AN INDUSTRY WIDE CALL TO ACTION TO BREAK THE THEFT CYCLE
Watchfinder & Co., the go-to place for second-hand luxury timepieces, has taken further steps beyond its already stringent authentication standards to prevent the resale of stolen watches. The pre-owned expert is also encouraging rivals and collectors of all sizes to follow suit to make it harder to resell stolen watches, which will perhaps deter criminals from targeting high-end timepieces in the first place.
Theft of expensive timepieces is at an all-time high in the United States, especially in major cities like Los Angeles, where the number of watch robberies has doubled in the first half of 2022, and San Francisco, where police issued a press release in July 2022 warning residents of the rise in watch robberies and said they were investigating more than 24 thefts since January.
People in every state are becoming warier about buying and wearing expensive watches. This is supported by a recent study conducted by Watchfinder & Co., which surveyed 2,000 people in the United States and found that 53% are aware of the rise in watch theft and have grown more cautious as a result. About half of those surveyed said they were on the lookout for more information so they could better secure their timepieces. Watchfinder & Co. is concerned that fewer and fewer Americans are wearing their timepieces, which runs counter to the spirit of watch ownership.
Watchfinder & Co. CEO Arjen van de Vall
Watchfinder & Co. CEO Arjen van de Vall states, "At Watchfinder, we believe watches are meant to be enjoyed, which is why, after twenty years of operation, we are continually looking for ways to set industry standards and lead the pre-owned sector to new levels when it comes to the authentication and protection of our existing and future clients' timepieces."
Watchfinder & Co. is excited to add another stage to their procedure as an initial partner of Enquirus, a global watch and jewellery registry database backed by Richemont, after using several resources for over twenty years to authenticate and check incoming inventory for its lost or stolen status. The launch of Enquirus, with Watchfinder & Co. as their sole pre-owned partner, is the result of collaboration between the watch and jewellery industries, as well as law enforcement agencies around the world. The service provides a free online database where watch owners can register their watches, making it easier to recover stolen watches and preventing them from being resold. Eighty percent of those surveyed by Watchfinder & Co. said their stolen watch was never recovered, and 63 percent said they think the watch was resold after being stolen, so this is fantastic news for American consumers.
Watchfinder & Co. is trying to stop the cycle of theft in the watch business by rallying support from the watch community at large. Watchfinder & Co. has a simple two-step call to action for watch owners: always register your watch on a lost or stolen registry like Enquirus, which is free of charge and supported by watchmakers, police forces, and insurance companies all around the world. Watchfinder & Co. also tells all of its retail competitors that before reselling any watches they just bought, they should check them against a database of lost and stolen items. The most comprehensive pre-owned database is recommending shoppers stick with reputable stores that, like Watchfinder & Co., verify the authenticity of every item in stock.
"It is disturbing to see the rate at which watch thefts have been rising in the United States. At Watchfinder & Co., we're hoping to break the cycle between theft and resale by encouraging all customers to register their timepieces, as well as inspiring all other pre-owned retailers to implement thorough checking processes for their stock. With these steps in place, we can help ensure the pre-owned sector is a safe and trustworthy place to shop," added van de Vall. He continued, "At Watchfinder & Co., we believe in the value of purchasing pre-owned, and pride ourselves on the procedures we've developed to provide customers with authentic timepieces they can treasure. With crime on the rise, it's more important than ever to purchase from trusted retailers. If considering a pre-owned purchase, do your research and check that the retailer has thorough processes in place to trace and authenticate stock to give you peace of mind."
Police officers all over the United States are echoing Watchfinder & Co.'s call to action. Donald De Lucca, who has held multiple senior law enforcement posts throughout his career, including serving as the Chief of Police for the City of Miami Beach for 26 years, stated, "The lack of traceability around luxury watches has made them a prime and lucrative target for these career criminals." He continues, "With companies like Watchfinder & Co. at the front lines of the stolen watch surge, their participation in Enquirus and leadership role will be vital in ensuring the unregulated cycle between watch theft and resale is broken."
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