A. Lange & Söhne

rdenney
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What about the consignee?

It seems to me, applying logic as only a non-lawyer might, that the consignee has now been legally informed that the watch's provenance has been undermined. Having received notice of that, he has two options: Try to resolve it, or try to hide it. If he ignores what he now knows, it seems to me that he absolutely undermines any position he has as a bona fide purchaser in the common law sense. A bona fide purchaser must be completely unaware of any challenge to the ownership of the item in order for him to be an innocent buyer in good faith, it seems to me.

If he sells it quickly to be rid of it, given that he now has official knowledge of its questionable provenance, it seems as though he could still be charged with trafficking in stolen property, and also of fraud if he attempts to pass it off as having clear title.

In fact, the only action the consignee can take to preserve any possible defense of being a bona fide purchaser will be to notify the authorities and take action against the person from whom he bought it. If that person can't be approached because it was a shady deal, then the consignee undermines any protection from being a bona fide purchaser in that the definition of such requires buying from a legitimate source, where one has a full expectation of clear title. As soon as he makes himself no longer a bona fide buyer, it seems to me he is subject to criminal investigation (at least). Given the documentation that now confirms the consignee's possession of the watch, I would think that investigation could go forward even if he drops it in the ocean, at which time, it seems to me that the nemo dat principle applies in trover (meaning he owes the value of the watch). Perhaps Antiquorum could be persuaded to pass that message to the consignee, given that they are unwilling (until they are compelled to do so, which I believe is only a matter of time) to open their books on the matter.

If the consignee is the thief, or bought it knowing it was hot, an offer of a finder's fee might be a way to get the watch back without a drawn-out legal proceeding. A finders fee of 10% might cover the consignee's costs. As distasteful as that might be on principle, it might return the watch and the guy might be willing to do it to avoid a criminal proceeding.

("No, no, no. This is a Rochefoucauld..." "In Philadelphia, it's worth fifty bucks")

By the way, this has caused a discussion on at least one other forum in which I participate.

Rick "IANAL" Denney
This message has been edited by rdenney on 2015-12-29 14:53:02