New York Vitamin Water mogul J. Darius Bikoff made a bundle –$325 million — when he sold his company, Energy Brands, to Coca-Cola more than $4 billion. And one of his new indulgences was collecting high-end watches.
But now Bitkoff is suing his watch dealer, claiming that many of the $700,000 worth of watches he purchased over the years where either over-priced or fake, according to the New York Post.
Bikoff met British timepiece expert James Dowling through a watch-collector friend the International Watch Show in Manhattan in 2011.
Dowling co-authored a book called “Best of Time: Rolex Wristwatches” and styles himself as a collector who buys older, unique watches, “not run-of-the-mill pieces,” according to his website.
Bikoff purchased a Rolex 6538 Submariner for $94,000 and a Rolex Tektite GEV for a whopping $395,000, among others. But when he tried to sell them he was told that the watches where priced too high or counterfeit the lawsuit claims.
Bikoff demanded a refund from Dowling, but Dowling claimed that the watches had actually gone up in value. Now it looks like they will be duking it out in court. [NYP]