18 March 2024
By George Wright, BBC News
Getty ImagesThe number of watches recorded as lost or stolen has more than tripled over the last year, according to the world’s largest watch database.
The Watch Register says the value of stolen luxury watches has surged in the past year to $1.9bn (£1.5bn).
The group has reported a 236% increase in the number of watches registered across its platform.
The number of watches listed as lost or stolen now exceeds 100,000 worldwide, the group says.
Katya Hills, managing director of The Watch Register, said: “The incidence of violent street robberies is escalating, with owners afraid to wear their timepieces in public.”
“The strength of the pre-owned market means thieves and fences can easily resell stolen goods for large sums of cash,” she told the PA news agency.
The report highlights cases of retrieved watches, including that of a woman in the UK who was wrestled to the ground and had her £50,000 Patek Philippe Aquanaut stolen. It was recovered after being located to a dealer in California.
After Brentford FC star Rico Henry’s £30,000 “Root Beer” Rolex slipped out his pocket at a hotel in London, the watch was located after turning up at a local pawnbroker’s.
Other watches were recovered from countries including Germany, France and Spain.
The force said two operations in 2022 and 2023 led to watch robbery reductions in and around Westminster.
The work came after 300 luxury watches with a total value of £4m were stolen between April and September 2022.