Deposit at the AD

[Pinchy]

Originally Posted by DocHorton

A buddy of mine put down a $5k deposit about a year ago for a YG black dial Sub. He was promised he would receive it by the end of 2021. He still hasn't gotten it, Lol.

Foolish, IMO.

It seems to me that if the amount is sizeable. It may be even DISINCENTIVE to ever deliver you the watch. It's an interest free loan but they have to deliver something of great value to close out the interest free loan? Hell no.

[JR16]

In today’s market , a Rolex AD asking for a deposit is just plain greedy IMO, unless it’s a nominal amount just to thin the crowd. Otherwise they are just borrowing your money interest free, as they know they will sell every last watch even if you change your mind. Personally I would not want to do business w these types of ADs.


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[taylorcummings97]

I personally wouldn't. Unless I completely trusted the dealer

[JohnRogue]

A deposit (often non-refundable) provides a seller with additional security creating an agreement with the buyer to purchase the item. Usually this would be done with custom work or with a "hard to sell" item so if the buyer backs out of the purchase, the seller will not be stuck with as much money tied up, or possibly they could take a smaller loss since the deposit will cover some of the money spent to acquire the item.

Rolex simply does not need to require a deposit as they don't have anything that fits into the 'hard to sell' category. Maybe a gem set rainbow could be considered custom, however, I believe that even these watches will sell easily at retail.

I would take my money elsewhere, and personally I am getting tired of ADs treating us poorly when we want to hand them thousands of dollars that we have worked very hard to earn. Asking for a deposit (or as many others have called it, "a free loan") definitely seems like you are being treated poorly.

[SydR]

When I bought my Sub I got ‘the call’ but couldn’t make it to the store for 4 or 5 days so paid a holding deposit. Balance paid on collection later in the week.

Popped into my AD on the off chance to enquire about a Polar Explorer II and, to my surprise, got offered one there and then. As I was my way out for the evening I ,again, paid a holding deposit and picked it up the following day.

I’d never pay a deposit, though, on something they have got and I would not get for an unknown period of time.

[mykii]

Never asked, would never do.

[straho824]

Not sure

[fed_fan]

Like others have said. Vet the dealer. Have done it 2x - once in 2015 and again in 2021. No regrets but I was very thoughtful around the process.

[Oxfordian]

Based in the UK I have been asked only once to place a deposit, that was 20% as a pre order for a soon to be launched Omega, then I changed my mind and had the money refunded, I have 4 Rolex watches in the house, no deposit was required for any of them.

[DoctorsOrders]

Originally Posted by 1259

Is it common for ADs to require a deposit? How many of you have put down a deposit in the past? Did you find that you got your desired Watch quicker? What is a fair amount to require?

I have heard of a deposit from PM pieces, but not SS

[Sprezzatura!,]

My AD refuse to take deposits.

As an example, I was called when my Milgauss arrived. I wasn’t able to visit the store for a few days so when i asked if they wanted my card details in the meantime, i was just advised they would keep the watch for me. I was told they are not allowed to take any deposit over the phone.

[Carguy87]

I would be comfortable placing a 10-15% deposit with an in writing guarantee of delivery in “X” amount of time or full refund (and I’d only place it on a CC where I can dispute it later if needed). That’s assuming we’re talking about an AD I know and have some trust in. If I got “the call” and couldn’t pick up immediately I’d have no issues giving full payment to ensure it’s mine until I can get to the store and retrieve it.

[amanbra]

A few times an AD has asked for a deposit when they knew a model was expected to be delivered very soon and it wasn't a big wait list model. I never paid it though.

[Ksbi]

I am never doing that with my AD

[coogs08]

I know someone personally that placed a sizable deposit at an AD, and this AD subsequently had their AD status revoked. They would not give him a refund of his deposit and instead offered store credit.

This is a nightmare scenario in my opinion.

[Carguy87]

Originally Posted by coogs08

I know someone personally that placed a sizable deposit at an AD, and this AD subsequently had their AD status revoked. They would not give him a refund of his deposit and instead offered store credit.

This is a nightmare scenario in my opinion.

That’s awful; also why I would only do it on credit card and with a delivery date in writing so one can prove the AD didn’t hold up their end of the deal.

[psya]

Not me can't see myself doing that

[donas]

When I inquired about a model at my local AD, they asked me if I was willing to put down a deposit and if so, how much. I said, sure, I'll pay for it in full right now if you provide me a date when I will receive it. All of a sudden, they had no interest in a deposit. I stated I wasn't in a rush and just wanted a time frame, even if it was a year out. They said no, they didn't want to take a deposit.

[Dirt]

I was asked to put down a substantial deposit once.
But I don't know if it was instrumental in getting it any faster, but that would be secret squirel stuff.
I can say on reflection, that it probably came through faster than I had anticipated.

It was for a highly sought after reference but I have been offered even more highly sought after references out of the blue since then without any mention of a deposit

[Polar Bear]

I would be happy to put down a small deposit provided it secured the price.
If it takes 2 years for my watch to come in, i'd expect to pay the 2022 retail price, otherwise what would be the point of the deposit?

The question you need to ask yourself is how long are you prepared for the AD to hold your money before you ask for it back?

[WalterE]

Originally Posted by 1259

Is it common for ADs to require a deposit? How many of you have put down a deposit in the past? Did you find that you got your desired Watch quicker? What is a fair amount to require?

For several years I have relied exclusively on one of the local ADs. I find myself comfortable there. It is a large well-established luxury store that carries several brands as AD (including PP, Rolex, Cartier, GP, RM, JLC, etc)

They require a 2k deposit when you order a Rolex. I have not been asked for deposits for other brands (which I have and continue purchasing from them).

This is far from a small shop that needs the cash. I have always understood it as a way to prevent people dropping their name on lists in several ADs for several references at the same time, and make sure that your name is on for one you actually want.

I hesitated not.

[btwistround]

I did this with my first watch- BBGMT.

The AD wanted a deposit (20%) back then. Now? None. I think Rolex/ Tudor rolled out some updates. It was a watch I wanted and still a solid daily wearer and it's a Tudor.

It's not like they're gonna pull the AD status for a Tudor.

[CFR]

Years ago, a local AD for Rolex and many other brands closed overnight, unexpectedly, and the owners fled the country with inventory and customers' money. That's extremely rare, of course, but it stuck with me as a reminder of how uncomfortable it is leaving deposits with other people for long periods of time.

[Trailboss516]

AP flagship boutique required 25% deposit for an offshore novelty that I happily paid. Got the watch ~4 months later.