Watches of Switzerland - 100% Deposit

[sammy11]

I think this topic is a difficult one to be had across continents where intimate knowledge of the local nuances of trade in those countries can make all the difference.
A good friend of mine works at my local Rolex AD, she was a friend before working their and is a respected WOS Rolex Sales Exec.
I too got the call for a deposit in a piece I've been waiting for, I wasn't forced or coerced into taking the offer. I only had to drop 50% as I was one of the first out of the blocks and only the next day they started asking 100%.

Either way, the link came through from WOS direct to support the request and contained the link to the payments page, which was also WOS branded.

I'm well aware of how phishing/ scams operate and all the checks are good.

3rd Party payment systems in the UK at least are not uncommon. Thus is often a necessity as rules and regulations prevent just anyone from processing credit card/ BACs payments as this data is heavily regulated. The incumbent costs of holding and processing such data is not something independent firms need to bother themselves with as there are sufficient regulated 3rd Parties that companies such as WOS utilise.

Of course, if you don't know the Rolex AD from Adam and some random is calling stating they're an AD so send me some money to this PayPal ID then tell them to do one.

Otherwise, most people on a Rolex AD wait list will know the agent they're dealing with by voice alone. Supported with emails and the appropriate links to payment channels... you should have confidence.

That's just my opinion of course... but let comment sense prevail in all cases.

Business must continue, WOS trying to secure some sales whilst they can... what's wrong with that?

Why don't they send them out you ask... well postal/courier services in the UK are being told to ring the bell and leave on doorstep until resident opens the door. Then, the postie/courier signs for the package NOT THE resident (due to social distancing pactice). This in itself has led to issues where unscrupulous people are abusing this where they claim either not to have received, or that the package was empty... and as they didn't sign it then it's the fault of the sender/courier.

Personally I'm happy to waìt for the store to reopen and get the AD experience than open my £X,000 timepiece with all the other junk mail that still seems to be being produced!!

Stay safe everyone.

[sammy11]

In summary: I was an early adopter to the WOS requests for deposits on a piece that's come in with my name on. Paid the 50% to my AD (whom I know and trust), the links was to a regulated 3rd Party payments system which is perfectly normal in the UK due to regulations for businesses processing financial data.
I'll be waiting for the store to open to collect.

They're not shipping them for safety reasons, also they can't size them remotely. Postal services in UK receiving numerous accounts of people claiming goods not received as Posties are having to sign for them.

UK market, regulations and approach cannot be compared to any other country.

If u are genuinely concerned then don't buy. But if you know your AD like you should if ur getting a call from them, then chill out!

[Nairn1980]

Originally Posted by Njw

Watches of Switzerland Group includes the Goldsmiths, Mappin & Webb and Watches of Switzerland stores. You think selling a few extra Rolexes is going to keep them afloat if they needed it, with all their prime retail locations to pay for? Madness

Do I think they’ll survive? Yes I do
Clearly you don’t and that’s totally fine as it’s your opinion.

[Njw]

Originally Posted by Nairn1980

Do I think they’ll survive? Yes I do
Clearly you don’t and that’s totally fine as it’s your opinion.

I’ve never said if I think they will survive one way or the other . Saying you ‘clearly’ know what I think is honestly ridiculous. I said selling Rolexes wouldn’t keep them afloat IF they needed to be kept afloat. Please read what I write literally and don’t interpret it. All my purchase history of new Rolexes is with WOS, the last thing I want is for them to go under.

[Nairn1980]

Originally Posted by Njw

I’ve never said if I think they will survive one way or the other . Saying you ‘clearly’ know what I think is honestly ridiculous. I said selling Rolexes wouldn’t keep them afloat IF they needed to be kept afloat. Please read what I write literally and don’t interpret it. All my purchase history of new Rolexes is with WOS, the last thing I want is for them to go under.

[RJM25R]

Originally Posted by Njw

Watches of Switzerland Group includes the Goldsmiths, Mappin & Webb and Watches of Switzerland stores. You think selling a few extra Rolexes is going to keep them afloat if they needed it, with all their prime retail locations to pay for? Madness

If they get 250 people to pay an average £7,000 each that’s almost £2m which WOULD enable them some breathing space.

They are still trading online (albeit not Rolex) so it could well be that it would save their bacon from a cash-flow point of view ie to pay rent etc......

Nobody really knows but I for one wouldn’t be paying for something with no endgame.

As a cautionary tale, in a previous life I sold furniture

Im aware of a variety of companies “Too big to fail” who were still taking balances off people for furniture still in China etc. when they were slipping down down down, there was evidence of offering better deals and faster delivery etc if you paid in full up front......

Not quite the same but one of them were trying desperately to stay afloat with other people’s money and it came to light when at 9am a few days later when the staff all turned up to work to find the doors chained closed..... Uno/World of Leather.......

https://www.google.com/amp/s/www.mir...urt-534516.amp




Other opinions are available.

[Batman85]

I’ve just been offered 2 rare SS pieces and I went for 1. I wanted both but that is not allowed :)

The link is a direct payment link from the AD, so there’s no break in relationship with the AD (for S75 Consumer Credit Act purposes - UK). All paid for via credit card and my credit card statement is showing the ADs name and not any random third party processing company.

I’ve known my AD a long time so had no issues with who I was dealing with.

I’m not quite getting all the negativity, which just seems like scaremongering to me.

[mongrelnomoad]

Originally Posted by Batman85

I’ve just been offered 2 rare SS pieces and I went for 1. I wanted both but that is not allowed :)

The link is a direct payment link from the AD, so there’s no break in relationship with the AD (for S75 Consumer Credit Act purposes - UK). All paid for via credit card and my credit card statement is showing the ADs name and not any random third party processing company.

I’ve known my AD a long time so had no issues with who I was dealing with.

I’m not quite getting all the negativity, which just seems like scaremongering to me.

I don’t think it’s scare mongering. I think it has more to do with people having different levels of risk tolerance. Without their balance-sheet infront of us, it’s impossible to categorically state that they’re not strained for cash, and in these uncertain and unprecedented times, some would prefer to err on the side of caution.

I’m not in the position where I have to choose (no relationship with WOS, no phone call), so I don’t have to make the call. If I was, though, there’d be a lot of contrary voices arguing in my head...

[sp006]

Originally Posted by Batman85

I’ve just been offered 2 rare SS pieces and I went for 1. I wanted both but that is not allowed :)

The link is a direct payment link from the AD, so there’s no break in relationship with the AD (for S75 Consumer Credit Act purposes - UK). All paid for via credit card and my credit card statement is showing the ADs name and not any random third party processing company.

I’ve known my AD a long time so had no issues with who I was dealing with.

I’m not quite getting all the negativity, which just seems like scaremongering to me.

You had a much different tone about ADs last month. There is a reason for the negativity.





Sent from my iPhone using Tapatalk

[Njw]

Originally Posted by Batman85

I’m not quite getting all the negativity, which just seems like scaremongering to me.

Not like there's anything exceptional going on in the world right now that might affect people's decisions to buy luxury goods...everything's business as usual

[tottallyoff]

My contact stated to me that I have a choice of :

Explorer II Black Dial
Steel and Rose GMT “Root Beer”
Steel GMT “Batman” Jubilee B’let
Stainless Skydweller black or white dial
James Cameron Deepsea
50th Anniversary Seadweller

For daytona:

There’s a steel and gold white dial, steel and gold black dial with diamond markers, steel and gold mother of pearl diamond dial, rose gold oysterflex chocolate dial, and rose gold oysterflex black dial with pink sub dials

I paid for 2 - batman and dssd. 18K all together.

[Batman85]

Originally Posted by Njw

Not like there's anything exceptional going on in the world right now that might affect people's decisions to buy luxury goods...everything's business as usual

I was referring to the countless posts on how not to go ahead with it, it’s a scam, you’re not covered, you’ll lose out, there no physical watch that exists and they’re selling to everyone to raise cashflow and you’ll be waiting indefinitely etc etc.

There’s a physical watch and pay by credit card direct to AD (which is what happens) and you’ll be fine.

[RJM25R]

Originally Posted by Batman85

I’ve just been offered 2 rare SS pieces and I went for 1. I wanted both but that is not allowed :)

The link is a direct payment link from the AD, so there’s no break in relationship with the AD (for S75 Consumer Credit Act purposes - UK). All paid for via credit card and my credit card statement is showing the ADs name and not any random third party processing company.

I’ve known my AD a long time so had no issues with who I was dealing with.

I’m not quite getting all the negativity, which just seems like scaremongering to me.

Interested to know you’re position here.

What “rare” stainless watch have you gone for?

And


You’re very reassured that you aren’t being taken for a ride, what assurances have you got?

[Batman85]

Originally Posted by sp006

You had a much different tone about ADs last month. There is a reason for the negativity.





Sent from my iPhone using Tapatalk

Does it sound like I’ve changed my tone anywhere? Have I praised ADs and said how amazing they all are now? It’s obvious what’s going on now. They need us more now and have lost that leverage they had, and in a way we need them too (me anyway, as I’d always want my name on the card of these fine watches).

[Exceptional]

This is a simple risk v reward scenario.

If you are risk adverse, then you wouldn't even consider it.

If your willing to risk a few grand for the watch you want, knowing you may not be covered if say WoS goes under, you should go for it.

Everything else is irrelevent at this stage.