To get on a list - 50% deposit

[101031-28]

Originally Posted by gradyphilpott

i'll put up 50%, but it needs to be refundable and there must be a guarantee that the next one has my name on it.

The most important part is not the 50%, it's the guarantee of delivery.

x2

[nektar]

Originally Posted by Eric-London

Agreed.

Unless its for a Porsche
And even then its approx 5% (in the UK)

Exactly. They do not need much of a deposit (Porsche).

To me , it is kind of funny that people are getting so desperate to buy a piece of expensive ss jewelry.

[travisb]

I've never had to pay a deposit even when I'm the one who offered to make one.

[Mystro]

I would’ve had fun with him. I would’ve said “no one is actually stupid enough to do this for a watch are they?”.... it’s not a kidney.

[Navarino]

I'd want some kind of guarantee it's refundable and you have discretion on backing out.

I'd also only do something like this if I knew I was going to get the watch within 12 months. I am not totally against paid deposit waitlists if it actually means weeding out random callers/walk-ins from those who really want a particular watch and are willing to pony up cash today.

If the above existed for the new BLRO at my AD they' would already have my 50% deposit

[acpulse]

Originally Posted by tyler1980

i would never pay a deposit w/o a delivery date, period.

Yes but frankly, you're first in the queue and are going to get what you want anyway. The majority of people can't even get put on a waitlist at all for popular models.

Deposit lists on certain models would surely thin the herd (given some of the responses here). I would be glad to put 50% down. If I have the money to waste on full msrp, 50% isn't hurting me. That kind of money isn't ruining investment opportunites either.

[zion_rasta]

Free loan

[SFBAY]

Originally Posted by TonyD

I don't see this as a problem. It shows that you are serious and will cut down on looky loos.

Yes, what he said. I made a deposit for my BLNR and had it in my hands soon after. Deposit shows interest.

[uniqueMR]

Originally Posted by tyler1980

i would never pay a deposit w/o a delivery date, period.

100% agreed.
I placed 20% deposit for LV and BLNR with delivery date of within 6 months. And received within 2 months. My AD rocks :) Relationship counts.

[Old Geezer]

I’d put down the deposit if they guaranteed delivery date or at least a window like “delivery not to exceed 3 months”. I’ve never been asked to put down a deposit even when they were ordering a piece for me.

[Merkaholic]

What if the store goes bankrupt.........hence why I would be reluctant on a upfront deposit without a delivery date.

[calh22a]

Yes I would without hesitation put down 50% if guaranteed time frame and refundable if not delivered by then.

[SS Oyster]

I would rather pay a bit more on the secondary market to have a watch in my hands that pay an AD that may not be there tomorrow (gone with my money). There are other watch brands. This is why I started buying Big Pilots.

[Will1979]

I know the AD, and I’ve gladly paid the deposit. There’s a reason I was once 50,000th (yes, fifty thousandth) in line for Cubs season tickets — it didn’t cost anything to get on the list. Same thing with a lot of ADs now, I’m afraid. For those who are curious, it took me 11 years to get off the Cubs waiting list.

[tyler1980]

Originally Posted by acpulse

Yes but frankly, you're first in the queue and are going to get what you want anyway. The majority of people can't even get put on a waitlist at all for popular models.

Deposit lists on certain models would surely thin the herd (given some of the responses here). I would be glad to put 50% down. If I have the money to waste on full msrp, 50% isn't hurting me. That kind of money isn't ruining investment opportunites either.

im fine with hypothetically AD's taking money for the first few slots on the WL. If the WL has 100 names, 1-5 always have a deposit down. When you get to #5 then you get called to A. Make sure you are still interested and B pay your deposit. Once you are that high the AD has some sort of realistic idea when the watch is coming.

If you have had a deposit down for over 2 years for a Daytona C at this point, that is just ridiculous.

My AD doesnt accept deposits anyway, from anyone.

[|404|]

My AD doesn't accept deposits either. Might be a UK thing.

[superdog]

Ive done this with Omega watches. In fact I’m waiting on 3 right now. Long story.

It doesn’t bother me at all. Although, two of them I’m starting to get a bit annoyed on. Not at my boutique though. Rather at Omega for taking such a long time to deliver.

Sometimes you gotta pay to play.

If you are worried about the 50% liquid being tied up in a watch, I honestly don’t think you should be buying the watch anyway.

Yes. It’s a lot of money. But imho, these purchases should be with disposable money. Not cash you potentially need for something else.

As others have said, this cuts down on the flippers for profit. And it keeps their list REAL. Instead of having their potential customers on 30 lists, now they know you are serious and buying from them.

So it keeps their list real, and small. IMHO, this is the best way for the watch world to proceed.

[artp1085]

I was about to order a royal oak from an audemars botique
in beverly hills. They wanted full payment up front and wanted to charge $200 for shipping and handling. I have had many watches shipped over the years an no one ever charged for s and h. Sent an email to Audemars and hooked up with another botique who did not charge s and h. Apparently audemars is partners with westime and they do what they please. What bs They only wanted 25% deposit and I received watch within a month. Pays to shop around even at botiques

[Wools]

No, it's not normal. Don't settle for it and move onto another AD who will treat you with respect.

[1William]

I prefer a model that eliminates the people that just put a name on a list at every AD and have no stake in the watches. I have a long term relationship with my AD and have a lot of trust in them. For a watch that I want, I would pay for it and have a reasonable delivery time, 30-180 days, on the outside. I would want a complete refund if we went outside of the time, if I wanted. No store credit or other issues. I would also use a credit card with specific ability to handle deposits and charge backs for deposits. I have never had to do the deposit thing but I would believe that the AD could block the cost of the watch against the available credit line on the card. Much like hotels do when you visit and no one is out anything if the deal can not be completed. Just my thoughts.

[superdog]

Originally Posted by Wools

No, it's not normal. Don't settle for it and move onto another AD who will treat you with respect.

And never ever get the watch you want.

Good strategy.

[SG56]

I generally think that this is wrong, but guilty as charged.

Chicagoland is difficult. I couldn't even get on the list where i bought multiple watches, so I put a deposit with someone else.

it's a sad game, but i want the watch :)

[katch]

Originally Posted by 1William

I prefer a model that eliminates the people that just put a name on a list at every AD and have no stake in the watches. I have a long term relationship with my AD and have a lot of trust in them. For a watch that I want, I would pay for it and have a reasonable delivery time, 30-180 days, on the outside. I would want a complete refund if we went outside of the time, if I wanted. No store credit or other issues. I would also use a credit card with specific ability to handle deposits and charge backs for deposits. I have never had to do the deposit thing but I would believe that the AD could block the cost of the watch against the available credit line on the card. Much like hotels do when you visit and no one is out anything if the deal can not be completed. Just my thoughts.

Why not have the deposit placed in an escrow account. Rolex can then monitor the amount of orders and can deliver based on watches that have been sold. This will reduce the gray market game. That said, maybe there is a desire to have this crazy secondary market.

[remz07twos]

Unpopular opinion but it only got this way because guys are calling 10+ ADs to try to get on every list. The AD is not trying to make a quick buck. They’re trying to qualify the client. If the client truly wants the piece they’ll have no issue putting money down. For every list there are several guys who have a few dollars down and probably a guy or two who have given full payment.

There’s no “I’ll give you a down payment if I get the next one.” Because you aren’t the only guy giving a down payment. It’s to insure that the customer is actually serious about what he’s doing. ADs don’t like people who call every store just like brands don’t. This is only happening because of the games played by buyers.

[Busyboy]

Originally Posted by EDL7

Selling hope..

Haha

Indeed

[Wools]

Originally Posted by superdog

And never ever get the watch you want.

Good strategy.

Worked for me!

[ALF61]

Some ADs are using the current status quo to finance themselves. They figure business is slow due to the low supply of some models so why not make financial business with it ? Not ethical but not illegal either.

[acpulse]

Originally Posted by tyler1980

im fine with hypothetically AD's taking money for the first few slots on the WL. If the WL has 100 names, 1-5 always have a deposit down. When you get to #5 then you get called to A. Make sure you are still interested and B pay your deposit. Once you are that high the AD has some sort of realistic idea when the watch is coming.

If you have had a deposit down for over 2 years for a Daytona C at this point, that is just ridiculous.

My AD doesnt accept deposits anyway, from anyone.

Either way they set it up, not much is going to happen when the AD is only getting single digit numbers of a watch per year. For example, if I want an LV and can't even get on a waitlist (which itself doesn't even have a reasonable or guaranteed wait time), how do I know I'd ever get it before they cull the watch? I bought it grey by the by.

My city in Australia has two AD's, so that's not many watches being delivered. When you consider one Australian luxury watch trading group on Facebook has over 10,000 members and climbing, it doesn't look rosy.

Are you looking to sell Tyler? How about I give you 50% of the BLRO and you can give it to me in 2 years.

[J!m]

One condition: they discount the final purchase price an amount on par with the interest I would have gained if I had that money in a typical (average yield) investment.

You want me to tie up MY money so YOU can invest it and make additional profit on it?!? I don’t think so.

[yxc145]

most of the dealers are not taking names or deposit on the hot models like BLRO and Daytona.

If the dealer is willing to take your name down with deposit, like Jim Carrey said, at least there is a chance. You can always ask for the money back if you don't want to wait anymore.