The Watch Register, which holds the world’s largest and most established international database of lost and stolen watches, has seen a 236% increase in the number of luxury watches with unique serial numbers added to its global database over the last 12 months.
The 10-year anniversary report from The Watch Register, the global watch crime prevention database that was established 10 years ago, reveals that the total value of missing or stolen watches currently registered on its global database amounts to around $1.9 billion USD.
The report documents the evolution of the global database of lost and stolen watches and discusses the obstacles that need to be overcome in the fight against watch crime. One of the key challenges recognised in the report is the proliferation of fragmented watch registration database services which cause confusion and dilute data archives, reducing the chances of returning a match for a watch that has been lost or stolen.
In an effort to tackle the escalation in luxury watch crime and to disrupt the global trade in stolen watches, the report highlights the need for increased collaboration from all stakeholders, including insurers, auction houses, watch dealers, manufacturers and law enforcement agencies, to support a centralised global database for the registration of lost and stolen timepieces. One recognised, single point of registration would enable a user to trade in confidence.
