uxury watches price greater than £1 billion are registered as stolen or lacking after a pointy improve, new knowledge exhibits.

Almost 80,000 watches have been reported as stolen or lacking, based on international crime prevention database The Watch Register.

The platform mentioned there was a “concerning surge” in potential thefts lately.

It comes after numerous high-profile jewelry thefts affecting celebrities together with former boxer Amir Khan, bicycle owner Mark Cavendish and racing driver Lando Norris.

Victims can register stolen merchandise with The Watch Register, and the platform is then utilized by sellers, jewellers, pawnbrokers and public sale homes to determine stolen watches.

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Recent information present a regarding surge within the registration of luxurious watches which were stolen or misplaced.

The platform mentioned it has 78,165 stolen watches on its database.

A complete of 6,815 had been recorded as being lacking or stolen final 12 months, representing a 60% improve within the variety of new watches on the worldwide database.

This included a 33% improve for the 12 months within the UK.

The whole worth of all watches recorded as stolen or misplaced quantities to over £1 billion and contains numerous high-value luxurious watches that individually retail between £50,000 to £100,000 or extra, it mentioned.

Rolex watches are the commonest recorded on the system, accounting for 44% of the full.

Katya Hills, managing director at The Watch Register mentioned: “Recent records show a concerning surge in the registration of luxury watches that have been stolen or lost.

“The considerable value and prestige of these high-end timepieces continues to attract the attention of sophisticated and international criminal networks, making them a prime target for theft.

“The increasing number of stolen luxury watches also serves as a stark reminder of the risks faced in safeguarding such high-value possessions and we advise owners to make sure that they have adequate insurance for their watch, to keep photographs of their watch and to make a note of their watch’s unique serial number, which will aid its recovery in the event of it being lost or stolen.”