The number of watch thefts in London rose by nearly 12 per cent from 2022 to 2023, according to exclusive figures.
New data shown to CityNews by the Met police reveals Watch theft in the capital increased from 6,079 incidents in 2022 to 6,803 in 2023.
The data also revealed that the borough of Westminster had the highest number of reported watch thefts in 2023 with 1,203 incidents.
This was followed by Kensington and Chelsea, 346, Barnet, 298 and Camden, 295.
Outside Harrods in Knightsbridge is a hotspot for watch theft. Credit: Tia Tokatly, CityNews
Victims are often targeted when leaving pubs and nightclubs. Wealthier areas are also hotspots for this type of crime.
Charlie Crane, an estate agent from Parsons Green, told City News how he was followed home by two men who held him at gunpoint for his £15,000 Rolex Daytona.
Mr Crane said: “The robbers they kind of knew where I lived, they knew what time I came back from work […] they followed me home and that’s when they pulled the gun on my face.”
Following the attack, he said he felt ‘shocked’.
Mr Crane said he could ‘count more than ten friends that have had a high value watch stolen’ in the last two years.
Charlie’s Rolex Daytona was stolen outside his home in an armed robbery Credit: Lilly Croucher, CityNews
When asked whether the incident had changed his mind on wearing a luxury in public, Mr Crane said: “The risk of wearing a watch now outweighs the benefits.”
Charlie’s empty Rolex box is a reminder of the attack Credit: Charlie Crane
‘Small, portable and expensive’
The Watch Register, a database which holds the serials numbers of over 100,000 watches globally, shares its data with retailers and police forces to track stolen and counterfeits items on the luxury watch market.
Katya Hills, Director of The Watch Register said: “Luxury watches, they’re small, they’re portable, they’re expensive, and there’s a very strong resale market.
“They are much easier to transport than large sums of cash, which makes them a very effective tool for money laundering as well.”
She added: “Luxe Consultants estimate that in 10 years time, the value of the pre-owned market will exceed the brand-new luxury market.”
Ms Hills said greater awareness of the Watch Register as a recovery tool and database ‘would have an enormous effect in reducing the liquidity of watches and making them a less desirable asset for thieves’.
Expensive watches are targets due to their high resell value. Credit: Tia Tokatly, CityNews
‘Targeted patrols’
The Met Police have been carrying out undercover operations since 2022 to bring the numbers of watch thefts down.
The operations involved having undercover officers pose as members of the public wearing luxury watches in robbery hotspots.
The operations, which ran from October to December 2022 and March to October 2023, resulted in 31 arrests and 27 successful charges.
A spokesperson for the Met Police said: “Robbery is a priority for the Met, and we are working hard to identify harmful offenders, by working with local businesses and partners to prevent these offences taking place in central London.
“Across London officers are conducting targeted patrols in robbery hotspots to identify, apprehend and deter potential offenders. We also have dedicated teams out on intelligence-led operations to target repeat offenders.”
Submitted Article
Headline
Short Headline
Standfirst
Published Article
HeadlineLuxury watch theft in London saw sharp rise in cases last year
Short HeadlineLondon watch theft sees sharp rise
StandfirstWatch experts warn that the 'strong resale market' makes the luxury items a target for thieves.
The number of watch thefts in London rose by nearly 12 per cent from 2022 to 2023, according to exclusive figures.
New data shown to CityNews by the Met police reveals Watch theft in the capital increased from 6,079 incidents in 2022 to 6,803 in 2023.
The data also revealed that the borough of Westminster had the highest number of reported watch thefts in 2023 with 1,203 incidents.
This was followed by Kensington and Chelsea, 346, Barnet, 298 and Camden, 295.
Outside Harrods in Knightsbridge is a hotspot for watch theft. Credit: Tia Tokatly, CityNews
Victims are often targeted when leaving pubs and nightclubs. Wealthier areas are also hotspots for this type of crime.
Charlie Crane, an estate agent from Parsons Green, told City News how he was followed home by two men who held him at gunpoint for his £15,000 Rolex Daytona.
Mr Crane said: “The robbers they kind of knew where I lived, they knew what time I came back from work […] they followed me home and that’s when they pulled the gun on my face.”
Following the attack, he said he felt ‘shocked’.
Mr Crane said he could ‘count more than ten friends that have had a high value watch stolen’ in the last two years.
Charlie’s Rolex Daytona was stolen outside his home in an armed robbery Credit: Lilly Croucher, CityNews
When asked whether the incident had changed his mind on wearing a luxury in public, Mr Crane said: “The risk of wearing a watch now outweighs the benefits.”
Charlie’s empty Rolex box is a reminder of the attack Credit: Charlie Crane
‘Small, portable and expensive’
The Watch Register, a database which holds the serials numbers of over 100,000 watches globally, shares its data with retailers and police forces to track stolen and counterfeits items on the luxury watch market.
Katya Hills, Director of The Watch Register said: “Luxury watches, they’re small, they’re portable, they’re expensive, and there’s a very strong resale market.
“They are much easier to transport than large sums of cash, which makes them a very effective tool for money laundering as well.”
She added: “Luxe Consultants estimate that in 10 years time, the value of the pre-owned market will exceed the brand-new luxury market.”
Ms Hills said greater awareness of the Watch Register as a recovery tool and database ‘would have an enormous effect in reducing the liquidity of watches and making them a less desirable asset for thieves’.
Expensive watches are targets due to their high resell value. Credit: Tia Tokatly, CityNews
‘Targeted patrols’
The Met Police have been carrying out undercover operations since 2022 to bring the numbers of watch thefts down.
The operations involved having undercover officers pose as members of the public wearing luxury watches in robbery hotspots.
The operations, which ran from October to December 2022 and March to October 2023, resulted in 31 arrests and 27 successful charges.
A spokesperson for the Met Police said: “Robbery is a priority for the Met, and we are working hard to identify harmful offenders, by working with local businesses and partners to prevent these offences taking place in central London.
“Across London officers are conducting targeted patrols in robbery hotspots to identify, apprehend and deter potential offenders. We also have dedicated teams out on intelligence-led operations to target repeat offenders.”
After an investigation by the Met Police, six people have been charged with links to the PKK and will appear in Westminster Magistrates Court on Tuesday.
