Stolen Rolexs

[bonbonson]

Originally Posted by gpfps

Larry if you stop and take your head out of you know what, I'm just saying there is a lot of procedure that needs to be proven for rolex to keep your watch and not give it back. What's your back ground ? I'm retired public safety officer who put in 25 years in on the road. I've taken larceny reports in hundreds so I DO KNOW ! What great legal back ground gives you the right just to call me wrong. I think moderator has gone to your head !

Retired 25 years of a public safety officer? Wow, our system really is fucked up to have somone like you that long.

[MonBK]

Originally Posted by gpfps

Larry if you stop and take your head out of you know what, I'm just saying there is a lot of procedure that needs to be proven for rolex to keep your watch and not give it back. What's your back ground ? I'm retired public safety officer who put in 25 years in on the road. I've taken larceny reports in hundreds so I DO KNOW ! What great legal back ground gives you the right just to call me wrong. I think moderator has gone to your head !

Probably the same right you have to call me ignorant.

[Gaijin]

Everybody please calm down. Rolex will take your watch and keep it if they find that is was reported stolen. As for small mom and pop watch repair places, who knows.

[Tools]

Originally Posted by gpfps

Larry if you stop and take your head out of you know what, I'm just saying there is a lot of procedure that needs to be proven for rolex to keep your watch and not give it back. What's your back ground ? I'm retired public safety officer who put in 25 years in on the road. I've taken larceny reports in hundreds so I DO KNOW ! What great legal back ground gives you the right just to call me wrong. I think moderator has gone to your head !

I'm surprised that you don't know that you cannot keep stolen property.. Aside from common sense, it's a basic tenet of law. Rolex has the right and the duty to ascertain proper ownership if they know that they have received stolen property.

As to your attitude, you're lucky that today I'm in a good mood. As to my background, you likely don't have a need-to-know.

[Sublover2166]

Originally Posted by LA_LEC

You buy a stolen Rolex without knowing it is stolen and it's still stolen...the rightful owner still gets it back. However...

I would not count on getting it back however. Yes, watches need to be serviced but most stolen watches are worked on by non-Rolex authorized dealers and there about 1 billion watch repair shops to do it who do not check serial numbers.

You ain't never gonna see a stolen Rolex again (well, probably getting stuck by lightning is more likely to happen before your watch finds it's way back to you anyway).

^^^^This. How many folks really get their stolen watch or any jewelry for that matter back? I'd bet not many. And here in the DC area, all the smash and grab robberies lately that have netted thieves millions of dollars worth of new all gold Rolexes stolen right from AD display cases. As far as I have heard, NONE yes NONE of the stolen new all gold Rolexes have been recovered!!!!

[Welshwatchman]

Originally Posted by gpfps

Larry if you stop and take your head out of you know what, I'm just saying there is a lot of procedure that needs to be proven for rolex to keep your watch and not give it back.

What's your back ground ? I'm retired public safety officer who put in 25 years in on the road. I've taken larceny reports in hundreds so I DO KNOW !

What great legal back ground gives you the right just to call me wrong. I think moderator has gone to your head !

I've read all your posts in this thread and can only conclude that English is not your first language.

Your point may be therefore lost in the structure of your composition, one which I have difficulty digesting.

In any case, it's never a good idea to verbally attack a mod, especially when English is his first language and he's able to convey a point with a certain clarity unavailable to you.

[MonBK]

Originally Posted by Welshwatchman

I've read all your posts in this thread and can only conclude that English is not your first language.

Your point may be therefore lost in the structure of your composition, one which I have difficulty digesting.

In any case, it's never a good idea to verbally attack a mod, especially when English is his first language and he's able to convey a point with a certain clarity unavailable to you.

Out of all days of the year he (Larry) had to be in a good mood today.

[Welshwatchman]

Originally Posted by MonBK

Out of all days of the year he (Larry) had to be in a good mood today.

Stick around. The gps guy is one snarky comment from a headlob and Larry's scythe is as sharp as the rest.

[MonBK]

Originally Posted by Welshwatchman

Stick around. The gps guy is one snarky comment from a headlob and Larry's scythe is as sharp as the rest.

Yeah, I'll stick around for Peter, he doesn't have any soft spots.

[Silverfever]

Originally Posted by MonBK

Yeah, I'll stick around for Peter, he doesn't have any soft spots.

:r ofl:

[enginerd]

Originally Posted by Welshwatchman

I've read all your posts in this thread and can only conclude that English is not your first language.

Your point may be therefore lost in the structure of your composition, one which I have difficulty digesting.

In any case, it's never a good idea to verbally attack a mod, especially when English is his first language and he's able to convey a point with a certain clarity unavailable to you.

I applaud you for using your correctly. You're only one of few that did in this thread. It doesn't really seem to matter whether English is the first language; grammar is lacking regardless.

Originally Posted by Tools

As to your attitude, your lucky that today I'm in a good mood. As to my background, you likely don't have a need-to-know.

[powerfunk]

Do you guys know what happens if Rolex cannot reach the party who reported it stolen?

[Mystro]

Now for guys like many of us that have our watches insured, say our Rolex gets stolen and our insurance pays us the insured amount. 4 years goes by and my stolen watch shows up at RSC. What happens??? I already was paid for my watch and purchased a new one.

[MonBK]

Originally Posted by Mystro

Now for guys like many of us that have our watches insured, say our Rolex gets stolen and our insurance pays us the insured amount. 4 years goes by and my stolen watch shows up at RSC. What happens??? I already was paid for my watch and purchased a new one.

Then YOUR insurance Co. is the rightful owner.

[Cc1966]

Originally Posted by Mystro

Now for guys like many of us that have our watches insured, say our Rolex gets stolen and our insurance pays us the insured amount. 4 years goes by and my stolen watch shows up at RSC. What happens??? I already was paid for my watch and purchased a new one.

I believe the insurance provider is the owner of the watch at that point.

[Mystro]

Thats great cause there is no way I want to give the money back..... I insure all my watches at msrp.


I hope every one here has their watches insured. Its cheap and takes all pressure off wearing them if they get damaged, lost, stolen,etc.....

Originally Posted by Cc1966

I believe the insurance provider is the owner of the watch at that point.

[Silverfever]

You will probably not be able to afford the premium increase once you make an insurance claim.

[Knappo 1307]

Does anyone know what came first, the chicken or the egg??

[Cc1966]

Originally Posted by Silverfever

You will probably not be able to afford the premium increase once you make an insurance claim.

...and how in fact do you know what I can afford mate?

[Silverfever]

Originally Posted by Cc1966

...and how in fact do you know what I can afford mate?

That is a figure of speech and not to be taken literally. It means that after your first claim, premiums will skyrocket so high that it will no longer be worthwile to insure your watches.

[CrownMe]

Originally Posted by gpfps

Larry if you stop and take your head out of you know what, I'm just saying there is a lot of procedure that needs to be proven for rolex to keep your watch and not give it back. What's your back ground ? I'm retired public safety officer who put in 25 years in on the road. I've taken larceny reports in hundreds so I DO KNOW ! What great legal back ground gives you the right just to call me wrong. I think moderator has gone to your head !

I don't think you wanna take it much further....or you have a good chance of getting banned.

[AK797]

Originally Posted by DiamondJack

And this is the reason many people will only buy pre-owned watches (whether vintage or newer) with original papers and box etc.

Far less likely for a watch with "all the trimmings" to have been stolen in the past.

But also why you should always obtain a written receipt for your watch or at the very least retain hard copy e-mail correspondance of your transaction with the seller.

There have been reported cases of watches being sold for cash and immediately being reported stolen or lost for an insurance claim.....

The watch then turns up at RSC for a service some years later and is returned to either the original owner.... who still holds all the original receipts and paperwork or the insurance company who paid out on the claim......

Good luck in proving your ownership if you are an owner further down the line.....even with a receipt.

If a watch (or any item for that matter) was originally stolen, no one after that point has any legal entitlement to the item no matter how much they paid for it or what receipts they have....... Legal title always remains with the original owner who reported the watch stolen. It's exactly the same with cars and the reason why there is a huge market now in checking if a car is stolen through on-line databases. You may be able to make a claim against a shop or trader that sold you the watch in good faith (who may be insured for such events) but very difficult to claim against a third party individual.

In relation to Rolex watches, this is also why so many people do not use RSC to service an older watch or a more recent watch with a more "varied" history and will generally prefer to use independent watchmakers.

And also why original papers have a premium other than just collectability .......

Good point on the extra value of box and papers as well as with helping with authenticity.

[Tools]

Sometimes there are happy endings... even after 45 years...

http://news.yahoo.com/blogs/sideshow...232032044.html

[Cesium133]

Originally Posted by MonBK

Then YOUR insurance Co. is the rightful owner.

YOU'RE correct, Mon.

[ben67]

Originally Posted by enginerd

I applaud you for using your correctly. You're only one of few that did in this thread. It doesn't really seem to matter whether English is the first language; grammar is lacking regardless.

If you are going to start picking on the correct use of Homopones where will it all end ? ......

Next you will want correct use of Capitonyms and use of punctuation.

Ben

[G-Web]

Gentlemen,

I hope this will shed some some light on this thread.

A couple years ago I purchased a Rolex without papers from a reputable seller, and no I won't name names. A few days after sending the watch to Rolex for service, I received a letter via Fedex from Gibney, Anthony & Flaherty, Rolex's law firm in NYC. The letter informed me that the watch had been reported stolen many years ago, and...

"Because there are now two competing claims to this watch, one belonging to you and the other belonging to the party who reported the loss or theft, Rolex must retain possession of the watch until the question of ownership is resolved. Rolex is unable to unilaterally decide which party is the legal owner of the watch."

"We will help you coordinate discussions with the other claimant. However, if you do not wish to pursue this matter further, please let us know and we will send you a release of your claim."

That's the meat of it. Ownership is a legal matter that Rolex is in no position to decide; only a court has the power to decide ownership. A couple days after receiving the letter, I spoke with the lawyer handling the case. He said that they (the law firm) will act as a mediator and encourage the two claimants to reach an agreement over who rightfully owns the watch. If the two parties cannot come to an agreement, Rolex will sue BOTH claimants, thus forcing the court to decide ownership (again, only the court can decide that).

In my case, the other claimant was the insurance company who insured the watch at the time it was stolen. Given that the claim was over 20 years old, it turned out that the insurance company was unable to find the paperwork for the policy, and surrendered their claim. Once this happened, Rolex proceeded to service the watch and ship it back to me in normal 4-6 week time. They assured me that this issue would now be removed from the watch's records and that no further issue would arise the next time it was sent to Rolex for service.

Please understand that I'm sharing this story in the interest of adding clarity to this discussion, and in the interest of contributing to our collective knowledge of this brand we love. I will not get into which watch it was, and any interactions with the seller etc. I am simply reporting, from my experience, what happens when you send a stolen watch to Rolex for service.

I hope this helps.
Thanks for reading.

-Grant

[Tudor841]

Grant

Many thanks for sharing this. It is good information and tracks with what I've heard in the past.

[SUBversive]

I don't think I like this thread with all the speculation out there for would-be criminals. I understand the "theory" of the buyer in the ordinary course, but 99.999% of the time someone knows when they are trading in stolen or "hot" goods.

[heatscore]

Great info Grant. Thank you

[Chainring]

This has been a fun thread. I'm glad Larry has patience. I hope Peter doesn't read it.