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11 April 2020, 10:06 AM | #31 |
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I wouldn't do this and see it as an absolute sign of concern for any AD that would even suggest this arrangement. It, to me, indicates they are experiencing a cash crunch. That's the last situation that I want to give my money away at 0% return for an indefinite length of time.
The thing that has me scratching my head is the actual buyers accepting these arrangements. Many say they weren't expecting a call, weren't the best of customers, we far down the list, etc. If that's the case, it means all the people above them on the list refused, and the AD has made it pretty far down its list. Likely with a much shorter list of possibilities if the call recipient says no. I wouldn't give a full deposit with no ship/pickup date under normal circumstances. So there's no way I would now. But, if I were even going to consider it, I'd require a discount. And with the names growing short on the list, I'd quite possibly get one. |
11 April 2020, 10:10 AM | #32 |
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I'd take my chances though
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11 April 2020, 10:30 AM | #33 | |
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Quote:
__________________
♛ 218206 Roman ♛ 116689 ♛ 126710BLRO ♛ 16520 white ♛ 16523 white ♛ 16610 ♛ 5513 Birth Year - ✠ Patek Philippe 5980/1R-001 - AP 26331ST Panda - Panerai Bronzo 671 & 111, Ω Speedmaster 1957 Broad Arrow, Cartier Santos XL - Montblanc TimeWalker Chrono 41 |
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11 April 2020, 10:41 AM | #34 |
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11 April 2020, 10:46 AM | #35 |
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I thought they were safe until reading some of the comments on here.
Thanks for sharing guys. |
11 April 2020, 10:51 AM | #36 | |
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Quote:
Cash, nope. Get a detailed receipt indicating their responsibilities and give a 3mo window. If they exceed it, they give it back. |
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11 April 2020, 11:06 AM | #37 |
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11 April 2020, 06:02 PM | #38 | |
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In the case of a bankruptcy... you will have to chase them for that deposit back. Better to not put any deposit and say you have cash in hand when they have the watch in hand. Sent from my iPhone using Tapatalk |
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11 April 2020, 08:42 PM | #39 |
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For anyone in the UK receiving these calls from WOS group, they are referring payment through a third party and you may NOT be covered under the usual regulations.
https://www.moneysavingexpert.com/ne...oppers-beware/ |
11 April 2020, 09:05 PM | #40 |
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You would be rather foolish putting a deposit down for any watch right now. I would not risk it and if they went under you would lose it all!
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11 April 2020, 09:55 PM | #41 |
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11 April 2020, 10:07 PM | #42 |
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AD’s are audit from Rolex, to be an AD you must prove your solvency. If an AD goes bankrupt Rolex Montres normally should bailout the AD specially those customers who paid a deposit.
Normally luxury brand covers any wrong-doing, I’m talking from my experience. I guess now is the best moment to buy-deposit a Rolex in an AD. Sent from my iPhone using Tapatalk Pro |
11 April 2020, 10:11 PM | #43 |
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If its an AD I would. They are waiting to get back to work like most of us
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11 April 2020, 11:36 PM | #44 |
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My friend put 20k down at ad ($39,350 retail) and I would pay in full in advance because I trust my ad. I also have a great relationship with ad. To me 40k @ 2% interest ain't much but it shows trust. We are taking only $800 interest in an year.
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11 April 2020, 11:39 PM | #45 | |
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12 April 2020, 12:21 AM | #46 |
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Put down a deposit for a DD40, special order in a configuration they didn't have. Had the watch a month later
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12 April 2020, 12:29 AM | #47 | |
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12 April 2020, 12:59 AM | #48 |
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I wouldn’t be doing this right now in the current business environment. It feels like no business is bulletproof. YMMV
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12 April 2020, 01:20 AM | #49 |
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Credit Card -- Charge Back.
I have done it several times when a derilict seller attemted to defraud me. |
12 April 2020, 01:49 AM | #50 |
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I wouldn’t be at all concerned if the deposit was made with an AMEX credit card. They go to the wall for their cardholders.
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12 April 2020, 03:15 AM | #51 |
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"Would you feel comfortable placing a deposit now at an AD?"
Most definitely not, I wouldn't do it. I can´t even be sure that my Rolex AD (a smallish family-owned business) will re-open if and when things get back to normal. At the moment here in locked-down Germany I don't even feel comfortable going to the supermarket once a week! |
12 April 2020, 06:15 AM | #52 |
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Deposit in this market, No Way! Too risky. First you will have to survive this global pandemic. Next, your AD will have to survive the shut down. Then the US economy will have to survive an economic meltdown with way too much debt and paper behind the economy. I think the risks outweigh the gains for just a watch. Be safe!
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12 April 2020, 08:30 AM | #53 |
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12 April 2020, 08:34 AM | #54 |
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Other creditors will be in line ahead of you, so you have to decide how much that bothers you.
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12 April 2020, 08:39 AM | #55 |
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12 April 2020, 08:47 AM | #56 | |
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Quote:
If you are putting down 50%+ on a watch, you have a TERRIBLE relationship with your AD! (The AD has the great relationship, not you! Lol) Yeah, your family has been friends with their family for 3 generations, and blah, blah, blah... But guess what? They don't view you in the same light as you view them! Lol... They either see a poor negotiator, a sucker, the next guy in line, or all of the above. Folks, wake up. You have it completely backwards. |
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12 April 2020, 09:07 AM | #57 | |
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Could you elaborate? I have paid for my new Daytona via the link that was sent through. It doesn’t seem to be through a third party, it seems to be part of their site, running through checkout shopper. On my Amex it’s listed as a purchase from watches of Switzerland. I’m not too concerned about the UKs largest AD going under, but just interested as I though I was pretty savvy with this type of thing. Thanks David Sent from my iPhone using Tapatalk |
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12 April 2020, 09:12 AM | #58 |
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If they are declared bankrupt you will be in a queue. In the course of my business I have crossed paths with a number of clients who went bankrupt while owing me money. In 2008 they were dropping like flies. I have never received a penny from any client that went bankrupt. Once their assets are gone there is nothing. After the administrators, who commonly take eye watering qualities of money/asserts for themselves before inviting creditors to form a queue, the Revenue, Customs, landlords, credit card companies and telecom companies are usually next in the queue. They stand the highest chance of getting something back - if there is anything to give creditors.
Personally I would not go there. Remember, going under isn't always a disaster for the company. It is commonly a planned, controlled, process, undertaken for sound business reasons. And it's at times like this when companies are most likely to vanish. |
12 April 2020, 09:38 AM | #59 |
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12 April 2020, 09:57 AM | #60 |
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A little bit of common sense easily answers the question
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