Watch your Rolex
Rolex are almost like diamonds. Everyone recognizes a Rolex watch, many people want them, people will pay dollars for them, and lastly, nobody wants to pay top dollar for them. Like with diamonds, there is an underground market for stolen Rolexes and entry points are as easy to find as the local pawn shop. When doing a simple Google search, it’s obvious that Rolexes are not immune. Despite the prevalence of Rolex theft, there are a couple of things Rolex owners can do to protect their investment and keeping the watch out of the pawn shop.
Many of the articles depict Rolexes stolen as a result of lax security and because the watch was visible. Most people do not leave diamonds lying around, and the same is true for Rolex. Even though a Rolex is a watch and can be left on a counter without fear of it being sucked up in a vacuum, the same security applies as if it were a diamond. First and foremost, the safest place for your watch is on your wrist. Keeping the watch on a counter, on a desk, or removed to do a quick show-and-tell with friends, makes the watch visible to other general public bystanders that makes it a mark for a strong-arm theft by an unknowing observer, or for a grab and run heist. When in public, your watch belongs on your wrist.
Out of Sight is out of Reach
At home, it is easy to leave your Rolex on your dresser while wearing your weekend beater watch. For owners of multiple watches, it’s tempting to have them out for easy selection at the start of the day, but many Rolex thefts are as a result of the watch being seen by neighbors, the handyman, house visitors and potentially word of mouth among them. For an unworn Rolex, the best place for it to live is behind lock and key. Rolex wearers who own multiple watches are known to store them in a safe deposit box at the local bank. Safe deposit boxes are fireproof, behind multiple locks, and under video surveillance. For Rolex owners who do not want to deal with a safe deposit box, invest in a closet safe that is fireproof and bolted to the floor or wall. Although a burglar could ultimately take the safe, at least your watch is out of sight and will thwart the smash and grab thief.
You’re insured for medical, so should your watches
For home owners, consider adding your Rolex to the home insurance or obtaining a separate policy for your watch. Typically, policies cost 2-3% of the value of the watch and are good insurance for more than theft, but also for accidental breakage and loss. Most home insurance policies allow for itemizing a Rolex and insuring at full value or purchasing a separate policy for full coverage on the watch attached to the home insurance policy. Jewelers Mutual is also available to insure watches for accidental loss, theft, breakage and does not require a base home insurance policy. An insurance policy is great piece of mind knowing that your watch can go anywhere and do anything that your arm does without worry of accidents. If your arm is insured with medical insurance, your watch should be as well.