The Watch Register, the world’s largest watch database, has reported a significant increase in the number of watches recorded as lost or stolen over the past year. According to the database, the value of stolen luxury watches has surged to $1.9bn (£1.5bn). The group has seen a 236% increase in the number of watches registered on its platform, with over 100,000 watches listed as lost or stolen worldwide.
Katya Hills, managing director of The Watch Register, highlighted the rising incidence of violent street robberies targeting watch owners who are afraid to wear their timepieces in public. The strong demand in the pre-owned market allows thieves and fences to easily resell stolen goods for large sums of money.
One such case is that of a £50,000 Patek Philippe Aquanaut stolen from a woman in the UK. It was later located at a dealer in California. Another victim is Brentford FC star Rico Henry who had his £30,000 “Root Beer” Rolex stolen but it was later found at a local pawnbroker’s. Several other cases have been recovered in countries such as Germany, France, and Spain.
The Metropolitan Police in Westminster have conducted operations to reduce watch robberies following the theft of 300 luxury watches valued at £4m between April and September 2022. They have been working to catch watch thieves through undercover operations and other methods to ensure that this trend does not continue and that people can feel safe wearing their precious timepieces without fear of being targeted by criminals.
