Don’t Ever Buy Rolex Watches on Craigslist

It almost goes without saying, but just in case a few of our readers are new to the luxury watch market, we just want to reiterate that there’s no such thing as a free lunch.  If you want to be the owner of a luxury watch, be it a Rolex or Panerai or any other top brand, please do your research.   Read up on some of the top watch forums and join the community, find an authorized dealer, look for reputable online retailers (having credible third party reviews), visit a pawn shop, or even look on eBay for top-sellers with a proven history.  But for crying out loud, do not buy a rolex watch on Craigslist!

A southwest Florida man has been arrested for allegedly selling counterfeit Rolex watches. According to the Lee County Sheriff’s Office, James Lynch of Cape Coral posted the watches for sale in an online classified advertisement on Craigslist. The sheriff’s office says an undercover detective purchased five watches from Lynch Thursday. Other detectives followed Lynch to his home, where they found 70 counterfeit Rolex, Breitling, Omega and Movado watches. The sheriff’s office says detectives also found fake Oakley sunglasses and Louis Vuitton purses, wallets and belts. Deputies say the retail value that the counterfeit items defrauded the real manufacturers is between $750,000 and $1 million. Miami Herald, June 2, 2012

If you’re new to buying a luxury watch, don’t be tempted by special deals and bargains that seem too good to be true.    Luxury watch owners KNOW the value of their watch and the exact amount it will yield to the highest bidder.