16710 coke F253991 in RSC stolen database

[kwpang1]

FYI

16710 coke
serial F253991 is in RSC's stolen database (SAP system)

purchased the watch in June 2019 from a independent reseller in Singapore, only to have it denied service at RSC SG.

was fortunate that it was not reported stolen in SG, else RSC would have confiscated the watch.

the reseller i purchased from refunded me the money.

he in turn managed to get a refund from Derek Ma, of Classic Watch HK.

[blackout]

Sorry to hear that. Thanks for the head up.

[GLADIATOR]

Interesting
Thanks

[michael067]

wow

[Ballzzz]

So if you send it into the RSC and it was reported stolen in the same country as the RSC location they confiscate the watch?

[GLADIATOR]

Originally Posted by Ballzzz

So if you send it into the RSC and it was reported stolen in the same country as the RSC location they confiscate the watch?

No they dont confiscate it.
They get a lawyer from your home state to write and advise you that watch is on Rolex Stolen List, and they will hold watch who now owns it (Original Owner, Insurance Company or You)

[Ballzzz]

Originally Posted by GLADIATOR

No they dont confiscate it.
They get a lawyer from your home state to write and advise you that watch is on Rolex Stolen List, and they will hold watch who now owns it (Original Owner, Insurance Company or You)

Crazy, makes me think before sending in a second hand purchased watch.

[Andad]

Originally Posted by Ballzzz

Crazy, makes me think before sending in a second hand purchased watch.

Not crazy at all.

What would you think if it was your watch that had been stolen.

It would still belong to you or your insurance company.

[Andad]

Originally Posted by GLADIATOR

No they dont confiscate it.
They get a lawyer from your home state to write and advise you that watch is on Rolex Stolen List, and they will hold watch who now owns it (Original Owner, Insurance Company or You)

If they ‘hold’ the watch isn’t that a bit like ‘confiscating’?

[GLADIATOR]

Originally Posted by Andad

If they ‘hold’ the watch isn’t that a bit like ‘confiscating’?

Nope
ROLEX do not confiscate it - they pass to the law to decide.
Huge difference!

[GLADIATOR]

Originally Posted by Andad

Not crazy at all.

What would you think if it was your watch that had been stolen.

It would still belong to you or your insurance company.

[77T]

Originally Posted by Andad

Not crazy at all.



What would you think if it was your watch that had been stolen.



It would still belong to you or your insurance company.

So true...hopefully one day I’ll get the call for the 3 Rolexes taken in a burglary.




Sent from my iPhone using Tapatalk Pro

[v1triol]

Re this RSC's stolen database, does it cover;
- watches stolen directly from Rolex (shops)?
- stolen from customers?
- both?

[Onikage]

Wasn't there something about them dropping their lost and stolen register recently? Some youtube chap said so. Kind of worrying that some moped gang could send their inventory for servicing.

[Ballzzz]

Originally Posted by Andad

Not crazy at all.

What would you think if it was your watch that had been stolen.

It would still belong to you or your insurance company.

It’s all perspective right.

From the side of the victim 100% I think it’s noble and just.

From the side of the buyer who is the 10th person along the chain to buy it and treat it proper by sending it into the rsc for some tlc it can be a bit of a shocker. I understand you have to then backtrack to the seller and the long list of sellers, a bit tiresome. If you purchased it from a back alley leather coat salesman you got what was coming.

[bondtoys]

I guess that your opinion on this topic totally changes, when you‘ve once been the victim (which I hope will never happen to you or anyone else).

„Tiresome“ in this context sounds a bit out of place to me

If my watch has been stolen away, it remains my watch, no matter how or under what circumstances you have purchased it.

[Halothane]

Maybe it will find it’s way to the owner it was stolen from !


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[circles]

Originally Posted by bondtoys

If my watch has been stolen away, it remains my watch, no matter how or under what circumstances you have purchased it.

Uh, nope! If your watch was insured, was stolen, and the insurance company pays your claim you no longer own that watch. You transfer all rights and future ownership to the insurance company the minute you accept a check from them. If the watch is recovered the insured does not own the watch, nor does he/she have any rights to said watch. The watch is owned by the insurer.

Amazes me how many guys don't know this.

Secondly, Rolex can't "hold", "confiscate", take, whatever, ANY watch that is sent in to them for service. They are not the legal authority over any watch they sell to a consumer, period. It has nothing to do with trademark rights or any other nonsense.
Now if they notify the local law enforcement they have in their possession what they believe is a stolen watch the local authorities may, depending on the jurisdiction, have the right to temporarily hold the watch as evidence, but agan, Rolex can't, period.

[GLADIATOR]

Originally Posted by circles

Uh, nope! If your watch was insured, was stolen, and the insurance company pays your claim you no longer own that watch. You transfer all rights and future ownership to the insurance company the minute you accept a check from them. If the watch is recovered the insured does not own the watch, nor does he/she have any rights to said watch. The watch is owned by the insurer.

Amazes me how many guys don't know this.

Secondly, Rolex can't "hold", "confiscate", take, whatever, ANY watch that is sent in to them for service. They are not the legal authority over any watch they sell to a consumer, period. It has nothing to do with trademark rights or any other nonsense.
Now if they notify the local law enforcement they have in their possession what they believe is a stolen watch the local authorities may, depending on the jurisdiction, have the right to temporarily hold the watch as evidence, but agan, Rolex can't, period.

This is correct

[interestedwatcher]

Where does the watch go? I mean back to the seller, who then gives it back to the reseller, what do they do with it?

[wesdaniel]

Originally Posted by circles

Uh, nope! If your watch was insured, was stolen, and the insurance company pays your claim you no longer own that watch. You transfer all rights and future ownership to the insurance company the minute you accept a check from them. If the watch is recovered the insured does not own the watch, nor does he/she have any rights to said watch. The watch is owned by the insurer.

I had a Rolex stolen about seven years ago. Filed a police report reported it stolen to Rolex. I talked to my insurance company at that time and they said that, if it came back to them, they would offer it to me for the amount they paid out in insurance.

It was a 16234 from 2003 that they paid almost $7K for because my policy was an inflation-adjusted policy. So, as much sentimental meaning as that watch had to me, I can't see paying almost $7K for a 16234 which, I'm sure, has been through quite a lot.

So, in that case, I wonder what they'd do with it? I would think they would just looking to recoup something for it and would probably offer it to the "current owner" at market price? I don't really know, but it's interesting to ponder.

[VintageVagabound]

Originally Posted by wesdaniel

I had a Rolex stolen about seven years ago. Filed a police report reported it stolen to Rolex. I talked to my insurance company at that time and they said that, if it came back to them, they would offer it to me for the amount they paid out in insurance.

It was a 16234 from 2003 that they paid almost $7K for because my policy was an inflation-adjusted policy. So, as much sentimental meaning as that watch had to me, I can't see paying almost $7K for a 16234 which, I'm sure, has been through quite a lot.

So, in that case, I wonder what they'd do with it? I would think they would just looking to recoup something for it and would probably offer it to the "current owner" at market price? I don't really know, but it's interesting to ponder.

I don’t think they go out of their way to offer it back to the person in possession of it. All these items go to insurance auctions.

[GLADIATOR]

Originally Posted by interestedwatcher

Where does the watch go? I mean back to the seller, who then gives it back to the reseller, what do they do with it?

I believe ROLEX holds it till the lawyer determines 'legally' who owns it - but that is surely NOT ROLEX

The insurance company does not want it - so they either offer it back to original owner OR send it to auction

[circles]

Originally Posted by VintageVagabound

I don’t think they go out of their way to offer it back to the person in possession of it. All these items go to insurance auctions.

Correct.