Deposit Normal?

[S’portEye]

I recently put down a 50% deposit for a 36mm datejust. First time I have had to do it, but I had no problem with it. Hopefully before Christmas.

[Rollieo]

Originally Posted by MRBolton

I'll do you one even better then. I wasn't the first person they contacted; someone passed on it before me. Not sure how many people said no before they got to me, but it appeared that each associate had their chance to call someone, and if that person said no, the next associate chose.

I met this associate only once and exchanged a few texts after following up for a watch. She was very nice; I liked her a lot! Glad to see it was pretty quickly fruitful.

Times are changing! Good to hear

[Zach69SS]

I would have no problem paying a deposit, use a strong card like Amex. I don’t think even a small AD would have a problem delivering a submariner.

Enjoy your new watch soon.

Cheers,

[Ursusarctos]

Prompted by the "use a strong card" & this is tangential but my AD would not sell me a Sub TT using a credit card. I get that they save some fees by doing this. I had to bring a bank draft (fortunately free) or an e-transfer to get the watch. I found it odd but I went along with it. I'm curious if this is common.

[Zach69SS]

Strange? But every AD does business in different ways, either way it’s done already. So there is no going back. I would have offered them to make a 50% charge on the card and later when the piece arrives I would pay in full in cash or via bank wire and they could just refund the card. So they would lose nothing.

I don’t think you have a problem with the AD..

[jb335]

Originally Posted by Ursusarctos

Prompted by the "use a strong card" & this is tangential but my AD would not sell me a Sub TT using a credit card. I get that they save some fees by doing this. I had to bring a bank draft (fortunately free) or an e-transfer to get the watch. I found it odd but I went along with it. I'm curious if this is common.

Not common and that is terrible customer service. I would not deal with an AD that didn't accept plastic. How do you I think I got all my CC points? lol

[L_S_SHOE]

Deposits used to be more common, but so did discounts. Both seem to be less common nowadays.


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[Torshalla]

Just make sure they are a financially healthy business.. but I guess Rolex ADs should have no problem on that front.


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[Victor Cohen]

I don't know about the United States but in France paying an account is a contractual commitment.
There was also a trial against an AD who had requested an account without delivering a watch
As soon as an account is paid, the merchant must fulfill his part of the contract, which means delivering what you want within a certain period of time. which is completely different from a wish where there is no commitment.
This explains two things:

You will receive your watch with certainty.

The other point that can be seen as a market trend is that asking for accounts means that there is less demand and that certain ADs secure their sale.

[Yobber76]

When I bought a BLNR about 6 years ago, my AD asked for a 50% deposit. A couple of days later, I came with the requested amount. Surprise, they had just gotten a BLNR in that day, and sold it to me on the spot!
I think many of them used deposits to separate buyers from shoppers.
I don't think they take deposits anymore.

[travisb]

I've never been asked for a deposit but I wouldn't be opposed to it.

[Calatrava r]

I have never been asked for a deposit. Deposits only make sense where the specially ordered item may not sell for a while and dealer would have to stock the item as just a single item. Where Rolex watches sell upon delivery to the dealer, deposits should not be needed.

[Sgooter]

OP: I don't see a problem with the deposit request. However, I would send an simple email asking them to confirm the details of the watch (incl serial #) and the deposit amount. The point is to get it in writing before giving them a deposit.

[garyk]

Originally Posted by MRBolton

I got the call on a Submariner from a small single-location family AD. They said that Rolex has informed them it will be arriving in about 4 weeks, and the AD wanted a 50% deposit to mark it as sold to me when it arrives. I asked them to clarify that they're not going to put it on exhibition for a few weeks and then release to me, and they assured me that was not the case.

I've seen threads over the years where people will put a deposit down with no end in sight, so I was glad that wasn't the case here. It still struck me a bit odd that they would bother getting a deposit on a watch arriving so soon rather than just calling someone on the list upon its arrival.

Has anyone had something like this come up? Perhaps it's the new normal.

I paid in full on a Deep Sea JC in Jan 2015, it arrived a few months later. Paid in full on a white dial Daytona in 2016 and it arrived 9 months later. The boutique I bought both watches from was a new store at the time but I wanted the watches bad enough and no regrets!!

[brandrea]

In 2017, I paid for my SD43 in full at the Basel release party my AD held.

They delivered the watch 4 days later

[Flint]

The 5 Rolex purchases made over last 15 years , all in UK were from WOS outlets and never was asked for deposit

[Oxfordian]

Haven't paid and have never been asked to pay a deposit.

However if my AD could show me that I was actually ordering a watch with a supply by date rather than just being put on a list I might consider paying but I would require a guaranteed delivery date, otherwise no deposit.

[Fredrik]

Back when you could order a specific watch I paid a deposit of 10% of the cost when ordering and the rest when it was delivered a few weeks later. Funny thing, there was a price increase in between and I got it for the old price. This was four years ago.

[HogwldFLTR]

I like the idea of putting sown the deposit. It helps to spread out the payment. I've done it on a couple of watches. On my first SkyD when they first came out in stainless I had to put down 50%. I was also one of the first to receive one. If the place is reputable I don't really see an issue.

[MRBolton]

Originally Posted by HogwldFLTR

I like the idea of putting sown the deposit. It helps to spread out the payment. I've done it on a couple of watches. On my first SkyD when they first came out in stainless I had to put down 50%. I was also one of the first to receive one. If the place is reputable I don't really see an issue.

Yep, they're reputable. I know someone else they've done this with and delivered the watch way faster than expected even.

[wwjd]

My AD asks for a 50 percent deposit and delivers within 6 weeks. Noi issues. Congrats on your new LV!

[gerry100]

Depends on how much you trust the AD.

The AD will have your money at 5% and you will have no transparency on when your watch arrives. Will you get the first sub date or the fourth that comes in?

For example, If the first arrival can generate some extra spend at the AD, you could wait for the next one.

Depends on ethics of the AD

[lawyerdude]

What i took from this was the AD saying they knew it was coming in 1-2 months. I once spoke to my AD when i was picking up my watch and she said they find out what’s in the shipment the night before. Previously she told me that i was next for my watch, but they don’t know when it’s coming, but when i got it she said they found out the night before.

[MRBolton]

To close the loop on this, I picked my watch up yesterday.

[2001jesper]

Originally Posted by MRBolton

To close the loop on this, I picked my watch up yesterday.

Congrats! We need some pictures then

[Bartolo]

Originally Posted by MRBolton

I got the call on a Submariner from a small single-location family AD. They said that Rolex has informed them it will be arriving in about 4 weeks, and the AD wanted a 50% deposit to mark it as sold to me when it arrives. I asked them to clarify that they're not going to put it on exhibition for a few weeks and then release to me, and they assured me that was not the case.

I've seen threads over the years where people will put a deposit down with no end in sight, so I was glad that wasn't the case here. It still struck me a bit odd that they would bother getting a deposit on a watch arriving so soon rather than just calling someone on the list upon its arrival.

Has anyone had something like this come up? Perhaps it's the new normal.

Few ADs want to deal with deposits these days . . . fewer than in the past that's for sure.

If you put down a deposit be SURE it's on a credit card (this assumes you're in the USA). That gives you significant protection if the AD goes bankrupt or if there is any other issue collecting the watch or your deposit refunded. Because you can always dispute the charge and it 100% will be honored by the card issuer.

It does seem odd, in that if you don't buy the watch they could sell it within hours I'm sure. This MAY mean that the AD is having cashflow issues . . . which is yet another reason to do the deposit via credit card.

[ZOOK]

Originally Posted by MRBolton

To close the loop on this, I picked my watch up yesterday.

Congratulations.

[Bartolo]

Originally Posted by wwjd

My AD asks for a 50 percent deposit and delivers within 6 weeks. Noi issues. Congrats on your new LV!

Delivers what? Because unless you're in the $1M club, . . .

[worldofoyster]

Shouldn’t be this way

[jb335]

Originally Posted by MRBolton

To close the loop on this, I picked my watch up yesterday.

The loop is not closed until we see some pics!


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