50% deposit at an AD

[WestCoastS]

I would with my AD if the time line was fairly good.

[VegasBaby]

Originally Posted by Extract0r

OP here.
The deposit is fully refundable and I can use my credit card.
Still a bad idea?

Sounds like you're hellbent on doing it even though you asked for advice.....if that's the case, as Nike says, "Just Do It"

BTW......for which model watch?? Did the AD give you a lead time??

[Ironpeddler]

So, after several weeks of trying to establish “relationships” with local AD’s both on-line and in person, one has made an offer to order me a Datejust 41 with a 20 percent deposit. While I prefer a professional model ( Sub, GMT or Sea Dweller) they told me it could be “months or years”. They have offered a 3-5 month delivery on the Datejust 41 but “could be more, could be less”. Anyone have a similar experience and what eventually happened? All comments appreciated.

[Marcjvr]

Originally Posted by Ironpeddler

So, after several weeks of trying to establish “relationships” with local AD’s both on-line and in person, one has made an offer to order me a Datejust 41 with a 20 percent deposit. While I prefer a professional model ( Sub, GMT or Sea Dweller) they told me it could be “months or years”. They have offered a 3-5 month delivery on the Datejust 41 but “could be more, could be less”. Anyone have a similar experience and what eventually happened? All comments appreciated.

Why buy a watch you don’t want. Just go grey.

[sportsfan0704]

Originally Posted by Ironpeddler

So, after several weeks of trying to establish “relationships” with local AD’s both on-line and in person, one has made an offer to order me a Datejust 41 with a 20 percent deposit. While I prefer a professional model ( Sub, GMT or Sea Dweller) they told me it could be “months or years”. They have offered a 3-5 month delivery on the Datejust 41 but “could be more, could be less”. Anyone have a similar experience and what eventually happened? All comments appreciated.

Datejust 41 cannot be ordered unless it’s two tone, and any claim about a timetable should be taken with a grain of salt. There are no timetables.

[Ironpeddler]

I did request a two tone. Everose and oyster steel.

[Ironpeddler]

Originally Posted by Marcjvr

Why buy a watch you don’t want. Just go grey.

I did go grey on my 126613LB. I’m trying to start a small collection.

[sammy11]

Originally Posted by Extract0r

OP here.
The deposit is fully refundable and I can use my credit card.
Still a bad idea?

Which piece are you after?

My suggestion might be to buy on Grey market to actually get what you want on your wrist, then also have your name down with an AD who might get you the piece (maybe without deposit). Once you're piece comes in you just sell the one you bought from GREY - and with any luck maybe not even lose anything. I did this with a Pepsi having waited 18mths without getting one, I bought Grey... fortunately 12mths later one came in to my AD. I sold my Grey Pepsi for what I bought it.

My Only suggestion would be to check your liability with the CreditCard supplier, then ask your AD to give you a window in which this will likely happen. If they say 6-12mths and your card covers for that period; plus you're happy them sitting on your money (banks are giving nothing in interest these days anyway!) - sure, give it a go.

What this also lets you do is get the piece on your wrist and actually decide if you like it - sometimes the hype and chase overrules the piece and you end up thinking it's just... meh! (I did this with the Green Dial Gold Daytona - such an overrated piece IMO. Bought Grey and sold grey 3mths later - no regrets)

[brandrea]

Depends on the AD and the circumstances around the watch.

Are they giving you a delivery date? Is it refundable? How long have they been in business?

Me personally, I would if I had dealt with the AD and felt good about the “deal”.

[Ensign]

Bro - you going to pay half for a non existent item? After 2, 5, …10 years how hard will it be to get your money back? What if they go out of business?

[Tavli3]

Just ordered a blue with diamond dial DJ36 for my wife gave my AD 25% deposit without a second thought. The point being I trust them 1000%. Different situation than OP who has no basis to form a trusting feeling about this AD especially given the circumstances they are tangled up in. I would pass.

Also no timeline given nor did I ask. Again it’s about the trust. I know they will get it as quickly as possible no sooner nor later. So no sense asking when and no sense calling about it either.

So again my advice is if you don’t have full trust don’t do it. You’ll be stressing yourself out the whole time until it comes in!


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[SoylentGreenChi]

I contacted CD Peacock a few months ago about getting a ss 36mm Datejust. I told them the dial and bracelet combo I wanted, and the SA said « I’ll put an order in for you and call you when it comes in, you’re in no obligation to buy it. » Pretty much exactly two months later (this past Friday), that SA reached out and contacted me to let me know the watch had arrived.

Anyway, I’m feeling pretty good about CD Peacock. The SA has been courteous, responsive, and attentive. I have only good things to say. One thing to note: they didn’t ask me for a deposit!

[karteo]

what's the reason for asking a deposit for a hot model that sells like hotcakes?

[sportsfan0704]

Originally Posted by karteo

what's the reason for asking a deposit for a hot model that sells like hotcakes?

It’s the price of getting the store to hold it for you.

[2loaded]

No free loans....

[1665fan]

Originally Posted by bubblesz

How I wish my AD will ask me to put a deposit

Same here….my AD won’t do it

[fania123]

I personally know an AD that I was friendly with since high school that blatantly told me he takes numerous deposits on hot pieces only to use the money interest fee with absolutely no intention of ever following through with the sale. I’m sure he’s not the only dealer doing this and because of this I wouldn’t ever leave a deposit.

[iPPi]

The only reason I think I would pay a deposit is to get a piece transferred from one location to another location (if this is an AD with multiple stores), or if the piece was arriving imminently (i.e., within one week or two) and the deposit was needed to ‘hold’ the piece for me. Otherwise, I’m not paying a deposit.

[4 Aussies]

Originally Posted by russ86

On few occasions I gave 100% deposit so 50% sounds not that bad

Originally Posted by HippoPAPAmus

I know nothing about the AD in question, but I have put 100% down more than once on hard to get pieces. Really comes down to your comfort level with the AD and their solvency if they were to lose AD status.


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I have prepaid in full many times with my AD, he's been an authorized dealer for over 30 years. I get what I want, and he gets paid upfront. It cements my requests and holds him accountable, sure has worked out well for me!!

[kittansett]

AD with multiple Rolex outlets are no longer allowed to transfer merchandise between stores. Rolex monitors it via sales receipt and point of warranty activation.

[Tanalasta]

I believe the deposit puts you on the actual “waitlist” for the watch. Ie. when it comes in, it goes to the person who puts down the deposit. 6 months is waiting for it to be your turn. But depends upon Rolex supply.

I don’t know about your country, but all the AD’s in my state consistently told me they were no longer able to place orders with Rolex. Even for a not in demand lady datejust


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[Casotakar]

I’d definitely put a 50 or 100 deposit down for a watch. I’d give them 6-12 mo depending on watch I wanted.


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[jinikari01]

OP I was just over at Schaumburg CD. SA told me they be in contact if they can found the watch I am after. I thought she was being nice and professional. But I would never get that call. Never did she once mentioned I need to make a 50% deposit. This is troubling, well established AD asking for deposit... SMH. What's next? A copy of our S.S card? LMAO.

[karteo]

Originally Posted by sportsfan0704

It’s the price of getting the store to hold it for you.

I know what's supposed to be. The rational behind this I don't get. Do you think they need that for securing the sale of a hot piece? Like they cannot call the next one in the list to sell it in the next hour or put it in display and watch buyers running for it like in a zombie apocalypse.

I understand the buyer to ask this for having some assurance (if any) that they won't bypass him for a bigger whale or else, but the AD have nothing to be afraid of these days.

Unless you ask for an uncommon and not so...sellable (sic) piece there is no real reason except giving them a loan for a few months which ticks some strange boxes

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[Oxfordian]

Originally Posted by sportsfan0704

It’s the price of getting the store to hold it for you.

No, its the price of lending your money to the store on an interest free basis.

If you have an outstanding relationship with your AD, some people do, then paying upfront for your watch may well get you to the top of the list, but these relationships are rare and probably cultivated over a decade or three.

If an AD wants a 50% deposit to order you a watch with no timescale, walk away.

[Watchline]

Originally Posted by ks58

I'd be fine if it was an AD. But if you're not comfortable, ask other ADs near you about the same piece they're asking for a deposit.

I agree

[rod727]

The purpose of a deposit is to make sure that the retailer is made whole should you default on purchase commitment. If it takes 50% of sell price to make them whole no way would I even consider that. Negotiate down to 10% and you wont feel as bad if things don't work out. I don't care how long they have been in business thats a significant ask and a risk to you.
I would acknowledge need for a small deposit such as 10% but I would also be 100% clear on timing and terms. Once they have your 50% what is there motivation to deliver your watch? They might have several 50% deposits for the same watch depending on their cash flow situation. Regardless there should be a mutually agreed upon time bound exit clause for both parties.

[Sub*Man]

Originally Posted by Extract0r

Question for people in Chicagoland.
How comfortable would you feel about putting 50% down at C. D. Peacock? With the accusation about selling to grey dealers, is there any chance that they lose the AD status?

I have a slightly different take, it depends on the watch. If it was a Sub, ok 4500. Not a major deal. If it was a Platinum Daytona, 35k.. Different story.

Yes you are an unsecured creditor and yes its an interest free loan. There is also the cost of capital, if the market goes up 20% you "lose" either 900 or 7k.

Just a different opinion

[inadeje]

I think that Rolex USA has prohibited this practice. I would be very careful, since ADs cannot order watches, nor do they know what they’re getting in their “surprise” consignments…

[Sub*Man]

Originally Posted by inadeje

I think that Rolex USA has prohibited this practice. I would be very careful, since ADs cannot order watches, nor do they know what they’re getting in their “surprise” consignments…

youve got a hell of a collection sir