Some wizardry needed to get this kick started!!

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EddieTheBeast
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Some wizardry needed to get this kick started!!

Post by EddieTheBeast » Thu Sep 26, 2019 5:42 pm

I thought the Merlin Sea Legend looked really good, great value and a certainty, especially after a good review from The Time Bum! But with less than two days left on the kickstarter campaign, backers are dropping out and super early bird deals are still available!! Did anyone back this one?

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Dean

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Re: Some wizardry needed to get this kick started!!

Post by Thegreyman » Thu Sep 26, 2019 7:46 pm

Food for thought Dean, a good looking watch. I particularly like the Golden Boy variation which I think is your first photo, a touch of BB58 perhaps about it.

I must admit I've never backed a kickstarter project, is there a financial risk to backing a project if it doesn't get fully backed, or is it more of a risk that it does get backed but your watch never gets made?
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Re: Some wizardry needed to get this kick started!!

Post by Bahnstormer_vRS » Thu Sep 26, 2019 8:38 pm

@Thegreyman - Understandable question Patrick, not only as a first kickstarter backer but also as the Merlin watches are an inaugural project and therefore there is no track record for them.

First up there is useful info in these Kickstarter FAQs

If I remember correctly, on the finance side, if the project fails to meet it funding targets all bets are off; project is cancelled and your credit card not charged. If the project goes ahead but is not delivered, you'll be out of pocket.

We've got a couple of recent kickstarter related topics going on the forum (hard to search and link them via Tapatalk) which can offer more information.

As to Merlin watches its an interesting project, aiming high with SW200 movements, but why not.

Its notable that a few super early bird slots are available, which might be worrying at this late stage, if were not from the fact that the next level early bird is reasonably well subscribed.

Ultimately, its a case of Caveat Emptor, due diligence and "Do your Research".

I've backed a couple of kickstarter projects, maybe a few (I forget), over time all of which turned out fine. There is, of course, no guarantee on the Merlin Sea Legend - although I do like the look of the Tsunami and for £267 plus VAT etc. what is there to lose?

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Re: Some wizardry needed to get this kick started!!

Post by 0uatiOW » Thu Sep 26, 2019 8:41 pm

Apologies - edited my post, ended up quoting myself, then found I’d posted twice. I’ve edited this again, to remove the text.
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Re: Some wizardry needed to get this kick started!!

Post by 0uatiOW » Thu Sep 26, 2019 8:42 pm

Thegreyman wrote:
Thu Sep 26, 2019 7:46 pm
is it more of a risk that it does get backed but your watch never gets made?
Exactly this. As a backer, you are not a consumer, so you are not backed by consumer protection legislation. Your credit card is only charged if the project is fully funded, and once that happens, then you have to wait for the product to be manufactured. You have bought a promise and you have to rely on the creator making good. Many do, many do not, and the are several reports of highly funded projects going completely pear-shaped (google them, you’ll find them). Kickstarter isn’t interested in whether the project delivers or not, and you, as a backer, have no recourse if the whole thing goes south, apart from the goodwill of the creator.

Now - on the plus side, KS is a shop window for a vast number of varied offerings, some good, some bad, mostly in the middle, but very definitely some innovative designs. I just backed the Axios Ironclad, but only because I am familiar with (and have met) one of the creators. My faith in the man himself, and his excellent reputation (experienced first hand with a Zelos Mako) convinced me. I’m careful with the projects I back - I need some element of personal recommendation, or experience with the brand. Without doubt I have missed out on some great deals, but I also know I have avoided some clangers.

So DYR as they say; read reviews of the products (many prototypes are sent out to reviewers & influencers) and the creator’s previous campaigns (especially the comments threads of their KS Campaign pages). You may find something you like, and with luck and a dose of caution, you’ll find some great deals. You won’t go far wrong if you buy the seller first, the product second.
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Re: Some wizardry needed to get this kick started!!

Post by nbg » Thu Sep 26, 2019 8:45 pm

I have never done Kickstarter, but just a thought......

If the project isn’t delivered, will you necessarily be out of pocket?

Couldn’t you just do a credit card chargeback or a S.75 claim?

(Edit: typed before seeing the above post. :( )

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Re: Some wizardry needed to get this kick started!!

Post by Bahnstormer_vRS » Thu Sep 26, 2019 8:50 pm

Postscript;- Merlin have a target of S$70,000 for the project with about 60% backed so far, and only 30 hours to go.

Not looking terribly promising.

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Re: Some wizardry needed to get this kick started!!

Post by EddieTheBeast » Thu Sep 26, 2019 9:03 pm

Bahnstormer_vRS wrote:
Thu Sep 26, 2019 8:38 pm

Its notable that a few super early bird slots are available, which might be worrying at this late stage, if were not from the fact that the next level early bird is reasonably well subscribed.
There have been more super early bird slots become available over the last few days because of people dropping out. I take it that maybe about a week a go that all super early bird slots were gone!

Like you said not looking good for getting enough backers!
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Re: Some wizardry needed to get this kick started!!

Post by EddieTheBeast » Thu Sep 26, 2019 9:04 pm

Thegreyman wrote:
Thu Sep 26, 2019 7:46 pm
Food for thought Dean, a good looking watch. I particularly like the Golden Boy variation which I think is your first photo, a touch of BB58 perhaps about it.

I must admit I've never backed a kickstarter project, is there a financial risk to backing a project if it doesn't get fully backed, or is it more of a risk that it does get backed but your watch never gets made?
I agree that they look good - and like you Patrick, I fancied the Golden Boy!
Dean

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Re: Some wizardry needed to get this kick started!!

Post by Thegreyman » Fri Sep 27, 2019 10:45 am

Thanks for all the info guys in relation to my lack of knowledge of kickstarter.

It does look like the Merlin project won't get the backing and quite a few people have withdrawn, seemingly frustrated with the lack of updates.

I now understand the risk a bit better - a project doesn't get backed, you get a refund. Project is backed - your money is essentially a gift/donation therefore you are in the hands of the people you have backed. If you don't ultimately get your watch, you have no recourse and no credit card s.75 chargeback or similar route to pursue. If the company goes insolvent, you are not classed as a creditor or even an equity investor.

Clearly doing due dilligence on the individuals seeking backing is vital before committing, unless you just view it as a punt.
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Re: Some wizardry needed to get this kick started!!

Post by StrapMeister » Fri Sep 27, 2019 10:38 pm

It won't be going ahead - just checked and...
Funding for this project was cancelled by the project creator on Sep 27 2019
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Re: Some wizardry needed to get this kick started!!

Post by EddieTheBeast » Sat Sep 28, 2019 8:04 am

StrapMeister wrote:
Fri Sep 27, 2019 10:38 pm
It won't be going ahead - just checked and...
Funding for this project was cancelled by the project creator on Sep 27 2019
They’re blaming the project not being successful on poor prototypes! It seemed like lack of information updates throughout the project was the main reason!

They’re also are going to try to relaunch once they have improved their prototypes. I think this is worth watching, as it seemed a good watch for the price and it may succeed next time!

Link to their cancellation statement
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Re: Some wizardry needed to get this kick started!!

Post by EddieTheBeast » Sat Sep 28, 2019 6:04 pm

Shame the Budding Watch Enthusiast left his review so late! The day before this kickstarter campaign was cancelled! But worth watching.
Dean

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