Three Gold Brothers, Inc.

Review: I purchased a Rolex from this company in June of 2009 via [redacted]. The seller has good feedback with [redacted] so I trusted that the watch was authentic as listed. Several years later the watch stopped working so I sent it for repair and was informed that it is fake. I contacted three gold brothers and they said that they no longer have records of or can not find details of this transaction.Desired Settlement: I would like the purchase price of the watch returned to me ($3800).

Business

Response:

Three Gold Brothers, Inc. (“TGB”) is a premier retailer of new and used authentic luxury watches, and does not engage in the purchase or sale of replicas or fakes. TGB guarantees that all its watches are authentic, and has a certified watchmaker (with over 20 years of experience) test each timepiece to ensure authenticity. Prior to this incident with [redacted], TGB has never had any complaint that a watch was a replica or fake in its entire 5 year operating history. TGB has a 14 day return policy on all watches sold.

In this case, the subject Rolex watch was sold approximately 4 years ago to the buyer, who is an owner and operator of a pawn business with over 10 years of experience. Any owner or operator of a pawn business would immediately be able to recognize a replica or fake Rolex, which is among the most common watches pawned in the United States. Consequently, it is inconceivable that the buyer would not have known of any alleged problem with authenticity upon purchase approximately 4 years ago, or that he would not verify authenticity of a $3,800 Rolex purchased immediately upon receipt with a watchmaker who assists his pawn business or otherwise.

In addition, the buyer’s claim that the Rolex was a fake also lacks merit because the buyer sought to use the price paid for the alleged fake ($3,800) as a credit on another watch he wanted to purchase from TGB when he contacted TGB to claim he discovered the alleged fake. However, since the original purchase in 2009, the price of such Rolex watches fell significantly, and TGB would not provide the same trade-in value as demanded by the purchase.

It is very suspicious that such a seasoned pawn broker would not have known the watch was not authentic upon purchase, and it is also very suspicious that such a pawn broker would want to purchase another luxury watch from a company which he claims sold him a fake watch 4 years ago.

Consequently, the alleged complaint against TGB is without merit, and appears to be nothing more than an unlawful attempt by an unscrupulous pawn broker to take advantage of a premier watch retailer because he is apparently bored of his Rolex, which has fallen in market value due to general economic conditions.

Consumer

Response:

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed Administratively Resolved]

Review: [redacted]

I am rejecting this response because:

As I am and have been a pawnbroker for many years and do have some experience with Rolex, I purchased this watch in good faith from what seemed to be a reputable dealer. I relied upon the sellers expressed warranty that it was authentic. There were no obvious signs that it was not genuine. It was only upon inspection by a watch maker that it was determined that it was fake. I had no reason to have it authenticated by an expert until it stopped functioning.

I requested that the seller verify the serial number of the watch I purchased in order to support my claim that this watch was indeed the same one they sold me. To this date they have not done so. They claim that they have lost the records of the transaction or that it would be to time consuming to search for said records. I sent the seller pictures of the watch including the serial number to assist them. They agreed from the pictures that the watch was indeed fake.

My initial thoughts on this matter were that the sale of this counterfeit watch was an oversight on their part. I spoke with [redacted] on multiple occasions on this matter giving ample opportunity for him to offer any resolution. I was open to suggestions but none were offered. It was only then that I suggested a credit toward another watch. I was looking for any resolution to this matter.

They assert that I am bored with the watch and that is the grounds for my complaint. This would imply that they are still contending that it is genuine. The fact of the matter is that I purchased this watch in good faith from a self titled "premier watch retailer" They either knowingly or unknowingly sold me a counterfeit Rolex and are unwilling to work with me in any way.