Luxury Watch Market Theft Report

Key Points from the Discussion

• Even with robust security, professional thieves operate with sophisticated methods, as evidenced by incidents like the Jenson Button gas attack, underscoring the constant threat to high-value collections.
• The effectiveness of home security, including alarm systems, guard dogs, and burglar-proof safes, is a recurring concern for collectors when major thefts occur.
• Many collectors opt to store the majority of their valuable pieces in bank safe deposit boxes, despite the potential inconvenience, and some even create elaborate hidden compartments at home for select watches.
• Individual insurance policies are crucial, especially for vintage pieces, where valuation can be complex and contentious with insurance companies. Buying new can simplify this process.
• Some collectors keep watch papers and tags separately, often in bank vaults, to protect provenance documentation.
• A criminal lawyer's perspective reveals the extreme and often unimaginable methods employed by professional thieves, reinforcing the need for comprehensive security strategies.