I was horrified when I first saw a waxed buln!
I don't know if the wax can be removed or not. If so,it may increase chances of the bulb growing. With the was removed, the bulb can breathe.
I would set the bulb in the sun, bottom up, to soften the wax. GENTLY try to remove some wax around the basal plate. If the plate hasn't been too damaged, the bulb should start sprouting roots.
I may have to get one just to try.