Buying Rolex in cold hard cash

[brandrea]

Welcome to the forum.

I buy at an AD especially since this is your first. If they don’t have the reference you are looking for, I’d use one of the trusted sellers here.

[GONZO2LR]

if you use cash, getting cash back from them might be hard...with a credit card...your just a phone call away from getting it back. and they will do the research...

[ink3027]

Everyone soak in this moment, remember it to tell your grandkids -- we are all present to witness the "cold hard cash" phrase usage world record.

[Protour2003]

Go to David SW, find the watch you want, get it shipped and save the tax. Can't lose.

[David5807]

Originally Posted by bp1000

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

This

[GatorSox]

Originally Posted by Protour2003

Go to David SW, find the watch you want, get it shipped and save the tax. Can't lose.

This


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[DonRickles]

🤨

[danyvw]

TS from TRF, no taxes, no hassle and trustworthy. Simple.

[jinikari01]

I stopped after reading canal st.

[Mr. Miami]

I"d go to an AD with cash.

[timepiecegentleman]

Stuff is sold on Canal Street for a reason. Who would you even consider going there? The reason they want cash is because when you DO find out something isn’t right, you can’t charge it back.

You’ve saved how many years to get your dream piece and now you’re actually considering risking the chance to save a few bucks?

Take what you’ve saved and either go to an AD or reach out to a trusted Secondary Market Dealer. There are plenty of them in this Forum.

Put the difference on a credit card and keep paying it off if you need too but spending 500-1000 more for piece of mind is definitely worth not risking $5k+


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[sgwatchguy]

Originally Posted by 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.

OP, can you share what watch it is?

I would go with the others recommending caution. You’ve been frugal and patient. Make that count. Research and “buy the seller”, even if it means a little bit more for tax.




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[ferrissteve11]

While you're at it, I've got tomorrow's winning lotto numbers too. Give you a deal on it lol.

All seriousness I get the savings on taxes, but this being your first I'd buy off a Trusted Seller recommended by this forum. You'd get what you want worry-free.

[JebM]

depends how cold and how hard

[Nadi090]

Cold hard cash or not you need to be extra careful.
So for your first purchase, you should go to an AD...
That's safer and with a warranty.

[Tools]

Originally Posted by P1nky_Up

Cold Hard Cash

Paying cash does not mean that you will not get a proper receipt.

He's just offering a discount and avoiding credit card fees. It's win-win for the both of you.

[Silver_Fox]

Is this a serious question?? Of course it will be harder to deal with potential problems if you pay in cash. The money is gone.


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[R_Rated]

If you get a recipt then you're probably okay. BTW, in addition to sales tax, cash should net you at least another 3% discount with the CC processing fee. I pay with dollar bills at my AD all the time (well, when I say all the time I mean every couple years when I can afford haha) for said discount and also ship across state lines to avoid tax. This is ~10% savings to me before we even start staling discounting the actual price of the watch.

Canal street sounds kind of sketchy... are you sure you can't find a similar deal at someone trusted like Davidsw, Bobs or Watchbox?

[Pantheon]

Originally Posted by jinikari01

I stopped after reading canal st.

Originally Posted by timepiecegentleman

Stuff is sold on Canal Street for a reason. Who would you even consider going there? The reason they want cash is because when you DO find out something isn’t right, you can’t charge it back.

Originally Posted by excelerater

not much on canal street is legit

Originally Posted by 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?

SMH at the narrow mindedness of the posts in this thread. This is coming from someone that was born and raised in Lower Manhattan right on the outskirts of Chinatown. There are more than 30+ jewelers within 4-5 city blocks in that area that has been in business for more than than a couple of decades. If it were up to you guys they would've went out of business long ago. Rent in that area is really high due to the high concentration of tourists and local population. Also these jewelers have no problem taking credit cards they just are essentially offering a 9% cash discount. I highly doubt every tourist carry tons of cold hard cash on them. They're a big market for modified/stock watches. I'm sure these businesses can provide you with proper receipts.

I do agree with the posters that say to exercise caution but how is that different from buying pre-owned from anywhere else? Like I said make sure you ask the right questions and do your research.

There is a big concentration of replica watches and luxury bags in the area that I do agree with. They have agents on the streets offering these fakes to tourists where they'll lead to some abandoned booby trap door store. A far cry from the legitimate jewelers that have security buzzers on their doors where you can't even just walk in casually without them seeing you.

[franktehtank]

You can just call it cash. You don't have to call it cold hard cash like 4 times, we know what you mean.

Buy the seller! If you don't trust the guy or don't feel good about it, then don't do it!

[4 Aussies]

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!

[GoingPlaces]

NO. Soft warm cash. It's luxury purchase, don't treat this like a street deal. The risk is not worth it.

[Dlong]

Forget the watch and walk a few blocks and get a good egg roll.

[Buckaroo Banzai]

Originally Posted by 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.

If the seller can't demonstrate that the watch is real with papers, etc., then I suggest you visit an AD or go to a reputable Grey dealer. You don't want to have an issue with your first Rolex experience.

[jinikari01]

Originally Posted by Pantheon

SMH at the narrow mindedness of the posts in this thread. This is coming from someone that was born and raised in Lower Manhattan right on the outskirts of Chinatown. There are more than 30+ jewelers within 4-5 city blocks in that area that has been in business for more than than a couple of decades. If it were up to you guys they would've went out of business long ago. Rent in that area is really high due to the high concentration of tourists and local population. Also these jewelers have no problem taking credit cards they just are essentially offering a 9% cash discount. I highly doubt every tourist carry tons of cold hard cash on them. They're a big market for modified/stock watches. I'm sure these businesses can provide you with proper receipts.

I do agree with the posters that say to exercise caution but how is that different from buying pre-owned from anywhere else? Like I said make sure you ask the right questions and do your research.

There is a big concentration of replica watches and luxury bags in the area that I do agree with. They have agents on the streets offering these fakes to tourists where they'll lead to some abandoned booby trap door store. A far cry from the legitimate jewelers that have security buzzers on their doors where you can't even just walk in casually without them seeing you.

My bad. You're right. Not everything and everyone is bad on Canal st.

[somthingnew]

Slightly off topic, for those that pay in cash, do you really mean bills? All I can think of is the briefcase with that stacks of money. How do you carry it in? Or do we mean certified check.

Back on topic, be careful. Research the shop. If they have been there a while, you can quickly see if they are reputable.

[Calatrava r]

I would steer clear of these people and buy from an AD. Why would you even want to carry a large amount of currency on you in NYC in that area.

[R_Rated]

I bought an estate Harry Winston ring on Canal Street for a song. HW authenticated. Came with documents and GIA certificate that checked out. Crappy people everywhere.

[Pantheon]

Originally Posted by jinikari01

My bad. You're right. Not everything and everyone is bad on Canal st.

Appreciate the understanding

Im always an advocate for playing it safe but sometimes choice is good

[ArtNouveau]

My go to Seiko dealer guy is on Mott St right off of Canal. Very legit jeweler and AD for a half dozen mid range watch brands. He also dabbles in a few pre-owned Rolex, most taken as trade-ins for jewelry.
So yes there's good sources in the area but no I wouldn't pay cash and lose the protections of a CC transaction.