First Rolex

[Northern Lights]

been waterhunting 25 years, found many watches, first Rolex. Had it authenticated by an established watch shop, as the genuine article. Thought I was doing great with a small cluster 10kt ring, then 10 ft later I hit this. Probably came off one of the yacht's that anchor off the swim area. It's my 2nd best all time find in value. New to the forum and posting. Are many found ? Is it really an unusual find ? It is for up here.

 

[Stevo]

Northern Lights,

I wouldn't recommend sending it in to an authorized service shop. Each Rolex has it's own serial number and from what I've heard they could send it back to the actual owner. It may just be a rumor what I have heard because I have never owned one. I was lucky enough to try one on one time, but that's another story....

Any local jeweler should be able to clean it and do what they need to do to keep it ticking.

We all look forward to more pictures of future finds.

JP

Rolex is in the business of selling watches, not returning them. If you bring a watch in for repair you are legally protected as a CONSUMER. Even the repair shops are held to certain standards just as a pawn shop is with your merchandise.

My brother found a Rolex (women’s presidential) completely flooded. We replaced the crystal, timepiece and bezel at the cost of $1,400.00 with no questions asked.

I also have a Submariner that I sent in for repair in 2002. Unfortunately I ran into some hard times and did not afford repair bill 2006. When I went to the Jeweler to claim it in 2006, it had disappeared. Under law the jeweler is responsible to send you a certified letter claiming the watch is being sold 30 days before pending sale just as a pawn shop. To make a long story short I purchased my original Submariner in 1988 and in 2006 I received a brand spanking NEW one compliments of the Jewelry store.



Best regards,

Stevo

 

[JP]

Northern Lights,

I wouldn't recommend sending it in to an authorized service shop.  Each Rolex has it's own serial number and from what I've heard they could send it back to the actual owner.  It may just be a rumor what I have heard because I have never owned one.  I was lucky enough to try one on one time, but that's another story....

Any local jeweler should be able to clean it and do what they need to do to keep it ticking.

We all look forward to more pictures of future finds.

JP

Rolex is in the business of selling watches, not returning them. If you bring a watch in for repair you are legally protected as a CONSUMER. Even the repair shops are held to certain standards just as a pawn shop is with your merchandise.

My brother found a Rolex (women’s presidential) completely flooded. We replaced the crystal, timepiece and bezel at the cost of $1,400.00 with no questions asked.

I also have a Submariner that I sent in for repair in 2002. Unfortunately I ran into some hard times and did not afford repair bill 2006. When I went to the Jeweler to claim it in 2006, it had disappeared. Under law the jeweler is responsible to send you a certified letter claiming the watch is being sold 30 days before pending sale just as a pawn shop. To make a long story short I purchased my original Submariner in 1988 and in 2006 I received a brand spanking NEW one compliments of the Jewelry store.



Best regards,

Stevo

Next time read what you sign when you send  in something for repair.  If an item has been reported to them as missing they will return it.  Just because your brother had the experience that it hadn't been reported missing don't jump to conclusions for someone else. 

This is standard practice with almost all companies now that deal with items that have individual serial numbers.  Everytime you send in an item for repair it states on the form that it is not their responsibility to return to you the item if the item has been reported missing to them.  They will return the item to the original owner.  Not the finder keeper.

Again don't give advice if you don't know what you are talking about. I don't like to be quoted to be made to look like an idiot.

 

[utah hunter]

What if the owner didn't know for sure it was lost in the water, and then reported it stolen to Rolex and the police? Getting it serviced by Rolex could set off alarm bells, and you would be under suspicion. Likely story, you found it metal detecting? That would be the first reaction from investigators.

Odds are slim of that happening, but just a thought.

 

[JP]

My step brother who works in a jewelry shop explained to me that one of the nice things about owning a Rolex is that if it is ever stolen or if you were to lose it, you just report it to them.  If it comes their way they will send it back to you. Of course if you found it and wanted to return it to the owner this would be the route.

What if the owner didn't know for sure it was lost in the water, and then reported it stolen to Rolex and the police? Getting it serviced by Rolex could set off alarm bells, and you would be under suspicion. Likely story, you found it metal detecting? That would be the first reaction from investigators.

Odds are slim of that happening, but just a thought.

Utah Hunter

I just sent in a mini hard drive to western digital.  On the form that I had to print out to send it in with, it stated that if it was one that had been reported missing or stolen than they would be forwarding all information to the actual owner.  Also stated on the form that they do not have to notify you if they take that action. 

My question of course is what if you bought it used from someone without knowing off of one of the auction websites.

   

 

[utah hunter]

[/quote]

Utah Hunter

I just sent in a mini hard drive to western digital. On the form that I had to print out to send it in with, it stated that if it was one that had been reported missing or stolen than they would be forwarding all information to the actual owner. Also stated on the form that they do not have to notify you if they take that action.

My question of course is what if you bought it used from someone without knowing off of one of the auction websites.




[/quote]

If you have proof of where you got it and payment receipt, it will make your life much easier. Ebay for one deletes ended listings 90 days after the listing ends, so all proof is gone. If someone is reported as commiting fraud to ebay, they will many times delete any listings done by the fraudster, EVEN IF IT IS LESS THAN 90 days. I saved my bacon recently by copying the listing and pictures and saving it on my computer. The listing was for a large batch of coins and $2300 is what I paid through Paypal via my Capital one card. The person sent one coin and it was signed for by one of my kids. He sent proof it had been signed for it to Capital one after I disputed the charge. With the listing I had saved and the weight shown on the package, I proved he couldn't have sent the items listed. Still a pain to get fixed, but much better than paying $2300 for a ten cent coin.

 

[Rebel Man]

Nice find, absolutely beautiful, I also agree with jpotter, with the topic on Rolex's responsibility, and at any cost I'm sure you will decide what to do with it, right? I watched a murder/story on TV recently, the body was taken out to deep sea, and weighted down with chains etc. A diver actually found the remains months later and a Rolex watch that still worked was traced to the original owner who was attached to the watch. True story, and the crime was eventually solved.
Enjoy

 

[Stevo]

As I stated before, there are laws and statutes written to protect the consumer (person who found the lost watch and is sending it in to be serviced). Neither Rolex nor the Jewelry store is above any law. If the watch was claimed stolen it would not just go back to the original purchasers cart blanc. If it was claimed stolen and an insurance company paid on the claim, it would be property of the insurance company. Rolex is quite aware of the many different scenarios there may be with any claimed watch.

That’s a beautiful watch you found. Don’t let all this talk about the watch being claimed stolen scare you. No matter what you do with it, you may want to consider making it legally yours. You can contact your local authority about claiming a lost item. Consider this, if you decide to wear it, that watch will eventually break. If you decide to sell it and someone else wears it, it will still eventually break. It will make its way back to Rolex for some type of service. I would attempt to make that watch legally yours by what ever means possible, it will also make the watch more valuable.



Best regards,

Stevo

 

[JP]

Since I guess I don't know anything about law, because I didn't study it for my tenure at the university, etc.., where is the statute that states you are a protected consumer if you find something that is not yours or are given items that may be stolen and you send them in for repair?  I guess that would be a good defense for any criminal dealing in stolen merchandise, that he is a protected consumer.  There is no law that protects you for items that you find that are not yours.  In fact most places state that you must turn in such items to the proper authorities and if the items are not claimed then they probably will return the items to you.  Each state has it's own laws regarding lost items so having something that is not yours could subject you to prosecution.  As they say ignorance is no excuse in the eyes of the law.

That is also why cars are returned to the owner that reported them missing 25 years ago.  Just because someone found the car in a storage area and tried to repair it didn't make it theirs.  That is why lost ships wrecks 300 years after the fact are fought for in court.  If insurance claims were paid then the insurance company may walk out of the courtroom as the owner of the wreck.  If their are relatives of the victims they may have a claim to it.  Again it is not a finders keepers scenario.  Odyssey Explorations can testify to this.

If an insurance company has paid the claim on an item they are the legal owner of that item, which may include a Rolex watch.  That is why missing artifacts missing since WWII are picked up and taken back  to the original owner.  It doesn't matter they were lost to time, they still were recovered from people who may have purchased them for large sums of money.  Guess what, they didn't get their money back because there is no protection for a consumer that presents an item that had been lost or stolen.  Sorry to let you down. 

It would be nice a finders keeper world but we don't have that.  I feel that if someone was stupid enough to take it to the beach and lose it then it is their problem not mine.  I'm the one that bought the $1000 metal detector and took my time to find an object buried in the sand.  I'm the one that spent the gas money to get there.  If they wanted their item they shouldn't have taken it to the beach or they should contract someone to help with finding it. Do I feel sorry for the person when I find a wedding band? YES, I do feel bad......

Steveo,  I'm not trying to make you look bad I'm just trying to open your eyes to what all of us have found out through treasure hunting.  What they talk about on those treasure hunting shows with Becky, etc may not always be true.  I had dreams just like everybody else on this forum that I would find items and never have to worry about selling them or what ever.  There are all kinds of laws protecting lost items and items that are disguised under the misguided term of "our heritage."  Just be careful with your finds and do what is correct.  That's why most of the pros scrap their jewelry finds and send it in for melt down.  It's also why they don't post their best finds.   Coins found in the ground are another issue.

All of these reasons are why one would want to be careful with a recovered watch that has a retail value of x-amount.  You don't know what the history behind it was or if someone reported it.  It has an individual serial number that identifies it against all others.


Sorry Northern Lights to pull the attention away from your beautiful find.  Congrats again.

JP

 

[Jason in TN]

This watch is causing all sorts of problems. Please send it to me and I will take care of it for you.
Great find keep up the good work.