Author Topic: Found watch WWYD  (Read 4470 times)

momo5

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Found watch WWYD
« on: April 06, 2014, 08:11:30 AM »
I found a nice watch and tried to locate the owner. Put up signs, asked neighbors etc.
it's been a while and no ones claimed it. The watch is worth somewhere between $2500-3000 but needs repair, the band is broken (probably how it fell of the owners wrist). Dh wants to have it repaired so I could wear it but honestly, I like the watch I have (worth significantly less but I like it fine). My options as I see them:
Repair the watch and keep it in my drawer
Repair the watch and sell it
Sell it as is
Do nothing ie keep as is, broken in my drawer

What would you do?

CarDude

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Re: Found watch WWYD
« Reply #1 on: April 06, 2014, 08:13:33 AM »
I'd probably sell it as is and donate the profits / pay off debts, depending on my financial circumstances. I wouldn't consider wearing it as I'm not a watch guy.

JamesL

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Re: Found watch WWYD
« Reply #2 on: April 06, 2014, 08:44:41 AM »
I just want to give you props for being so ethical. I'm discovering less and less people have real integrity and ethics. I come across so many thieves, let alone people who would actually try to find the owner of a lost item.

I'd sell it and maybe do some charity work.

shusherstache

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Re: Found watch WWYD
« Reply #3 on: April 06, 2014, 09:06:30 AM »
I found an engagement ring (dirty and worn) on the street a few years ago.  I turned it in to the police and then went to court to claim the property when no one picked it up.  Ethical and ended up selling it to a jeweler, which I would have done anyway to begin with.

SnackDog

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Re: Found watch WWYD
« Reply #4 on: April 06, 2014, 09:07:26 AM »
Put it on Craigslist as a found item.  May be stolen!

arebelspy

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Re: Found watch WWYD
« Reply #5 on: April 06, 2014, 09:12:13 AM »
I found an engagement ring (dirty and worn) on the street a few years ago.  I turned it in to the police and then went to court to claim the property when no one picked it up.  Ethical and ended up selling it to a jeweler, which I would have done anyway to begin with.

This is what I would do, personally.
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James

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Re: Found watch WWYD
« Reply #6 on: April 06, 2014, 09:42:26 AM »
I found a $50 bill on the floor in our local grocery store. I took it to the front desk, and they said they would hold it for 2 weeks to see if anyone said they lost a $50 bill in the store. After the two weeks they called me to pick it up. I felt a lot better spending that money after the two weeks than I would have without doing the right thing. I'm sure you feel the same.

Regarding the watch, first get actual dollar amounts on the options. How much exactly to fix it, and how much exactly would you get for it both fixed and broken. Those numbers are way to important to make the decision without that information.

Once you have that info, please rephrase your question based on the disposable money you have to pay for repairs and what stage of working toward FI you are at. Those make a different to our recommendations.

Having said all that, for myself I would lean toward having it repaired and wearing it for a while just for fun. Never had an expensive watch and might be fun wearing one for a while. But in the end I would sell it, since my idea of a great watch is more along the lines of a Pebble rather than a Rolex... :)

Thegoblinchief

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Re: Found watch WWYD
« Reply #7 on: April 06, 2014, 07:28:01 PM »
Not a watch person at all. I would sell it and use it to pay off some of my debt, possibly after going the extra step of turning it into the police in case the owner wasn't local to your neighborhood.

johnintaiwan

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Re: Found watch WWYD
« Reply #8 on: April 06, 2014, 08:44:46 PM »
I would report it to the police, or whoever you are legally required to inform. You are being very ethical by trying to locate the owner, but if you try to sell it now you may be accused of selling stolen goods. The true owner may have missed your attempts to find him, but might be lurking craigslist looking for "the guy who stole my watch!" You would hate to get in trouble just for doing the right thing.

Twice I have found a wallet in the park and tracked down a police officer. Every time they look at me so confused as to why I didn't just keep it? They will look inside and find money and then look at me like I am stupid for not taking it. I hope the wallets eventually got to their owners, but I don't think that is likely.

Threshkin

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Re: Found watch WWYD
« Reply #9 on: April 06, 2014, 11:42:45 PM »
I found a woman's wallet last week while walking the dog.  It still had money and credit cards so it was most likely dropped.

Went to the address on the driver's license but no one was home. (Out looking for lost wallet?)  It was an apartment complex so I went to the office and gave it to the manager.  A young guy was talking to the manager at the time.  His response was "Super cool man!"