Audemars Piguet To Insure Client’s Watches Against Theft and Damages
Up to $73,000 USD in value.
Audemars Piguet now offers a warranty and guarantee service that insures its clientele with a replacement or refund of up to $73,000 USD, in the case their watches are stolen. This decision by the prestigious Maison also marks the first time a luxury watchmaker initiated such services.
According to The Straits Times, watch thefts have been a growing concern for the luxury watch market. The increasing number of violent crimes has impacted consumers’ desire to invest and wear expensive watches, which also leads to a decline in sales. In response, AP’s current CEO, François-Henry Bennahmias confirms that the initiative will “guarantee to replace, refund or repair any stolen or damaged watch bought in 2022 or 2023 for two years.”
Those who have purchased an AP timepiece between now and last year will be eligible to register. Applicants are required to submit proof of purchase and ownership, along with a photo and a serial number of their watch. This program will run until the end of 2024, and will naturally exclude second-hand and vintage pieces.
Elsewhere in watches, check out the best drops of Watches & Wonders 2023 here.
