London Watch Show theft

[zodiac]

According to a Paul Thorpe YouTube video Edinburgh Watch Company have had a bag of watches stolen at the London Watch Show. The bag was hand to the security by Edinburgh Watch Company staff and then has gone missing. Some folk are say £350 k worth of watches now missing.

[seadog1408]

According to a Paul Thorpe YouTube video Edinburgh Watch Company have had a bag of watches stolen at the London Watch Show. The bag was hand to the security by Edinburgh Watch Company staff and then has gone missing. Some folk are say £350 k worth of watches now missing.

Oh good another post on the subject 👍

[zodiac]

Oh good another post on the subject 

Oops sorry didn’t see any other posts. Ignore this one

[markrlondon]

Where else is it being discussed?

[EJL25]

Paul Thorpe London Watch Fair missing watches
https://r.tapatalk.com/shareLink/top...ink_source=app

[Mr Tetley]

Oops sorry didn’t see any other posts. Ignore this one

No need to apologise Op. I suspect you aren’t the only one who missed the other thread as it’s not in ‘Watch Talk’.

[markrlondon]

Paul Thorpe London Watch Fair missing watches
https://r.tapatalk.com/shareLink/top...ink_source=app

Thanks.

No need to apologise Op. I suspect you aren’t the only one who missed the other thread as it’s not in ‘Watch Talk’.

Yup, me too.

[Linc]

I can’t find original thread about the theft and above link doesn’t work. When I do search it just brings up this post.


Sent from my iPhone using Tapatalk

[Suds]

Original thread is in the Bear Pit

[Kingstepper]

I can’t find original thread about the theft and above link doesn’t work. When I do search it just brings up this post.


Sent from my iPhone using Tapatalk

It's in the 'Bearpit', think you need 250 posts to view.

[Linc]

It's in the 'Bearpit', think you need 250 posts to view.

Ah ok. Thanks


Sent from my iPhone using Tapatalk

[tabascokid]

Am here now. Quite a place. Not sure I’ve ever seen a 4” deep stack of fifties being pulled out of a pocket before. Certainly not mine anyway…


Sent from my iPhone using TZ-UK mobile app

[tabascokid]

Not surprised stuff goes walkies at things like this. Shoulder to shoulder this morning, with everyone taking photos of watches on the wrist and huddling round to see. Must be a security nightmare.


Sent from my iPhone using TZ-UK mobile app

[boring_sandwich]

Must be a money launderers dream.

[Yeti]

The people behind this “show” I wouldn’t let organise a kids birthday party let alone anything else. Young wide boys from south London. Saying that a lot of the exhibitors are no better. Mostly Instagram dealers who are quite happy to circumvent money laundering regs to line their pockets…

[Snowdon]

Am here now. Quite a place. Not sure I’ve ever seen a 4” deep stack of fifties being pulled out of a pocket before. Certainly not mine anyway…


Sent from my iPhone using TZ-UK mobile app

Which dealer was taking the cash?

- - - Updated - - -

The people behind this “show” I wouldn’t let organise a kids birthday party let alone anything else. Young wide boys from south London. Saying that a lot of the exhibitors are no better. Mostly Instagram dealers who are quite happy to circumvent money laundering regs to line their pockets…

Spot on

[tabascokid]

Which dealer was taking the cash?

- - - Updated - - -



Spot on

Can’t remember which one it was, I’m afraid.


Sent from my iPhone using TZ-UK mobile app

[Haywood_Milton]

Here's what you are looking for --- including, it appears, a Comex 16800 :

[100thmonkey]

Planet Ocean at £45k. Wow. They have gained momentum!!!


Sent from my iPhone using Tapatalk

[helidoc]

I don’t know Jonathan, but an awful thing both personally and commercially.

I wonder if insurance reflects market or replacement value?

Hope the law catch up with the thieves speedily.

D


Sent from my iPhone using Tapatalk

[Haywood_Milton]

Insurance is typically based on replacement value, but negotiating that on something like the Comex may not be easy. What one paid for it may be cited, but equally out of date by the time of claim. This might involve negotiation now more than ever……a recovery would be much preferred, no doubt !

[boring_sandwich]

I wonder how this will also affect the flippers/AD’s once Rolex HQ are notified of the loss seeing as there are a number of watches listed from 2021/2022.

[kinyik]

Ouch… that comex will be hard to replace.


Sent from my iPhone using Tapatalk

[Geneve]

Insurance is typically based on replacement value, but negotiating that on something like the Comex may not be easy. What one paid for it may be cited, but equally out of date by the time of claim. This might involve negotiation now more than ever……a recovery would be much preferred, no doubt !

It’s complicated - Market Value and Replacement Value are generally the same - if you can just go out and buy a replacement at RRP.

If immediate replacement involves going into the secondary market and paying a premium price, then most insurers would require an Agreed Value - so they would normally pay out what was agreed in the Policy - and which they would have reflected in their premium.

I can see insurers getting very nervous about their ‘All Risks’ exposure on desirable watches. - premiums could sky rocket.

[Haywood_Milton]

It’s complicated - Market Value and Replacement Value are generally the same - if you can just go out and buy a replacement at RRP.

If immediate replacement involves going into the secondary market and paying a premium price, then most insurers would require an Agreed Value - so they would normally pay out what was agreed in the Policy - and which they would have reflected in their premium.

I can see insurers getting very nervous about their ‘All Risks’ exposure on desirable watches. - premiums could sky rocket.

We’re talking jewellery trade insurance, rather than domestic. It is different and I have some modest familiarity with the subject.

[IanK]

Sorry to hear about the the theft. It beggars belief how this could happen if handed directly to security.

Saw some Instagram footage earlier of some watch dealers lined up at this show for video - looked like the cast of Peaky Blinders sponsored by Bitcoin.

[Haywood_Milton]

I have received an updated list.

Referring to the numbers reported above, the following three now appear NOT to be missing :

Monaco WMA5444

Planet Ocean 85188581

Submariner 126610LV - J523W804

H

[Haywood_Milton]

How does a 2003 GMT 16710 have a random case number : 1347X588 ?

Anyway, passing on the message :

IF ANY OF THESE WATCHES ARE SEEN OR OFFERED FOR SALE, PLEASE CONTACT THE METROPOLITAN POLICE ON 101 QUOTING CRIME REFERENCE NUMBER: 6515100/22.

[Haywood_Milton]

The case number of the missing 2003 16710 has now been corrected and it is K883076 we should be looking for.

H

[Jonesy9]

Just crazy the amount of flipped nearly brand new Rolexes in this list!

I know that it doesn’t help the affected, but just imagine if these were originally sold to someone that truly wanted it. Rather than a flipper.

I know, all ifs and buts, and it could be that all were originally purchased to be loved but someone’s situation changed and forced them to sell. But, damn!

[Haywood_Milton]

I received a very pleasant call this morning from JG. Our paths had not crossed previously but he is widely respected and impressed on the telephone.

Some of the earlier numbers were incorrect, and it is better that they are posted in text strings that can be found via Google searches etc rather than screen grabs as previous, so he agreed to share this updated list. Numbers that have been revised are highlighted in blue :


Rolex Explorer 11 16570 - V472955
Panerai California PAM00424 - BB1822939
Tag Heuer Carrera 02 CBG2A10 - WMG2933
Rolex Comex 16800 - 8314280
Omega Speedmaster Racing 8297511
Breitling Navitimer AB012721 - 3174286
Rolex Explorer 124270 - 1679U186
Rolex Explorer 124270 - 4Q7E9183
Rolex GMT Master 11 16710 - K883076
Rolex GMT Master 11 126711CHNR - OVN16871
Rolex Submariner 126610LN - L7433493
Omega Speedmaster Apollo 8 - 7886687
Tudor Heritage M79620T - J626220
Rolex Daytona 116519 - 795D2713
Bremont Super Marine BKRS 24186
Rolex Datejust 41 126300 - 61N2S087
Rolex Submariner 116610LN - 9761G737
Panerai Luminor GMT PAM00320 - SM3025996
Rolex Datejust 36 126200 - U2442064
Rolex Explorer 36 214273 - 95Q9T751
Rolex Datejust 36 126233 - 749X55796
Rolex Datejust 36 126233 - 90U34134
Rolex Explorer 36 214273 - U1U03992
Rolex Datejust 31 278240 - 28K4K220
Rolex Day Date 11 218238 - G445407
Omega Planet Ocean 45.5mm - 86638788
Rolex Daytona (Zenith) 16520 - E797529
Omega Speedmaster Moonphase 82111922

[Sonos]

This is an intriguing theft which seems to have dropped off the radar.

Looks like he was targeted as all of his stock is readily saleable / sensible stock.

The Comex is rare but everything else is bread and butter stock in the watch trade.

Hopefully they get to the bottom of it.

[watchlovr]

This is an intriguing theft which seems to have dropped off the radar.

He has posted on IG regarding the theft.
I can’t copy/paste it and the rigmarole of posting photos on here is prehistoric.
Check for yourselves.

[dkpw]

He has posted on IG regarding the theft.
I can’t copy/paste it and the rigmarole of posting photos on here is prehistoric.
Check for yourselves.

Thanks, I too was curious what the latest situation was.

[Sonos]

Is there any progress on this theft? Such a lot of money involved?

I wonder if flippers have been identified and which ADs supplied the watches to the flippers?

[kinyik]

I’m sure there’s some sort of underground black market where stolen watches trade for less than they would on the open market but still above retail. Might never recover them!


Sent from my iPhone using Tapatalk

[alanm_3]

I’ve been in regular touch with Jonathan, as I’ve know him for several years, after doing business with him after he started up EWC. As HM has commented, he is as genuine and trustworthy as they come and this was a huge blow to him personally and commercially but anyone who knows his “back story” will know he is a true fighter and will recover from this unfortunate incident.

As to the outcome of the pieces themselves, I tend to suspect that they have made their way to some far flung locations where the legitimacy of such things is less important than than the item itself.

[dkpw]

If anyone is interested in an update from Jonathon on the theft of his watches from last year, he was a recent guest on Paul Thorpe's channel. That relationship still bemuses me.

Anyway.

If you just want the story and update, you can skip to 31:10.

[watchlovr]

Could someone just update me, without me having to listen?

[joe narvey]

Could someone just update me, without me having to listen?

29 watches approx retail value £460k nicked from strong room holding considerably more value. Suspects he was targeted. Watches not recovered doesn’t know who nicked them.

Lots of wonderful people offered him watches to SOR and someone offered him £10k.

That’s it.

[dkpw]

And insurance paid up.

A couple of the watches surfaced, to the extent that their serial numbers rang alarm bells but the watches themselves have not been recovered. Possibly a test to see if they could be moved.