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Njw · 2 April 2020, 10:14 PM

Been on the waiting list for a 214270 for 3 months. Got a text today to say an AD could allocate me one for collection when they reopened. Agreed to pay a deposit to reserve it, but they want a 100% deposit. There is no way I'm leaving that amount as a deposit given what's going on. Had to pass :(

cocoabutter · 2 April 2020, 10:25 PM

I agree, 100% sitting in their bank account isnt great, better in your bank account and wait for everything to shake down. It will be offered to you again no doubt.

Yess · 2 April 2020, 10:30 PM

That, by definition, isn't a "deposit", it's a purchase. Lq

Brew · 2 April 2020, 10:32 PM

100% "deposit". lol that's rich!

alphadweller · 2 April 2020, 10:38 PM

I wouldn't give away 7 grand to an AD in the hope they'll reopen after this covid-19 catastrophe. Who knows who will still be in business the day after.

Marcjvr · 2 April 2020, 10:38 PM

Shady that they would even ask that. Glad you walked

AJMarcus · 2 April 2020, 10:50 PM

You did the right thing. They just want cash on hand. If they wanted to sell the watch they could have had a courier delivery it to you. Or the SA drop it at your door with the toilet paper. My gut tells they don’t have it yet

mongrelnomoad · 2 April 2020, 10:55 PM

Quote:

Originally Posted by Njw

Been on the waiting list for a 214270 for 3 months. Got a text today to say an AD could allocate me one for collection when they reopened. Agreed to pay a deposit to reserve it, but they want a 100% deposit. There is no way I'm leaving that amount as a deposit given what's going on. Had to pass :(

I’d be very worried about counterparty risk right now.

deansot53 · 2 April 2020, 11:00 PM

Good afternoon I was also offered a Sub but again had to pay 100% in advance not knowing when I would get it as the AD was shut. Its interesting as I would have paid 10% or so but a lot to part with and not have the item in these uncertain times.

Watchflair · 2 April 2020, 11:05 PM

Smart move on your part. Who knows how long this goes on for and who knows what business will be left standing.

gramo · 2 April 2020, 11:05 PM

Quote:

Originally Posted by Njw

Been on the waiting list for a 214270 for 3 months. Got a text today to say an AD could allocate me one for collection when they reopened. Agreed to pay a deposit to reserve it, but they want a 100% deposit. There is no way I'm leaving that amount as a deposit given what's going on. Had to pass :(

Had this been one of the big AD Chains

Geckobros · 2 April 2020, 11:06 PM

So they want to borrow your money indefinitely for 0% interest during these crazy times? Uh, no. It looks like some AD's are still playing AD games.

Michael T · 2 April 2020, 11:11 PM

Quote:

Originally Posted by mongrelnomoad

I’d be very worried about counterparty risk right now.

Agreed. They are looking to raise cash, this is a red flag, no one knows how long this will go on and whether AD’s who are undercapitalized will reopen. There is going to be a lot of past due rent.

WatchNutcase · 2 April 2020, 11:14 PM

Wise decision mate

AF_Rob · 2 April 2020, 11:18 PM

Quote:

Originally Posted by Yess

That, by definition, isn't a "deposit", it's a purchase. Lq

I know, right! I would have passed as well.

tanask211 · 2 April 2020, 11:37 PM

The AD can reach out to as many customers with such tricks to gather as much liquid cash with zero interest. Once you have paid them then you cannot withdraw the deposit as it will be forfeited..

Sent from my HMA-L29 using Tapatalk

Nairn1980 · 2 April 2020, 11:40 PM

If it’s a model I really wanted I’d have no problem paying 100% right now

Geckobros · 2 April 2020, 11:44 PM

Quote:

Originally Posted by Nairn1980

If it’s a model I really wanted I’d have no problem paying 100% right now

Even if I was filthy rich, I would pass on principle alone. OP's pass was smart. No honey, no money.

JayB · 2 April 2020, 11:45 PM

Good move Njw and deansot53, for an AD to be trying this sounds very desperate given the current climate.

Out of interest and assuming no forums rules are being violated would you be willing to name the AD's?

timlaw · 2 April 2020, 11:46 PM

that is simply "extracting the urine" - cant believe they seriously asked you to do that - if they had been willing to have it sent to you immediately by insured courier fine but pay now in full for delivery at some unspecified time is laughable

mrcsatx · 2 April 2020, 11:48 PM

Quote:

Originally Posted by AJMarcus

You did the right thing. They just want cash on hand. If they wanted to sell the watch they could have had a courier delivery it to you. Or the SA drop it at your door with the toilet paper. My gut tells they don’t have it yet

This...I know other ADs are offering delivery of your purchase.

Sent from my SM-N960U using Tapatalk

schoolboy · 3 April 2020, 12:02 AM

It is mean that they do that. Even disrespectful.

“My” AD has tried shady things with me and it sucks. But it’s the only AD within a 4 hour radius.

As a matter of fact, that’s why I don’t really like calling them “my AD.” To me they are just a store that has watches that I like (or doesn’t Hahahaha)

schoolboy · 3 April 2020, 12:03 AM

Quote:

Originally Posted by Geckobros

Even if I was filthy rich, I would pass on principle alone. OP's pass was smart. No honey, no money.

Agreed. I money wasn’t an issue and I was stupid rich....

I wouldn’t be waiting for any watches from ADs or begging them to sell me anything.

fsprow · 3 April 2020, 12:08 AM

Only with a bill of sale, indicating the serial number etc. and from a dealer you have confidence in. If they go under, the watch will be your property with proof of sale to you.

Njw · 3 April 2020, 12:17 AM

When I bought a 114060 from the same dealer and the watch was in stock they asked for a nominal deposit to hold it, which was about 4%. Asking for 100% set off some alarm bells. Obviously they need to keep their cash flow going in the short term, but this didn't give too much confidence.

nsxnext · 3 April 2020, 12:22 AM

100% deposit means I am entitled to 100% of the watch.
Anything less than that is shady business.

shawn13ca · 3 April 2020, 12:27 AM

They should take a minute, now that the cash is lacking, to remember all the time they refused customers. All the time they asked to bundle, all the time they waited for "whales" or VIPs.

Eric-London · 3 April 2020, 12:30 AM

Quote:

Originally Posted by Njw

Been on the waiting list for a 214270 for 3 months. Got a text today to say an AD could allocate me one for collection when they reopened. Agreed to pay a deposit to reserve it, but they want a 100% deposit. There is no way I'm leaving that amount as a deposit given what's going on. Had to pass :(

Don't blame you.

Offer them 50%. They'll come around.

wcl884 · 3 April 2020, 12:55 AM

Cant' you pay with a credit card...and make sure you receive a receipt with model, serial number, expected ship-date on receipt.

If they don't ship, you can always call your credit card company to hold payment.

Ballzzz · 3 April 2020, 12:56 AM

Quote:

Originally Posted by Watchflair

Smart move on your part. Who knows how long this goes on for and who knows what business will be left standing.

How’s MB doing, you guys are closed right? Service open graveyard crew, sales staff “furloughed”?

2 April 2020, 10:14 PM	#1
Njw "TRF" Member Join Date: May 2018 Location: Uk Posts: 72	Kind of got the call. Had to pass Been on the waiting list for a 214270 for 3 months. Got a text today to say an AD could allocate me one for collection when they reopened. Agreed to pay a deposit to reserve it, but they want a 100% deposit. There is no way I'm leaving that amount as a deposit given what's going on. Had to pass :(

2 April 2020, 11:05 PM	#10
Watchflair 2024 SubLV41 Pledge Member Join Date: May 2012 Real Name: Jim Location: Westchester NY Watch: Love em all Posts: 5,920	Smart move on your part. Who knows how long this goes on for and who knows what business will be left standing. __________________ Remember what matters. Value everyday

2 April 2020, 11:45 PM	#19
JayB "TRF" Member Join Date: Aug 2015 Location: UK Watch: EXP, DJ, NF Posts: 710	Good move Njw and deansot53, for an AD to be trying this sounds very desperate given the current climate. Out of interest and assuming no forums rules are being violated would you be willing to name the AD's? __________________ In 1953 they used Rolex Oysters and oxygen on Everest. In 1978 they managed without the oxygen. Rolex Explorer -- Rolex Datejust -- Tudor North Flag -- Omega De Ville Trésor -- Tudor Black Bay GMT -- Omega Speedmaster Professional -- Tudor Black Bay Fifty Eight

2 April 2020, 11:46 PM	#20
timlaw "TRF" Member Join Date: Sep 2011 Real Name: Tim Location: Worcestershire,UK Watch: Coke 16710 Posts: 894	that is simply "extracting the urine" - cant believe they seriously asked you to do that - if they had been willing to have it sent to you immediately by insured courier fine but pay now in full for delivery at some unspecified time is laughable __________________ Tim. 124060 Submariner, 16710 Coke, 16570 Black dial, Datejust 41 Wimbledon dial, Tudor Black Bay GMT, Tudor Black Bay 58 Blue, Tudor Black Bay 58 925, Tudor Prince Date Chronograph (panda dial)

2 April 2020, 10:25 PM	#2
cocoabutter "TRF" Member Join Date: Jan 2012 Location: London UK Watch: SS Daytona Posts: 58	I agree, 100% sitting in their bank account isnt great, better in your bank account and wait for everything to shake down. It will be offered to you again no doubt.

2 April 2020, 10:30 PM	#3
Yess "TRF" Member Join Date: Jan 2020 Location: Good Hope Watch: 124060 Posts: 1,596	That, by definition, isn't a "deposit", it's a purchase. Lq

2 April 2020, 10:32 PM	#4
Brew "TRF" Member Join Date: Mar 2018 Real Name: Larry Location: Finger Lakes Posts: 6,007	100% "deposit". lol that's rich!

2 April 2020, 10:38 PM	#5
alphadweller "TRF" Member Join Date: Nov 2019 Real Name: Vic Location: Spain Watch: SD43 Posts: 6,187	I wouldn't give away 7 grand to an AD in the hope they'll reopen after this covid-19 catastrophe. Who knows who will still be in business the day after.

2 April 2020, 10:38 PM	#6
Marcjvr "TRF" Member Join Date: Sep 2017 Location: Southeast Watch: 214270 Posts: 2,739	Shady that they would even ask that. Glad you walked

2 April 2020, 10:50 PM	#7
AJMarcus "TRF" Member Join Date: Nov 2010 Real Name: AJ Location: USA Watch: Swiss Posts: 5,236	You did the right thing. They just want cash on hand. If they wanted to sell the watch they could have had a courier delivery it to you. Or the SA drop it at your door with the toilet paper. My gut tells they don’t have it yet

2 April 2020, 11:00 PM	#9
deansot53 "TRF" Member Join Date: Jun 2016 Location: UK Posts: 260	Good afternoon I was also offered a Sub but again had to pay 100% in advance not knowing when I would get it as the AD was shut. Its interesting as I would have paid 10% or so but a lot to part with and not have the item in these uncertain times.

2 April 2020, 11:06 PM	#12
Geckobros "TRF" Member Join Date: Nov 2019 Location: Arrakis Posts: 873	So they want to borrow your money indefinitely for 0% interest during these crazy times? Uh, no. It looks like some AD's are still playing AD games.

2 April 2020, 11:14 PM	#14
WatchNutcase Banned Join Date: Apr 2014 Real Name: Matt Location: UK / EU & Canada Watch: Sub 114060 Posts: 1,349	Wise decision mate

2 April 2020, 11:37 PM	#16
tanask211 "TRF" Member Join Date: Sep 2018 Posts: 318	The AD can reach out to as many customers with such tricks to gather as much liquid cash with zero interest. Once you have paid them then you cannot withdraw the deposit as it will be forfeited.. Sent from my HMA-L29 using Tapatalk

2 April 2020, 11:40 PM	#17
Nairn1980 "TRF" Member Join Date: Jan 2010 Location: UK Watch: GMT Posts: 8,385	If it’s a model I really wanted I’d have no problem paying 100% right now

3 April 2020, 12:02 AM	#22
schoolboy Banned Join Date: Nov 2017 Real Name: Jesus Location: Texas Watch: 116234 Posts: 8,721	It is mean that they do that. Even disrespectful. “My” AD has tried shady things with me and it sucks. But it’s the only AD within a 4 hour radius. As a matter of fact, that’s why I don’t really like calling them “my AD.” To me they are just a store that has watches that I like (or doesn’t Hahahaha)

3 April 2020, 12:08 AM	#24
fsprow 2024 Pledge Member Join Date: Dec 2018 Real Name: Frank Location: Dallas,NY,Colo. Watch: Patek 5168, 5170P Posts: 2,543	Only with a bill of sale, indicating the serial number etc. and from a dealer you have confidence in. If they go under, the watch will be your property with proof of sale to you.

3 April 2020, 12:17 AM	#25
Njw "TRF" Member Join Date: May 2018 Location: Uk Posts: 72	When I bought a 114060 from the same dealer and the watch was in stock they asked for a nominal deposit to hold it, which was about 4%. Asking for 100% set off some alarm bells. Obviously they need to keep their cash flow going in the short term, but this didn't give too much confidence.

3 April 2020, 12:22 AM	#26
nsxnext "TRF" Member Join Date: Feb 2012 Real Name: Neil Location: PA Watch: ing the detectives Posts: 159	100% deposit means I am entitled to 100% of the watch. Anything less than that is shady business.

3 April 2020, 12:27 AM	#27
shawn13ca "TRF" Member Join Date: Jul 2019 Location: Canada Posts: 300	They should take a minute, now that the cash is lacking, to remember all the time they refused customers. All the time they asked to bundle, all the time they waited for "whales" or VIPs.

3 April 2020, 12:55 AM	#29
wcl884 "TRF" Member Join Date: Dec 2008 Location: San Francisco Posts: 353	Cant' you pay with a credit card...and make sure you receive a receipt with model, serial number, expected ship-date on receipt. If they don't ship, you can always call your credit card company to hold payment.

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