Discussion in 'General Discussion' started by eviled, Jun 3, 2019.
Pretty scuffed up. Wonder how much that'd knock off the value.
I know it's subjective, but damn that watch is ugly.
Where/how was it stolen from out of interest? Or have i missed that part of the thread
cant all have good taste
It was stolen in a house burglary 6 month ago, reported the serial to Rolex UK who were later contacted by the police who had found it on a guys wrist during a drugs bust!
The worrying things is now the crown moves the dial inside the case
Taken exactly 5 weeks before it was stolen after several years of me wearing it daily
Might be able to get that repaired by a decent jeweller. Glad you got it back.
Hopefully doesn't leave you out of pocket getting it repaired, If it holds sentimental value then can you really put a price on it.
insurance have offered me a buy back offer....
with the amount of polishing the case will need I think you'll lose the shape of the lug shoulders, and with the dial loose in the case your looking at some internal damage, which at worse if snapped dial feet...
The repair bill would likely be well over >£1000 and doubt it would be the same.
Needless to say the insurers got a very snotty email back and have refused to tell me where they will auction it
Real chancers aren't they?
Shouldn't the buy back price be what they paid out to you?
Less a deduction for the damage suffered and the cost to put right (although not for the full cost because it was under insured)
If you send that in to Rolex it will come back as new or very close, something to bare in mind the serial may have been blacklisted due to the watch being stolen. Either way a full service from Rolex with a new crown etc... wont be cheap the £1k quote is probably not that far off.
How do you work that one out?
That might be ethical, but it's less profitable.
It should come back as new - Rolex could simply swap the serial number to a new watch. Rolex isn't an artist creating one-off art pieces. They're a business manufacturing products that they sell at a vast markup. The odd replacement here and there wouldn't be significant.
That deal is complete though. They paid up as was agreed and now they own the recovered watch.
They aren't cheating anyone if they manage to sell it for more than they paid out.
So what's a 2012 green Milgauss worth? £6.5k or thereabouts?
With the £4k buy back I think you'll be looking another £2k to get it back to pristine. It's a bit more niche than a basic submariner. A service is £500ish alone.
Question now becomes an economic one, how much did the insurance pay out? And how out of pocket will you be if you buy back and have repaired? This could be offset against potential increased value.
Personally, if it had real sentimental value youd buy back instantly. If you're debating costs then leave, move on and get something else.
In the case of a full settlement where the policy holder has been indemnified back to his position before the loss then I'd agree.
However, I don't think its as cut and dried given the watch wasn't insured for its full value and they offered him a reduced payout which wasn't enough to replace the item.
I don't think jewellery is covered under new for old policies hence why you are normally asked to provide values of items over £1500. Since there is generally no set value for most expensive jewellery, payouts rely on valuations, and if you've undervalued it you have done your own legs.
Spill the beans.. how much did the insurance company pay you.
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