Watchtrader & Co. - National crime agency post.

[shammad10]

I saw a worrying post today by the NCA in the UK.
Watchtrader & Co are a big grey dealer in the UK.
Wonder what could have happened- I know people have previously been a customer for Rolex and this has really worried them.





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[Wobbly]

Thanks, it will be interesting to hear the back story and maybe something from Watchtrader & Co on their YouTube channel.

[Kirk Lazarus]

Dang! I thought they were straight shooters out of the bunch.

[shammad10]

https://www.thenorthernecho.co.uk/ne...500-000-taxes/

Maybe it was unpaid taxes.
However seems that they've now taken people's consignment watches as payment. This could get very messy. £500k of unpaid taxes and a £360K fine.

[inadeje]

It sounds to me like the new buzzword in the grey industry as liquidity dries up. That buzzword is “consignment”. A hunch is that watches were consigned yet the consignee wasn’t paid, thus initiating a complaint. This would be (again only if I’m correct) fraud. Another hypothesis is a sting operation. Stolen watches tracked to that location under an ongoing surveillance sting. It wouldn’t take much to tag a watches under-case-back with today’s tracking technology. Remember that apple iTags are huge commercially available tracking devices but law enforcement have tiny devices unavailable to the general public.

[MrBlobby]

The National Crime Agency is a national law enforcement agency in the United Kingdom. It is the UK's lead agency against organised crime; human, weapon and drug trafficking; cybercrime; and economic crime that goes across regional and international borders; but it can be tasked to investigate any crime. Wikipedia

[drrd]

What’s ‘national_crime_agency’?

When I Google it I see ‘National Crime Agency (NCA)’ as the verified Twitter account.

That email address isn’t listed for enquires on the official NCA page.

OP, did you check out this post at all before reposting?

[shammad10]

Originally Posted by drrd

What’s ‘national_crime_agency’?

When I Google it I see ‘National Crime Agency (NCA)’ as the verified Twitter account.

That email address isn’t listed for enquires on the official NCA page.

OP, did you check out this post at all before reposting?

Yes it is on their official instagram account which is verified by a blue tick. Go and check it out.

[drrd]

Originally Posted by shammad10

Yes it is on their official instagram account which is verified by a blue tick. Go and check it out.

So there are at least two Twitter accounts with National Crime Agency in the name?

[shammad10]

Originally Posted by drrd

So there are at least two Twitter accounts with National Crime Agency in the name?

This has nothing to do with twitter. It's on their official Instagram as has been said multiple times.

[Goupax]

Originally Posted by drrd

What’s ‘national_crime_agency’?

When I Google it I see ‘National Crime Agency (NCA)’ as the verified Twitter account.

That email address isn’t listed for enquires on the official NCA page.

OP, did you check out this post at all before reposting?

this post is legit, their twitter account, which is linked to their website, posted the same picture as OP.

[MrBlobby]

It’s on Instagram. @national_crime_agency

Looks correct to me.

[MrBlobby]

Go on

https://www.nationalcrimeagency.gov.uk/

And click the Instagram link at the bottom of their website

[drrd]

The verified government account is National Crime Agency (NCA).

OP you reposted a tweet from national_crime_agency.

[shammad10]

Originally Posted by drrd

The verified government account is National Crime Agency (NCA).

OP you reposted a tweet from national_crime_agency.

No I didn't I posted an instagram screenshot. Multiple people have tried to explain this to you, if you can't get it then just leave the thread

[MrBlobby]

It was an Instagram post and you can get to it from the NCA’s website.

Drrd - you are the only one mentioning twitter.

[Etschell]

why did it take the NCA 2 months to release this to the public though?

[drrd]

Apologies, I don’t use either social media site.

That contact email address on the screen shot doesn’t show up on the NCA’s website.

Can someone post a link to the original Instagram post shown in the screenshot?

[MrBlobby]

You’re right. Here is the twitter link

https://twitter.com/NCA_UK/status/1606293952465977344

[MrBlobby]

To get to it from nca website

https://www.nationalcrimeagency.gov.uk/

Scroll to the bottom of the website and click the social media button in the bottom right hand corner under follow us.

[dannyp]

Sounds like one of two things:

1. Tax issue completely separate and one of their intermediaries sold them a large quantity of stolen watches (unbeknownst to them).

2. Consignment inventory was seized by tracking authorities, who then realized the assets didn’t belong to the dealer, but to individual sellers.

[Etschell]

Originally Posted by dannyp

Sounds like one of two things:

1. Tax issue completely separate and one of their intermediaries sold them a large quantity of stolen watches (unbeknownst to them).

2. Consignment inventory was seized by tracking authorities, who then realized the assets didn’t belong to the dealer, but to individual sellers.

money laundering.

[knighty88]

Originally Posted by Etschell

money laundering.

this… given the involvement of the NCA, I’d say it highly likely to be an anti-money laundering operation.

[dannyp]

Originally Posted by Etschell

money laundering.

Doesn't explain why people are essentially being alerted that their watches may have been seized from the seller and (presumably) they can start the process of reclaiming them.

[shammad10]

Either way, I guess it goes to show- no matter how 'trusted' these sellers are- you just never know.
Watchtrader & Co are one of the biggest UK greys who often supply footballers and celebs etc.

[rambo99]

Originally Posted by shammad10

Either way, I guess it goes to show- no matter how 'trusted' these sellers are- you just never know.
Watchtrader & Co are one of the biggest UK greys who often supply footballers and celebs etc.

Rolex CPO programme launches, end of grey market dealers.

[huncho]

Originally Posted by rambo99

Rolex CPO programme launches, end of grey market dealers.

i don't think so, i assume rolex CPO prices will be higher so greys should still have their place in the market

[-Ally-]

Wrong’uns

[djtheot]

Bloody hell, this is a bit of a wake up call for going grey. they say buy the seller, I honestly thought they were good guys.

[inadeje]

Originally Posted by djtheot

Bloody hell, this is a bit of a wake up call for going grey. they say buy the seller, I honestly thought they were good guys.

Like most things, they’re all good guys until they’re not. I sincerely hope that no watches from our fellow members on this forum have become entangled in this issue.