Luxury watch theft has become a significant global issue. These thefts often involve organised gangs targeting high-end timepieces like Rolex, Patek Philippe, and Richard Mille, driven by a lucrative resale market.
Christopher Marinello – described by The Guardian as “the art detective who hunts stolen Picassos and lost Matisses’ – is an art detective and lawyer, having spent three decades finding missing masterpieces around the world, recovering half a billion dollars’ worth of art and stolen watches for his clients. This article offers a summary of his conversation with Hana Refai, Head of Privilege Club, exploring the realm of luxury watches, the rise of watch thefts and trends around the world, the tactics thieves use to steal valuable timepieces, and how you can protect your prized possession.
Why Watches?
Because watches are, in essence, portable wealth. You can’t walk into a gala with a Picasso under your arm, but a million-dollar Patek Philippe on your wrist? Nobody bats an eye. They’re art, status, and currency – wrapped in metal and glass.
Global Trends in Luxury Watch Theft
London
In 2022, over 6,000 luxury watches were stolen in London alone. The city has seen a 60% increase in watch thefts compared to the previous year, with Rolex being the most targeted brand.
Paris
The French capital has also witnessed a rise in luxury watch thefts, particularly in tourist areas.
Barcelona
Tourists in Barcelona are frequent targets of watch thefts, especially in crowded spots like Las Ramblas and the Gothic Quarter.
Los Angeles
The US city has experienced a 30% increase in watch thefts from January 2022 to November 2023. High-value watches are often targeted in areas like Beverly Hills and Downtown LA.
Various Tactics Thieves Use to Steal Luxury Watches
Snatch-and-Grab
A thief distracts the victim while an accomplice swiftly removes the watch.
Moped-Enabled Robberies
Criminals on scooters or motorbikes snatch watches from pedestrians and quickly flee.
Mirror Trick
Thieves may cause a minor incident, like banging into a car’s mirror, prompting the driver to lower the window, making it easier to steal the watch.
Celebrity Watch Thefts How to Combat Watch Theft
Keanu Reeves’ “Rolex Submariner”
In 2023, a Rolex Submariner gifted by Reeves to his stunt team was stolen from his Los Angeles home. The watch was recovered in Chile in 2024.
Amir Khan’s “Franck Muller”
In 2022, boxer Amir Khan was robbed at gunpoint in London, losing his £72,000 diamond-encrusted Franck Muller Vanguard Chronograph.
Charles Leclerc’s “Richard Mille”
Formula 1 driver Charles Leclerc had his $320,000 Richard Mille watch stolen in Italy in 2022.
How to Combat Watch Theft
Law enforcement agencies worldwide are taking steps to address luxury watch thefts:
• Undercover operations being undertaken
• Dedicated task forces being set up
• Public awareness campaigns on the rise
How to Protect your Luxury Timepiece
Avoid Displaying Expensive Watches in Public
Be discreet when wearing valuable watches, especially in crowded or unfamiliar areas.
Use Secure Storage
When you’re not wearing a watch, store it in a secure location.
Insure Your Watch
Get insurance for your luxury watch to protect it against potential theft.
Register Your Watch
Use platforms like The Watch Register to document your watch’s details, aiding in recovery if stolen.
Disclaimer: The information provided in this blog is for general information purposes only and does not constitute professional advice. Readers are advised to (i) obtain independent professional advise before making any decisions related to or arising out of this blog article. Sukoon Insurance PJSC does not make any representation or warranty of any kind in relation to this article/blog post including that any of the data, information, materials on this blog article are accurate, reliable, or complete. Sukoon Insurance PJSC hereby disclaims any and all responsibility or liability of any kind for any direct or indirect damages or losses of any kind caused to you in relation to or arising out of this blog article. The views and opinions expressed by third parties are solely those of the individuals or entities providing them and do not necessarily reflect, represent, or imply the views, positions, or policies of Sukoon Insurance PJSC.
