Horology House - Rolex Scam

[Britishshooting]

This has been big on TRF the past few days.

A reputable character with a decent following on YouTube etc. Was busted for selling someone a fake Rolex for $20k, the fake Rolex was sent after circa 3 months of excuses which included the bush fires, the volcano incident and other imaginative excuses. You couldn’t make it up!

Turns out he’s done this to a few people and it’s all coming out. Strange thing is however he has been repaying people but over 3-6 months in some scenarios.

A lot of high amounts from $20-30k to as high as one guy who was out of pocket by as much as $100k.

A couple of theories as he’s not actively running away with the money:

He’s got serious money issues and taking money from person A to repay person B and it’s just spiralling..

Gambling addiction

he’s pretty much gone into hiding now with all his social media locked down and his name forever tarnished!

Worth a read even if your not into your watches!

https://www.rolexforums.com/showthread.php?t=722353

 

[CliveW]

That's why I always buy my Rolexes from approved dealers.

 

[Doon frae Troon]

I can't get my head round folk who pay thousands for a wee machine that tells you the time.
Same as folk who pay hundreds of thousands for a car that you cannot legally drive at more than 70 mph.
Perhaps it is an investment like classic cars,
I seem to remember that ended badly.

 

[Wolf]

I can't get my head round folk who pay thousands for a wee machine that tells you the time.
Same as folk who pay hundreds of thousands for a car that you cannot legally drive at more than 70 mph.
Perhaps it is an investment like classic cars,
I seem to remember that ended badly.

Just had to get the defib machine... I've found something I agree with you on DFT.. I equally don't understand how someone pays so much for something that merely tells the time no better than an 8 quid Casio from Argos.

 

[Robin Hood]

Just had to get the defib machine... I've found something I agree with you on DFT.. I equally don't understand how someone pays so much for something that merely tells the time no better than an 8 quid Casio from Argos.

Hmmm
Over a period of say 1000 years the Rolex may be slightly more accurate by several milliseconds.
Well worth the investment......


In the Casio ?

 

[Wolf]

Hmmm
Over a period of say 1000 years the Rolex may be slightly more accurate by several milliseconds.
Well worth the investment......


In the Casio ?

Defunct argument considering I won't be alive for a 1000 years to reap that benefit. So the 8 quid Casio that still gets me to work on time is a better investment for me....

 

[BrianM]

Just had to get the defib machine... I've found something I agree with you on DFT.. I equally don't understand how someone pays so much for something that merely tells the time no better than an 8 quid Casio from Argos.

It’s all about what you like, I’ve collected watches since 2008, got my first Rolex for 3.5k, now worth about 8k, decent return ?
Nowt wrong with Casio’s, got a few G-shocks as well.

 

[Hacker Khan]

Just a quick point on buying something that is more about image and status than buying something that will perform a task adequately for a lot less money, how many golfers buy Pro V1s when in reality a ball half the price would do the same job at our skill levels? How many of us buy expensive drivers when our swing is the overriding factor in determining where the ball goes so we could use a driver that costs at least half the price and would get the same results? Some people really like watches or cars and have enough disposable income so want to buy a really expensive one as they feel it says something about them. Same with a lot of golfers when it comes to golf equipment.

 

[Wolf]

It’s all about what you like, I’ve collected watches since 2008, got my first Rolex for 3.5k, now worth about 8k, decent return ?
Nowt wrong with Casio’s, got a few G-shocks as well.

Absolutely fair play to you, my FiL is a watch collector as well has quite big collect of Rolex, Breitling also got a fairly costly Patek Phillipe.. Totally agree its about what you like, I just don't get it from a time piece perspective but that more to do with its not my thing. Cars on the other hand ?

P. s G Shocks, great bit of kit I've got one that's seen alsorts of action and taken a battering but still going strong.

 

[Britishshooting]

Absolutely fair play to you, my FiL is a watch collector as well has quite big collect of Rolex, Breitling also got a fairly costly Patek Phillipe.. Totally agree its about what you like, I just don't get it from a time piece perspective but that more to do with its not my thing. Cars on the other hand ?

P. s G Shocks, great bit of kit I've got one that's seen alsorts of action and taken a battering but still going strong.

Give me a shout when he pops his clogs! Just kidding, but really drop me a message!

I have a G-shock a citizen some rolex's and Tudors an omega seamaster and a citizen ecodrive. Nothing ridiculously fancy like some of the Patek's

I'd never say anything bad about the G-Shock or citizen, they are the least effort don't require the more regular services if any for that matter due to being disposable and actually my citizen eco-drive keeps better time than some of the more expensive watches I've had and it cost me £350. I actually wear it as a daily beater for work as it's a slip on and forget about it job as long as it gets some natural light it doesn't need a new battery or kinetic energy to keep going.

I just can't bring myself to buy rolexs on the grey market, I refuse to pay £3-4k above the RRP on a watch thats fresh out the stores, it's all about finding an AD that you build a relationship with and he'll let you in on some of the stuff thats not on display. Rolex AD's are very aware of people buying to flip hence the waiting lists which will result in some people never getting one.

There an investment for me, I enjoy watches but I also appreciate the £100 G-shock and £350 citizen does exactly the same job with less hassle than say my Deepsea Sea Dweller only difference is I can't dive almost 4000mm in the citizen which is a terrible shame and genuinely causes me issues on a day to day basis.

Does feel good though when you slip on a watch you've aspired to since being young as they were your dads dream watch that were out of reach for him.

 

[Wolf]

Give me a shout when he pops his clogs! Just kidding, but really drop me a message! I

??...

You've probably got a 30 year or so wait being as he's only mid 50s now.. But as a collector he has an impressive amount, they're all regularly serviced and have those special cases that keep the movement working and running (I don't know the technical term I switch off when he talks about them)..

 

[Britishshooting]

??...

You've probably got a 30 year or so wait being as he's only mid 50s now.. But as a collector he has an impressive amount, they're all regularly serviced and have those special cases that keep the movement working and running (I don't know the technical term I switch off when he talks about them)..

I'm patient!

Yeah the watch winders, thats the thing, you put a rolex down for a period and pick it up you need to re-wind it to use unless using a watch winder of course. Quartz and Solar powered watches will still be pretty accurate and good to go.

I've stopped using the watch winders myself, I don't have a huge collection and switch my watches on a frequent basis so it's not a huge issue. It's sad but I do also enjoy re-winding a watch and setting the time and slipping it on my wrist for the relevant occasion.

 

[Wolf]

I'm patient!

Yeah the watch winders, thats the thing, you put a rolex down for a period and pick it up you need to re-wind it to use unless using a watch winder of course. Quartz and Solar powered watches will still be pretty accurate and good to go.

I've stopped using the watch winders myself, I don't have a huge collection and switch my watches on a frequent basis so it's not a huge issue. It's sad but I do also enjoy re-winding a watch and setting the time and slipping it on my wrist for the relevant occasion.

I'll let him know the reaper is waiting ?

I think last count he a a couple of dozen maybe more in his collection but always looking to add to it. I must be a heathen because I simply don't appreciate what they mean or are worth, on my wedding he presented me the Patek Phillipe to wear for the day as he felt the occasion warranted it, of course i took and wore it out of courtesy, the photographer fawned over it and got a picture of him putting it on me.. I barely looked at it, and could not wait to return it to him out of fear of damaging it.. Straight back to the G shock following morning..

 

[Fade and Die]

I'll let him know the reaper is waiting ?

I think last count he a a couple of dozen maybe more in his collection but always looking to add to it. I must be a heathen because I simply don't appreciate what they mean or are worth, on my wedding he presented me the Patek Phillipe to wear for the day as he felt the occasion warranted it, of course i took and wore it out of courtesy, the photographer fawned over it and got a picture of him putting it on me.. I barely looked at it, and could not wait to return it to him out of fear of damaging it.. Straight back to the G shock following morning..

Would have been a nicer gesture if he had given it too you as a form of dowry!?

 

[Wolf]

Would have been a nicer gesture if he had given it too you as a form of dowry!?

I think the fact he paid for the entire wedding, the bar and hotel rooms for immediate family and the honeymoon was in his eyes a big enough Dowry ?

I'd have just sold the watch ?

 

[Britishshooting]

I'll let him know the reaper is waiting ?

I think last count he a a couple of dozen maybe more in his collection but always looking to add to it. I must be a heathen because I simply don't appreciate what they mean or are worth, on my wedding he presented me the Patek Phillipe to wear for the day as he felt the occasion warranted it, of course i took and wore it out of courtesy, the photographer fawned over it and got a picture of him putting it on me.. I barely looked at it, and could not wait to return it to him out of fear of damaging it.. Straight back to the G shock following morning..

Sigh!! He sounds a top bloke!

Your G-Shock tells the time, your not embarrassed to tell the wife how much it cost and if it gets lost or broken big deal. My G-Shock gets worn still 4 times a week whenever I go swimming or to the gym. I've had it about 7 years and besides a battery replacement its never been a scrap of trouble. Pound for pound its by far the best watch I own in that perspective.

I like to tell myself that the watches are investment pieces but I'm only kidding myself. Some have grown in value granted but the Tudors/Omega etc just don't have the re-sale value of the rolex's to warrant them as investments. But I'm not buying them to make money I just like watches I guess.

 

[Britishshooting]

I think the fact he paid for the entire wedding, the bar and hotel rooms for immediate family and the honeymoon was in his eyes a big enough Dowry ?

I'd have just sold the watch ?

Where do you find these in laws? My FIL is very well off but the most frugal person ive ever met, he literally regularly goes skip diving whenever he sees one and dresses like a hobo. For our wedding gift we got a cheeseboard he found and had re-varnished and engraved our name on as their contribution. Not that we were after any contributions but he's either the tightest chuffer known to man or hates my guts haha. Brilliant engineering mind however and great to have a pint with.

 

[USER1999]

I too have a thing for watches. There is just something about them that appeals to the engineer in me. If I had more spare cash, I would just buy more watches. Probably a good job I am skint.

 

[Wolf]

Where do you find these in laws? My FIL is very well off but the most frugal person ive ever met, he literally regularly goes skip diving whenever he sees one and dresses like a hobo. For our wedding gift we got a cheeseboard he found and had re-varnished and engraved our name on as their contribution. Not that we were after any contributions but he's either the tightest chuffer known to man or hates my guts haha. Brilliant engineering mind however and great to have a pint with.

When it comes to my FiL I'll hold my hands up and state I have a real diamond, no idea what he does for a living other than its something to do with Oil and he's very high up in the chain of command. He's a genuine guy and very generous without you needing to ask. If he can help he will without flinching, but my MiL christ wouldn't wish her on anyone not even the devil himself. Probably why the FiL divorced her over 2 decades ago ?

FiL only downfall is he's a Liverpool supporter so shows we can't all be perfect ?.. Good bloke go for a beer with though.

Back to watches I can understand more collecting things you like, I guess i just don't see the value in something so expensive that does the same as a cheaper one especially as it just sits on your wrist. My G Shock has literally been to war zones, in some horrible water and still going strong but then I guess that answers why I see watches the way I do, I've always needed one for function and durability over anything else..

End of day if you enjoy them or other items in a way that is pleasing to you then fair play.

 

[jim8flog]

Just had to get the defib machine... I've found something I agree with you on DFT.. I equally don't understand how someone pays so much for something that merely tells the time no better than an 8 quid Casio from Argos.

Hmmm
Over a period of say 1000 years the Rolex may be slightly more accurate by several milliseconds.
Well worth the investment......


In the Casio ?

These two comments made me smile

My wife died in 2005, she had a Casio watch that was well over 10 years old when she died. I found it in the bottom of a draw last year still running with perfect time.