UK faces surge in luxury watch theft as stolen timepieces top £1.6 billion with £60 million taken in Britain last year alone
19 February 2025, 08:21
The UK has seen a huge rise in luxury watch theft, with the total value of lost and stolen timepieces now standing at £1.6 billion, according to new figures.
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In 2024 alone, £150 million worth of luxury watches were reported missing worldwide, with approximately £60 million of that total stemming from thefts within the UK.
Data suggests that Britain remains a major target for watch thieves, but many stolen timepieces are quickly moved abroad.
Of all the watches reported missing or stolen in the last year, 60% were taken outside the UK, highlighting the international nature of the illicit trade in luxury timepieces.
Among the most valuable timepieces stolen last year were several Richard Mille models, a favourite among criminals due to their high resale value.
The ten most expensive watches recorded as lost or stolen were all Richard Mille designs, collectively worth more than £2.4 million.
The most costly single watch reported missing in 2024 was a Richard Mille 72-01, valued at £300,000.
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Patek Philippe watches also featured prominently in stolen watch reports. The five most valuable lost or stolen Patek Philippe timepieces located last year had a combined resale value of £450,000. Four of these watches were recovered in different countries from where they were stolen, with two crossing continents before being found, according to The Watch Register.
The surge in thefts follows a broader trend of rising watch crime across the UK and internationally.
Since 2023, over 30,000 luxury timepieces have been reported stolen, with the number of new cases growing each year.
In 2024, an average of 21 high-end watches were newly reported missing each day—up from 19 per day in 2022-2023 and just 12 per day in 2021.
Watch thefts have become increasingly violent, with criminals targeting wearers in broad daylight. London remains a hotspot for so-called "follow-home" robberies, where thieves track victims from luxury shopping districts or high-end restaurants before striking.
The Metropolitan Police and international law enforcement agencies have intensified efforts to combat watch-related crime, but the market for stolen timepieces continues to thrive.
As theft rates rise, so too does the number of stolen watches being recovered.
In the last 12 months, over 1,200 lost or stolen timepieces have been successfully identified and tracked down—marking a 70% increase in recoveries compared to the previous year.
Industry experts warn that stolen watches often reappear in the global second-hand market, sometimes accompanied by fake documentation.
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One-third of stolen watches are sold with box and papers, but many of these are counterfeit, underscoring the risks for buyers of pre-owned luxury watches.
Katya Hills, Managing Director at The Watch Register, which tracks stolen timepieces globally, said: “The £1.6 billion value of stolen watches highlights the scale of luxury watch crime and the efforts being made to track down missing timepieces. The integration of data from police and insurers has made it easier to identify stolen watches, but the market remains highly active.”
Experts advise prospective buyers to conduct thorough background checks before purchasing second-hand luxury watches, as criminals continue to exploit gaps in the system to move stolen timepieces across borders.
With theft rates continuing to climb, owners of high-value watches are urged to take extra precautions, including insurance, secure storage, and avoiding wearing expensive timepieces in high-risk areas.
