Richard Mille RM 004 V2

Richard Mille RM 004 V2 Timepiece

21 November 2024

RECOVERED TODAY: Today we recovered this €300,000 Richard Mille RM 004 V2 timepiece. Stolen in a violent robbery in London in 2018 just outside of Harrods. The criminals approached the victim on scooters and demanded the watch at knifepoint. The victim’s wife managed to kick one of the perpetrators in the face before being further threatened.

The watch was offered for sale in Geneva by a Dubai based dealer who had no knowledge of the 2018 theft. ARI’s Chris Marinello negotiated an unconditional surrender and offered to assist this dealer in recovering his purchase price from the person who sold him the stolen watch.

Fortunately, the watch was insured by one of our Member insurers. The victim only had to return the original payout amount and he was reunited with his treasured timepiece.

Following a theft, it is important to file police reports (even if the police seem disinterested) and to notify the manufacturer (some of whom maintain databases of stolen watches).  No matter which watch register or database you use, it is critical that you do not let them handle the recovery.  Some of these watch registers are conflicted and actually represent the dealers or auction houses and are not acting in your best interests.  They are simply looking to collect fees from both sides of the dispute.

If your watch appears in the marketplace for sale or service, we strongly recommend that you resist the temptation to immediately contact the possessor.  A clear and fluid strategy needs to be implemented prior to contact in the event that the possessor disappears, or the dealer/auction house returns the stolen item to their consignor, never to be seen again. Law enforcement must be notified at the right time to encourage their involvement without them ham-handedly seizing the watch and holding it for years until a Court sorts out the title issues.  We will sort out the title issues and present it to the police.

Feel free to contact us for a free consultation on stolen art or watch cases BEFORE you retain that lawyer who is going to “give it a go” for the first time. You will be charged by the hour for their education.