How would you like to buy a Rolex — brand new, with papers and box — for MSRP?
Prices for used timepieces have skyrocketed, and it would be fitting that the Daytona or Batman you’re eyeing all the panache for a reasonable amount of cash. Watch Report (link omitted for purpose) has every Rollie for sale for pre-order at MSRP.
Sound pretty good? Maybe, a little too good?
Your reaction to a deal like this should be: Watches that were impossible to find new — Rolex, Patek Philippe, Audemars Piguet — have doubled and tripled in price in the past 3 years, and are now suddenly available at list price?
If that doesn’t get your Spideysense tingling, I don’t know what will.
Whenever you come across a deal that sounds too good to be true, fire up the Google machine and see where it takes you. In this case, “View report reviewLed a Rolex forum on the very topic. I plow through the entries, looking for confirmation of my instincts — that they are a trusted dealer and that people have had success with them. I found but one, but many more allegations of IP theft and shady practices. (Similar complaints here and here).
The clincher was this post:
UPDATE: They are now offering a “Pre-order any Rolex at MSRP” program.
Note: Delivery within 180 days
Amex chargeback cutoff is 120 days
I wonder if there is a connection there
I find it hard to believe that the drama is obvious, so I call the number listed on their Facebook account: (800) 571-7765. The salesperson tells me 1) your Amex, Visa or MasterCard is charged in full when the order is placed (plus a 10% premium); 2) All watches (limit 2!) are shipped after 180 days; 3) Cancellations within the first 90 days incur a 10% (notional) restocking charge.
In other words, using a credit card offers the same level of protection as a wire — namely, none.
Why negotiate a shady watch deal?
I’ve spent much of my career studying the decision-making process around money — from investing to planning — and there are many ways we get it wrong. Learning about behavioral finance/psychology has been a key aspect of my career. How people behave around financial decisions matters; What cognitive issues are affecting their thought processes helps me advise clients better; Finally, how economic behavior affects markets and economics affects us all.
FOMO and TINA are really “fear and greed” in other guises. From a psychological perspective, what could be more instructive than watching people’s greed buttons be pushed by the prospect of getting a status symbol at a bargain price? The MSRP that can be considered a bargain reveals how much the price has risen and the condition of these watches.
For consumers and investors alike, TANSTAAFL is the rule: anything that looks too good to be true probably is.
MZ Global Holdings, Inc.
2029 Century Park E
Los Angeles, CA 90067
Phone: (310) 882-7838
MZ Global Holdings, which also operates under the name View the report, located in Los Angeles, California. This company primarily operates in the watch business/industry within the miscellaneous retail sector. This company has been working for about 4 years. Mz Global Holdings is estimated to generate $188,035 in annual revenue, and employs approximately 3 people at this single location.
This organization is not BBB accredited