These watchmakers typically use their own “museum” or “charity” as a ‘front’ to cover up their shameful act. Immediately after WSJ article, Omega came up with full-page ads in major newspapers where they clearly mentioned that their ‘museum’ bought the watch! I understand Omega will like to disclose this news specially now that this has created very bad press for them. Their ads are like a confession of their crime. The WSJ article has tainted high-priced watch makers. As it was among the top-5 articles on the date it appered, I am sure thousands of people would have got to know of this scam.

This scam is likely to taint the Brand Ambassadors of these watches too. How can they associate themselves with these scam companies?

While I feel disgusted with their actions, I am also amused that the watchmakers short-changed themselves. If it is all artificial between a couple of their fronts (e.g. Omega Museum), why not go over-board? Instead of $350K, I wonder why they did not use their ‘circular-bidding’ to buy their own watch for $3.5 million? Or maybe for $35 million….

I dont have any axe to grind as I do not own (and neither desire to own) any such price-inflated-watches. However, I feel disturbed that a criminal act by Omega and other luxury watch-makers is going unpunished.