A report revealed cases of theft or loss of luxury watches with a total value exceeding 1.2 billion dollars worldwide, amid a significant increase in jewelry-related thefts.
“The Watch Register” foundation, which owns a database of stolen or lost precious watches around the world, stated that there are 80,000 watches that have been stolen or lost.
It clarified that there were 6,815 cases of theft or loss of luxury watches during the past year.
It added that there has been a disturbing increase in potential thefts in recent years.
Most Stolen Watch Brand
The data revealed that watches from the Swiss brand Rolex are the most targeted for theft and loss.
It added that they constitute 44 percent of the total stolen watches.
This came after significant jewelry thefts that affected celebrities around the world, such as former boxer Amir Khan and Formula 1 driver Lando Norris.
In June of last year, a luxury watch dealer said that he had quit the business after being robbed three times.
Bob Thorp stated that a week-long spree of stealing luxury watches in London brings in more money than some people earn in their lifetimes.
He considered watch theft to have become an industry in itself, expressing his belief that in some areas, it has surpassed the drug industry for certain criminal gangs.