Jewelers buying stolen Rolex watch seeks refund

This story of a stolen Rolex watch has played out over the past 3 years.

“If you've built a reputation of buying in stolen items, that’s virtually the worst thing you might do as a jeweler,” mentioned a Florida-based jeweler who asked to not be named.

The jeweler purchased a 2003 Rolex Submariner on eBay from K2 Jewelers in Nashville.

Based on authorities, the watch was stolen. K2 Jewelers bought it to the watch dealer in Florida, who sold it to a different jewelry shop, who offered it to a client.

That client then visited a Rolex shop to sell the watch. Instead, Rolex seized the watch, saying it had been stolen.

“I immediately refunded my customer so he might refund his client, but the owner of 2K Jewelers in Nashville declined to provide me a refund of money,” the jeweler said. “So now I’m the one left holding the bag.”

You can find regulations in position to avoid this from happening. State law's said if a jeweler desires to buy from a person, authorities need to be notified.

Channel 4 visited 2K Jewelers. The owner didn't wish to talk on-camera but answered questions.

He said he didn't inform authorities but wasn’t concerned about his clients since he was buying it for himself. A year and a half later, he sold the same watch to a dealer in Florida.

“First of, he shouldn’t be buying stolen goods and selling it to unsuspecting clients,” the jeweler said.

That dealer said they're still waiting on a refund.

After Channel 4 began asking questions, 2K Jewelers stated they'd provide them with the $4,200 they bought it for. That hadn't occurred by Friday night.

“Anybody who buys anything from his shop, they need to be informed that it might be stolen right down the street"

This case appears to be still ongoing.

Wondering what is everyones opinion on buying a stolen watch and who should be reimbursed.