For several years now, the theft of luxury watches has been on the rise and this affects all regions of the globe. Lovers of fine mechanics and high-end watches are even wondering whether it makes sense to carry their Rolex Replica Audemars Piguet Daytona, their Royal Oak or even their Nautilus in the middle of the street.
Whether in Paris, Los Angeles or Madrid, the tocante robbers are very experienced and even trained, they would be able to recognize a precise reference several meters away. The city most affected and above all the most dangerous is none other than the capital of England: London.
Between January and July 2024, no less than 377 watch thefts were recorded in the city of London, according to the Metropolitan Police. In 2024 this figure increased to 621 flights, over the same period. Beyond the increase in the number of thefts, it is also the violence of the latter which poses an increasing problem to the authorities. Thieves do not hesitate to use machetes, firearms and so on, in order to steal a Patek, a Rolex or an Audemars.
But what’s the point of buying a luxury watch only to leave it in the safe? IM asking you. And how should we react to the increase in these thefts?
Some players in the watchmaking field are deciding to take the lead. Audemars Piguet and the Richemont Group have both decided to launch initiatives in the same week intended to address the increase in watch thefts.
Audemars Piguet launches AP Coverage Service its “insurance” against watch theft
Early this morning, the CEO of Audemars Piguet, François-Henry Bennahmias, unveiled AP Coverage Service. This unique service in the world allows the owner of an Audemars Piguet watch to protect themselves in the event of theft or attack.
This is the first time in the world that a brand has offered this type of insurance to its customers. Indeed, this service is available for all Audemars Piguet watches acquired for the first time between 2022 and 2023, in Audemars Piguet boutiques or from the brand’s official retailers.
The brand’s intention is to help victims of theft and crime after the incident. This new “insurance” guarantees replacement, reimbursement or even repair if:
- Your Audemars Piguet watch has been stolen.
- If your watch is broken or damaged.
To benefit from this new AP Coverage service, it is very important to activate the service in your name for each eligible watch BEFORE the theft or damage occurs. Several pieces of information will be requested from you to certify the authenticity of the watch.
Subsequently, if you are the victim of theft then Audemars Piguet will examine your request and will offer either the replacement of your watch when replacement is possible, or the reimbursement of the watch.
So of course this solution and this “insurance” will not help to reduce the rate of assault and theft, but on the other hand, it is a first step to help people who are victims of watch theft, especially when we know that the majority of thefts concern Audemars Piguet watches.
I still remain curious to see how the brand will manage this new program.
Richemont launches “Enquirus” its platform which identifies stolen watches
Still with this aim of countering the theft of luxury watches, the Richemont group (Cartier, Piaget, IWC, etc.) has also just announced the launch of Enquirus, an international digital platform which provides information on luxury products. such as watches and especially which lists the goods that have been stolen.
The objective of this new platform is to help owners of luxury watches to register their pieces directly when purchasing in store. Therefore, if these watches are stolen, they can be immediately reported on the Enquirus platform.
The aim of this solution is simple, although it is almost impossible to fight against watch thefts and attacks, it is however possible to control and block the resale of these stolen watches. Enquirus therefore complicates the task of criminals who want to resell their watches on the gray market.
This software is not only dedicated to the Richemont group, it is open to all luxury brands. Enquirus was designed in collaboration with various market players such as watchmaking companies, insurance companies and law enforcement.
This solution is therefore very interesting to finally hope to help victims of theft but for it to be really effective, as many companies as possible must record the sales of their pieces but also for individuals to register their watch collection on this platform. .
The more data there is in Enquirus, the more likely it is that the stolen goods will be found. Currently, 175 watch brands as well as several major jewelry brands are registered on the platform.
My opinion on Ap Coverage Service and Enquirus
Between Audemars Piguet and the Richemont group, I think this is a very good start to gradually fight against the scourge of luxury watch theft. It is important that major market players embark on this type of initiative. This will perhaps push other watchmaking companies to do the same.
These new features still need to be kept an eye on, I am curious to see how this will be managed and how the verifications with AP and Richemont will be carried out. I also hope that there will not be too many scams or scams because smart people are surely already seeing how to get around these systems.