Watches are lost and stolen everyday around the globe. Unfortunately not enough watches are recovered and reunited with their rightful owners. An international database of lost and stolen watches is the best solution to prevent trade in stolen goods and recover watches .
How does a lost & stolen watch register work?
The concept is rather easy. Owners who lost their watch or from whom it got stolen can list their watch in the online database. They provide the details of the watch (when it got stolen, where it got stolen, the brand and model, serial number…) and like this it is registered forever. Simple as that.
Next, the database is used by police forces, insurance companies, retailers, pawn brokers, jewellers, auction houses and collectors for due diligence.
Retailers and pawn brokers can check a watch in the database before buying and reselling it. When the watch is reported, they will contact us and we inform the victim or rightful owner.
Also people who are interested in buying a second hand watch can look up the watch in the database to check if it was not reported stolen.
Last but not least, police forces often find luxury watches during investigations. Thanks to the international database they can check if the watch was ever reported.
Why should there be an online lost & stolen watch register?
First of all, a online lost & stolen watch register offers an easy due diligence on watches for collectors and retailers to buy and sell, and thus to protect themselves from the consequences of dealing in stolen goods.
Secondly, the more awareness that will be created around these watches, will make it more difficult for thieves and criminals to get away with it.
Unfortunately not all watch manufacturers have a lost & stolen watch register. And if they do, it is not publicly available, what keeps a lot of parties from doing a quick check up. An online public register makes it very easy and increases the chances to prevent trade in stolen goods and recover watches.
Can all watches be registered in the database?
Yes, the database is growing rapidly and contains all possible brands. Most stolen or lost watches are:
- Patek Philippe
- Audemars Piguet
- TAG Heuer
- Franck Muller
- Girard Perregaux
- Jaeger LeCoultre
- Richard Mille
- A. Lange & Sohne
- Baume & Mercier
What extra service can a lost & stolen watches database offer?
On of our goals is to return stolen watches with their rightful owners as fast as possible. Unfortunately, this is not always as easy as it seems.
Often, by the time a watch got located, the owner got already paid by his insurance company. By the right of subrogation an important question is to who this watch should return? The owner or the insurance company. Especially when the watch increased its value over time, this leads to difficult discussions.
Next, stolen or lost watches are often being sold quite some times before the turn up. The law differs in different countries to arrange the position of good-faith holders and buyers. Often is it needed to negotiate settlements with these good-faith holders efficiently and discreetly.