Help-scammed 30 years ago?

[honesty]

Hello everyone- I am delighted to find such an informative forum!
I have a dilemma, My husband bought a Rolex watch in 1988 for $8,000. The jewelry store where it was purchased provided an Insurance Appraisal which included a retail value of $15,500. When I went to a very reputable dealer yesterday, the gentleman told me that the appraisal makes no mention of the serial number and the model number had a "typo" 180388 s/b 18038. Plus upon closer inspection the serial number inside the watch had been scratched off and that I would be unable to sell it. I am absolutely sick over this. The original Jewelry store is still in business (after 35 years in the same town) Does anyone have an opinion on how I can approach this with them? Do you think that they will be interested in making this right? Thank you!

[scoot4nat]

Was it an AD?

Has the watch been serviced or repaired somewhere else at any point?

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[AK797]

I would try them, the store is still in business so should be offering good customer service. If you still want to sell it, you could take it to a Rolex service center and ask them to verify it is genuine, or have a service and refurbishment as well, altho this will cost depending on how much work needs to be done.

[Walts]

Could you post a picture of the or at least tell us what type of Rolex was purchased. What do you mean when you say the model number was a typo ? Rolex generally didn't make mistakes when marking the model number . Pictures of that would help .

[Forum-Dweller]

Do you have the box & papers?

[honesty]

Thank you for the quick responses! The original seller is not an AD, but the fellow that examined it yesterday is. It has never been serviced or repaired. I was told that a Rolex authorized repair person may confiscate it. Any suggestions?

[05carbondrz]

Pictures here are a must.

[MonBK]

Originally Posted by honesty

Thank you for the quick responses! The original seller is not an AD, but the fellow that examined it yesterday is. It has never been serviced or repaired. I was told that a Rolex authorized repair person may confiscate it. Any suggestions?

They can't confiscate it, it's a myth.

[Thatguy]

If it has been reported stolen then Rolex may hold it.
Very strange but I don’t see you having much recourse after 30 years.


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[rootbeer7]

Originally Posted by MonBK

They can't confiscate it, it's a myth.

Unless reported stolen

[joli160]

I don't think much is wrong with your watch. I doubt that a still existing jewellery store sold a fake watch 30 years ago.
Old appraisal is useless anyway.
Don't worry just yet.
The serial number is possibly worn away after 30 years of use, that does not mean you can't sell it, happens more often.
Perhaps under high magnification it can still be seen.

If you still have an invoice or better the original Rolex papers that would be an added bonus.

Post some good pictures of the watch, dial and marks on the bracelet clasp. Also try to make a picture between the lugs. You will get an honest answer from the people here. Some members have much more knowledge than any AD salesperson

[MonBK]

Originally Posted by Thatguy

If it has been reported stolen then Rolex may hold it.
Very strange but I don’t see you having much recourse after 30 years.


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Originally Posted by rootbeer7

Unless reported stolen

I seriously doubt that a jewelry store still in business in the same location after 35 years sold a stolen watch 30 years ago!

[WS9D]

Originally Posted by Walts

Could you post a picture of the or at least tell us what type of Rolex was purchased. What do you mean when you say the model number was a typo ? Rolex generally didn't make mistakes when marking the model number . Pictures of that would help .

I believe OP was referring to the appraisal sheet from jeweler. My buddy had one with a typo that I caught for him.



To the OP, if the watch has been worn a lot over 30 years, there's a possibility it just wore off over the years from bracelet rubbing on case.

[mtgjr]

Originally Posted by Walts

Could you post a picture of the or at least tell us what type of Rolex was purchased.

She did. Day-Date....18038.

[REFZ]

Doesn't sound as a scam. It was a fair price for a YG DayDate in 1988 and the serial number is probably worn away between the lugs.

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[honesty]

I do not have the box, I only have the receipt & insurance appraisal. I do not have any actual papers from Rolex. The appraisal reads as follows:
One men’s 18k yellow gold Rolex watch. The watch featured a day-date oyster perpetual chronometer movement, and has the presidential style bracelet. Watch also is equipped with a two carat diamond and 18k gold bezel and gold face set with diamonds at the numbers, and diamond ‘baqquettes’ at the 6 and 9 spots. The watch is model number: 180388. The retail value: $15,500.00
Appraised by: xxxxx
And a raised seal stamped on his signature

[Dirt]

To the OP.
So I assume the watch was bought second hand 30 years ago without service history.

In reference to the serial number inside the watch allegedly "scratched off". I also assume you are actually referring to the number stamped on the Mid-case which is located between the lugs where the bracelet attaches. To be clear, this is not "inside the watch".
It is not uncommon for the numbers to wear off over time due to some play in the end link depending upon usage patterns and maintenance(a regular clean in dish soap will go a long way to clean out the dirt which exacerbates the wear and tear).
Especially when the watch is worn a lot.

Given the facts as stated.
I would seem highly unlikely the jeweller it was originally purchased from would still be in business all these years if they were dodgy.
Further, the valuations are worthless all these years on other than to be of little more than curiosity value.
It's a myth that Rolex simply confiscates watches at their discretion. But it has happened on rare occasions.

You don't say why you are looking into the watch.
Is it not running correctly?
If it needs repair or servicing after all these years.
On balance I would consider taking it to an official Rolex Service Centre for a quote.
Alternately and preferably), I would simply go to one of the highly respected independent Rolex repairers on this forum to have it looked at. It will be a very cost effective way forward whilst being a first class job that's comparable to a RSC job. And you still retain absolute control over the exercise if in fear of confiscation by Rolex.

It seems as though the second person you went to may be a part of your problem and they've poisoned your mind over this.

Enjoy
You have sound options at your disposal.

[honesty]

I do not have the box, I only have the receipt & insurance appraisal. I do not have any actual papers from Rolex. The appraisal reads as follows:
One men’s 18k yellow gold Rolex watch. The watch featured a day-date oyster perpetual chronometer movement, and has the presidential style bracelet. Watch also is equipped with a two carat diamond and 18k gold bezel and gold face set with diamonds at the numbers, and diamond ‘baqquettes’ at the 6 and 9 spots. The watch is model number: 180388. The retail value: $15,500.00
Appraised by: xxxxx
And a raised seal stamped on his signature

[Dirt]

Correct.

[Chiboy]

Originally Posted by honesty

I do not have the box, I only have the receipt & insurance appraisal. I do not have any actual papers from Rolex. The appraisal reads as follows:

Well, post five more attempts and then you will be able to post pictures!

I remember being pretty frustrated with posts being monitored and approved when I started, but it is for the safety of the community. So scammers have a harder time joining and pulling off a scam right away. At least that is what I assume.

[honesty]

Ia

[honesty]

Getting thru! making some headway... Thank you everyone!

[breitlings]

i think it is not an 18038, maybe an 1803. very possible the serial has worn away. i would get a second opinion.

[Dirt]

It all looks legitimate.
From the wear and tear on the bracelet it's been around the world a few times.
The possibility the Serial number is simply worn off is extremely high.

Just send the watch off for some much deserved TLC at the spa.
Some before and after pics will be appreciated.

[kauffee]

Yeah the answer is just to send it to RSC for a service. You will get a new set of papers from Rolex that will legitimize the watch.

[mtgjr]

Originally Posted by breitlings

i think it is not an 18038, maybe an 1803. very possible the serial has worn away. i would get a second opinion.

Good point. Maybe the appraisal put the year of purchase ('88) after the reference number 1803......hence, the number 180388 showing on the appraisal.

[MILGAUSS88]

Well there is no ref 180388, so I do not think there was any fraud there.

The serial number is located between the lugs at 6:00 and it is not unheard of for the band to rub against the serial number and obscure it.

The movement has a serial number as well, but it is not the same number as the case., and it is not the serial number that the watch would be identified by Rolex or an insurance company.

There is a reference number on the inside of the case. But that is the model number, not a serial number.

So, I would want to know which of these three numbers has been scratched off and how.

[breitlings]

try bobswatches.com to sell fast.

[The Libertine]

Originally Posted by kauffee

Yeah the answer is just to send it to RSC for a service. You will get a new set of papers from Rolex that will legitimize the watch.

Agreed. Current paperwork from Rolex is the way to go.

[Forum-Dweller]

Originally Posted by The Libertine

Agreed. Current paperwork from Rolex is the way to go.

...but the serial is scratched off.

Anyway, the appraisal is trash. Either the guy completely overlooked the diamond bezel or that was added after the appraisal. It only mentions of it having an 18k bezel.