AD Deposit question

[Cool Hand]

So, a local AD that I met with over a year ago regarding purchase of an Explorer has been in contact with me via text messaging over the last few weeks. He has not had an available watch, but has assured me that I am "on the list". I have no purchase history with this AD, but they are a fairly well respected local chain.

Today I received a text from him telling me that they could now accept a 30% deposit, and to forward my information so that he could send a link to pay. No other information was given, but I asked for terms and refund policy for my commitment. He told me that the deposit was refundable, but could not give other information on a timeline receipt of the watch.

My question is - is this normal practice?

[MrBigSmiles]

Every AD is different. But I’ve been asked to put down a 25% - 30% deposit for a special order item.


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[Spoonage]

It is common, but I would make sure in writing that it is 100% refundable (and not just store credit). I would also push to see where that puts you on the "list". If they can't tell you where you're at on the list I would think about other AD.


Only once have I ever paid a deposit on a watch. However that was early in my watch hobby on a limited production watch of less than 1000 world wide and only 150 to the US (for YR1). I put a deposit down about 3 months before the watch was even released. Other than that no. I have not even put a deposit on my DaytonaC.

[Vigilance247]

I have very limited experience and have only one Rolex purchase with an AD. In my case, the deposit was 10%.

[kbutler1]

I was just asked to put down 50% at an AD for watches they said they could get by Christmas. Not any of the hot, new pieces either, just a classic matching set for me and my wife. I passed as I have a few other ADs I can probably go talk to. I'm not too interested in giving them money for pieces that they could sell any day of the week.

[Smobews]

I had to put down 50% for Explorer 2. I’m hoping that my place in line doesn’t come up until after the 50th anniversary refresh next year.

[zjd168]

always be careful when asked to provide personal information and to open any link involving money transaction

[doboy007]

Originally Posted by Cool Hand

Today I received a text from him telling me that they could now accept a 30% deposit, and to forward my information so that he could send a link to pay.

send a link to pay. Hmmm

[JRell]

Every AD is different, never put a deposit down, but I guess wouldn’t be opposed to it.

[vh2k]

Make an appointment and visit the AD in person.

[Belugahype]

Originally Posted by vh2k

Make an appointment and visit the AD in person.

I don't think it's strange that they ask for a Deposit, I've experienced it before myself.

Personally, I would go with this route. I don't think I would feel comfortable sending that much money over the phone without verifying. If possible, use a credit card or paypal for an extra layer of protection if you can't meet the AD in person.

[hbg1]

Link to pay is definitely not something I would do.
As mentioned above, go in person to the AD and put the deposit down.

[ricardo-sf]

I would not send payument over a link sent in a SMS ..

i would call them on the phone .. work out that there is a fair refund policy .. and a date by when if the watch cannot be furnished, the money would be refunded.

.. then i would make the deposit via CC at their store.

you run the risk that the jeweler goes out of business befoer you get your watch .. you would then become a creditor and probably be at the end of the line to get paid (after the bank, etc) ..

[frtorres87]

I’m in the process of purchasing a new watch from a news AD. Due to Covid the store has been shut down so I did in fact leave a deposit through a link and received an invoice for it. The AD got the okay to open tomorrow and I have an appointment to meet the owner. All depends on the AD.


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[HogwldFLTR]

I put down 50% on a SkyD and received one of the first one delivered. It also allowed less payment at the time I picked up the watch.

[SAlNlDllvllAlNl]

All ADs are different. I've put down 20% before. If you don't feel comfortable doing it remotely, just go in and put the deposit down. Your deposit would definitely push you ahead of anyone just on the "list" without a deposit.

[placek]

I let my AD know that I was interested in a Tiffany OP for my wife and a couple days later she called me to say that they were able to put a waiting list together for this one and I would be at the top of the list. 20% deposit. Hoping to get it in a reasonable amount of time.

[marlopez]

I was asked to put a 20% deposit in a precious metal watch that isn’t common


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[Henrimontgomery]

Don’t put a deposit unless you have guarantee you’ll get it back.

What if the ad gets bankrupt? You’ll lose your deposit. Make sure to ask, in writing, how they will handle your cash.

[szabo_martin]

I must be lucky, never had to put a deposit with my AD. Got an email that they have the watch I want asking if I want it, I said yes. Next day go in and buy it. I even asked last time if he wants a deposit he said no

[Seddyspaghetti]

never had to do it but wouldn't be opposed if the terms were clear and it helped me get the watch "faster"

[Etschell]

i was asked for a full deposit once and turned it down. this was several years ago.

[Nikrnic]

Nothings normal nowadays. I'd leave the deposit then you can start bugging him after four weeks.

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[Shdrolex]

I have given a deposit before. ADs do practice this.

[shaunylw]

you have been waiting a year for an explorer? I would start talking with a different AD, thats too long for an explorer. I wouldn't have confidence this AD is getting you a watch. If they haven't had one, and there is a list, how many years is it going to take? You could probably find one for less than 1k over retail and have it by the weekend. Or, potentially have one within a few months with another AD. I would start visiting other shops.

[Kliminator]

I've put down a deposit for a special order.. This is a different situation as I was given a timeline of when the watch would arrive (it came in the quoted time) at which I paid the balance

[coconilla]

I’ve put down 20% deposit for a DJ special order because they can guarantee they will have it in but they said no deposit for my partner’s Explorer 1. They said to just wait and he ended up getting a call from a different AD 3 weeks later. You should go to a different AD and see what you can find. Explorer 1 taking more than a year sounds a bit ridiculous in my opinion

[uhren917]

I put 10% down on TT Daytona they could order and that was promised in one month.

Worked out according to plan with my trusted AD.

[Fleetlord]

I have always felt that AD that ask for deposits might have cash flow issues and might not be around to follow through. Just my opinion...

[MrJKLFoams]

From my local AD they wont ask any deposit unless the watch is already available. But that deposit is just to make sure that you will come and pay the rest upon pick up but the deposit is non-refundable.