Rolex watch seller jailed for defrauding customers

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Saw this on the BBC UK feed. Might be behind a paywall
https://www.bbc.com/news/articles/cp84n2n8e1do

summery for posterity

Adam Moore-Lynch, who ran Manchester Watch Hub on King Street in Manchester city centre, promised to sell on clients' high-value watches while taking a commission for himself.

However, the 28-year-old sold pieces including Rolexes, some worth up to £120,000, and kept the money.

Det Con Michelle Wilkinson from GMP's Complex Fraud Investigation team, said the victims had suffered "significant financial and emotional loss".

"The watches have not been recovered, and it is highly likely they were subsequently sold to unsuspecting buyers, which further complicates efforts to recover the victims' property."
 
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Perhaps the biggest clue to him being somewhat dodgy was that he had a watch business in Manchester (NW England) but with a home address over 200 miles away in Dumbarton (North of Glasgow in Scotland)

Of course the old adage applies - a fool and his money are easily parted
(but that was just when they bought the Rolexes in the first place....😁)
 
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Echoes of this:


Selling a high-value watch (car, etc) through a “dealer” under a commission structure is not a wise move unless you are absolutely certain the seller has a stellar reputation. If the seller doesn’t first offer a cash price for the watch, but jumps right into a commission model, run away. That means they have little (or no) liquidity and are propping up their business with “free” watches from sellers. That’s a recipe for fraud.

Most legitimate gray market dealers do not use the commission model except with certain clients. They prefer to own the watch outright to sell, rather than serving as a broker.