My Daytona 116500LN Purchase agreement Contract

[roadster198]

Originally Posted by JR16

So funny ! I mean I’m not lawyer , but no way any of this is enforceable other than the AD being able to hold the warranty card. I think even that is suspect if challenged in a court of law. But kudos to the AD for trying to do something, no matter how silly, to curb the flipper/gray problem


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I completely agree. However when I go in this Saturday to see them I’ll be gently reminding them about it when I discuss getting a new Pepsi.... Which I doubt will make any difference

[V25V]

Originally Posted by 904VT

I have no problem with this. I don't buy watches with the specific purpose to make money or resell. I want the actual watch, not the profit. I'm beginning to seriously doubt some others though as to how much they want the watch vs the profit or hype...

Agree. But doesn't matter. Its your money and you can do with the item whatever you please once you buy it. These dealers creating these "contracts" are also guilty of creating the hype by having customers execute these "contracts". I keep using the " " because I highly doubt they would hold much water if/when used in a judicial process anyhow..... short of the AD choosing to not sell to that person again.

[904VT]

Originally Posted by npalacio

Agree. But doesn't matter. Its your money and you can do with the item whatever you please once you buy it. These dealers creating these "contracts" are also guilty of creating the hype by having customers execute these "contracts". I keep using the " " because I highly doubt they would hold much water if/when used in a judicial process anyhow..... short of the AD choosing to not sell to that person again.

I agree with you in principal about owning once you pay, but Ferrari, Ford (GT example), Patek all do this to some degree with limited production items. I don't think it's anything necessarily unfair for a limited production item.

[RazorD]

Thanks for sharing this.

[duc888]

The question is...who is in this situation in a favorable position? (before signing..)
The AD or the potential buyer?

[mtrunner]

A bit crazy and really not enforceable. You can do whatever you want with it. You may have to wait a year to get your warranty card back but they can't enforce this stupid contract. It would be fun to see them try though especially the part where you have to sell it back to them!

[Chadridv]

OK so a lot to talk about here. I'm curious though, if you come on hard times within the net three years sell the watch back to the AD, what price are they going to give you for it, what do they then do with the watch, and assuming they resell it, how do they come up with the price?

[rollee1]

I'm totally for this, if this should prevent flippers and any persons making a fast buck.
I buy any watch I like to enjoy for a long time, being caught in a price war is unfortunate and unnecessary.
I hope all ADs come up with some sort of agreement, I sign it in a heartbeat.

Back in my days, it only needs a handshake for honoring my word.

[RJRJRJ]

Originally Posted by roadster198

I have no idea if it’s enforceable as I’ve no intention of testing it. It took me three years almost to get it so I’m not giving it up now.

You were on a waitlist one year before it was announced?

[Wcdhtwn]

Originally Posted by samshah

Sorry but is this agreement enforceable? Is the penalty that the OP is barred from future business with said AD if the OP violates the agreement?

It awesome OP got his watch but the one year hold on the warranty cards seems heavy-handed enough, much less signing an agreement. C’est la vie...

In a US court of law I highly doubt it. OP is in Scotland so who knows... The only penalty is the AD won't sell to the OP in the future. I have no idea if this is enforceable in Scotland or if he purchased in another country outside the US. But as there is not financial penalty or forced forfeiture of the watch if terms are violated I can't imagine this would ever go to a court. The whole thing looks like a waste of perfectly good paper and ink.

If there was some violation though, could the AD in Scotland keep the Warranty card beyond a year? I don't think so in this case as it is not listed as recourse for the AD in the agreement. Clearly a lawyer didn't write this. The more I consider the agreement the more it's clearly powerless and useless, so sure I'd sign it. But change the terms on holding the warranty card to a much shorter period. 364 days shorter.

In the US there's no law that says an AD has to sell to a particular customer, and no law that says they can't choose not to sell to a particular customer for any reason. They are selling watches after all, not cakes...

[tyler1980]

Originally Posted by mtrunner

A bit crazy and really not enforceable. You can do whatever you want with it. You may have to wait a year to get your warranty card back but they can't enforce this stupid contract. It would be fun to see them try though especially the part where you have to sell it back to them!

will you get caught, probably not. But, its harder to sell without the card. Rolex is buying secondary watches to track the AD who sold them in the UK for sure, AD will blacklist a customer, Daytonas in some cases have to have the name run through Rolex UK before the AD can sell the watch. If you get caught then the party's over.

One major AD chain has well over 50% of the Rolex market so its also not as easy as going to a different AD when you have burned your bridges with one.

[mtrunner]

Originally Posted by Chadridv

OK so a lot to talk about here. I'm curious though, if you come on hard times within the net three years sell the watch back to the AD, what price are they going to give you for it, what do they then do with the watch, and assuming they resell it, how do they come up with the price?

That's the hilarious part, I guarantee they don't buy it back to you for the price you could get on the free market otherwise they couldn't make any money on it.

[Bok88]

Congrats on your new watch. I don't have any issue signing this kind of agreement . A nice deterrent to curb flippers for us common buyers to afford those hard to get pieces at MSRP. AD just mentioned that they blacklisted one of their regular customer when Rolex found out that He sold his newly acquired DaytonaC. I didn't asked him to elaborate.

[roadster198]

Originally Posted by mtrunner

A bit crazy and really not enforceable. You can do whatever you want with it. You may have to wait a year to get your warranty card back but they can't enforce this stupid contract. It would be fun to see them try though especially the part where you have to sell it back to them!

Thing is I got the watch a day after their delivery so if I go in again this year arond the same time hopefully they’ll have had a nother delivery and I’ll maybe get lucky again

[tyler1980]

Originally Posted by Wcdhtwn

In a US court of law I highly doubt it. OP is in Scotland so who knows... The only penalty is the AD won't sell to the OP in the future. I have no idea if this is enforceable in Scotland or if he purchased in another country outside the US. But as there is not financial penalty or forced forfeiture of the watch if terms are violated I can't imagine this would ever go to a court. The whole thing looks like a waste of perfectly good paper and ink.

If there was some violation though, could the AD in Scotland keep the Warranty card beyond a year? I don't think so in this case as it is not listed as recourse for the AD in the agreement. Clearly a lawyer didn't write this. The more I consider the agreement the more it's clearly powerless and useless, so sure I'd sign it. But change the terms on holding the warranty card to a much shorter period. 364 days shorter.

In the US there's no law that says an AD has to sell to a particular customer, and no law that says they can't choose not to sell to a particular customer for any reason. They are selling watches after all, not cakes...

people sign all kinds of releases in the US. You have to agree not to sue before you go sky diving, you have to agree to arbitration before many companies will hire you, same goes for getting a cell phone or a credit card. All of this you willingly forgo your right to go to court. Purchaser agrees to the terms.

[jb335]

I’d sign five of these for a 500C at MSRP.




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[Gazza67]

I think anything that gets the watches on the wrists of genuine watch-lovers can only be a good thing!

[gt0279a]

Originally Posted by tyler1980

people sign all kinds of releases in the US. You have to agree not to sue before you go sky diving, you have to agree to arbitration before many companies will hire you, same goes for getting a cell phone or a credit card. All of this you willingly forgo your right to go to court. Purchaser agrees to the terms.

True. But, even with signed agreements as you mentioned, it still does mean it is necessarily enforceable from a pure legal point of view.

[V25V]

Originally Posted by 904VT

I agree with you in principal about owning once you pay, but Ferrari, Ford (GT example), Patek all do this to some degree with limited production items. I don't think it's anything necessarily unfair for a limited production item.

But its not really that special..... and look at 911 GT3's these days selling way over retail. It happens and will continue to do so in the market. You do not really see Porsche (or dealers) doing much to change that, besides publicly saying they do not like it.

I have just about had it with AD's these days. I got a call from one locally this weekend while trying to source a SD43. Tells me I need to "start a relationship with them in order to get access to their list". That is a crock of shit. So I need to buy something else that I do not really want in order to buy something I do want? I might as well just buy from a reputable gray dealer and pay the premium!

Oh and who do the reputable gray dealers buy from? AD's who do not have the same position that these other AD's do on who they sell to and what they can/cannot do with it after purchase. If they want to do this sort of thing, then Rolex needs to get on board and make it that way across the board with all dealers. This way, the secondary market will not get access to pieces the average consumer cannot and they become accessible to us peons.

[rkhettry23]

What happens if you get robbed or it gets lost? Instant AD ban? I guess if it's insured you could produce the necessary paperwork, but come on...

[roadster198]

Originally Posted by RJRJRJ

You were on a waitlist one year before it was announced?

I was already on the waitlist for a Daytona with them. I supposedly had my name put on the daytona list the same day I bought my BLNR which was late 2014. When the updated daytona came out I went into check with them about my position only to be told they wouldn’t tell me. From that point and numerous times in and out the AD it took another 18 months until I got it.

I also put this down to pure luck as I was speaking to the watch manager about getting a hulk or black date sub. To which her reply was no chance however would I like a daytona instead

The rest is history as they say

[4vCoupe]

Originally Posted by npalacio

But its not really that special..... and look at 911 GT3's these days selling way over retail. It happens and will continue to do so in the market. You do not really see Porsche (or dealers) doing much to change that, besides publicly saying they do not like it.

I have just about had it with AD's these days. I got a call from one locally this weekend while trying to source a SD43. Tells me I need to "start a relationship with them in order to get access to their list". That is a crock of shit. So I need to buy something else that I do not really want in order to buy something I do want? I might as well just buy from a reputable gray dealer and pay the premium!

Oh and who do the reputable gray dealers buy from? AD's who do not have the same position that these other AD's do on who they sell to and what they can/cannot do with it after purchase. If they want to do this sort of thing, then Rolex needs to get on board and make it that way across the board with all dealers. This way, the secondary market will not get access to pieces the average consumer cannot and they become accessible to us peons.

I just had this exact conversation with the AD in my area. I told them I’m not going to buy something I don’t want just so I can get on their list. I told them I am not going to play their games and I prefer to not buy a watch from them. I’ll pay a premium before I play their game. Maybe it’s time to move on from Rolex? It’s sad but the price on everything has gone nuts in the past year.


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[tyler1980]

Originally Posted by gt0279a

True. But, even with signed agreements as you mentioned, it still does mean it is necessarily enforceable from a pure legal point of view.

im saying you cant sue them to get your card as you agreed to let them keep it for a year... thats come up numerous times as this thread isnt the first. You have no recourse.

They cant do anything if you sell it, but blacklist you. But that's the death penalty for a WIS.

[Chadridv]

Originally Posted by Gazza67

I think anything that gets the watches on the wrists of genuine watch-lovers can only be a good thing!

I don't agree with this blanketed statement.

I'm not trying to say there isn't an issue. I'm not trying to say I'm against figuring out a way to get these watches into the right hands, but this "contract" doesn't make any sense. Way too many potential scenarios that leave you scratching your head.

[Rolexier]

Would never be enforceable your not leasing the watch from them for heavens sakes but if it makes them happy to get you to sign that drivel so be it

[lecorsaire]

Perfectly reasonable. If signing this meant I could go in and buy a white one today I would think about it twice. I hope this starts becoming the norm to weed out resellers who have no actual interest in wearing the watch. I know some people that have been lucky enough to have gotten both white and black ones from the AD just to resell them right away.

[marc12]

Very similar to the non-export agreement I signed when purchasing my Range Rover :P

It's a good thing they're making sure the watch is going to someone who will actually wear it and not flip it.

[lecorsaire]

Originally Posted by Rolexier

Would never be enforceable your not leasing the watch from them for heavens sakes but if it makes them happy to get you to sign that drivel so be it

How does this resemble a lease? The watch belongs to you. You don’t have to give it back or pay the residual to own it. They just state that if you sell this watch before 3 years, they will refuse to sell you anymore desirable watches.
Bottom line: If you don’t plan to profit from the Daytona, there’s nothing to see here.

[sensui]

Not sure why the AD would even waste time with this.....not at all enforceable and the idea of telling someone what to do with their property after purchase is a bit comical. I do not encourage flipping but I won't deny that's what the market has become after Rolex sets the supply situation as such.....they are not naive enough to see things otherwise either, they know exactly what they're doing with the brand and how it "markets' their products.

[Token74]

Originally Posted by tyler1980

if it helps people actually get the watch at retail, then great. Something has to be done... as for the outrage comments which will follow. This will be fun

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