Watches of Switzerland Regent St -- deposit

[samrolex94]

Hi,

I'm looking at purchasing my first Rolex Submariner (116618LN). It's my dream watch.

I popped in to Watches of Switzerland on Regent Street and the chap told me that they have no stock, but I could register my interest so I did. He also asked me to put down a 10% discount which I did.

Later, I discovered on another forum from May 2019 suggests that WoS do not take deposits.

The receipt shows the watch that I have requested and is fully itemised. The man told me that he could not provide a specific ETA, because Rolex may announce new models on 1st September. He told me I may have to wait 3-4 months and the pricing may increase and the deposit does not lock in that price. Apparently there is a watch in Glasgow and he has made a request to see if I could receive that item.

I also enquired about a stainless steel submariner date, which I understand is hard to come by. He has requested this for me and says that this would take some time.

Does this sound reasonable? If a deposit has been taken, am I likely to actually be on a list for this gold sub? I haven't purchased from WoS before.

Thank you

[Lantenac06]

That's interesting. I've registered my interest at the store in the last couple of months for certain Tudor and Rolex models and they have never asked me to leave a deposit. With that said, you seem to have dealt with someone who had a lot more confidence in being able to actually get you the watch: I have not previously been given a timeline before, and have yet to receive a call for any watch for which I have registered my interest. I have also never registered my interest for anything as expensive as that particular model (all the watches I have enquired about have been on steel bracelets rather than gold), so maybe that factors into it. I would expect the steel models are harder to come by whereas they might have more confidence in being able to get yours in soon.

One would certainly hope that the taking of a deposit indicates that. Best of luck and do post some photos when it arrives!

Hi,

I'm looking at purchasing my first Rolex Submariner (116618LN). It's my dream watch.

I popped in to Watches of Switzerland on Regent Street and the chap told me that they have no stock, but I could register my interest so I did. He also asked me to put down a 10% discount which I did.

Later, I discovered on another forum from May 2019 suggests that WoS do not take deposits.

The receipt shows the watch that I have requested and is fully itemised. The man told me that he could not provide a specific ETA, because Rolex may announce new models on 1st September. He told me I may have to wait 3-4 months and the pricing may increase and the deposit does not lock in that price. Apparently there is a watch in Glasgow and he has made a request to see if I could receive that item.

I also enquired about a stainless steel submariner date, which I understand is hard to come by. He has requested this for me and says that this would take some time.

Does this sound reasonable? If a deposit has been taken, am I likely to actually be on a list for this gold sub? I haven't purchased from WoS before.

Thank you

[samrolex94]

That's interesting. I've registered my interest at the store in the last couple of months for certain Tudor and Rolex models and they have never asked me to leave a deposit. With that said, you seem to have dealt with someone who had a lot more confidence in being able to actually get you the watch: I have not previously been given a timeline before, and have yet to receive a call for any watch for which I have registered my interest. I have also never registered my interest for anything as expensive as that particular model (all the watches I have enquired about have been on steel bracelets rather than gold), so maybe that factors into it. I would expect the steel models are harder to come by whereas they might have more confidence in being able to get yours in soon.

One would certainly hope that the taking of a deposit indicates that. Best of luck and do post some photos when it arrives!

Hi,

Yes -- I got the impression that the guy was quite confident that he could get it for me.
I did push a fair bit for an ETA. He asked if I would be willing to make a deposit and I said that would be acceptable but I would very much like some form of ETA. He then spent around 15-20 minutes on the phone.

I went to another Watches of Switzerland (Oxford St) to see if they had any stock but they didn't. The guy there was very helpful and after giving him my details he was able to pull up my requests on the system and confirm that Regent St had indeed registered my interest for the gold and SS subs. He advised me to stick with a single AD as that is the best way to build a relationship and get access to the harder to acquire pieces like the SS sub.

[Omegamanic]

Sounds like they will be fine, and hopefully they’ll get you your steel model to go with the gold too.

[Hooshabak]

That’s extremely unfortunate

[alanm_3]

Maybe ask him if you can buy both?

[Hooshabak]

Sounds to me like you’ve got more money than sense

[johnthemull]

Sounds to me like you’ve got more money than sense

Never takes long for a troll to show up these days


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[ajw232]

I don’t think they’re particularly hard to get so if they’ve taken a deposit I’m sure you’ll get one quickly. If you’d have popped to Mount St Pragnells have had one in stock the past few times I’ve been there.

[Hooshabak]

Never takes long for a troll to show up these days


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Peak irony

[samrolex94]

It's good that I didn't try and collect it on Friday or over the weekend.

I got a call saying that they'd just realised that the model was the older Submariner and not the new model.
This guy is good -- he'd already called up and arranged for the new model to be sent to the store. So I should get a call on shortly telling me when I can pick it up.

[gerrudd]

I visited teh same store about 3 weeks ago and registered my interested for an OP. No deposit was asked for.

[sickie]

Maybe the deposit is because it's Gold and they want to make certain you're serious about the watch. Being a new customer I mean.

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[samrolex94]

Maybe the deposit is because it's Gold and they want to make certain you're serious about the watch. Being a new customer I mean.

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I figure that makes sense.

As I said to the man, if you had it in store now, I'd be buying today on my card.

Apparently there could be new models in September, but Baselworld 2020 was cancelled so no idea.

[paskinner]

To secure the model I wanted,I had to put down a 50% deposit. Then wait a few months. My guess is that the OP will get what he wants quite quickly. Money talks , just asking to go on a ‘list;.....not so much. So, if asked for a deposit I’d take that as a sign of real progress.

[Mysqueek]

I have a feeling you wont be waiting too long for it. A deposit is a commitment to buy from both sides. Hope I'm right

[petay993]

I have a feeling you wont be waiting too long for it. A deposit is a commitment to buy from both sides. Hope I'm right

This

The only time my AD has taken a physical deposit from me for an allocation piece I have had it within the month - CHNR and Cameron 126660.

I wish they would take my deposit for a BLRO

[samrolex94]

I’m chuffed. Had to remove two links as I’ve small wrists.

[Murdoc]

Congratulations, nice watch.

[engrneil]

That is beautiful. Thanks for sharing

I’m chuffed. Had to remove two links as I’ve small wrists.

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[M1011]

I’m chuffed. Had to remove two links as I’ve small wrists.

That looks really nice!

Also the watch looks nice too

Enjoy it, stunning watch!

[MartynJC (UK)]

I’m chuffed. Had to remove two links as I’ve small wrists.

Just making the images bigger - I hope you don't mind - but they deserve bigger pics - that must feel amazing being solid gold including bracelet? :






What a fantastic looking submariner! Well done, you must be well happy!!

NB: I got my YM Rose Gold from Old Bond Street recently - I must say I echo the excellent customer service. Though I only got champagne with mine rather than whisky!

Martyn

[ach5]

Cheers Martyn, they’re very clear now

[samrolex94]

Just making the images bigger - I hope you don't mind - but they deserve bigger pics - that must feel amazing being solid gold including bracelet? :






What a fantastic looking submariner! Well done, you must be well happy!!

NB: I got my YM Rose Gold from Old Bond Street recently - I must say I echo the excellent customer service. Though I only got champagne with mine rather than whisky!

Martyn

Hi Martyn,

No problem problem enlarging those images. They should have been clickable to enlarge them anyway.

I didn't get anything from the AD and purchased that bottle myself.
The guy I dealt with wasn't there, as he had something to deal with.

Did you actually get a bottle, or a glass?
I did tell them I was driving in -- so I imagine if it's just a glass, they don't want to encourage drink driving.

They were also under a fair bit of stress.
A bloke walked in and wanted to register his interest for a steel daytona. The lady told him quite frankly he'd need a 'relationship', i.e purchase history and that the professional models are given as a thank you to clients.

He claimed that he'd bought loads of watches in the past and even had a watch shop (this rings like grey market flipper).
He then says maybe the watches were bought under his wife's email. Nope.

He then starts getting pretty angry and insists he has the watch in the poster behind the lady, latest model.
It's a two-tone bluesy sub... and she just says 'What -- this one that we launched a month ago?'

It was pretty funny.
He requests a GMT and some other models and the lady straight up states that for some models they need to go to director level with a bio of why you want the watch. That does seem a bit OTT to me, but he says that he wants them because they are desirable...

My guess is that he wanted to buy a 2nd hand Rolex expecting a discount, saw that the grey market commands a premium for some models and thought he could get in on the action.

There was also a guy that walked in and said that he had a single scratch on his watch after 6 months of ownership. It was a steel model.
They told him they can polish it out but it needs servicing. He asked if it would weigh less. Maybe that's a genuine concern. He wants the same chunkiness to it, but a little bit of steel shaved off is not going to reduce the value and these watches are meant to be scratched.

I've already got some scratches on my watch (light) and I don't mind. It's meant to be used. My concern yesterday about the deep scratch was that I'd like to be the one that scratches the watch and expect it in good condition from factory. Fortunately, just a deceiving sticker..

P.S. adding a teaspoon of water to the JW Blue has really made the difference. I think it's the best scotch I've had in my life.

[MartynJC (UK)]

Hi Martyn,

No problem problem enlarging those images. They should have been clickable to enlarge them anyway.
..

P.S. adding a teaspoon of water to the JW Blue has really made the difference. I think it's the best scotch I've had in my life.

Hey Simon - Thanks for the back story. I can recommend joining in with the vGTG - zoom meeting - that happens every other Thursday for TZ. There has been much discussion of the amount of water to add to a whisky - the consensus is a 'drop' at the moment!

Also, I was contacted by WoS Bond Street a couple weeks ago by email with no reply - but got an apologetic reply this week. They'd had to close for 2 weeks because of a Covid outbreak in the store - could have been that tw&t you mentioned - I wonder if he was wearing a mask while giving his remonstration?

NB: I got a half bottle of champagne, which I took home carefully - still in the fridge actually.

Cheers Martyn

[Stonewood]

OP. There are a couple currently in the UK on eBay for £28k. Have you seen them?


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[samrolex94]

Many thanks for the replies so far. This will be my first Rolex and I am relatively green behind the ears with this market so I appreciate these responses.

I will keep you all posted. I’m glad I’ve found a UK based forum.

OP. There are a couple currently in the UK on eBay for £28k. Have you seen them?


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Of course. But I am not sure eBay is a good outlet. I’m also aware of gray resellers but I am also not keen on the matter. I am willing to wait a little. I am however coming to the realisation that I may not be able to obtain a stainless steel sub via an AD.

RoS also appeal to me because of the potential 10 year warranty. Not clear on what this covers, but ho hum.

Cheers guys

[M1011]

The deposit is a positive thing in my book. Commitment from both sides, and I suspect a real indication that you'll actually get one quite soon. I suspect part of this is the dealer will need to pay for that watch and wants to ensure a quick turnaround. This is a non-issue with steel models that sell immediately.

Sounds to me like you’ve got more money than sense

What an unnecessary statement..?

OP. There are a couple currently in the UK on eBay for £28k. Have you seen them?

Meh I'm with the OP on this one, same price near enough to buy brand new and he'll likely get it quickly.

[Stonewood]

What an unnecessary statement..?

+1


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[SimonK]

I don't know about more money than sense, but I certainly wouldn't provide an interest-free loan to a listed company with liquidity of over £80m in return for a vague promise. The deal should be 'we can get such and such a watch for delivery on the xth of next month but we will need a deposit to go ahead and process your order', anything else is taking the urine. What you have agreed to is like a rotten herring in the moonlight - looks nice and shiny but stinks to high heaven.

[Stonewood]

Many thanks for the replies so far. This will be my first Rolex and I am relatively green behind the ears with this market so I appreciate these responses.

I will keep you all posted. I’m glad I’ve found a UK based forum.



Of course. But I am not sure eBay is a good outlet. I’m also aware of gray resellers but I am also not keen on the matter. I am willing to wait a little. I am however coming to the realisation that I may not be able to obtain a stainless steel sub via an AD.

RoS also appeal to me because of the potential 10 year warranty. Not clear on what this covers, but ho hum.

Cheers guys

That’s fair enough. I hear what you are saying. The 10 year warranty is a definite plus point. Once you have bought that gold submariner from them then I’m sure you would get a stainless steel sub quicker than most. Let us know how it goes. Good luck. Cheers


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[David_D]

Don't think I have heard of WoS asking for deposits and it's not often mentioned on here for any other ADs. On the one hand, there might be some benefit in sorting out the "serious" buyers, but there's presumably a whole lot of admin maintaining and accounting for deposits. To do it every now and again seems like the worst of all worlds for the retailer.

[paskinner]

With the deposit he will almost certainly get the watch; without the deposit, he won’t. He can sit on his high-horse, insist on no deposit, and whistle into thin air. But how does that help? The store holds the cards.

[samrolex94]

So chaps, I’ve seen the new lineup and contacted the guy at WOS. I’ve offered to pay any extra deposit (I note it’s £1k dearer) and asked to register my interest in the new model.

Will keep you posted.
Still haven’t heard about the stock that was in Glasgow, but I did send him an email the day after registering my deposit and he acknowledged my requests and said he hoped to give me good news soon.

Cheers.

[samrolex94]

I know what I drank and it was not Laphroaig. I wasn’t clear but what I meant is that Laphroaig is usually my choice.

I bought the JW Blue after reading that it had a good peaty taste, wanted to try something new and I’m not disappointed. I think it’s a new contender, but it needed that bit of water to bring out its charisma.

[samrolex94]

As an aside, could anyone recommend some insurance? This is my first time insuring such an expensive item. I have contacted Anthony Wakefield and they have quoted me £440. This seems a good price given my age (26) and that I intend to wear it. This covers me for accidental, loss, theft and 60 days international travel with no excess. They will also cover storage with an appropriate safe.

AssetSure wanted £1500/yr after I told them my age..

[M1011]

As an aside, could anyone recommend some insurance? This is my first time insuring such an expensive item. I have contacted Anthony Wakefield and they have quoted me £440. This seems a good price given my age (26) and that I intend to wear it. This covers me for accidental, loss, theft and 60 days international travel with no excess. They will also cover storage with an appropriate safe.

AssetSure wanted £1500/yr after I told them my age..

A gold Sub at 26! I'm a few years older than you and slightly envious of your budget! Why did you go for the gold variant out of interest?

As for insurance, personally I'd add an excess if it can cut down the premium. I pay exactly 1% of RRP for insurance on my Rolex through my home insurance, with a £250 excess, and the comp sounds the same as what you've described (minus the safe requirement).

[samrolex94]

A gold Sub at 26! I'm a few years older than you and slightly envious of your budget! Why did you go for the gold variant out of interest?

As for insurance, personally I'd add an excess if it can cut down the premium. I pay exactly 1% of RRP for insurance on my Rolex through my home insurance, with a £250 excess, and the comp sounds the same as what you've described (minus the safe requirement).

My business is growing well and I was told by my accountant that filing a SIPP and ISA every year is pragmatic, but boring and that I should enjoy myself. With excess cash in the business and concerns over how money presses seem to be on full blast in response to CV, I figure it might also be cheaper to treat myself sooner than later.

I’ve had my eye on the Submariner for years but only wanted to make a purchase when I was truly comfortable with the direction my life was going in.

Humorously, I actually always had my eyes on the blue variant. I passed on a black model at Heathrow in T5 in July (but tried it on). After seeing the blue model and realising that it’s slightly obscene in formal settings, I decided the black was a safer option. Had I known before, I could’ve had one on my arm already.

I am interested in the gold variant because the stainless steel one seems to be out of reach until I order at least one PM model, and even then I’m skeptical.. the two tones never took my fancy. I figure it’s a big outlay but I only anticipate buying one PM, and they supposedly last a lifetime if serviced properly. I won’t be diving with the thing, that’s for sure. White gold model also looked good to me, particularly because it’s more discrete and looks like an SS model. The white gold with a blue face looked great, but today’s new lineup of blue dial with a black face doesn’t look great for me. If I do one day get an SS sub, I’ll keep it for a gift for someone.

I will indeed enquire about the excess. With AssetSure I noticed that it did very little in reducing my policy, but 26 is the earliest age that they ensure from and as soon as I mentioned the Rolex I assume the guy on the line thought I was some kind of pimp or dealer..

I’m just hoping I can get my hands on one without bending over backwards. I can appreciate a wait, but I don’t want a load of crap from the dealer that others have reported.

Cheers

[M1011]

My business is growing well and I was told by my accountant that filing a SIPP and ISA every year is pragmatic, but boring and that I should enjoy myself. With excess cash in the business and concerns over how money presses seem to be on full blast in response to CV, I figure it might also be cheaper to treat myself sooner than later.

I’ve had my eye on the Submariner for years but only wanted to make a purchase when I was truly comfortable with the direction my life was going in.

Humorously, I actually always had my eyes on the blue variant. I passed on a black model at Heathrow in T5 in July (but tried it on). After seeing the blue model and realising that it’s slightly obscene in formal settings, I decided the black was a safer option. Had I known before, I could’ve had one on my arm already.

I am interested in the gold variant because the stainless steel one seems to be out of reach until I order at least one PM model, and even then I’m skeptical.. the two tones never took my fancy. I figure it’s a big outlay but I only anticipate buying one PM, and they supposedly last a lifetime if serviced properly. I won’t be diving with the thing, that’s for sure. White gold model also looked good to me, particularly because it’s more discrete and looks like an SS model. The white gold with a blue face looked great, but today’s new lineup of blue dial with a black face doesn’t look great for me. If I do one day get an SS sub, I’ll keep it for a gift for someone.

I will indeed enquire about the excess. With AssetSure I noticed that it did very little in reducing my policy, but 26 is the earliest age that they ensure from and as soon as I mentioned the Rolex I assume the guy on the line thought I was some kind of pimp or dealer..

I’m just hoping I can get my hands on one without bending over backwards. I can appreciate a wait, but I don’t want a load of crap from the dealer that others have reported.

Cheers

Cool - good for you if you're financially in a position to do it.

However, your post does suggest that all things equal you'd prefer a steel Submariner, am I right? If so, why not just buy one grey? They're available in plentiful supply from grey dealers, just pick a trusted dealer (the forum can help) and you'll have a new Submariner on your wrist within a week that was sold in the Rolex AD likely days beforehand. Yes you'll pay a premium over RRP, but an awful lot less than the gold one you're planning the buy and the Subs tend to hold their premium over time anyway.

Just saying because it sounded like the steel was what you really wanted and you're viewing the gold as a necessary step. I may have got the wrong impression.

Is your deposit refundable?

Edit: Also take this with a pinch of salt and you probably know this better than I do, but don't forget that things like SIPP and ISA investments compound over time so getting money in early can pay much bigger dividends down the line. Also I have no idea what business you're in and perhaps you're booming, but just bear in mind it's a very odd time in history right now and it's worth having a decent buffer. Just my 2 cents, but I'm a cautious individual

[samrolex94]

Cool - good for you if you're financially in a position to do it.

However, your post does suggest that all things equal you'd prefer a steel Submariner, am I right? If so, why not just buy one grey? They're available in plentiful supply from grey dealers, just pick a trusted dealer (the forum can help) and you'll have a new Submariner on your wrist within a week that was sold in the Rolex AD likely days beforehand. Yes you'll pay a premium over RRP, but an awful lot less than the gold one you're planning the buy and the Subs tend to hold their premium over time anyway.

Just saying because it sounded like the steel was what you really wanted and you're viewing the gold as a necessary step. I may have got the wrong impression.

Is your deposit refundable?

Edit: Also take this with a pinch of salt and you probably know this better than I do, but don't forget that things like SIPP and ISA investments compound over time so getting money in early can pay much bigger dividends down the line. Also I have no idea what business you're in and perhaps you're booming, but just bear in mind it's a very odd time in history right now and it's worth having a decent buffer. Just my 2 cents, but I'm a cautious individual

Thanks for your reply.

Honestly, I’d love the gold, over the SS. I’m a bit concerned about safety, and that might be where I’d prefer to wear an SS, but in my mind, know I have a gold at home, hence getting a quote for storing in a safe.

I’ve looked at grey dealers and know that is indeed an option, which I think I will have to resort to if I expect to own one. But where possible, I absolutely want to own and wear (comfortably) a gold sub. The sheer weight of it alone feels fantastic on the wrist.

My deposit is indeed refundable. At least the receipt says it is.

I’ve been putting £40k in my SIPP since I turned 19. I need to stop doing that soon because I will hit the lifetime allowance with medium growth. ISA is maxed out every year and this purchase won’t impact my ability to keep doing so. I agree that we are indeed in unprecedented times and I hedge that accordingly. The last £30k ‘purchase’ I made was my student loan several years ago and since then I’ve been living well within my means. Nothing extravagant. I’d like to buy this watch as a treat. As you say, Subs seem to hold their value and PM subs seem to be the same. This could also be considered a hedge against inflation — just one that you can wear on your wrist. In no way do I expect this however nor would I be disappointed if it lost value. This is for me.

Cheers

[samrolex94]

Does this site support uploading images, or should I put it on an external image service? The receipt is slightly ambiguous for deposits, although straight up purchases seem to be clearly explained. The sales guy said that it was 100% refundable and safe.

With any luck, I’ll hear from him in the next couple of days to confirm that he’s put me on the list for the new models.

[M1011]

Thanks for your reply.

Honestly, I’d love the gold, over the SS. I’m a bit concerned about safety, and that might be where I’d prefer to wear an SS, but in my mind, know I have a gold at home, hence getting a quote for storing in a safe.

I’ve looked at grey dealers and know that is indeed an option, which I think I will have to resort to if I expect to own one. But where possible, I absolutely want to own and wear (comfortably) a gold sub. The sheer weight of it alone feels fantastic on the wrist.

My deposit is indeed refundable. At least the receipt says it is.

I’ve been putting £40k in my SIPP since I turned 19. I need to stop doing that soon because I will hit the lifetime allowance with medium growth. ISA is maxed out every year and this purchase won’t impact my ability to keep doing so. I agree that we are indeed in unprecedented times and I hedge that accordingly. The last £30k ‘purchase’ I made was my student loan several years ago and since then I’ve been living well within my means. Nothing extravagant. I’d like to buy this watch as a treat. As you say, Subs seem to hold their value and PM subs seem to be the same. This could also be considered a hedge against inflation — just one that you can wear on your wrist. In no way do I expect this however nor would I be disappointed if it lost value. This is for me.

Cheers

A very thorough reply, sounds like you know exactly what you're doing which is great

Does this site support uploading images, or should I put it on an external image service? The receipt is slightly ambiguous for deposits, although straight up purchases seem to be clearly explained. The sales guy said that it was 100% refundable and safe.

With any luck, I’ll hear from him in the next couple of days to confirm that he’s put me on the list for the new models.

I think you'll have nothing to worry about if that's what you were told, although sounds like you'll not be wanting a refund anyway. I definitely would not post a picture of your receipt personally.

For general use though, yes you have to use a third party image host. I use Imgur as it's free and simple to use.

[samrolex94]

AD acknowledge my request saying they hope it will start to arrive soon.

I wasn’t asked to increase my deposit

[Lantenac06]

That's great news! As I said, I have been 'on the list' for several watches at WoS without a deposit and never gotten any calls or further feedback. Happy to hear it sounds like yours will shortly work out; we'll look forward to seeing some photos of your new watch!

AD acknowledge my request saying they hope it will start to arrive soon.

I wasn’t asked to increase my deposit

[Stonewood]

AD acknowledge my request saying they hope it will start to arrive soon.

I wasn’t asked to increase my deposit

Any news Sam? Will it be the new shape 126618 now do you think?


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[samrolex94]

Any news Sam? Will it be the new shape 126618 now do you think?


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Nothing yet. I contacted them on 1st Sept after the new lineup and the guy replied pretty quickly to say he'd put me down for the new model and that hopefully they will start arriving 'soon'.

[Stonewood]

Nothing yet. I contacted them on 1st Sept after the new lineup and the guy replied pretty quickly to say he'd put me down for the new model and that hopefully they will start arriving 'soon'.

Ah nice. I would imagine ‘soon’ would actually mean SOON as can’t imagine there are many people wanting one of those like there are the Stainless steel subs! Fingers crossed for you.


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[thestore]

Nothing yet. I contacted them on 1st Sept after the new lineup and the guy replied pretty quickly to say he'd put me down for the new model and that hopefully they will start arriving 'soon'.

Sounds to me like you will get one soon. WoS aren't in the business of taking deposits for the sake of it.

Out of interest what line of business are you in? Glad to hear it is going well!

[samrolex94]

I have just received the call. It's ready.

[samrolex94]

I wanted to get my Dad an SS sub as a gift and mentioned this to the AD at the time.
I've just got the call saying that it's ready for collection using their click and drop service.

That's good service!