Luxury watches worth 1 billion francs stolen or missing, Rolex the main target
By Jan de Boer
New data released by The Watch Register has revealed that 1,12 billion francs worth of watches have been reported stolen or missing around the world as of the end of 2022, after cases of theft rose significantly last year. Around 80.000 missing timepieces have been reported to the service, with Swiss watches being the most desired targets for thieves.
80.000 luxury watches now missing worldwide
According to the statement, reported by Swissinfo, some 6.815 timepieces were added to The Watch Register’s list of missing or stolen watches last year, a 60 percent rise compared to 2021. The company - which specialises in helping owners, auctions and watch dealers identify stolen watches - now has around 80.000 missing timepieces on its database.
Of those that are stolen or missing worldwide, 44 percent are Rolexes. The company from Geneva was followed by fellow watch brands Omega (7 percent), Breitling (6), Tag Heuer (5), Cartier (4) and Patek Phillippe (3) to round out an all-Swiss top six.
Demand for Swiss watches rises alongside rates of theft
According to Swissinfo, demand for second-hand Swiss watches increased dramatically during the pandemic, just as rates of watch theft began to rise across cities in Europe. In London, for example, the Metropolitan Police Service reported that the number of knife-point robberies in the city rose by 60 percent between May and June 2023, while an anti-watch theft unit created by the Paris police now has 30 members.
“The considerable value and prestige of these high-end timepieces continue to attract the attention of sophisticated and international criminal networks, making them a prime target for theft,” noted Katya Hills, managing director of The Watch Register.
Swissinfo added that some watchmakers are now taking their own steps to combat the rise in theft: Audemars Piguet, a manufacturer from Vaud, recently announced that it would run a two-year-long programme that offers customers a chance to replace their stolen watches.
Thumb image credit: olrat / Shutterstock.com
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Jan studied History at the University of York and Broadcast Journalism at the University of Sheffield. Though born in York, Jan has lived most of his life in Zurich and has worked as a journalist, writer and editor since 2016.
While he has plunged head-first back into life in Switzerland since returning to the country in 2020, he still enjoys a taste of home at pub quizzes and karaoke nights.Read more