No.
I had one PAM 105 which wasn't water resistant out of the box, the dealer replaced it, and the replacement was water resistant. The first 111h I ordered(different dealer), the power reserve only lasted a few hours. The dealer exchanged it for an Omega Aqua Terra which I customized as a birthday present for my dad. Oh, and I ordered a Rolex DJ for my wife which had a link fall out the bracelet (different dealer again, but again, the replacement was fine)
Other than those incidents, I've always received satisfactory goods
[Edit to add]
I forgot about the Omega X-33s I received from Silix which weren't really satisfactory, and they also sent me the wrong vintage Sub, but that's the only really negative experiences I've had with stuff.