If you want to buy a Rolex

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Re: If you want to buy a Rolex

Post by nbg »

De Sisti wrote: Fri Feb 01, 2019 5:57 pm
nbg wrote: Fri Feb 01, 2019 4:37 pm Paying in advance doesn’t however secure the watch at the price when paid if there is a price increase between payment and delivery.
I think it does; but let's just disagree and not get into a pointless discussion about it. As for supply of stainless steel sports models;
I've had two Authorised Dealers (Ads) tell me that such models are in short supply from Rolex, and they (the ADs) get what they are
given and can't order on demand. I had the cash in my bank account and saw no reason not to pay for the watch.

Paying in advance. For those not buying their brand new cars on pcp deals I assumed paying in advance was the norm.
I agree we will just disagree on the payment bit, but agree on the can’t order and don’t know what they are getting bit. :)

Anyway the Explorer is a good watch, so congratulations when it arrives. :thumbup:

Happy to agree on the price bit (after all you are the one with the full purchase invoice and detailed receipt) if you have found an AD that doesn’t know when it will receive the watch you have paid for, but will still happily reduce the margin they make on the watch (which I understand is a lesser margain than many other well known brands) if it were to arrive after a price increase that they won’t be aware of until typically 2-3 days before they have to implement the increase. I would certainly stick to an AD like that. :)

Out of interest would the AD have also committed to the current price if you had only paid a deposit?

But the good thing is you will be getting the next Explorer that the AD gets, which even if the AD you are using is one of the small independent ADs means you will likely get it within a couple of months. :thumbup: Much quicker than had you been after something like a Submariner, GMT-Master, etc.etc. (I.e. muck quicker than any Professional model except the Explorer II or Milgauss).

Still in practical terms the question of a price increase in your likely waiting period is probably a non event, as Rolex have increased their prices in the UK far less regularly than other major brands over the past 5-6 years.

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Re: If you want to buy a Rolex

Post by Lavaine »

ut the good thing is you will be getting the next Explorer that the AD gets, which even if the AD you are using is one of the small independent ADs means you will likely get it within a couple of months.
Unless of course there are other buyers who have paid in advance. This just seems like such a bad idea. A dealer that wants payment in advance for a watch that they can literally sell within hours of receiving it sounds like a dealer that is in financial trouble. Hopefully I'm wrong about that.
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Re: If you want to buy a Rolex

Post by what-time-is-it »

I believe Rolex AD's have a 35% margin.
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Re: If you want to buy a Rolex

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what-time-is-it wrote: Fri Feb 01, 2019 9:38 pm I believe Rolex AD's have a 35% margin.
I have no clue if that is right or wrong, but I would guess it is in the ballpark.

Whilst it sounds like a healthy margin, the investment requirements (in terms of showroom and inventory) strike me as eye-watering - which perhaps explains the gradual demise of smaller independent AD's...
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Re: If you want to buy a Rolex

Post by what-time-is-it »

Totally agree, makes you think though when you are paying 10k for a Deep Sea, knowing thats £3500 profit. I do accept however that steel models are in short supply, dealers need to hold a considerable inventory and a shiny showroom isn't cheap.
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Re: If you want to buy a Rolex

Post by downer »

^^ I can't recall the numbers but I remember being gobsmacked when my local AD told me how much the showroom 'refresh' was going to cost. It must be frustrating for the dealers - invest a bunch of cash in a showroom and inventory of all manner of DJ derivatives in the hope that you will actually be offered some steel sports models to sell....
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Re: If you want to buy a Rolex

Post by nbg »

^^^^^ Probably an easier life being a non Rolex AD selling stuff with a 50% margain on brands that people just walk off the street to buy an in stock model, most paying RRP. Even with an informed customer getting a decent discount they still end up with a similar margain to the Rolex AD without the hassle.

Providing of course that someone Is prepared to buy a watch, that even if bought with a decent discount they will still take a bath on when selling....

Just think of all the time a Rolex AD has to spend wasting their time, taking dozens of pointless phone calls a day, from people asking about all the hot models they have seen on instagram, or getting their panties in a twist about stickers being removed etc.. etc.. :lol:

I reckon the 35% margain is reasonable in the circumstances! :) Far less than on many other “luxury goods”.

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Re: If you want to buy a Rolex

Post by Amor Vincit Omnia »

downer wrote: Fri Feb 01, 2019 10:51 pm ^^ I can't recall the numbers but I remember being gobsmacked when my local AD told me how much the showroom 'refresh' was going to cost. It must be frustrating for the dealers - invest a bunch of cash in a showroom and inventory of all manner of DJ derivatives in the hope that you will actually be offered some steel sports models to sell....
Very interesting that the discussion has trended this way at the moment. I received this rather timely notification by email from the local AD yesterday.

https://www.winsorbishop.co.uk/blog/new ... or-bishop/

A few months back I was looking at the possibility of getting an order in for an Explorer. Not quite so sure any more. Between the Machiavellian manoeuverings of the Rolex company and the outrageous behaviour of the secondhand market, I am seriously wondering (from my own personal point of view, of course) whether they are worth it. :problem:
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Re: If you want to buy a Rolex

Post by De Sisti »

nbg wrote: Fri Feb 01, 2019 9:11 pm Out of interest would the AD have also committed to the current price if you had only paid a deposit?
In December 2018 the Authorised Dealer (AD) told me that in order for me to get the watch I wanted I'd have to put down
a £300 refundable deposit and then be put on a waiting list. Last month I asked them how many were on the list.

They said there were two, but both had come off it (citing the fact that they'd overspent during the xmas period and had no spare cash). They said they expected to receive some stainless steel (SS) models in January or Febuary.

They quoted me £5000 for the Explorer and said they didn't expect the price to rise in 2019. As I had a windfall (savings from my previous 18 months on shifts; an extra £550 per month) I decided to smuggly pay for it and for the new furniture that I had my eye on.

I make all purchases over £100 by credit card so that I will be covered by their guarantee in the event of any problems with
the company I'm buying from.
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Re: If you want to buy a Rolex

Post by Mikkei4 »

adg31 wrote: Fri Feb 01, 2019 6:25 pm
De Sisti wrote:
hughesyn wrote: Fri Feb 01, 2019 6:05 pm Paying before delivery carries the risk that the dealer goes bust, leaving you out of pocket.
There's no way I'd do that at Rolex prices.

Same goes for them keeping the warranty paperwork, I wouldn't accept that. If the dealer disappears, you are left with no warranty.

I've bought plenty of vehicles, and only transfer the money the same day I pick it up.
Chance of the dealer going bust that same day is pretty small.
The Authorised Dealer (AD) does not participate in that sort of thing. Paying by credit card avoids losing one's money.
My local AD does; £1000 non refundable deposit, no Warranty Card for 12 months, no stickers, no backing out irrespective of price rises, changes to design or calibre not even for changes in personal circumstances.
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I'd walk away as soon as they told me any of that. They're taking the 'mick" and no watch means enough to me to put up with that insulting behaviour.
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Re: If you want to buy a Rolex

Post by Mikkei4 »

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.
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Re: If you want to buy a Rolex

Post by Amor Vincit Omnia »

Mikkei4 wrote: Sat Feb 02, 2019 10:18 am I'd walk away as soon as they told me any of that. They're taking the 'mick" and no watch means enough to me to put up with that insulting behaviour.
Too right. That badly I don’t want anything.
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Re: If you want to buy a Rolex

Post by StrappedUp »

^^^ 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?"
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Re: If you want to buy a Rolex

Post by hughesyn »

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.
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Re: If you want to buy a Rolex

Post by De Sisti »

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).
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