Selling/Buying of a stolen Rolex

[Omega_Precision]

I have always been curious with the practice of buying and selling a Rolex, especially the buying part. There are a lot of reputable dealers and grey market dealers out there but how many of these dealers know the history of the particular watch they are selling:

Reputable dealer X (non-AD) sells a watch to customer Y.....that was confiscated by Rolex service center because it came up on the stolen registry.

When a watch is confiscated, do you get papers from Rolex, explaining it was stolen?

If so, what kind of actions can be dealt with the dealer?

Eventually I see consumers wanting RSC service papers with their purchase and all papers, supporting every transfer of a watch from every source, to satisfy the buyer.

[Deyn Man]

not a guru but have experienced 2nd hand Rolexes. In my case, it was my brother's so it was easier -- changed the registry from his name to mine. So when I had mine serviced at the local RSC, it came out ok.

unfamiliar with the "official" SOP though and might have to wait for the other gurus to comment.

[Nick1959]

Is somebody keeping a registry? If they it means we can check it out before buying or after buying.

[Bullyterrier]

I was thinking the same thing after reading the other thread Omega_Precision, Unless you get new from an AD then there is no way of telling 100% for sure.
I can remember a story in a local paper a few years ago in the UK of an AD that had found out one of their watches was fake. It was quite a while before they found out, that someone had tried one on and switched the real for a copy.

[karmatp]

I have a couple of friends who have had the Rolex's stolen. I feel for the guy who pays a few grand only to have it taken away when it gets a servicing. I can tell you this, the thief's did not steal the box and papers. This is the main reason I wont buy a second hand watch without some kind of paperwork, especially a modern day Rolex.

[Blue Lantern]

I have often wondered the same thing. I wish serial numbers could somehow be checked on the stolen-watch registry prior to purchase.

[Submarino]

Originally Posted by Blue Lantern

I have often wondered the same thing. I wish serial numbers could somehow be checked on the stolen-watch registry prior to purchase.

Actually you can call RSC and provide them the serial number to check whether the watch has been reported as stolen or not. They have helped me in the past both at the RSC in NY and the one in Mexico.

Something we can do is start our own TRF registry. Just and idea!!!!

[Blue Lantern]

Originally Posted by Submarino

Actually you can call RSC and provide them the serial number to check whether the watch has been reported as stolen or not.

Wow, I had no idea. That's amazing.

[SLS]

Originally Posted by Submarino

Actually you can call RSC and provide them the serial number to check whether the watch has been reported as stolen or not. They have helped me in the past both at the RSC in NY and the one in Mexico.

Something we can do is start our own TRF registry. Just and idea!!!!

This must have been some time ago, as Rolex USA does not currently do this. I know that the RSC's in the UK do, not sure about Mexico though.
Scott

[cody p]

Originally Posted by Bullyterrier

I can remember a story in a local paper a few years ago in the UK of an AD that had found out one of their watches was fake. It was quite a while before they found out, that someone had tried one on and switched the real for a copy.

i've often wondered about that - seems like an easy enough scam to pull a switcheroo.

[mike]

Well, .... it's certainly the nightmare of all of us who at one time or another purchased a watch second hand.

I do think it's important to understand it could be a Rolex, Omega, PP, or any of a number high quality watches.

Whether vintage or modern it is something we must never take for granted. "Buy the seller" is never more true and in the case in question that is exactly what was done.
The seller in this case will make things right if indeed there is anything out of line (which we don't know).

In this hobby reputations are hard won and easily lost. In the case of this deal the word of the seller is gold.

As far as papers go,....they certainly add to the watch, but papers can and have been faked as well.

One of the reasons many ADs allow only one watch at a time out of the case is to protect as best they can from a switch--it has happened more than once.

Let's see what develops.

[Bullyterrier]

The only problem by having an on line registry, with serial numbers is that you will be providing the scammers with serial numbers for them, their copies would then be even harder to detect.

[bobl]

In a perfect world, I would make the "Registry" a subscription service for authorized businesses (whatever that might mean) AND the dealers could provide proof that this watch has been scanned and compared against the "stolen registry" and they guarantee that it is authentic and not stolen. A good guarantee like that and I would be willing to pay a few extra bucks for.

[Omega_Precision]

I don't think reputable dealers are purposely selling stolen watches, it could be that they didn't know the watch was stolen.

They could have sourced the watch and a watch can go through several dealers with none, knowing the history of the watch.

[Bullyterrier]

Originally Posted by Omega_Precision

I don't think reputable dealers are purposely selling stolen watches, it could be that they didn't know the watch was stolen.

They could have sourced the watch and a watch can go through several dealers with none, knowing the history of the watch.

Well that is without saying... But the fact is it can and probably does happen.
Perhaps a good idea would be for Rolex to encourage and authorize second hand sales, a bit like car companies now. Where for example you can go to a dealer and buy an authorized second hand Ford. You would know for sure that it is legit because it would of been through their servicing dpt.