Purchasing From an AD - The Uninteresting but Important Questions!

[Bxtek]

Hello All,

Relatively new to the forum. I have been spending a lot of time here and I've learned A LOT so far! I've never purchased from an AD before and this will be my first experience. This will be my first Rolex too! I've read a number of threads and I was surprised some of the "games" and behind the scenes things that go on with AD's. Good stuff to know though and I'm definitely happy to have great members on this thread to discuss topics like this!

I am planning to make my rounds to the local AD's in search for a GMT BLNR. If I'm lucky, I may run into one that's available. I am seeing that it's not impossible, as there are a number of recent threads of people who have actually found one. I have no expectations but I'll hope for the best. However, I do need to be prepared to purchase on the spot and these are my questions:

1) How to pay? Do the AD's take a credit card or are they like a car dealership where they do not? If they do take a credit card, do they charge an additional percentage on top of the price to compensate for the fees on their end? Otherwise, how do you pay? I don't feel like carrying around $10K in cash with me.

2) Being that the BLNR is a higher demand watch, do some of the AD's mark up the price above MSRP? Would this be "legal" for them to do this? On the other end of the spectrum, is there any chance of price negotiation on a high demand model like this? I suspect not, but does it hurt to even try to ask?

3) Wait list - I suspect that I will be doing this. From other threads, I see that some have been put on a wait list for up to 1-2 years. I am thinking that I really don't want to be on one with that long of wait. What should be the reasonable time I should hear from them to put my name on their list? I've heard a few getting their watch in only 3-4 months which I would be happy with.

4) Wait list deposit - I've read some AD's don't require a deposit (Probably only from their previous clients), some ask for a partial deposit, and others ask for payment in full to get on the wait list. What is reasonable here? I read one thread in which people were totally against paying in full. I am also hearing that the deposit is fully refundable if let's say for instance, I find one in stock at another AD that I end up purchasing? Or, do some AD's charge a fee if you don't follow through?

5) Attire - Is there a certain way you need to dress before heading into these places, in order for them to help you and take you seriously? Of course, I won't be wearing my sweatpants, t-shirt and flip flops, but how much do you dress up? I would think just casual but nice clothing should be okay? Something you'd wear to go out to a Sunday afternoon lunch with your family would do?

6) Insurance - I will have never spent so much on a watch before. I haven't heard much about insurance on something like this. Do you guys insure your watches? Is there a special policy or coverage that you take out? If so, with whom? How much does it cost and what are the specific declarations? Or, is there no such thing and you just buy it, wear it and hope nothing happens to it? I don't have expensive jewelry, but I do hear that people do insure their collections if they have a significant one. I suspect watches can also be in the same group?

Sorry for the long winded post, but I just wanted to be prepared and these were the questions that were going through my head. Thanks very much in advance for everyone's help. This is a great forum and I've learned so much already just from being a member! Hopefully I will be an actual owner soon!