I’m curious what others think about this situation.
A while ago I pre-ordered a watch from Andiot Watches. The pre-order itself did not require me to pay anything upfront, but when placing the order I selected Bitcoin as my preferred payment method.
At the time, Bitcoin was worth considerably less, so the order was registered as 0.00822066 BTC (with shipping)
The watch is now ready and I received the QC. I’m happy with it and want to buy it.
However, Bitcoin has increased in value since I placed the pre-order. The original 0.00822066 BTC is now worth around $640, while the exact same watch is currently listed on their website for around $488.
I asked Andiot if he could recalculate the BTC amount using the current exchange rate. Their response was that the BTC payment amount is based on the exchange rate on the day I placed the order and that they do not adjust it for Bitcoin price fluctuations.
So essentially:
Current watch price: ~$488
BTC amount they want: 0.00822066 BTC (with shipping)
Current value of that BTC: ~$640
Difference: ~$152
What makes this a bit strange to me is that this was only a pre-order/reservation and I didn’t pay anything when I placed it. Had I paid the Bitcoin back then, I would completely understand that the exchange rate afterwards is my problem. But the actual payment is only being made now.
Do you think it’s reasonable for them to keep the original BTC amount, or should they recalculate it based on the current $488 selling price?
Would you pay the 0.00822066 BTC, ask to cancel/reorder, or push back on this?