Luxury watches value greater than £1bn are registered as stolen or lacking after a pointy improve in potential thefts, knowledge exhibits.
Almost 80,000 watches have been reported as stolen or lacking, in keeping with world crime prevention database The Watch Register.
The platform mentioned there was a “concerning surge” in potential thefts in recent times.
It comes after quite a few high-profile jewelry thefts affecting celebrities together with former boxer Amir Khan, bicycle owner Mark Cavendish and racing driver Lando Norris.
In June, a former watch seller instructed Sky News how he needed to retire after being robbed 3 times.
Paul Thorpe mentioned per week’s value of stealing high-end watches in London might make “more money than some people would earn in a lifetime”.
“It’s an industry all in itself. And I think in many areas, it’s actually overtaken drugs as the crime of choice for some criminal gangs,” he mentioned.
A hovering demand for second-hand watches has fuelled an increase in watch thefts, inflicting the worth of premium items to just about double in just some years.
Victims can register stolen merchandise with The Watch Register, and the platform is then utilized by sellers, jewellers, pawnbrokers and public sale homes to determine stolen watches.
The platform mentioned it has 78,165 stolen watches on its database.
A complete of 6,815 had been recorded as being lacking or stolen final 12 months, representing a 60% improve within the variety of new watches on the worldwide database.
This included a 33% improve for the 12 months within the UK.
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The complete worth of all watches recorded as stolen or misplaced quantities to over £1bn and contains quite a few high-value luxurious watches that individually retail between £50,000 and £100,000 or extra, it mentioned.
Rolex watches are the most typical recorded on the system, accounting for 44% of the whole.
Katya Hills, managing director at The Watch Register, mentioned: “Recent records show a concerning surge in the registration of luxury watches that have been stolen or lost.
“The appreciable worth and status of those high-end timepieces continues to draw the eye of subtle and worldwide felony networks, making them a chief goal for theft.
“The increasing number of stolen luxury watches also serves as a stark reminder of the risks faced in safeguarding such high-value possessions and we advise owners to make sure that they have adequate insurance for their watch, to keep photographs of their watch and to make a note of their watch’s unique serial number, which will aid its recovery in the event of it being lost or stolen.”
Source: information.sky.com”