Deposit or no deposit that is the question...

[SimonUK82]

Greetings All,

I have put my name on the controversial ‘Waiting List’ for a Submariner Date (this will be my first Rolex) at my local AD. I was advised it could be 12 months.

I am interested if people believe leaving a deposit would increase my chances and reducing the waiting time? If you believe it may help would size deposit would you personally recommend?

I am also mindful a new Sub might... be released for Bazel 2019.

Simon.

[envuks]

My personal take is that a deposit actually reduces your chances or getting a watch quickly since the AD feels like they’ve got you. No deposit and they still have to work for the sale (ie get the watch as quickly as possible) so another AD doesn’t produce one quicker for you.


But what do I know. I had to wait 2 months for my 116500

[squatchy]

Waiting lists without deposits are simply not concrete. It's actually amazing to me the number of clients I've called about XXX difficult watch and they PASS ON IT. As an AD, deposits are something that confirm interest and show a commitment that you'll buy from ME vs another dealer. Therefore, they hold preference.

[bob78h]

I think it varies by AD, wouldn't hurt to ask them. One of my local ADs takes deposits and the other one does not. I'd imagine putting a deposit should show that you are serious and bump you above people who didn't put one down, but then again you hear stories of watches being sold to someone who just happened to walk in at the right time, so you never know.

[Trazor]

And if the AD goes bump with your deposit ???

[The Libertine]

I would not put a deposit down on a watch with no date certain as to when it would arrive. But that’s just me...

[beshannon]

Never understood leaving money for the future promise of a product.

All this for jewelry no less

[R G]

No deposit.

[RJRJRJ]

It seems to be something we are all split on, but I believe it increases your chances as you have given them something that indicates an actual order. I figure that is the reason that many ADs refuse deposits even if you insist.

[slim]

I'm a sucker, I've "ordered" watches from my AD in the past without a promise date. Payment was required in full and it took about 4-6 weeks to receive my watch.

[PatronMTL]

What i wonder is if you leave a deposit and they file for bankruptcy or shut down, are you shit out of luck?

I would never leave a deposit unless the watch was in stock and it was just to put it on hold for some reason

[Nairn1980]

Originally Posted by PatronMTL

What i wonder is if you leave a deposit and they file for bankruptcy or shut down, are you shit out of luck?

I would never leave a deposit unless the watch was in stock and it was just to put it on hold for some reason

Pay deposit on credit card - solves that issue

[J.W.S]

Originally Posted by Nairn1980

Pay deposit on credit card - solves that issue

Here's what I wonder though...

Section 75A anything above £100 is covered... (even if you paid 99 cash and £2 on credit card, above £100)

However lets say you put the deposit on the credit card... and then you pay it off. Thus signalling to the credit card company that there is no problem with the payment...

Then 6 months down the line, the jeweller goes into administration and liquidation follows. They pay of as many of their creditors as possible but unfortunately not you.

Where do you stand now?

Technically you've not received a good, but you have completed the transaction and even paid for it off your credit card since this is 6 months later... and I assume if you can afford a Rolex you should be smart enough not be paying interest on your CC.

So where do you stand? Would Section 75A still cover you?

[Pauln]

Originally Posted by squatchy

Waiting lists without deposits are simply not concrete. It's actually amazing to me the number of clients I've called about XXX difficult watch and they PASS ON IT. As an AD, deposits are something that confirm interest and show a commitment that you'll buy from ME vs another dealer. Therefore, they hold preference.

Why does someone need to make a commitment on a watch when there’s no clear idea when or if the watch will be delivered? The AD is supposed to get watches as quickly as possible to meet the needs of its customers. If it’s incapable of doing so, why should the customer be left on the hook. It’s not as if the AD will have trouble selling the Rolex, if we’re talking professional line, to someone else. I understand it’s your business. If it were my business I’m sure I’d have the same POV as you.

[904VT]

It's tough if you don't have a buying history right now. I'd put a deposit down or even pay in full, but only at my AD. I know what to expect and have a purchase history. For a first time purchase, I'd be weary of being taken advantage of.

[Nikrnic]

Money talks, I think in today's current situation it would be wise to put your money where your mouth is. I'd leave a somewhat substantial deposit of 25% or more if it were me. It would also give you more of 'A right to bug em' hehe just sayin...

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[Brew]

Only family and friends (and only some of these) get interest free, term free loans from me.

[Seafox0814]

Originally Posted by squatchy

Waiting lists without deposits are simply not concrete. It's actually amazing to me the number of clients I've called about XXX difficult watch and they PASS ON IT. As an AD, deposits are something that confirm interest and show a commitment that you'll buy from ME vs another dealer. Therefore, they hold preference.

I agree. Money talks, BS walks.

[edyu]

I don't think ADs will take a deposit for a watch unless they know they will get one for you in a timely manner. So I'd say put down a deposit if they take it.

[ahlee00023]

Both my DaytonaC and BLNR required a 50% deposit. I got them both within a year.

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[sager]

I regularly pay deposits at my AD for the special SS models.

[sager]

Originally Posted by edyu

i don't think ads will take a deposit for a watch unless they know they will get one for you in a timely manner. So i'd say put down a deposit if they take it.

100%

[TheWatchEnthusiast]

My AD stopped taking deposits because Rolex became so unpredictable with their deliveries that they couldn't deliver fast enough. Paying a deposit for my first 3 SS watches ( a BLNR a Blue Skydweller and a SD43 ) got me in the advanced waiting list of people that were willing to put a deposit which was minimal compared to the waiting list of interest only that was a mile long. I got all three within couple of months of my deposit . I also have paid fully for a white dialed Daytona C that I knew it could be up to a year to be delivered. I was actually #2 in line for that dial. I am now next because 3 months ago she delivered one to the guy ahead of me . It has been now almost 8 months but has also gotten me a black dialed Daytona to ease my waiting pain.
If they go bankrupt after 30 years in business ( it can happen although not likely ) I will be out of my $12,400. But i confident they will not and the savings on the 6 pieces i got from her already will make the math work out overall. They require no more deposits from me since she now knows i am good when i express interest on a watch and i don't shop around other ADs anymore . I'm also 3rd for a BLRO but she has only gotten 1 this year.

[Steve36Efc]

It’s not an issue for me putting a deposit down with an AD. Personal experience, I put down a 20% deposit on a Dblue in Feb 17 the AD said they were confident I would have it within 12 months. It arrived 3 weeks later.

[Starhutch]

Ok with deposit and refundable after 90 days.

[dwjez14]

My AD has my Amex on file and authorization to charge for any of the watches I want. That way it saves the call. They get a watch in and want to give it to me then they charge it and call me. Speeds up the process. They tell me they have 5 people set up for this. All others are on a call List. If this makes my chances more likely than I am totally down for this. They have written permission for 3 watches I want. Anything else cool they get in not on the list they say they will call me if given the chance. Will they get me my watches I want who knows. But they know what I want and can charge my Amex anytime? I figure it makes me a More likely candidate since I don’t have to think about it just charge it. They even asked what if all 3 come in I said give me the watches I want them all. See if I wait for 2 years to get them or watch them all come in next week while we are doing Xmas shopping. I might crap next billing cycle for Amex. Lol

[dwjez14]

I wish I could get a future deposit in the construction business with hopes from the person giving deposit I will do the work someday for them. Wouldn’t that be nice haha

[42itus]

Originally Posted by dwjez14

My AD has my Amex on file and authorization to charge for any of the watches I want. That way it saves the call. They get a watch in and want to give it to me then they charge it and call me. Speeds up the process. They tell me they have 5 people set up for this. All others are on a call List. If this makes my chances more likely than I am totally down for this. They have written permission for 3 watches I want. Anything else cool they get in not on the list they say they will call me if given the chance. Will they get me my watches I want who knows. But they know what I want and can charge my Amex anytime? I figure it makes me a More likely candidate since I don’t have to think about it just charge it. They even asked what if all 3 come in I said give me the watches I want them all. See if I wait for 2 years to get them or watch them all come in next week while we are doing Xmas shopping. I might crap next billing cycle for Amex. Lol

Do you have a sales history with your AD? Only reason I ask, there is one AD that I have no history with that advised me that I should only express interest in one model. The manager at this AD said that because I have no history it MIGHT make the decision maker think I'm a flipper if I'm asking for multiple references. So far they've only called me for SubC even though that's not the one that I asked for.

My other AD, whom I've purchased 5 watches with, has me on the radar for a few pieces. He actually calls me for anything that he thinks I might be interested in. I have a good relationship with this SA, if I say I'll take it, I won't back out.

Neither AD will accept a deposit from me. But if asked, I would give a deposit with the thought that it will cut the wait time.

[shapa]

The next sub will probably have the new movement in place next year. For that reason alone, you should wait and put a deposit for the next generation.

[dwjez14]

I have a light relationship with my Ad just starting. You are correct they could think I am a flipper but I don’t think they do. I believe that they think I am a watch enthusiast. They text me every few days offering me watches. Last one was that white face daytona i posted about I believe yesterday. Now if you read one of my most famous post anger at the Ad. The salesman saw the excitement in my face when I saw the guy come in with the pepsi. I’m really enjoying this hobby right now. ( yes don’t remind me dbag move apparently to offer to buy his watch ) but my Ad is really working with me. They are bringing in some watches for my wife to try on Saturday. She wants a certain watch but wants to try it on first they do not have that exact watch but they are getting another model of the watch. So far my Ad has called me about 4 watches. Now they are not the watches in highest demand. But they are all stainless models you don’t see in store in display case. They have assured me they will get me at least one of the watches I want. Time will tell. On a side note I always have to bring up my dbag move otherwise one of our forum members will remind me of it. So I beat them to the punch. Haha


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