If you want to buy a Rolex

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Thegreyman
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Re: If you want to buy a Rolex

Post by Thegreyman »

^^^it's called section 75 protection, see linked article below, essentially yes pay at least £100 on a credit card and you are covered

https://www.moneysavingexpert.com/shopp ... purchases/
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Re: If you want to buy a Rolex

Post by Thegreyman »

Back to the whole Rolex thing. The Rolex AD that I bought both my Sub and Tudor GMT from did not request any deposit, only required payment in full when I was picking up the watch and provided all warranty cards etc straight away.

I wouldn't be too keen on paying in full before the watch had a confirmed delivery date however section 75 would give some peace of mind.

I would expect having taken payment in full that the price would be confirmed at that level and not then subject to change, that would be normal in a business transaction in my view.

I agree it must be somewhat frustrating being a Rolex AD with all the enquiries for watches that they can't get their hands on. They deserve their 35% or whatever mark up there is, as they are only going to earn that on a low volume of sales (of the SS Sports Rolex models that they get supplied). As Neil says probbably more profitable to sell many more Omega, Breitling, Panerai or other high end models where you maybe give a bit of a discount but can still sell a decent volume and make a decent margin. The grey market prices show that there are decent margins on a lot of these brands for the high street AD.
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Re: If you want to buy a Rolex

Post by Mr Broadside »

De Sisti wrote: Sat Feb 02, 2019 12:22 pm Mekki4/Hughesyn, the second sentence in my quote (above) referred to a previous post, to which I was replying
that I thought the non-refundable deposit may not be legal (happy to be corrected on that).
You are correct. A non refundable deposit would most likely constitute an unfair contract term under the Consumer Rights Act 2015.
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Re: If you want to buy a Rolex

Post by De Sisti »

In 1994 I was able to obtain a discount on a Rolex Explorer II (which I still own) from an Authorised Dealer (AD),
as I was paying in full (for cash). £1755 reduced to £1530.

As an aside. That AD had a six month old Explorer II in their shop window for £1200 the previous day. I didn't have the money
with me at the time, so decided to return the following day. To my disappointment, when I returned it had just been sold.
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Re: If you want to buy a Rolex

Post by Mikkei4 »

hughesyn wrote: Sat Feb 02, 2019 10:53 am
Mikkei4 wrote: Sat Feb 02, 2019 10:20 am
De Sisti wrote: Fri Feb 01, 2019 6:28 pm Paying by credit card will cover the "non-refundable" deposit. Not even sure if that is legal.
Seek a different authorised dealer.
I always thought that payment by credit card will only cover any loss if the transaction is for the whole cost of the item being purchased and is done in 1 CC payment not split over 2 or more.
Amazingly, if you use the credit card even for only part payment (over £100), the credit card company becomes jointly liable for the whole thing. Even if you pay the rest a different way.
Out of interest what does "jointly liable" actually mean in money terms? That the credit card company has to pay the whole amount in any circumstances? or they pay that bit that was on their credit card? any other option?

EDIT - I was part way through writing the above so didn't see the link explaining credit card cover until after I posted. thanks.
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Re: If you want to buy a Rolex

Post by Mikkei4 »

De Sisti wrote: Sat Feb 02, 2019 12:44 pm In 1994 I was able to obtain a discount on a Rolex Explorer II (which I still own) from an Authorised Dealer (AD),
as I was paying in full (for cash). £1755 reduced to £1530.

As an aside. That AD had a six month old Explorer II in their shop window for £1200 the previous day. I didn't have the money
with me at the time, so decided to return the following day. To my disappointment, when I returned it had just been sold.
Err, things were a little different in 1994 even with Rolex watches so maybe a little irrelevant to purchasing 1 nowadays and what ADs want or don't want people to do?
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Re: If you want to buy a Rolex

Post by De Sisti »

Yes, I'm aware of that. Just letting people know that Rolex now have a stranglehold on distribution and nowadays, won't allow discounts. I have been told that if Authorised Dealers (ADs) give discounts they lose their AD accreditation. Happy to be corrected on that.
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Re: If you want to buy a Rolex

Post by downer »

Not all Rolex watches are the same, and not all AD's are the same.

Of the last three I have purchased, one was available ex-stock, one I had to wait a week for and the other took about a year. On one, I got a discount, and the other two were RRP. In all three cases I received small promotional items from the AD. I did not leave deposits, I always received the warranty docs and the stickers were removed in front of me.
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Re: If you want to buy a Rolex

Post by what-time-is-it »

De Sisti wrote: Sat Feb 02, 2019 2:49 pm I have been told that if Authorised Dealers (ADs) give discounts they lose their AD accreditation. Happy to be corrected on that.
I've heard similar comments. Feels very much like price fixing and anti-competitve tactics doesn't it.
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Re: If you want to buy a Rolex

Post by De Sisti »

downer wrote: Sat Feb 02, 2019 2:54 pm In all three cases I received small promotional items from the AD.
I've cheekily asked for a Rolex golfing umbrella. They said they'd put one aside for me. :thumbup:
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Re: If you want to buy a Rolex

Post by Robotaz »

StrappedUp wrote:^^^ agreed. That's a bit extreme considering they've supposedly got waiting lists as long as The Mall.

I can imagine ...

"Please sir, could I pass on the £5k luxury purchase I was supposed to make as I've unfortunately lost my job."

"I'm sorry Sir, but you'll just have to sell all your worldly possessions and stump up the additional £4k. Or move your family out onto the streets if needs be.
What else do you expect me to do with the watch?
Surely not ask the next person on the ever growing waiting list?"
That’s a painful illustration. Shame on that dealer. That’s rotten.


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Re: If you want to buy a Rolex

Post by TG3N »

what-time-is-it wrote: Sat Feb 02, 2019 3:29 pm
De Sisti wrote: Sat Feb 02, 2019 2:49 pm I have been told that if Authorised Dealers (ADs) give discounts they lose their AD accreditation. Happy to be corrected on that.
I've heard similar comments. Feels very much like price fixing and anti-competitve tactics doesn't it.
Not really.

Rolex - like any company - are entitled to specific the price their product sells at. It’s just the case that being the brand that keeps many ADs in profit, they can be more draconian & pushy in their contracts with ADs who take their product.

Why do you think ADs spend fortunes in bedecking their stores in identikit Rolex furnishing? Image.

Discounting isn’t ‘sexy’ - it isn’t in keeping with the ethos of ‘luxury’, scarcity, exclusivity, premium etc.

Hence why Burberry literally set fire to £90m of their own stock over five years, and Richmonte bought-back near £500m of their own watches, rather than see them fall into bargain bins & sales.
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Re: If you want to buy a Rolex

Post by hughesyn »

TG3N wrote: Sun Feb 03, 2019 1:09 pm
Discounting isn’t ‘sexy’
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Re: If you want to buy a Rolex

Post by Amor Vincit Omnia »

hughesyn wrote: Sun Feb 03, 2019 1:22 pm
TG3N wrote: Sun Feb 03, 2019 1:09 pm
Discounting isn’t ‘sexy’
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:lol:

Probably a kind of strange inverse logic going on with me. The more I read about the company's strategies the less I find myself wanting to get on board and the more their products begin to lose appeal.

It isn't "sexy" (to my way of thinking at least) to **** about with people's aspirations and expectations (not to mention their hard-earned and then imposing ridiculous conditions re. warranty cards and stickers &c.) in order to create an aura of ultra-exclusivity.

They can go screw somebody else.
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Re: If you want to buy a Rolex

Post by nbg »

^^^^^I think in reality the only people that Rolex are screwing are the other brands, who can only dream of having such a level of internet coverage to keep their brand at a level where they don’t have to beg customers to take a watch off their hands....

“Just off to check the stickers I carefully stored in the box, of a watch bought a few years ago, before Rolex ADs apparently started messing with customers and removing stickers, as a means of screwing the customer experience! :)

There are a few folk, who if they read the above sentence would realise the absurdity of all the anguish about stickers being removed. Who wears the stickers! :lol:

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