Spectacular heist in Monaco : a reminder of the importance of luxury watch insurance

A few months ago, a heist worthy of a movie script hit the Monaco Watch Company jewelry store, located on Boulevard des Moulins in Monaco. In less than seven minutes, an individual disguised as an elderly man stole loot estimated at 4 million, primarily consisting of luxury watches. This event once again highlights the risks associated with owning luxury watches and the importance of subscribing to luxury watch insurance.

Surveillance footage shows a calm and methodical thief. Disguised, he entered the store carrying a cane and a shopping bag before pulling out a firearm. He issued instructions to the sales assistant, who complied, and even prevented other customers from entering the store with a simple hand gesture. Once his crime was completed, he wiped away his traces using a spray on the counter, then joined an accomplice on a scooter to flee the scene.

This luxury watch robbery is not an isolated case. Luxury watches, highly sought after for their prestige and value, are prime targets for criminals. This incident also recalls the activities of an international network dismantled in 2022, which reconditioned stolen luxury watches to erase all traceability before reselling them abroad. This complex process involved skilled watchmakers and specialized jewelers capable of transforming a stolen luxury watch into a virtually undetectable piece.

For luxury watch owners, these incidents underscore the critical importance of luxury watch insurance. Such coverage not only protects against financial losses related to the theft or robbery of luxury watches but also offers peace of mind in the face of these growing threats.

A luxury watch is more than just a valuable item; it often carries a personal story and represents a long-term investment. This is why luxury watch insurance has become essential for any collector or informed enthusiast. In the event of theft or robbery of a luxury watch, reliable luxury watch insurance ensures swift and effective compensation, helping owners recover more easily from such incidents.

The story of this spectacular heist, combined with that of a dismantled network, sheds light on a troubling phenomenon : stolen luxury watches are sometimes used for money laundering, particularly abroad. This illegal market, fueled by the theft or robbery of luxury watches, demonstrates the scale of the problem and the need for increased vigilance to protect these precious items.

Whether you are a passionate collector or an investor, luxury watch insurance is no longer an option but a necessity. In the face of increasingly audacious heists, like the one in Monaco, it is essential to secure your assets to preserve both their value and your peace of mind.