!


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[RoyalOac]

Not a lawyer here, but couldn't you hypothetically put a scribble of a signature that you just made up then deny you signed it? Unless they have compelling evidence like an HD video footage clearly showing the document and you signing it, it would cost them more time and money to sue you with discoveries, depositions, expert signature analyst to even bother trying to enforce this idiotic contract that they'll just walk away.

[RJRJRJ]

Originally Posted by RoyalOac

Not a lawyer here, but couldn't you hypothetically put a scribble of a signature that you just made up then deny you signed it? Unless they have compelling evidence like an HD video footage clearly showing the document and you signing it, it would cost them more time and money to sue you with discoveries, depositions, expert signature analyst to even bother trying to enforce this idiotic contract that they'll just walk away.

Of course, although you are setting yourself for jail time if they were to pursue it (which they won't). You can sign it, notarize it, fingerprint, chop a lock of your hair, and video tape it, and you'll probably be fine. Just won't be able to buy from them any more, and they might even change their mind on that.

[dannyp]

Originally Posted by fastmd

Very similar to the high end car game, that dealers make you sign such contracts. But, usually for no more than 1 year.

I did have to sign a version of one of these, but specifically promising that I would not export a new car for sale in China (which, according to the dealer, would be illegal anyways). Apparently a stripped down, base model Volvo XC90 goes for around $100k there...

But a VERY different situation overall.

[Bartlette]

I think that the AD hould have attached a GPS tracking device to the watch and required the purchaser to:

- provide his first born male or female child as surety to live at the AD's office
- Put a GPS tracker around the ankle of the purchaser for the next 10 years
- Require the purchaser to return to the AD's office each day at 6am to check in and demonstrate posession of the watch AND bring that days food for the child hostage

The upside for the purchaser would be that after 10 years the child would be a certified Rolex fixer upper.

[Ku5165]

Ive been lurking reading these posts for weeks/months. I've never bought new, I think a grey dealer is the way to buy as long as you don't need the latest greatest.

As much as I believe in free market. If Rolex wants to stop flipping they can do so quite easily. No warranty if your name isn't on the papers.

[Bartlette]

Originally Posted by c41006

As others have said, I get what they are trying to do but it really is very silly.

They say you can't sell the watch for 3 years but they send you the warranty after 1 year. You could sell it any time after you got the card and they wouldn't have a clue so what's the point of wasting the time typing that up?

If any of you know either Swiss or Germans you know that they are sticklers for following the rules.