Regardless of the depreciated value of your sentimental 2009 model, as a matter of goodwill I'd think they'd at a minimum replace the watch with new one. Especially given the markup on a new one! Your depreciated value (and I get they likely wouldn't be liable nor could a value be assigned both parties would agree upon), would be close to their actual cost of a new one in their display case.
Here's what I'd do:
1. Go up the food chain of managers. What service-oriented organization would want a loyal high-end watch customer screwed due to their shipping vendor's mistake over their hard cost of a Speedy? 2. Demand the offer value in cash. There's probably nothing in their agreement with you that addresses only getting store credit in event of loss/damage. 3. Consider small claims court for the differential or full value. The case is argued by you and the court cost is all you're out if you lose. No atty fee. The limit is high enough to cover the differential between their offer and value of new. Also, these are decided solely by a judge and are a court of equity that can hear the claim of sentimentality. Who knows, you may get a judge that's a watch guy or lady!
4. Before you get the money (but I would have firm offer), tell them you're prepared to make it your life's mission to launch a campaign to get your story out via forums (multiple forums, multiple times), yelp, reviews of the business, social media, complaint to BBB, the list goes on. Businesses take reviews and social media seriously because people read them. This is factual - you can't slander anyone by putting forth factual info you can document.
As far as TV is concerned, personally I wouldn't bother. Not much of a personal interest story for luxury watch getting lost in transit. I don't think the sentimental angle would tip the scales from some competing story about a single mom wrongly evicted, yada yada....
Just my .02, but dang, sorry that happened.
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