Buying with 100% cold hard cash

[rr-nyc]

Originally Posted by TrajanACC

In response to the worries about carrying a lot of cash on your person, I would say that carrying < $10k is not really any more dangerous or inconvenient than wearing a watch of equal value.

Assuming you're carrying hundreds, that amount of cash can fit in your pocket just as easily as a bifold wallet. It's not like we're talking about needing a duffel bag full of cash or it's spilling out of your pockets.

Not like I would wanna walk around all day with $10k on me, but going from the bank to my car to the AD parking lot and then walking inside shouldn't be a big deal, unless you're in a really seedy area.

If you get robbed for $10k cash, its gone even if you had each serial number of the bills. Best case scenario, your homeowners will cover $200 stolen cash but if you have a deductible, its useless. Being robbed of a $10k watch does not have the same result. The thief can be caught selling it/wearing it and the watch can be insured and replaced.

[rr-nyc]

Not all businesses prefer cash, especially large amounts. Its a security risk for those in the store and it's employees. While it's not uncommon to see large cash transactions occur in NYC, Madison Ave boutiques aren't set up like Best Buy, which has daily armored car pick ups. These people walk to make their daily deposits.

A couple times a year, members of the Saudi royal family come to NYC to go shopping but they typically don't go to the stores, the stores come to their hotel. The family rents the ballroom and every top designer and jeweler is invited to bring their latest products to display. The next day, you pick up what they didn't end up wanting and the cash handlers pay you for what the family wanted to keep. They literally have a luggage full of $10k wraps. Being paid $100k+ in cash is common for the big name designers. I know of one boutique that was handed over $500k in cash. They had to arrange an NYPD escort to take them to the bank because the employees refused to leave the hotel with so much cash.

[Danny83]

No problem especially for the no date sub you are looking @ I did it before

[texasmade]

Originally Posted by Etschell

then how do gas stations do it? this is a serious question.

They have the set price and then a cheaper cash price. I know near me gas is usually around $2.25 a gallon for regular but $2.15 if paying cash. If the gas station said price was $2.15 but didn't price out cc price and charged you more than $2.15 they'd be breaking the law. They get around this by advertising the cash price in bigger font and then under it they'll have the more expensive cc price in much smaller font. They're technically complying since both prices are advertised and the cash price is a discount.

[R.O.L.E.X]

Cash is king

[xIZeitgeistIx]

In Switzerland they have 1000 CHF banknotes. Here, it is a piece of cake to pay cash and no questions asked.

[BLNR Nairobi]

Interestingly, my AD only accepts hard cash.

[AK797]

Originally Posted by xIZeitgeistIx

In Switzerland they have 1000 CHF banknotes. Here, it is a piece of cake to pay cash and no questions asked.

I didn't know that, would be useful. Could buy a ton of your yummy chocs too, no bother.

[Scapegoat]

Cash is over hyped...

[locutus49]

I paid in cash for all my watches. Now we use a debit card that uses your cash in a bank account.

[OgSnowflake]

My Ad takes cash up to $9900 bucks and then after that credit card or you can walk across the street and grab a bank check for a few dollars.

[tng11]

I tried the "cash discount" angle with my AD. No dice - they wouldn't give a penny off for using cash. With that considered, I used my AMEX and got enough points, in addition to unlocking a sign-up bonus enough for a round trip business class ticket to Europe.

[HK Islandboy]

Originally Posted by Dennis94

Hey all, 23 years old and its finally happening. I'm buying my time piece within the next couple of days. I just have a quick question.



I want to buy my watch at an AD with cold hard cash. I've worked as a Licensed Professional at JP Morgan but have since left to work at my own family owned Pizzeria business in the attempt to expand and open up more stores.



I work for 100% cash at my pizzeria and that's all I have, is cash. Will AD's take cash without asking 5 billion questions on where it's from? I don't have any type of pay stub or whatever from my pizzeria. I do have my W2s from JP Morgan, would that suffice?



Or am I overthinking it and I can walk right in with straight cash?

No problem...




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[Fleetlord]

Originally Posted by HK Islandboy

No problem...




Sent from my iPhone using Tapatalk

That is how it's done!

[Tangier11]

I think it has been said, but I know here in Virginia, and I am pretty sure $10K and over has to be reported. I am a car dealer and I found out a business owner is suppose to report ANY amount of cash that they deem as suspicious based on laws from the dept of homeland security. This does NOT mean the AD will do it.

[VicLeChic]

In Spain, you're not allowed to use cash on purchases above €2,500, by law. Anti money lauderimg measure.

A pain in the neck having to use several debit/credit cards with their corresponding PINs from different banks due to daily limits. While trying to pay for an SD43, I had to call a bank due to one of the cards being blocked. Spent 10 min on the phone. Had to listen to attempts to sell me products (loans, investment funds). Once unblocked, I had to go out to reactivate it from a cash machine. The second I stepped out, it started to rain then it was pouring, no umbrella (it never rains in Madrid). Managed to find a cash machine nearby. Came back drenched. Paid the remaining amount. What an ordeal that was.

Maybe I should have read this as signs not to buy? LOL.

It would have been soooo much easier to pay cash. I really felt like the government was restricting my freedom with their stupid law.

[Overwound]

Originally Posted by HK Islandboy

No problem...


Sent from my iPhone using Tapatalk

At first I though you circled the watch you were buying...then I realized it's a rubber band. :)

[mfletch]

As long as the cash isn't splattered with ink you should be fine.

[TheRolexKingofLV]

As a few others have stated...anything over 10k in cash you will fill out IRS papers.

[jinikari01]

i like to rack up on my credit card rewards then pay off the monthly statement in full.

Think about all the frequent flyer miles or cash back points you'll miss out on.

[SDRider]

Originally Posted by Tangier11

I think it has been said, but I know here in Virginia, and I am pretty sure $10K and over has to be reported. I am a car dealer and I found out a business owner is suppose to report ANY amount of cash that they deem as suspicious based on laws from the dept of homeland security. This does NOT mean the AD will do it.

That is the law throughout the United States.

I had Citibank ask me for ID when I walked into a bank and paid my credit card bill with $1,000 cash. They said anything over $500 cash they need to see an ID.

[AndyWright]

Originally Posted by csfischer20

Sub would be my choice and go throw it down man. Business owners love cash. They may check the bills, but that's about it.

Idk. I feel like they may grow suspicious if you carry around that much amount of cash.

[KrismanX]

Anything over $10,000 in cash must be reported, the bank needing ID for over $500 is a bank industry thing. Chase won't let you do most cash based transactions unless you're a chase client with ID. Even exchanging or making change.

[Zestywesley]

I'm younger than you and I've bought multiple new sports cars from a dealer once, cash. Nobody will bat an eyelash as a previous poster talked about 16 year olds buying ferraris all cash.

[yxc145]

Originally Posted by Rolexman17

All they will say is thank you! Also you should get a discount for cash as credit card companies charge them 3-4%, so cash saves the AD from paying that fee to the credit card company.

I am surprised that it doesn't make a difference to many AD. I tried to buy my D-Blue and BLNR with cash, hoping to get a little bit of discount. But both owners of the AD said no difference. I decided to pay with credit and earn some points.

[AK797]

Originally Posted by VicLeChic

In Spain, you're not allowed to use cash on purchases above €2,500, by law. Anti money lauderimg measure.

A pain in the neck having to use several debit/credit cards with their corresponding PINs from different banks due to daily limits. While trying to pay for an SD43, I had to call a bank due to one of the cards being blocked. Spent 10 min on the phone. Had to listen to attempts to sell me products (loans, investment funds). Once unblocked, I had to go out to reactivate it from a cash machine. The second I stepped out, it started to rain then it was pouring, no umbrella (it never rains in Madrid). Managed to find a cash machine nearby. Came back drenched. Paid the remaining amount. What an ordeal that was.

Maybe I should have read this as signs not to buy? LOL.

It would have been soooo much easier to pay cash. I really felt like the government was restricting my freedom with their stupid law.

I once received cash from a dealer I know well for a gold watch I sold to him. I agreed to take the cash rather than a bank transfer as he had just got paid on another deal, and we both went to my bank where it took over half an hour standing at the counter to pay it in. There were only two windows open so I was not the most popular person in town and the queue was very long. Couldn't believe it took so long and I had many forms to fill in and questions on how I got it, never again! Bank transfer only now.

[stylinleems]

Originally Posted by HK Islandboy

No problem...



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This is exactly how I paid for my BLNR (but in CDN currency) & got a great discount last year

[jrs146]

Why is cash always cold and hard?

But in all seriousness, obviously you're not depositing the money in the bank because you don't have reportable income to back it up with. Understood.

If the AD is playing by the books they are required to report any cash transaction over $10,000. Not to say that they will though. To play it safe keep it below the 10K and you should be fine.

[function12]

I would be more worried about you posting your business name and you are getting paid in cash but that is just me.

[pickettt]

The question to ask is, "Why would you?"