In a year marked by significant milestones, The Watch Register has achieved a 53% increase in its success rate for locating lost or stolen watches, reinforcing its position as the world’s most comprehensive database for watch recovery. Over the past 12 months, the database has successfully located over 1,000 lost and stolen watches, preventing more than £10 million worth of watches from being resold on the market.
With a global reach and growing international support, The Watch Register’s data now includes over £1.5 billion worth of watches, and the service is more vital than ever as the holiday season approaches. The period between September and December sees an uptick in trading activity, and The Watch Register has been at the forefront, identifying stolen timepieces and safeguarding the luxury watch market.
A 53% Increase in Success Rate
In September alone, The Watch Register located an average of six watches per day. This surge in recovery success reflects the growing trust in the database, with more traders, auction houses, pawnbrokers, and private collectors signing up to use the service. Notably, 40% of the watches recovered in the past year were found in a country different from where they were initially stolen. The global nature of watch theft has made international tracking crucial, with stolen watches often crossing borders or continents before being identified.
Patek Philippe Leads with £450,000 in Recovered Value
Among the most significant recoveries are Patek Philippe models, which accounted for the top five highest-value watches located in the past year. These five timepieces have a combined resale value of £450,000, showcasing the elite nature of the luxury watches The Watch Register works to protect. The Patek Philippe pieces include models like the 1930s Patek Philippe Chronograph (£130,000) and the iconic Nautilus collection, which are often sought after in the pre-owned market.
Rolex Dominates Recovery Statistics
Rolex watches continue to dominate The Watch Register’s recovery efforts, accounting for approximately two-thirds of all watches located. Rolex’s timeless appeal and high demand make it a prime target for theft, but the brand’s prominence also means that stolen Rolexes are among the most likely to be recovered.
Real-Time Search for Global Reach
In response to the growing demand for faster and more efficient watch verification, The Watch Register recently launched a new 24/7 real-time search tool, which allows users to instantly check a watch’s serial number for theft reports, from anywhere in the world. This service significantly cuts down the time needed for watch dealers and buyers to verify a watch’s legitimacy, with results now available in just seconds, compared to the previous turnaround time of five minutes.
The global search tool uses sophisticated algorithms alongside human expertise to flag watches that require further examination, ensuring the utmost accuracy. Dealers can now conduct searches via WhatsApp, SMS, or the website, making it even easier to perform due diligence at the point of sale.
The Impact of The Watch Register’s Enhanced Service
Katya Hills, Managing Director of The Watch Register, shared her enthusiasm about the service’s growth: “In 2024, we’ve seen a 25% increase in the number of trade searches and a 53% increase in the number of stolen watches we’re locating compared to last year. Our aim is to provide the best possible tools for businesses and individuals to safeguard against the trade in stolen luxury watches. Our enhanced service allows for faster, more reliable checks across the globe, ensuring that watch enthusiasts and collectors can make informed, secure purchases.”
The Watch Register continues to work tirelessly with law enforcement agencies worldwide to identify and recover stolen luxury watches. As the global market for pre-owned watches expands, The Watch Register remains a key player in the fight against stolen goods, providing peace of mind to buyers and sellers alike.
With its innovative technology and growing international presence, The Watch Register is committed to making the watch industry safer and more transparent for all.
