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"A little background. I have owned a few Rolex, Omega, Breitling and other watches over the years. I am familiar with the new and second hand markets."..
Then you should have known better than to browse the ads on Craigslist?
"In January of this year, I saw an ad on Craigslist for a Rolex Submariner 116610LN. The ad stated that it was a 2015 watch with no box & papers."
...Then why did you buy it? A newer watch should have everything with it. Including box, papers and an original receipt.
"After making contact with the seller I agreed on a price of $5,000..." It its too good to be true....
"The kid showed up with the watch "on belay of his dad". ...and you gave a kid your money? Seriously?
The whole transaction from beginning to end was a recipe for disaster. Buy new from an AD is my advice.
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