Buying Rolex in cold hard cash

[ucancallmex]

Hi, I have stayed frugal and saved up a few years to buy the watch that I really want. Now I am at a point that I am ready to pull the trigger.

I saw the watch that I want in some Jewel shops in Canal Street. They seem legit, they sell other high-end jewelry and watches like PP and iced out AP etc. One of the jewelers offers me tax-free if I pay with cold hard cash. New York tax is steep. Is it dangerous for me to pay cold hard cash? I mean in case, the watch turns out to be super fake, will it be harder to resolve the issue because I paid with cold hard cash and there is no transaction history? (I am not accusing that the watch will be fake) I think I should be more cautious and ask your opinion on the forum.

[gb57]

Situations like this it’s best to be cautious and use warm soft cash, just in case

[THC]

curious, is the sale watch only? Or with papers?

Cash or not, if the seller is legit you should ask for a receipt that includes serial # and description.

[bp1000]

This is obviously a big purchase for you. I’d recommend going with an AD for the first purchase.

[Rashid.bk]

So you're frugal and disciplined in saving so much cold hard cash but don't give a damn about where you buy. Canal street? facepalm, makes no sense.

Go to the AD and save yourself the drama and pay what 8% more for peace of mind.

[Pantheon]

I live close by to the area and I know it fairly well. Just be careful as paying in cash you will have almost no leverage if you run into a problem. I would say most jewelry places are legit on canal but they are not like Tourneau, WOS and Wempes. They don't specialize in watches and theyll buy frankenwatches too. As long as you do proper research and know what you are buying it won't be an issue. Make sure you check everything thoroughly as you'll have a hard time if you find a problem after you leave the store.

[envuks]

As a first time buyer (I think) you’re out of your mind buying on canal street with cash. Use a CC there or purchase elsewhere, with the latter being my preferred recommendation.

Good luck


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[Token74]

If you in any doubt the legitimacy of the watch, don’t buy at all.


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[Harry49]

Nice idea...

[Harry49]

[QUOTE=Rashid.bk;10375463]So you're frugal and disciplined in saving so much cold hard cash but don't give a damn about where you buy. Canal street? facepalm, makes no sense.

Go to the AD and save yourself the drama and pay what 8% more for peace of mind.[/QUOTE


Good Idea

[JCZ5]

Or you can just purchase from a AD out of state and have them ship it to you to avoid that 8%.

I would be hesitant to buy from canal street especially when there are no papers associated with it


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[excelerater]

not much on canal street is legit

[EEpro]

Don't do it.

[AK797]

Hustlers dream of punters like you, don't be a mark. In the UK they scrubbed the c and s off the street sign.

[TempoKing]

Tell him you will buy it if you go to Rolex on 5th for authentication first
In the event that the watch is a fake ...and even if the jeweler is willing to refund
your money ....He will go through the “motions”... and its possible that it will be months
before you’ll see your cash again.

I heard that the $1200 clones are sold in lower Manhattan for Thousands of dollars more.
The AD is one solution but I do not know if they have in stock what you want.

[FHFinster]

Come on. Canal?

While counterfeiters can be anywhere, why buy from an unverified source at a shop located in an area that’s notorious for counterfeits?

While you’re there, walk east a bit. A large metal structure over the east river is for sale.

PM me, I’ll get you a good price on it.


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[beshannon]

How are you paying again?

[P1nky_Up]

Originally Posted by beshannon

How are you paying again?

Cold Hard Cash

[bp1000]

Originally Posted by AK797

In the UK they scrubbed the c and s off the street sign.

it is valentines day after all.

[Number3]

Originally Posted by AK797

Hustlers dream of punters like you, don't be a mark. In the UK they scrubbed the c and s off the street sign.

[Medal]

Originally Posted by bp1000

This is obviously a big purchase for you. I’d recommend going with an AD for the first purchase.

I agree with this...you won't save as much in some cases, but you'll know what your getting is authentic....plus who doesn't want the AD experience for their first Rolex!!!

[Yess]

8% on a large number is, obviously, a relatively large number.
But it isn't large enough to gamble with when you can go through an AD - or look at out of state purchases - and be guaranteed your ice cold hard cold hard cash will get you something legit.

[Harry-57]

You need to buy the seller 110% before you even look at the watch. Sounds like you are starting from the least favourable position. If you think there is even a remote possibility of being scammed, move on. If you have found a dream watch for a killer price, it's a scam.

[THC]

Poor OP... first post, he gets torched... lol

All these great people cannot be wrong OP... keep shopping sir

[spoilsofwar01]

I think I should be more cautious

I think you answer the question yourself

[bp1000]

Originally Posted by THC

Poor OP... first post, he gets torched... lol

All these great people cannot be wrong OP... keep shopping sir

Yes agree, I don't understand the mentality of trying to save 8% but massively increasing your risk; even when 8% on what 7k USD or whatever, is a fairly reasonable number but still a fraction of what the average monthly wage is. Just wait another month or 2 - which will be the case on an AD waitlist

[77T]

The seller in Canal St. has already confessed to felony tax fraud in his proffer. So why would you think he might not defraud you with a sketchy Rolex. Frankened or otherwise incorrect, for example.

And when you go to file a complaint later, your position is compromised by your willing participation in the tax fraud.

Now it is always possible that he is just sweetening the offer for cash - letting you think you’re getting a great deal - and will properly report the sale and cover the sales tax himself...uhhh... yeah...nope


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[t65tampa]

I've purchased in cash from a Rolex AD in the past for a more aggressive discount, but I trusted those guys and have known them for many years.

In the scenario you have presented, I wouldn't do that deal.

[Equity]

Too much risk in general to save couple hundred bucks.

If you’re trying to avoid that small amount of tax you might want to save a tad bit more, and solve this problem full circle and buy from a reputable person.


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[Pantheon]

Buying from canal st is not that much different from buying from the diamond district in NYC. As long as you know what you are doing you wont get burned. I am assuming the OP is looking at pre-owned as it wouldn't make sense to shop there if looking for BNIB.

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