Rolex AD Wire Payments and Unethical Practices

[carlam]

Hi all,

I recently got a phone call from my local AD regarding a watch I wanted. They let me know that the watch will be ready in about a month and for me to send a wire for the payment in full. Is this the norm for Rolex AD's now? Really? Wire payments?

This particular AD is conducting backdoor deals for hot SS watches. Who do you report this kind of activity to? Directly to Rolex? Anyone know the corporate email or phone number?

TIA.

[Rmoor]

What’s the big deal they are selling a watch to you that you wanted why not wire the money and be happy? Seems like everyone in the world has a problem with something these days.

[dpt.calvin]

I wired payment in full to my AD in Feb 2016 and picked up the watch a few days later.

[Barada7]

Seems like a logical leap from “wire request” to “selling out the back door”.

[dauster]

Originally Posted by carlam

Hi all,

I recently got a phone call from my local AD regarding a watch I wanted. They let me know that the watch will be ready in about a month and for me to send a wire for the payment in full. Is this the norm for Rolex AD's now? Really? Wire payments?

This particular AD is conducting backdoor deals for hot SS watches. Who do you report this kind of activity to? Directly to Rolex? Anyone know the corporate email or phone number?

TIA.

How do you know about the back door deals ? Just wire the money and be happy. AP does the same for 1st purchase unless you pick it up in person.


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[dpt.calvin]

Originally Posted by carlam

This particular AD is conducting backdoor deals for hot SS watches. Who do you report this kind of activity to? Directly to Rolex? Anyone know the corporate email or phone number?

The Rolex Police, duh.

Their phone number is 1-800-Rolex-Doesnt-Care

If they were selling out the backdoor, why would they be selling to you? Unless you're meeting them at said backdoor.

[Bill2e]

Originally Posted by Rmoor

What’s the big deal they are selling a watch to you that you wanted why not wire the money and be happy? Seems like everyone in the world has a problem with something these days.

Well 2 things are wrong with it.

1 - payment in full a month before delivery, I understand a deposit, but not 100%

2- wire payment. You have no recourse if the deal falls apart and you lose all those Amex points.

[DJH1977]

Then let the next fellow have it. This isn't beyond the pale.

[Kowaco]

I just bought a watch from an AD, he called said he had it if I wanted. I went to the store, liked the watch and gave him my credit card and took the watch and left.


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[KathleenL]

Originally Posted by Bill2e

Well 2 things are wrong with it.

1 - payment in full a month before delivery, I understand a deposit, but not 100%

2- wire payment. You have no recourse if the deal falls apart and you lose all those Amex points.

Really? The first AD I dealt with about getting a Lady Datejust said I’d have to pay in full in advance and it would then take from 3–6 months up to a year before I’d get the watch. He also said there was no way in Hell that I could get the dial I wanted (Sundust stick), so I went to a different AD who got my the watch with the dial I wanted.

[Tricolore66]

This sounds sketchy to me. First of all, dealers don't know exactly what they're getting a month from now. Secondly, why would they insist on a wire transfer, particularly in-full?

There was as longtime salesman at Champion Porsche in FL that stole over $3M dollars in customer deposits by setting up a bank account that was under a company name that one could easily mistake for the dealership. He was selling early order positions for GT3 models that were supposed to be allocated to those buyers. This went on for over a year. He and his wife were eventually arrested and he received a 6.5 year prison sentence.

https://www.justice.gov/usao-sdfl/pr...heme-involving

If that can happen at one of the most prestigious and respected Porsche dealers in North America, it could happen at a Rolex dealer. The one thing they both have in common are far more demand than product, and buyers who will do most anything to secure one, including overlooking the red flags.

If I was the OP I'd go into the AD and sniff this out a bit more, and then tell them you're going to pay cash.

[Harry-57]

I have wired my AD and other dealers money for watches on occasion.

Buy the seller. If you don't trust them or something makes you feel uncomfortable, even if you can't put your finger on it, do not proceed.

Personally I wouldn't go all PI about it. I'd just pass and move on. You should do as you see fit.

[Fchernyak]

I always pay Amex at AD. Never wire. Even PM pieces


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[burnthesehills]

They likely want wire payment to avoid the credit card merchant fee.

I would go IN PERSON and hand them your credit card and see if they will accept as payment. If they refuse I would personally walk.

If you are certain that they are doing back door deals, I would find another AD to do business with.

[Doood]

A wile ago I stopped at an AD near Calabasas that required cash/bank wire for some of the hot references. That was two years ago, and they are all pretty hot now.

Their reasoning was to avoid credit card fees. Not sure if still the policy.

[4 Aussies]

The AD gave you the opportunity to purchase the watch you want at MSRP and you don't know what to do???

[Kevin of Larchmont]

Sounds like the OP feels he has two reason not to trust the AD. It also sounds like the OP doesn’t know how to use Google.

[bluestreak]

Does the AD not accept credit cards at all? Businesses aren’t required to accept them. And I’m sure that they don’t want you bringing in that much in cash.


But if they do accept credit cards they are likely violating their agreements with the credit card companies. If you want to report them to someone report them to the visa and Mastercard.

If this were anything other than a Rolex I would expect a discount for a wire transfer. But they likely have 20 people behind you who will do it.

[Rmoor]

No recourse how? Your saying you can wire a payment to a business and they can steal your money? I doubt that’s very common with a brick and mortar business unless they go out of business. It’s very simple but most have a hard time accepting it. Buy it the way the business requires or find a different dealer that works on terms you feel acceptable. Let’s not run and cry to Rolex because you lose Amex points. Silly.

Originally Posted by Bill2e

Well 2 things are wrong with it.

1 - payment in full a month before delivery, I understand a deposit, but not 100%

2- wire payment. You have no recourse if the deal falls apart and you lose all those Amex points.

[Grapenut]

Shady, mainly by the advance payment. Beyond that CC charges are a cost of doing business. Accept or don't but not pick/choose what needs a wire.

[Unframed]

Wire transfer to an AD? OK, but they cover the transfer fee. They're just trying to avoid merchant fees on a credit card transaction. Nothing wrong about that, but do they expect you to pay the wire transfer fee as a favor or something?

[VogelPhoenix]

Well, the dealer doesn't want to pay for your AMEX points. Hard to blame them. I have paid for a couple of APs by wire. I wouldn't worry much, provided the dealer is expected to still be in business in a month beyond a reasonable doubt (and you're sure the account belongs to the actual store).

[MasonDixon]

What do you mean by "backdoor deals"? Were they asking you to wire them more than the MSRP of the watch?

[DubOhio]

Wire transfer… Amex not good anymore?

I haven’t done a wire transfer in at least 15 years. Credit cards add valuable protections to buyers. Anyone who doesn’t except them would not get my business. That’s just me though.

[bluestreak]

Originally Posted by Unframed

Wire transfer to an AD? OK, but they cover the transfer fee. They're just trying to avoid merchant fees on a credit card transaction. Nothing wrong about that, but do they expect you to pay the wire transfer fee as a favor or something?

Something wrong with it if they accept credit cards for other stuff. Stores aren’t supposed to pick and choose.
Probably do it for Rolexes because nobody is going to complain.


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[911_3.6]

I would go see your AD in person and confirm it is a legitimate offer.

This has been an ongoing scam in Europe so be cautious.

If the AD confirms, in person, the offer is real and your watch will arrive in a reasonable time, wire the funds if trust they will deliver.

[EEpro]

Originally Posted by VogelPhoenix

Well, the dealer doesn't want to pay for your AMEX points. Hard to blame them. I have paid for a couple of APs by wire. I wouldn't worry much, provided the dealer is expected to still be in business in a month beyond a reasonable doubt (and you're sure the account belongs to the actual store).

Yep. I'd pick up the wire instructions in person.


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[mfortune042]

Originally Posted by Bill2e

Well 2 things are wrong with it.

1 - payment in full a month before delivery, I understand a deposit, but not 100%

2- wire payment. You have no recourse if the deal falls apart and you lose all those Amex points.

Thanks for the head up

[CarlOver]

Make an appointment and pay in person. If they won’t take your credit card then walk. This is a Rolex AD?

[outlaw468]

I am working with an AD now that I believe (hope) will deliver a watch to me in the next couple of months. They are currently only accepting wire transfer or bank check for payment. Previously they accepted cc, and they still do accept cc for non-Rolex Items. I have no reason to doubt their legitimacy.