50% deposit at an AD

[Extract0r]

Question for people in Chicagoland.
How comfortable would you feel about putting 50% down at C. D. Peacock? With the accusation about selling to grey dealers, is there any chance that they lose the AD status?

[ks58]

I'd be fine if it was an AD. But if you're not comfortable, ask other ADs near you about the same piece they're asking for a deposit.

[Jack T]

Many AD’s are no longer taking preorders, the wait times are unpredictable.

And I can’t imagine this AD you’re referring to will move you up on the list just because you’ve put down a deposit.

Can he guarantee it? No. Can you verify it? No. Those lists are all bs in my book.

[dannyp]

Not sure whether I would or not, but as long as it's refundable, your only real risk is the store going under, not losing Rolex line.

[ks58]

I would say and add that if you're asking this question, you're obviously concerned about it. Being separated from your money without an understanding of a delivery date or expectation is tough to make sense of. Especially since almost every piece sells pretty quickly no matter the price.

[doboy007]

I wouldn’t in this day and age. Too many ADs are losing status and they can’t even order one from Rolex so they’ll just be waiting themselves. Think about it, Rolex watches are selling themselves as soon as they come in so why would a shop need a deposit other than needing the money.

[fsprow]

VERY bad idea.

[sj24k]

I wouldn’t do business with an AD that asked for 50% deposit. I’m open to putting a smaller deposit (10-20%) on my Amex with a reputable AD who I trust and have done business with in the past. (Assuming I have confidence they can deliver what they are promising.)


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[Extract0r]

OP here.
The deposit is fully refundable and I can use my credit card.
Still a bad idea?

[doboy007]

Originally Posted by Extract0r

OP here.
The deposit is fully refundable and I can use my credit card.
Still a bad idea?

Doesn’t matter if it’s credit card if they go under. After some period you won’t get any protection from your card. But it seems like you’re leaning towards it and ultimately it’s your money.

[kittansett]

it's an interest free loan without time limit. Is the AD having cash flow crunch?

[duquephart]

Originally Posted by doboy007

Doesn’t matter if it’s credit card if they go under. After some period you won’t get any protection from your card. But it seems like you’re leaning towards it and ultimately it’s your money.

"A fool and their money ------------ "

[Rrpdc]

For what watch ?

[Rrpdc]

Originally Posted by Rrpdc

For what watch ?

Even if they lost ad, they would refund your deposit. That company would exist without Rolex.

[russ86]

On few occasions I gave 100% deposit so 50% sounds not that bad

[HippoPAPAmus]

Originally Posted by Extract0r

Question for people in Chicagoland.
How comfortable would you feel about putting 50% down at C. D. Peacock? With the accusation about selling to grey dealers, is there any chance that they lose the AD status?

I know nothing about the AD in question, but I have put 100% down more than once on hard to get pieces. Really comes down to your comfort level with the AD and their solvency if they were to lose AD status.


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[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.

[10klakes]

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.

You should do it… yolo


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[xrole]

Originally Posted by Extract0r

Question for people in Chicagoland.
How comfortable would you feel about putting 50% down at C. D. Peacock? With the accusation about selling to grey dealers, is there any chance that they lose the AD status?

This is only acceptable if it is a VERY short wait. If they have an open-ended waitlist and ask you to pay a 50% deposit simply for a place in the queue then I would politely decline while laughing internally. I am not a interest-free loan service.

[boywithakoi]

Originally Posted by xrole

This is only acceptable if it is a VERY short wait. If they have an open-ended waitlist and ask you to pay a 50% deposit simply for a place in the queue then I would politely decline while laughing internally. I am not a interest-free loan service.

Pretty much this. Did they give you at least a rough idea of the delivery date? I don’t know if I’d let an AD hold onto my money for a watch “sometime in the future”.

[Gab27]

Personally I would not without an ETA, and with the ways things presently are I don't think an AD is able to provide an ETA. Consequently, I would not be willing to put that much down.

[taipan168]

When asked, I put down a roughly 10% deposit with a local AD when they said that they could deliver a 124270 within 2 months. They ended up delivering in 3 weeks.

For Rolex, their sale condition was bank transfer only and not credit card, but the AD has been around for 70 years...

[bubblesz]

How I wish my AD will ask me to put a deposit

[Harry-57]

Depends on the watch/amount. I would do this at my AD for the right watch. I would not do it at any other.

[Master_Grogu]

What’s the rank of your deposit in case of liquidation ? So they keep it separate or have a bank backing it up in case something goes wrong?

[Oxfordian]

It would depend on the watch, a full Platinum DD or Daytona with an agreed timeframe I would possibly put down a deposit but only commensurate with what other AD's would be looking for.

Otherwise I wouldn't pay a 50% deposit.

[RollieNZ]

I would not do it personally.

I can't understand why an AD would ask for such a large deposit.

In the current market if you don't proceed with the purchase most models can easily be sold to another customer.

Out of interest, which model are you looking at?

[Boaters]

I wouldn't even if you didn't buy it how long do you think it would take to sell.

[train-time]

CD Peacock is the AD that is currently named in a lawsuit regarding secondary market transactions. I would not have anything to do with them.

[Mystro]

Originally Posted by kittansett

it's an interest free loan without time limit. Is the AD having cash flow crunch?

X2…….Interest free loan is exactly what you are doing.