10% Deposit refundable?

[Matthew Rogers]

Quick question that I can't find an answer to on the Red website, but thought Jim had said something about it earlier on here... Is the 10% deposit refundable if your number comes up and you decide you don't want the camera? Also, is it necessary to do a deposit on all the accessories at this time? (for me, the EVF, 2 RED drives, the Zoom, and the premium pack)

I ask this because I need to get a RED for my business, but both my partner and I want to make sure we have the kind of clients that need the RED cam by the time we buy it. If there's no risk, then we want to go ahead!

Thanks,

Matthew Rogers

[ChristopherKenworthy]

If you already have a reservation, you don't need to worry - they'll have accessories for you when your number comes up, so no need for a deposit; I could be wrong, but this is what I've gleaned. If you're reserving a Red One for the first time now, then it might be wise to reserve everything else you need. It's only a 10% deposit, after all.

If you have a pre-NAB reservation with a serial number, I believe you can get a refund at any time for any reason. If you take out a post-NAB reservation, that's not the case.

But you say you want 'no risk', and I'd say 'take a risk'. Those of us who reserved are glad of the risk we took. It was a minor risk, because of the refund. Now, it's a minor risk because the Red One is proven. It's your job to convince your clients.

(No disrespect macville, but I sometimes wonder if the competition are posting all sorts of worrying ideas and disinformation in reduser.net, to make it all seem a bit more panicked and desperate than it actually is.)

[Matthew Rogers]

If you already have a reservation, you don't need to worry - they'll have accessories for you when your number comes up, so no need for a deposit; I could be wrong, but this is what I've gleaned. If you're reserving a Red One for the first time now, then it might be wise to reserve everything else you need. It's only a 10% deposit, after all.

If you have a pre-NAB reservation with a serial number, I believe you can get a refund at any time for any reason. If you take out a post-NAB reservation, that's not the case.

But you say you want 'no risk', and I'd say 'take a risk'. Those of us who reserved are glad of the risk we took. It was a minor risk, because of the refund. Now, it's a minor risk because the Red One is proven. It's your job to convince your clients.


Thanks for the response. The worry about risk is not on my side, by my partner's side (he's fairly new to the video business and keeps dragging his feet.) For me, I am thinking that there's pretty much no risk involved considering everyone here either shoots 16mm film or Varicam. Why pay for film and why get only a 720P image with crappy cinema lens support when for the same prices, or even cheaper you can get 35MM quality! I believe that you are generally going to see the quality of video product go up just because of this camera. Clients will not settle for SD cameras even if the final product goes out to SD (same reason why film is still popular for national spots.)

So the question now is...am I going to make it in under the 2,000 reservation...;)

Thanks,

Matthew Rogers

[JustinGD]

I have a similar question for a slightly different situation. I want to make a reservation as soon as possible, but I will probably have to take out a loan by the time my RED is ready to ship. If the 10% deposit is refundable, I can place my order, and then I have at least 8 months to figure out how to pay for it. If it is not refundable, I should probably get approved for a loan or line of credit before I place my order. I wouldn't want to lose my deposit just because the Bank doesn't know just how COOL a RED ONE is and won't give me the money.

So does anyone know for sure how new orders are being dealt with?

-Justin

[Matthew Rogers]

I have a similar question for a slightly different situation. I want to make a reservation as soon as possible, but I will probably have to take out a loan by the time my RED is ready to ship. If the 10% deposit is refundable, I can place my order, and then I have at least 8 months to figure out how to pay for it. If it is not refundable, I should probably get approved for a loan or line of credit before I place my order. I wouldn't want to lose my deposit just because the Bank doesn't know just how COOL a RED ONE is and won't give me the money.

So does anyone know for sure how new orders are being dealt with?

-Justin

Actually, we are in the exact same situation. We will pay for the deposit, but will take out a loan to pay for the bulk of the camera. What we are planning on doing is paying the deposit, nearer when we will get the camera get a small business loan and pay for the camera with the loan, and then try to pay back the loan in about 6 months. Also, in there we are going to try and get a credit card that will have a $30,000 to $40,000 limit and cash back so we can charge the camera, get several $$$'s back and then pay off the credit card with the loan. Really, it's all about working the system.

For you Justin, if you are worried about being able to get a loan, I would go ahead and apply for one. For us, we are going to wait until late summer to start applying because our business credit will be better then, plus we can have more clients to show that we can support a loan of that size.

Matthew Rogers

[David Dennis]

I'm not sure what the planned production pace is, but with RED cameras being made essentially to order, I would think you could sell your spot if things don't work out. I'm sure someone would be happy to buy it from you since they would get their RED sooner than otherwise possible.

So I don't think there's a lot of risk here. You're certainly not going to lose your entire 10% if you can't afford the camera since even if the camera is readily available, I'm sure there are people here who would jump on a $500 discount.

Think of that as the maximum likely loss if you can't afford the camera and I think you'd be pretty safe. If production is slow you might even be able to make a profit on your slot. I notice that people are timing their productions based on getting a RED, even though Jim says that's a bad idea. If you find someone who can't get their camera on time, and you have it available sooner, you might hit the jackpot and make $500.

So as long as you wouldn't mind losing not more than $500, I would make the deposit.

Hope that helps.

D

[Keith Nealy]

Macville

According to the past post - Jim said the 10% would be refundable.

http://www.reduser.net/forum/showthread.php?t=1349


We are likely to require a 10% deposit (fully refundable) on all orders placed at NAB.

Jim

Aloha,

Keith

[Eirik Tyrihjel]

Macville

According to the past post - Jim said the 10% would be refundable.

http://www.reduser.net/forum/showthread.php?t=1349



Aloha,

Keith

I took his (Jim) word for it and went ahead and reserved the primes, I am 90% sure I will take delivery, but it`s nice to have the option.

Hopefully RED will post the conditions on their website soon, as I am sure this is vital info for potential buyers.

[tallsided]

Any confirmation from the Red group themselves? I know they're busy with NAB so I'm not in any rush to get a reply. However, it would be nice to have an official answer. I'm in the same boat as everyone else on this thread. I'd like to put down a 10% deposit while getting together the rest of the money, but only if it is potentially refundable when the time comes.

[Roberto B]

If you already have a reservation, you don't need to worry - they'll have accessories for you when your number comes up, so no need for a deposit; I could be wrong, but this is what I've gleaned.

is this accurate?..

[Ace]

Filmmakers gang, did you steal Finners avatar? heh

[Adrian T.]

Filmmakers gang, did you steal Finners avatar? heh

That makes three of us! :clown2:

[Jeff Kilgroe]

Filmmakers gang, did you steal Finners avatar? heh

Haven't seen Finner around here lately... He probably killed him and took the avatar. :clown2: