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Thread: Daytona profiteering dealer contracts

  1. #1

    Daytona profiteering dealer contracts

    Went into the rolex a.d. to check on my placing for a daytona - looking like it's going to be a long time unfortunately.Talking to the sales person about watches appearing on the second hand market at 50% markup she mentioned that having taken advice and being concerned about losing their rolex franchise they in future would be asking customers to sign a contract detailing that they cannot sell the watch for 3 years or they will "be dealt with".There was also mention of retaining the paperwork of the watch.Things are getting a bit silly.....

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  2. #2
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    Quote Originally Posted by amcneill View Post
    Went into the rolex a.d. to check on my placing for a daytona - looking like it's going to be a long time unfortunately.Talking to the sales person about watches appearing on the second hand market at 50% markup she mentioned that having taken advice and being concerned about losing their rolex franchise they in future would be asking customers to sign a contract detailing that they cannot sell the watch for 3 years or they will "be dealt with".There was also mention of retaining the paperwork of the watch.Things are getting a bit silly.....

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    "Dealt with"? Tony Soprano style

  3. #3
    Quote Originally Posted by JPCain86 View Post
    "Dealt with"? Tony Soprano style
    Like, taken care of...
    It's just a matter of time...

  4. #4
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    My AD said he has twice been offered bribes in exchange for jumping the queue. Some people take all this very seriously!

  5. #5
    Could be my imagination but they made a subtle hand movement...finger moving across the neck....!

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  6. #6
    Master
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    Hahahahahah who do they think they are.

  7. #7
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    Quote Originally Posted by Omegamanic View Post
    Like, taken care of...
    My wife says that.....in a good way....so maybe it is a good thing.

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  8. #8
    The person who says it as stupid and delusional as person quoting/repeating it.

  9. #9
    Grand Master Chris_in_the_UK's Avatar
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    Utter and usual dealer 'horse$hite'

    Walk away and find another one.
    When you look long into an abyss, the abyss looks long into you.........

  10. #10
    Grand Master
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    Utter madness its like having a meal in a restaurant then being asked to bring your shit back when it comes out, the AD has a watch and asks a price then its sold. Why do they make up shite for the sake of it and why do they not realise that the markup at grey dealers makes them the most attractive point of purchase out there. As a pre owned watch dealer we are actually generating sales for them.
    RIAC

  11. #11
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    Totally impossible to stop someone selling a watch for 3 years. There are loads of genuine reasons why you might need to sell.

    An AD can't stop someone profiteering, however they could take precautions/vetting if there was a chance of them losing their AD. Assuming that most people who have a 116500 have a history with their AD, it wouldn't be that diffucult to find out whether they still own previous hard to get pieces that they've sold them. I know my AD is fully aware of the profiteers and I'd Imagine they don't get the watches in the main.

  12. #12
    Maybe Rolex need to go like some other brands for their less available watches - in the way that previous owners are invited to buy new models first, then if they are found to sell off shortly afterwards for a profit they are blacklisted from future invitations - of course this is only really possible with smaller volumes or incredibly efficient systems.
    It's just a matter of time...

  13. #13
    Master -Ally-'s Avatar
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    Increase supply, problem solved. I'll have a white one and I don't care if I can't sell it for profit.

  14. #14
    I don't see why the AD's are the ones that get the stick when these measures are announced. Presumably they are only doing it because the threat of Rolex removing their status is real. If anything it's Rolex themselves that are to blame for theatening the AD's over something that really is beyond their control and has come about purely as a result of the decisions Rolex have made to restrict supply of certain models.

  15. #15
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    Quote Originally Posted by Omegamanic View Post
    Like, taken care of...
    God sake and we are supposed to be the customers....Spending £10k these days means u dun get stickers, have to receive paperwork later, sign a stupid contract and get "taken care of" if we breach it. All for spending £10k on a watch....Just WTF. Seriously. WTF.


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  16. #16

    Daytona profiteering dealer contracts

    Had the stickers taken off mine and the papers withheld.

    I like to wear a watch with the stickers until they drop off, and it does feel like I have bought a watch without papers at times.

    However, I would rather that be the case than not have the watch at all.

    Unless something unforeseen happens I will never sell my DaytonaC.

    I also hear that the Italian dealers may be suppliers of many grey market dealers. Apparent these Italian dealers have some useful security and contacts which stop Rolex removing the franchise.

    Just what I heard, not saying it is true.

  17. #17
    Total madness!! It's your watch and everything that comes with it

  18. #18
    Grand Master TaketheCannoli's Avatar
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    Quote Originally Posted by Robbyman View Post
    Had the stickers taken off mine and the papers withheld
    I'd have kicked up the biggest stink there and then with their management and walked away if they demanded that was the deal. Who do they think they are?

    If they withhold papers then you're not buying the complete offering and therefore I'm withholding some of the payment. Absolute bullshit. I would have been embarrassed to have accepted that deal. They're treating you like a mug.

    Every story I hear like this makes the brand less and less attractive to me. I wouldn't feel comfortable wearing it knowing I'd been bent over to get it.

  19. #19
    A friend bought a pp nautlius from rudells and they are holding the certificate for 6 months so it's not uncommon with some ads

  20. #20
    Grand Master TaketheCannoli's Avatar
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    Quote Originally Posted by taz11 View Post
    Total madness!! It's your watch and everything that comes with it
    Maybe I should have just said this.

    i didn't mean to offend, I just hate this elitist attitude they have, making people beg.

  21. #21
    Master -Ally-'s Avatar
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    I see both sides to this tbh but I certainly wouldn't let the stickers being removed stop me buying.

  22. #22
    Grand Master Wallasey Runner's Avatar
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    As usual on here and not unexpectedly there are strong opinions on buyers rights, but has anyone actually called the ADs bluff and said if you remove those stickers and I walk - I suspect not.

    It's in the ADs interest to remove the stickers so they can let other punters try your watch on before you turn up - and that has happened and been mentioned on here.

  23. #23
    Amusing to see the same reactions again and again
    I hope some people don't burst a blood vessel over a watch they are not looking to buy anyway:-)

  24. #24
    Quote Originally Posted by taz11 View Post
    A friend bought a pp nautlius from rudells and they are holding the certificate for 6 months so it's not uncommon with some ads
    But the boutique don't do this ;)
    It's just a matter of time...

  25. #25
    Quote Originally Posted by Danstone View Post
    I don't see why the AD's are the ones that get the stick when these measures are announced. Presumably they are only doing it because the threat of Rolex removing their status is real. If anything it's Rolex themselves that are to blame for theatening the AD's over something that really is beyond their control and has come about purely as a result of the decisions Rolex have made to restrict supply of certain models.
    The reason they get a bad rep, or get it in the neck, is because quite a few of them are knowingly supplying the trade, which is most likely a breach of their contract with most of the bigger brands- by supplying the trade they are also responsible for less availability of harder to get models! They, or at least some of them, deserve the stick! That said, I like AD's and have enjoyed very good relationships with a few over the years.
    It's just a matter of time...

  26. #26
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    Best call this guy...


  27. #27
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    Quote Originally Posted by TaketheCannoli View Post
    I'd have kicked up the biggest stink there and then with their management and walked away if they demanded that was the deal. Who do they think they are?

    If they withhold papers then you're not buying the complete offering and therefore I'm withholding some of the payment. Absolute bullshit. I would have been embarrassed to have accepted that deal. They're treating you like a mug.

    Every story I hear like this makes the brand less and less attractive to me. I wouldn't feel comfortable wearing it knowing I'd been bent over to get it.
    Yes it's total BS but there are thousands of other people waiting to buy it so the AD will just be like "sure walk away"! They don't care!


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  28. #28
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    Quote Originally Posted by Omegamanic View Post
    But the boutique don't do this ;)
    Sure but some pieces are easier from ADs. Boutique supplied me a 5711 but an AD i have a good relationship supplied me another 5711, 5990, 5167 etc which the boutique told me all were 4 years.


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  29. #29
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    Daytona profiteering dealer contracts

    Quote Originally Posted by -Ally- View Post
    I see both sides to this tbh but I certainly wouldn't let the stickers being removed stop me buying.
    Mallorys removed my sticker from a rolex i bought recently.

    I hate that i can't just kick up a fuss and walk away or just say fine i'll buy it elsewhere.. With the UK SS rolex situation we just simply have no choice but to buy what becomes available if we want that watch.

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  30. #30
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    I picked up a deep blue yesterday, all stickers left on, the only thing they removed was the price tag. They even gave me the delivery coffin.

  31. #31
    Grand Master magirus's Avatar
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    I never had this palaver when I bought my Datejust in 1984.
    F.T.F.A.

  32. #32
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    Quote Originally Posted by amcneill View Post
    Talking to the sales person about watches appearing on the second hand market at 50% markup she mentioned that having taken advice and being concerned about losing their rolex franchise they in future would be asking customers to sign a contract detailing that they cannot sell the watch for 3 years or they will "be dealt with".

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    So, how are Dealers going to monitor this?

    Are buyers under an obligation to take their watch into the dealer every 6 or 12 months to verify that they are still in possession of the watch or will the dealer be visiting our homes to make the checks?

    Total and utter horseshit.

  33. #33

    Quote Originally Posted by klunk View Post
    So, how are Dealers going to monitor this?

    Are buyers under an obligation to take their watch into the dealer every 6 or 12 months to verify that they are still in possession of the watch or will the dealer be visiting our homes to make the checks?

    Total and utter horseshit.

    Well said

  34. #34
    Grand Master JasonM's Avatar
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    Just keep feeding this info back to Rolex, as Rolex have said, it's not Rolex policy, it's the individual ADs that are doing this.
    Cheers..
    Jase

  35. #35
    Master Tony-GB's Avatar
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    Quote Originally Posted by JPCain86 View Post
    "Dealt with"? Tony Soprano style
    Bring out the gimp.

  36. #36
    Master blackal's Avatar
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    Quote Originally Posted by RAJEN View Post
    Amusing to see the same reactions again and again
    I hope some people don't burst a blood vessel over a watch they are not looking to buy anyway:-)
    Astute observation, I think

    Al

  37. #37
    Master
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    It's a much repeated story on here (and other forums) but as it stands today you have 3 choices:

    1. You buy your 9k watch (Daytona c) and the AD may remove stickers, they might not, but if they insist that's all about it.
    2. You kick up stink and refuse to be told what to do and go direct to A grey dealer and pay 15k for that very same watch you were offered in 1. Good news is you've stuck it to the AD - that will teach them!
    3. You don't buy, but more good news - you've neither paid over the odds or let your AD dictate to you.

    Simple choices really - I don't agree with the way things are but if I wanted a watch and I needed to compromise a little it really wouldn't bother me.

    What I think escapes us is that 95% of buyers aren't on these forums and have no idea about the etiquette/correctness of buying a watch and probably think the AD is being kind and helpful in removing the stickers.

  38. #38
    Grand Master JasonM's Avatar
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    I think this thread has moved beyond 'sticker gate' its now about the 3 year 'contract of potential doom' post sale.

  39. #39
    Master
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    If anyone sees this fabled contract, would be good to post a copy. Interested to see what terms they will put on it, and who the contract is with

  40. #40
    Does anyone know if this happens when buying any other products? Only thing I can think of is supercars where some demand a higher price secondhand due to scarcity and demand but my knowledge is lacking.
    Another thought - I like to resize the bracelets myself but would I be allowed to with a daytona? Or would this set off alarm bells with the salesperson.

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  41. #41
    Grand Master JasonM's Avatar
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    Of course you would be able to do it yourself, its your watch!

  42. #42
    Quote Originally Posted by JasonM View Post
    Of course you would be able to do it yourself, its your watch!
    Hello Jason,of course you are 100% correct in the real world but with the daytona there is this alternative universe where dealers are insisting you engrave the watch(idea is you personalise watch and make it more difficult to sell),stickers must be removed,withholding paperwork and now signing a 3 year contract preventing sale within that period.I really want one of these watches and I doubt if anything will change with the above measures put into place,it's just so frustrating to possibly have to deal with this just to purchase a timepiece.

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  43. #43
    Increase the supply of Daytona's from the manufacturer, bring the waiting time to about 6 months. Problem solved.

  44. #44
    Master IAmATeaf's Avatar
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    Daytona profiteering dealer contracts

    Not commented on threads like this before but surely it's a Rolex supply issue which only Rolex can fix? The ADs are then implementing supposed steps which they say are coming from Rolex.

    So surely the logical thing to do is to keep yourself on the list and demand an explanation from Rolex themselves naming the AD and the rules and keep pushing Rolex until you get get a yey or ney answer, this is what I would do.

  45. #45
    Quote Originally Posted by IAmATeaf View Post
    Not commented on threads like this before but surely it's a Rolex supply issue which only Rolex can fix? The ADs are then implementing supposed steps which they say are coming from Rolex.

    So surely the logical thing to do is to keep yourself on the list and demand an explanation from Rolex themselves naming the AD and the rules and keep pushing Rolex until you get get a yey or ney answer, this is what I would do.
    That makes sense,however have you ever dealt with rolex? The experience I had with them at St james in London was frustrating and I hear from A.D's they basically dictate to them how to go about things.

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  46. #46
    Grand Master JasonM's Avatar
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    Quote Originally Posted by IAmATeaf View Post
    Not commented on threads like this before but surely it's a Rolex supply issue which only Rolex can fix? The ADs are then implementing supposed steps which they say are coming from Rolex.

    So surely the logical thing to do is to keep yourself on the list and demand an explanation from Rolex themselves naming the AD and the rules and keep pushing Rolex until you get get a yey or ney answer, this is what I would do.

    In another thread, Rolex were asked directly about sticker gate etc and they said its a AD policy, not theirs.

    I think the ADs in question are just pissed off that the people who sell them immediately after leaving the shop may make more money than they do from the sale. Theres no other reason I can think of them to go to all this trouble.

  47. #47
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    AD's do lose Rolex if they dont tow the line, I believe it's a part of a long term plan for Rolex to open there own boutiques at the moment they are like tescos or maccy dee's one in every town.

  48. #48
    Master Joe.K's Avatar
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    Picked up a Hulk at my local WOS and they removed the stickers (in front of me) as it's now strict policy to do so and i quote they would rather 'lose the sale' than go against it, it's not their policy -yet- to hold onto any paperwork or contractually forbid you from reselling at a profit and the manager admitted with the amount of foreign sales they do such practices were unlikely to ever a be adopted.
    On the plus side I did get the stickers and the coffin so i guess if i really wanted to I could have reapplied them when i got back from the shop 🙎
    I would post a pic of my new green friend but I've sold it......
    ... Only joking , my photo bucket a/c is quite literally up the pictures ATM and just won't play ball.
    Cheers
    Joe

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  49. #49
    Master
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    Quote Originally Posted by mtagrant View Post
    If anyone sees this fabled contract, would be good to post a copy. Interested to see what terms they will put on it, and who the contract is with
    And how they would enforce it when the customer is not from the UK.

  50. #50
    Grand Master Neil.C's Avatar
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    I popped into a Rolex AD this morning and look what they did to my car!


    Cheers,
    Neil.

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