Lou,

It is true that we don't know the complete truth of this story yet. However the first line of the story really made me mad...

A New York billionaire was duped by a British watch seller into buying $700,000 worth of fake Rolexes, according to a lawsuit.

They way this is written makes Dowling sound guilty before proven...anything.

Then there is the line...

When he tried to sell them, he discovered they were overpriced or counterfeit, he claims.

Overpriced is buyer's remorse. Finding out that something you bought way after the fact was "overpriced" doesn't seems like a frivolous issue to sue over.

Now, let's talk about counterfeit. Counterfeit is a strong word and a word with an actual legal meaning. If Dowling sold this guy counterfeit/fake Rolex watches he deserves a lawsuit. However, I doubt that Dowling sold anything that you or I would consider "counterfeit." Possibly he sold Rolex watches which had replacement parts. Depending on the parts, Rolex watches with parts replaced could be a big deal or not. I guess we will find out.

Again, I am not taking sides until I hear more. I still think that if I were buying mega-dollar watches I would trust but verify. I would do my homework.

JohnCote