pre-owned purchase - stolen

[atik81]

Dear all,
My apologies if the topic has been shared already.

One of my concern is when purchasing a pre-owned (retailer but not AD) would be that I go to the servicing center and they tell me the watch is reported stolen.
In most of cases, the servicing center will keep it yet.
But what about I bought the watch and few weeks after, the owner called Patek and say his watch is stolen. What can we do ? Is there any guarantee and are we able to register being the new owner to prevent that to happened ?

I guess this scenario might not be common, this situation happened I am sure, the person went to Patek right after buying it from a dealer and the service center said that the watch was declared stolen...

Thank you for your advices
Cheers

[benlee]

You can register your pre-own Patek on Patek website. If it is not successful, I presume PP will notify you that the watch was stolen. To avoid buying stolen watches, always insist full set box and papers. Also document the transaction, such as getting the seller to sign an acknowledgement that he has sold you the watch.

[Russell996]

Originally Posted by atik81

Dear all,
My apologies if the topic has been shared already.

One of my concern is when purchasing a pre-owned (retailer but not AD) would be that I go to the servicing center and they tell me the watch is reported stolen.
In most of cases, the servicing center will keep it yet.
But what about I bought the watch and few weeks after, the owner called Patek and say his watch is stolen. What can we do ? Is there any guarantee and are we able to register being the new owner to prevent that to happened ?

I guess this scenario might not be common, this situation happened I am sure, the person went to Patek right after buying it from a dealer and the service center said that the watch was declared stolen...

Thank you for your advices
Cheers

As always buy the seller, any reputable dealer will stand behind the piece and reimburse you in the situation of you later finding out the watch had been stolen. As has been said, inorder to minimise your risk it is also wise to buy complete with box and papers. With regards to registering the piece in your name with Patek, this of course doesn't mean the watch hasn't been stolen and doesn't give you any rights over a stolen piece ahead of the rightful owner - not sure if Patek has a register of stolen pieces.

[atik81]

Thanks for your inputs, will be careful!

[V25V]

Forum code: buy the seller

[Tools]

Originally Posted by atik81

. . .
But what about I bought the watch and few weeks after, the owner called Patek and say his watch is stolen. What can we do ? Is there any guarantee and are we able to register being the new owner to prevent that to happened ?

. . .

You cannot just call up and say "my watch was stolen".

A proper police report and proof is required before any legitimate business can, or will, so anything for the reporter.

[Humble michael]

Call Stern’s in NYC and they will tell you how they will list it as stolen.They did one for me a few years ago. james in San Antonio Tx:-)

[atik81]

Originally Posted by Tools

You cannot just call up and say "my watch was stolen".

A proper police report and proof is required before any legitimate business can, or will, so anything for the reporter.

You are right, I am probably over thinking ...!

[pav333hp]

Sorry to be blunt, but this thread has a bit suspicious vibe to me... OP is new to TRF (join date MAR 2021), has just a few posts asking about "stolen" watch, and location in France where there is a known problem of high end watch thefts. Almost reads like OP either has a stolen watch, or wants to buy one they either know or suspect is stolen, and trying to see how to avoid possibly getting in trouble.

I could be 100% wrong and OP is genuinely concerned. If that's the case, then just buy the seller (meaning find a reputable dealer for pre-owned or new) or directly from Patek Authorized Dealer (for new) if you are genuinely concerned about stolen watch history. Simple as that.

[77T]

Originally Posted by atik81

1. One of my concern is when purchasing a pre-owned (retailer but not AD) would be that I go to the servicing center and they tell me the watch is reported stolen.


2. But what about I bought the watch and few weeks after, the owner called Patek and say his watch is stolen. What can we do ?

3. Is there any guarantee and are we able to register being the new owner to prevent that to happened ?



4. I guess this scenario might not be common, this situation happened I am sure, the person went to Patek right after buying it from a dealer and the service center said that the watch was declared stolen.

I separated your thoughts and questions to help my input match them.

1. Any dealer will have the seller (from whom the dealer bought watch) sign “bill-of-sale” paperwork that has the s/n on it.

2. Therefore, any fake theft report can be easily thwarted.

3. Yes you can register with Patek. You can also purchase an extract from the archives.

4. It is fairly rare in terms of probability, but if it happens to you then it is 100% awful.

You would only have one remedy should it happen: sue the dealer for your damages.


Sent from my iPhone using Tapatalk Pro

[77T]

Originally Posted by pav333hp

If that's the case, then just buy the seller (meaning find a reputable dealer for pre-owned or new) or directly from Patek Authorized Dealer (for new) if you are genuinely concerned about stolen watch history. Simple as that.

Yes - the safest route.

Also, all the PP dealers I know are selling pre-owned. They keep them in a separate display case for “estate watches”. Often PP, AP, Rolex, etc.



Sent from my iPhone using Tapatalk Pro

[atik81]

Originally Posted by pav333hp

Sorry to be blunt, but this thread has a bit suspicious vibe to me... OP is new to TRF (join date MAR 2021), has just a few posts asking about "stolen" watch, and location in France where there is a known problem of high end watch thefts. Almost reads like OP either has a stolen watch, or wants to buy one they either know or suspect is stolen, and trying to see how to avoid possibly getting in trouble.

I could be 100% wrong and OP is genuinely concerned. If that's the case, then just buy the seller (meaning find a reputable dealer for pre-owned or new) or directly from Patek Authorized Dealer (for new) if you are genuinely concerned about stolen watch history. Simple as that.

Actually genuinely concerned yet I may understand the suspicion here.
Difficult for me to suspect it is stolen at first and I will bring anyway the watch directly to Patek after buying it, so I am not "really" concerned about getting my money back right after if something wrong happened.

It is in the hypothetic and unlikely event that it is declared stolen some months or years after... I was thinking way ahead (maybe too much lol) as I am willing to hold the watch in long term... anyway thanks for sharing your thoughts.

[atik81]

Originally Posted by 77T

I separated your thoughts and questions to help my input match them.

1. Any dealer will have the seller (from whom the dealer bought watch) sign “bill-of-sale” paperwork that has the s/n on it.

2. Therefore, any fake theft report can be easily thwarted.

3. Yes you can register with Patek. You can also purchase an extract from the archives.

4. It is fairly rare in terms of probability, but if it happens to you then it is 100% awful.

You would only have one remedy should it happen: sue the dealer for your damages.


Sent from my iPhone using Tapatalk Pro

Thanks for the clarifications !