50% deposit at an AD

[Chiboy]

Originally Posted by Extract0r

C. D. Peacock was established in 1837, survived the great Chicago fire, the great depression, subprime crisis and the corona shutdown. They have 3 authorized dealers in Chicagoland, so chance of them going under is pretty slim in estimation.

I have never bought anything from C. D. Peacock. I bought my first Rolex, the Submariner, last year from Razny but the SA there flat out told me that he won’t sell me any more Rolexes unless I buy jewelry from him. So I need to find a new AD.

FWIW, I've lived in Chicagoland since 1987 and my recollection is that Peacock went out of business in the last 20 years or so and the name was bought by someone else. I don't think they have the 85 year continuous history that the above was implying.

On the OP's question, this was my experience:

https://www.rolexforums.com/showthread.php?t=644939

No harm done with my 50% deposit (which had to be by check), but no gold at the end of the rainbow either.

As many have said, with virtually all pieces selling pretty much instantly, there's no financial risk taken by the AD when they take your order. Also, 50% of retail is about 80% of their cost, so it's pretty egregious to demand that much upfront.

[Extract0r]

OP here with an update.

I put 50% down with a credit card last week.
Was told that it would be anywhere from 3-12 months wait.

Got a call today that the watch is ready for pickup!!!
Paid the balance and picked up my new Rolex!!!

[doboy007]

Originally Posted by Extract0r

OP here with an update.

I put 50% down with a credit card last week.
Was told that it would be anywhere from 3-12 months wait.

Got a call today that the watch is ready for pickup!!!
Paid the balance and picked up my new Rolex!!!

Congrats! That worked out well for you. What is it?

[Extract0r]

Originally Posted by doboy007

Congrats! That worked out well for you. What is it?

Two tone root beer

[doboy007]

Originally Posted by Extract0r

Two tone root beer

That’s a decently hard one to get from AD so you lucked out they sold it to you without a previous history.

[klenboy]

Glad this ended well and you got a wonderful watch! Enjoy!

[dannyp]

Originally Posted by doboy007

That’s a decently hard one to get from AD so you lucked out they sold it to you without a previous history.

Wonder if this is a way to weed out flippers looking to make a buck: that’s who would be least likely to tie up that amount of money for up to a year.

[Mendota]

Originally Posted by Chiboy

FWIW, I've lived in Chicagoland since 1987 and my recollection is that Peacock went out of business in the last 20 years or so and the name was bought by someone else. I don't think they have the 85 year continuous history that the above was implying.

I think the store name is what has been around for 185 years but like you wrote, with a recent ownership change already due to a business failure, that proves anything can happen even with a well established brand name. Guaranteed there are other creditors much higher up on the list who will get paid before you do in a bankruptcy filing. Those dollars are gone if that were to happen.

[Sub*Man]

Originally Posted by Extract0r

OP here with an update.

I put 50% down with a credit card last week.
Was told that it would be anywhere from 3-12 months wait.

Got a call today that the watch is ready for pickup!!!
Paid the balance and picked up my new Rolex!!!

Congrats, worked out well for you.

[Mendota]

Originally Posted by Mendota

I think the store name is what has been around for 185 years but like you wrote, with a recent ownership change already due to a business failure, that proves anything can happen even with a well established brand name. Guaranteed there are other creditors much higher up on the list who will get paid before you do in a bankruptcy filing. Those dollars are gone if that were to happen.

Sweet! Let's see it!

Sent from my SM-G986U using Tapatalk

[doboy007]

Originally Posted by dannyp

Wonder if this is a way to weed out flippers looking to make a buck: that’s who would be least likely to tie up that amount of money for up to a year.

It could’ve been since they must’ve known that arrival of the watch was imminent. Unless some people ahead of him dropped out.

[Extract0r]

Originally Posted by mendota

sweet! Let's see it!

Sent from my sm-g986u using tapatalk

Excuse the fingerprints and the date not being set correctly.

[Mendota]

Beautiful!

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[cvo]

Great looking GMT! Glad it all worked out well.

[mattidk]

Amazing - Rootbeer is one the damn good looking GMT ;) Congrats!

[AEV]

Congratulations, wear it in great health.
Nice to hear it came up quite quickly.

For the record, the max deposit I have been asked to put is 25%.

[JSolution]

I always leave a deposit usually it’s quite insignificant 5 per cent or so. I prefer to do this as I feel like I’ve actually reserved official request on the watch, however I’ve been waiting two years still and nothing 😂