Missing Rolex 16800 Serial no. 9207056

PLEASE LOOK OUT FOR SERIAL NO. 9207056

I sent my Rolex Submariner 16800 to Mr. Calvin Yeung last March 14, 2008 via Fedex. It arrived its destination with the following details on their website

Tracking number
xxxx-xxxx-xxxx
Signed for by
M.R YUNG
Ship date
Mar 14, 2008
Delivery date
Mar 15, 2008 10:13 AM
Reference
xxxxxx
Destination
HO MAN TIN KOWLOON HK
Delivered to
Residence
Service type
Priority Box
Weight
1.0 kgs.

However, I've been sending e-mails for confirmation and tried calling recipients mobile but no one answers. Then, I get an e-mail nine hours after the package was delivered from the supposed recipient claiming that

"An empty box, 1lb, was opened with a Fedex guy."

I am flabbergasted.

I called up Fedex and they say that the recipient claimed, upon receiving the box, that the contents (so there was something inside) were damaged. Fedex told me that they are already conducting their investigation.

All calls I have placed to recipient aren't being answered last March 15, 2008.

Next day, I receive an e-mail from supposed recipient that he needs serial no and I obliged. Dunno why he needed it, probably he needs it for the investigation.

I sent the watch because he came highly recommended and with good references.

I am the pragmatic person type of guy who does not want to accuse anyone immediately.

Sad part here is that Fedex insures only up to 500USD and, just yesterday, I got a call from them saying I should already go ahead with the claim.

Fedex is so disappointing.