WatchFacts® founder John Cormier has been fascinated with watches dating as far back to high school. When he graduated from college, he treated himself to his first watch, a two-tone Rolex DateJust. He did not have a lot of money, so he purchased it pre-owned from a luxury watch retailer for about 40% less than the price of a new Rolex DateJust. Years after he purchased the watch, Mr. Cormier noticed that the watch did not track time properly and there was some discoloration on the bracelet. Thinking the watch was due for service, he sent his watch to Rolex in New York for service. After the watch was inspected by the Rolex service technician, he received a call and was advised that the watch had an authentic case, but had inauthentic parts. It wasn't 100% authentic. At a quick glance, it was impossible to know that he had purchased a clone. All his hard earned money went towards a very expensive paperweight because the cost to restore the watch to its original condition was more than the current value of the watch.

If the watch had a third party certification or if Mr. Cormier could have ordered a report concerning the watch, he would have been an informed buyer and avoided frustration and not to mention, saved a lot of money. He still owns the watch, and has held onto it as a reminder of that experience. As a result, all his future timepieces were purchased new and from authorized retailers.

About The Founder

John Cormier, founder of WatchFacts®, is a collector of fine watches and possesses an extensive global financial background. Mr. Cormier graduated summa cum laude with a bachelor's degree in finance from the University of Houston and holds an MBA from the Wharton School of Business at the University of Pennsylvania. Mr. Cormier is also a certified public accountant and possesses an accounting degree from Louisiana State University.