LONDON.- Last week, the Art Loss Register identified a Patek Philippe watch in a sale in New York, only two years after its theft in Naples. The watch had been registered by the insurer on the Watch Register: the ALR’s database dedicated to stolen watches.

The watch belonged to a Swiss collector from whom it was stolen whilst he was holidaying in Naples in July 2014. The owner described the theft ‘like a scene from a movie.’ The watch was ripped off his arm as he walked through the town centre one evening and the thief ran off amidst clamouring passers-by.

The owner immediately informed the Italian Carabinieri, as well as his Swiss insurer and the manufacturer. The insurer then registered the watch on the ALR’s Watch Register.

The ALR had since been searching for the watch on the international market, and spotted it two years later in the sale of a U.S. auction house. Stolen in Naples, the watch had made its way to New York soon after the theft and ended up with an unsuspecting American buyer. Upon receiving news of the theft, he swiftly relinquished his rights to the watch and sought reimbursement from his seller.

As a result, the watch could remain in the auction. It exceeded its estimate of $20,000 – 25,000, and sold for $27,500. Full proceeds went to the insurer.

Following the recovery, the insurer said, “We were amazed that the watch turned up in the U.S., and we are glad that we registered it on the Watch Register as this allowed us to recover the watch as soon as it appeared for sale on the market.”