New Rolex Dealer Contract

[Jumpingjackflash]

Good Morning,

I collected my new SD43 yesterday and my dealer got me to sign a contract and keep my warranty for 12 months.

I was delighted to sign the contract because I am finally happy to see Rolex attempting to stop flippers and traders getting watches that I want.

The contract states that I can get my warranty card and papers in 12 months. If I sell my Rolex within 3 years the dealer must get first refusal so that I can still buy Rolex sports watches in the future.

If only Porsche done the same.

The dealer In Laings Glasgow

[sc0tt]

What on earth?

If I buy a watch with my money I will do as I please with it.

[Jumpingjackflash]

That is fine Scot and I have no issue with that. If you buy a watch with your money and sell it within 3 years that is your prerogative. However you will not get another Rolex sports watch on a waiting list and customers like me will have batter chance to own and enjoy watches for many many years.

[phumy]

Jumpingjackflash said:

Good Morning,

I collected my new SD43 yesterday and my dealer got me to sign a contract and keep my warranty for 12 months.

I was delighted to sign the contract because I am finally happy to see Rolex attempting to stop flippers and traders getting watches that I want.

The contract states that I can get my warranty card and papers in 12 months. If I sell my Rolex within 3 years the dealer must get first refusal so that I can still buy Rolex sports watches in the future.

If only Porsche done the same.

The dealer In Laings Glasgow

So are you saying if you didn't sign the contract you couldn't buy another sports watch in the future?

And who is to say the AD is going to give you the best price...think cars and its always the same, the dealer price offered is always the lowest.

[coldsnap]

Outrageous, your watch you do as you please with it.

I'm quite sure this is not Rolex policy so it will not make the slightest difference to the present issues of Rolex UK stock, just a dealer trying it on.

[55palfers]

Did you pay cash or have it on the shops credit?

[R8Steve]

Strange, my friend bought a black no date sub out of there just the other week and none of this was mentioned.

[sc0tt]

Jumpingjackflash said:

However you will not get another Rolex sports watch on a waiting list and customers like me will have batter chance to own and enjoy watches for many many years.

I'm sure you would. You think Rolex will start turning down potential customers?

Lets see a picture of this contract then ...

[sandman77]

So if you to fall on hard times within the next 12 months you wouldn't be able to sell your watch to raise some cash?

[Mr Pointy]

This tone of this post is very troll-like, worded to provoke a response.

OP; post a scan of the contract including the name of the shop.

[DuraAce]

Jumpingjackflash said:

Good Morning,

I collected my new SD43 yesterday and my dealer got me to sign a contract and keep my warranty for 12 months.

I was delighted to sign the contract because I am finally happy to see Rolex attempting to stop flippers and traders getting watches that I want.

The contract states that I can get my warranty card and papers in 12 months. If I sell my Rolex within 3 years the dealer must get first refusal so that I can still buy Rolex sports watches in the future.

If only Porsche done the same.

The dealer In Laings Glasgow

So the rolex dealer can bid you in the balls and you can't do anything about it?
What if he only offers £500 but in my opinion its worth £5k? (and I have friend who'd like to pay that 5k?)
Ridiculous IMHO.

Be nice to see a copy of this "contract"....

[LaurasOtherHalf]

Hmmm, how do we tackle the issue of hard to get watches being sold on for profit? Make them harder to get-that'll sort it!

I smell bullst, what happens if the dealer goes bust? What happens if they lose your papers?


Let's see the contract then OP if it's true

[DJMC]

Jumpingjackflash said:

If I sell my Rolex within 3 years the dealer must get first refusal

"Ah, Mr Flash, how lovely to see you again. How can we help?"
"Well, I know I've only had the SD for 6 months but I'd like to change to a Deepsea please."
"That's no problem, I have one coming in next month. Now... we'll take your SD (first refusal clause) in at £3,300 and the new one will be £8,900. OK?"
"But I paid £8,350 six months ago! I think I'll sell it elsewhere if that's OK."
"Unfortunately NOT sir. You see, you signed this contract saying that we could have first refusal, and we're not refusing are we? Also, we have your guarantee card for another six months."
"So I'd have to wait a year to sell it elsewhere?"
"No sir. You must give us first refusal for three years. And we'll want to buy it during that time as we can always make a nice profit by offering you the lowest trade price possible. But don't worry, that means we will have every watch available especially for you during those three years and won't sell any of the same model to another, perhaps new, customer who just walks through the door. Shall I take your watch as a deposit on the new one sir?"

Edited by DJMC on Thursday 10th August 09:51

[LaurasOtherHalf]

How do they know that you've even sold it in the 3 year period? You gotta go round and do the dealer's windows each week wearing it?

What a crock

[DJMC]

LaurasOtherHalf said:

How do they know that you've even sold it in the 3 year period? You gotta go round and do the dealer's windows each week wearing it?

What a crock

Date: 2 years time.

Dear Mr Flash,

Your three year contract is two years old. Please visit the shop to show us you have still have the watch so we don't have to sue you for breach, and so we may keep you at the top of our "always have a watch available for this customer" VIP list.

Yours sincerely,

[don logan]

So we are meant to believe that you ask to see a watch

You try it on

You say, that's great, I'll take it

They then check some interpol database and refuse to sell it to you because you sold your last watch too soon?

Right, ok!

[Dempsey1971]

DuraAce said:

Jumpingjackflash said:

Good Morning,

I collected my new SD43 yesterday and my dealer got me to sign a contract and keep my warranty for 12 months.

I was delighted to sign the contract because I am finally happy to see Rolex attempting to stop flippers and traders getting watches that I want.

The contract states that I can get my warranty card and papers in 12 months. If I sell my Rolex within 3 years the dealer must get first refusal so that I can still buy Rolex sports watches in the future.

If only Porsche done the same.

The dealer In Laings Glasgow

So the rolex dealer can bid you in the balls and you can't do anything about it?
What if he only offers £500 but in my opinion its worth £5k? (and I have friend who'd like to pay that 5k?)
Ridiculous IMHO.

Be nice to see a copy of this "contract"....

Umm, have I misunderstood. First refusal means, if you want to sell it for 5k, you should offer it first to them at that price, rather than someone else. They can say no. It does not mean you HAVE to sell it to them for whatever they offer, just that they have 'first refusal' at the price you set.

I don't agree with these contract and paper withholding mind, just saying....

[DJMC]

When buying my wife's DJ last week the AD did say that they hold on to the warranty card for some professional/sport watches for 12 months to stop flipping. That may possibly be a Rolex edict.

No mention of any "contract", but then we weren't buying a professional/sport watch.

[Mr Pointy]

DJMC said:

When buying my wife's DJ last week the AD did say that they hold on to the warranty card for some professional/sport watches for 12 months to stop flipping. That may possibly be a Rolex edict.

No mention of any "contract", but then we weren't buying a professional/sport watch.

Retention of the warranty card has been reported before but not for 12 months & requiring signature on a written contract or the restriction about giving the AD first refusal if selling within 3 years.

[DJMC]

Mr Pointy said:

Retention of the warranty card has been reported before but not for 12 months & requiring signature on a written contract or the restriction about giving the AD first refusal if selling within 3 years.

That's what I said, yes.