Yeah I have already spoke to wos head office and they have said to call them when I receive the email to confirm. I did get a call just before lock down but they couldn’t secure it then.
What would have to go to make room would be
Air king unused or both my gmt Tudor and super ocean heritage 42 green bezel
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good afternoon all...
anyone seen this..
https://www.youtube.com/watch?v=mN6Ih2ECBJA Paul Thorpe and David Khalil
Thanks
Ernie
Just my two-penneth but I can't say I'd be comfortable paying upfront for something that I have no idea when (if) it's coming. A small deposit maybe.
In addition, who really knows how financially sound any organisation is (shares in Northern Rock anybody?). There's every chance that the company could fold, taking your money with it and be sure you'd be well down the creditors list.
I know you could pay with your credit card but I don't know how long any protection on a purchase lasts.
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I had the opportunity of a new 114060 from an AD the other year but when I saw it the dial markers, bezel and rehaut were all misaligned.
For this reason I simply wouldn’t part with my money without actually seeing the product in the metal.
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If I could get watch in hand, I would now still pay RRP on the steel models that I wanted.
Paynow, pick up... whenever????? No thank you.
I shall wait to see what the actual email says in it in regards to payment etc. My worry is that it is a scam, not whether WoS is going to going to file for bankruptcy soon.
WOS most recently filed accounts don’t make for comforting reading. The last ‘going concern’ statement expires in a couple of weeks.
Apr 16, 2020
HK Rolex ADs Selling Direct to Secondhand Dealers!
https://www.youtube.com/watch?v=pnpdMSaFW5A
The overheads on their prime location stores must be crippling. Perhaps they are getting a rent and rates holiday, but perhaps they aren't. Even if I had the money it would not be a risk I would be willing to take, but we all manage risk differently. I will happily be proven wrong. Best of luck to those that risk your money. It still seems shoddy the way Rolex customers are treated though, but I suppose it is a take it or leave it choice. No-one has to play the game.
This whole pay upfront shenanigans has alarm bells ringing to me and can only see it ending in disaster. At best I imagine WoS will continue to play theor silly games, when they open they miraculousy won't have the watch available citing Rolex being closed as the reason and we all know what the worst will be. If I get the call I won't be parting with a penny upfront.
Pay 50% now and when we come out of this and open you can pay the other 50% and collect your watch.
Who says they will still be in business in 21,28,48 days time.
What claim will you have? Unsecured creditor, i.e. little or none. You might have a claim against your credit card company if you pay that way.
Extreme caution is the order of the day, I say.
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I don’t see this being a problem, you are paying upfront for a watch which is allocated to you from stock and you will get a receipt with the stock no and model along with the store ID you will be collecting from.
You are only offered a watch by the AD which they have secured to sell.
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I’m pretty sure that if you pay 50% on a credit card, you would be refunded if the company ceased trading. Happy to be corrected if wrong. There is no real risk in this situation
D
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Ive had 2 phone calls since Saturday about the GMT Root Beer if i want it and the same as others 50% deposit and rest on collection., to be honest I think they’re stunning watches but I’m just not sure whether to get it as it’s at the back of my mind wearing something like this and the attention it brings .
Money saving expert confirms that this is true. But would you want the headache of having to go through s75 reclaim?
More I read about Aurum more I feel they must be in real trouble and trying to grab cash from wherever they can.
Major retail locations with major rents. Cannot be easy to get through this situation.
I also hear they have furloughed most showroom staff except for 1 or 2 per branch who are probably the unfortunate ones making these calls.
Last edited by Boss13; 17th April 2020 at 23:39.
I think phat is a good all encompassing term for 6 digit Rolex. A bit chunky, and a bit bling. I do enjoy my 114060 for that reason though and I think everyone needs a phat watch of some kind.
If prices do realign I think the modern iteration would fall faster than the now often vintage 16710. Assuming equal condition, in the flesh most people would opt for the 16710 over a 126710. It fits better, it’s lighter, you can swap the bezels out with a cheese knife, it works with 3rd party straps...
On topic - If I got Calls now I would not take the risk, we don’t know how long all this is going to last and even safe jobs can and will disappear. It puts things into perspective I suppose. My view is protect the things that really matter, and there will be watches aplenty when the economy recovers anyway.
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My friend had a call for sub date from another smaller chain of ADs yesterday. He had to pay in full and he's waiting till they reopen to collect although surprisingly they did offer to send. He's over the moon. Knowing him I think this was a brave decision.
Last edited by Gerald Genta; 18th April 2020 at 07:59.
I would imagine there is a chance they may have stopped paying the rents. The government announced a few weeks ago that commercial tenants shouldn’t be evicted if they couldn’t pay the rents. I know someone that rents commercial properties to some huge companies (major coffee chain and major clothes shop) and both wrote to him saying they weren’t paying the rent for the foreseeable future. One of them went on to detail that they employ over 10,000, that there fixed costs were over 10 mill a month and that even furloughing all their staff and not paying rents, they would still be losing x million a month and could go bankrupt. This letter was sent to hundreds of landlords apparently.
As for the credit card scenario, yes you are covered which is why it’s best to pay that way. However, who knows how enforceable this will be in the current climate. Imagine the claims credit card companies could be dealing with from the travel industry alone right now and whether they would survive if things don’t start improving soon. We have 6 tickets booked for Sting in Vegas on 6th June - Caesar’s Palace emailed us to ‘postpone’ the show to a future date. By not cancelling and postponing they don’t have to offer a refund apparently, though there is zero chance all 6 of us would be able to go together in the future. My mate tried our credit card company and they didn’t want to know. Took over an hour to get through and then fobbed off. They must be dealing with tens of thousands of these cases.
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That’s my understanding, usually you pay deposit, they deliver in the following days or you call in to collect any problems you are covered.
Now, you pay no idea when watch will arrive, shops not open, no confirmed postage & is a third party involved.
IF company goes tits up you are in a long queue to get any recompense.
Every week that goes by the company’s position becomes weaker.
Companies one should be very wary of giving money to atm are those that are so desperate that they're reduced to selling promises by phone. They wouldn't be doing this if they didn't have to, and the fact that they have to is a big ?
If I get a call, which I very much doubt as I’m literally not even on the ladder I won’t be parting with my money unless they post it out to me.
Personally, I’m very wary of what they are doing. If they really wanted to sell the watch and given the extraordinary times I can’t see why they can’t change their policies to post.
Cynical view maybe but to me it looks very much like a revenue raising exercise to inject some much needed cash, if they come through the other end I wouldn’t be surprised if the watch is no longer available and monies refunded. If they don’t come through then they’ll have kept going for a few days more using the customers money.
Lastly, where have all these watches miraculously turned up from, again I can’t believe they had these in their safes, there are plenty of high profile, high spending people out there so having stocks of popular models just doesn’t ring with me.
The chap said it was a revenue raising plan. I am not willing to pay thr full amount without delivery
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Personally would love to get the call for a Pepsi, even given the risk, but I'm nowhere near the history of most clients.
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Really? Such arrogance!!! Well, it may shock Rolex AD’s to know that currently their customers don’t really give a single flying *uck about their precious ‘agreement’! I suggest in the current climate, Rolex AD’s (given their generally shabby past treatment of customers) will find their historical arrogance coming back to bite them royally and deservedly in the arse!
I had the call on Wednesday and I said I will think about it so on Friday about six o’clock I got a call back about the sea dweller and I declined the offer I just couldn’t justify paying 50% upfront and waiting for the shop to open not knowing when that would be so I said sorry.
I haven’t looked into it but would have thought that it may be better to pay for the item in full - this might then be treated as your property which is being held on trust and not form part of the bankruptcy estate. FAOD this does not constitute nor is it it intended to be advice
A buyer would come along well before a big chain jeweller goes bust. Lots of wishful thinking in here that big ADs are totally done / on the ropes / the tables have turned
It might just be business as usual when doors open again...
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I got my email confirmation and I have five days to pay for the watch. It asking for the full amount
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I have a feeling that there is going to be a lot of disappointment when this WOS money grab unravels. Do the watches the salesperson on the other end of the phone who has probably been told to get some sales or lose their job exist or as the Paul Thorpe Video highlights the now “Express waiting list” is what you will find you have bought into with your 50% deposit.
Are WOS going to roll out the excuses when you go to pick up your watch, just to find that someone before you was willing to buy some two tone datejusts as well as the James Cameron and your allocation no longer exists but let us keep your deposit and we can get you one in a year. Or the salesperson has sold the same watch over the phone to 200 different buyers etc. Is this deposit refundable if they do not supply the supposedly available watch immediately or does it become a credit note.
Maybe all the watches are in the safe but I have not had Tods phoning me this week asking if I wanted to secure some loafers, just appears to be a pretty out of the blue desperate action by WOS.
maybe ask for a photo in hand and a newspaper with the days date like a hostage proof of life photo?