Increase in the number of luxury watch thefts
We are seeing the increasing theft of luxury watches, valued at over £1 billion, with an increase in thefts reported in the previous year. Around 80,000 watches have been recorded as stolen or missing by The Watch Register, a specialist company, which saw a 60% increase with 6,815 watches added to the list last year. We therefore recommend that owners of luxury watches take out specialized insurance.
Popular models from Rolex, Audemars Piguet and Patek Philippe have seen their prices rise on the secondary market during the pandemic, attracting more theft and crime associated with luxury watches. Authorities, such as London’s Metropolitan Police and a specialist group in Paris, have stepped up efforts to counter the trend, seeing an increase in armed robberies and deploying more resources to control the theft of valuable watches.
The Watch Register database reveals that Rolex is the most targeted brand, followed by Omega and Breitling, together accounting for 44% of stolen watches. The general director of The Watch Register points out that the value and prestige of these watches attract international criminal networks, making them prime targets for theft.
Our Watch for Life insurance insures your luxury watch when worn in the largest cities such as London or Geneva and reimburses you the market value in the event of a claim.
Insure your watch collection and protect yourself against theft
Your passion for exceptional watches is as unique as the fine pieces that adorn your collection. However, in this dynamic world, it’s crucial to guarantee the security and preservation of these timeless jewels. Accurately valuing your collection can help you ensure adequate coverage in the event of theft, loss or damage. That’s where we come in, to offer you a precise, personalized appraisal.